Fish farming otherwise known as pisciculture, involves the commercial breeding of fish, primarily for food. Fishes can now be grown in tanks and ponds. 

Fish farming is one of the most lucrative and profitable agricultural businesses. There was a time when the only method of getting fish was to catch it in rivers using hooks and fishing nets. Nowadays, we raise fish on farms. Thanks to current fish farming techniques.

A profitable business like fish farming could easily result in N5-6 million profit within 3-6 months.

With competent planning and management, all is required is capital of roughly 1-3 million naira to get started.

Steps to starting a lucrative fish farming business are as follows:

8 Steps on How to Set up a profitable fish farm in 2022

1. Choose the type of fish farming
2.  Learn the skills required for Fish Farming
3. Calculate the cost
4. Right location for fish farming is Essential
5. Secure a Land
6. Construct Ponds
7. Construct and channel Water source
8. Get Juvenile Fish

(1) Choose the type of fish farming

The type of fish you’ll choose for farming is the first thing you should think about when starting a fish farm. The appropriate fish species selection is critical to the success of your fish farming business.

Be sure to base your selection on market demand, management perspective, and resource availability, among others. 

The following are some of the most popular fish farming business ideas with good returns.

• Tilapia Fish Farming

• Catfish Farming

Catfish Farming

This is the most popular fish farming business in Nigeria. Commercial catfish farming is a profitable business that can be done alone or with other farmers. Furthermore, it can be launched on a small scale and at a low cost.

(2)  Learn the skills required for Fish Farming

When starting a fish farming firm, it is critical to have some knowledge. There are some government-run farms that provide training opportunities.

You can learn skills by attending such programs. Working on a successful fish farm can also teach you valuable skills.

It will educate you on how to prevent disease, regulate water quality, promote your product, feed it, and process it.

When it comes to launching a fish farming business, there are a few things to keep in mind.

1. Be sure that you have a reliable source of water.
2. Check to see if the temperature of your water is acceptable for raising fish.
3. Check to see if the pond has enough space for fish to roam freely.
4. Ensure your pond is flexible enough for harvesting and feeding fish

Both bacteriological and chemical tests should be performed on the water in which you plan to start fish farming.

Learn about the most up-to-date technological risk management and risk assessment methods.

It’s critical to find credible providers for fingerlings, fish eggs, and fish feed.

Learn about the permissions and legal requirements for starting a fish farming business in your area.

(3) Calculate the cost

Before you start your fish farming firm, you need to do a thorough cost analysis. The estimates will differ depending on the sort of fish you plan to farm, the total land area available, and the intended production. The cost of a project will vary depending on its size and scope.

(4) Right location for fish farming is Essential

When choosing land, there are a few things to keep in mind. It covers factors such as soil quality, size, and water source.

Choose a large enough location. Also, think about your future objectives so that your company’s size does not hinder its growth.

The quantity and quality of fish you get are directly influenced by the soil quality. As a result, select a location with high-quality soil. You must test the soil to ensure that it contains at least 20% clay. Check the relative level of space as well.

(5) Secure a Land

Fish are generally environmentally friendly. So, simply look for an affordable piece of land and purchase it. The size of the site is mostly determined by the capacity with which you wish to operate. A half-acre plot of land will suffice for a typical fish farm.

(6) Construct Ponds

Fish ponds come in a variety of shapes and sizes. It could be a concrete or earthen fish pond.

Each design of pond has benefits and drawbacks, but fish in an earthen pond tend to develop faster and are often more appealing than those in a concrete pond.

It is believed that fish in plastic tanks tends to be tastier.

(7) Construct and channel Water source

In a fish farm, a lack of water might spell tragedy. As a result, sufficient water must be accessible, which necessitates the excavation of a borehole.

The most suitable sources of water are those that are naturally available, such as river water and borehole water. Growing fish with rainwater or tap water from a chemically treated source is not recommended.

(8) Get Juvenile Fish

Small fish, around the size of a finger, is known as juveniles. You should purchase your juvenile from a farm that specializes in providing it. You must choose a high-yielding species of catfish or tilapia fish and ensure that it comes from a healthy farm.