GOMBE STATE UNIVERSITY

FACUALTY OF SCIENCE
COURSE CODE: GENS 301
COURSE TITTLE: INTRODUCTION TO
ENTREPRENEURSHIP SKILLS
QUESTION:
WHRITE A BUSINESS PLAN OF NOT MORE THAN FIVE (5) PAGES
INVOLVING AN ADVERTISEMENT ON GOVERNMENT DAILIES
REQUESTING INTERESTED PERSONS TO APPLY IN VARIOUS BUSINESS
AREA.
ASSIGNMENT
BY
ABUBAKAR MUSTAPHA
UG14/SCCS/1066
JANUARY 2017
INTRODUCTION
Fish farming falls under the animal production sector of Agriculture, which can also be described as
Aquaculture. Aquaculture is the farming of aquatic organism — fishes, crustaceans, mollusks etc., in
fresh, salty or brackish water. Fishes are a known source for protein, and fish farming involves the
planned growth and cultivation of fishes in tanks or proper enclosures for harvesting as food or
commercial purpose.

As we all know that, fish farming is the process of rearing fish in a control volume of water. Fish farming is a
very lucrative business and a profit maker all year round. The reason for its profitability can be
attributed to the fact that it is a food and it is always in demand. In fact, the demand for fish
can never be met because of the massive population we have especially here in Nigeria.

There is so much money to be made in aquaculture (Tilapia fish farming, catfish farming,
shrimp, prawn and lobster breeding); if done right. There are so many businesses you can
invest in and still make huge profits! You don’t have to bang your head developing software’s
or importing and exporting; you can go into fish farming, and still be successful.

What Is Fish Farming

Fish farming business (aquaculture) involves the planned growth and cultivation of fishes in tanks or
proper enclosures for harvesting as food or commercial purpose.

BSINESS PLAN FOR FISH FARMING

Executive summary

The company:-

Musa Power Breeders (MPB) will provide hard to find tropical fish to aquarists who do not have access
to these fish through local pet stories. Musa power breed will ship live fish to its customer’s doors
anywhere in the state. YPB will also provide fish to tropical fish retailers within the local area. YPB will
provide convenience and variety not found in the traditional tropical fish selling industry.

Musa Power Breeders assets will consist of livestock watering troughs and aquariums. The tanks and
troughs will be enclosed within an insulated steel building. Musa power breeders will be a sole
proprietorship by the founders Musa Ibrahim. Mr. Musa plans to operable the business completely by
himself for the first four years. As sale increase, he will bring on a general assistant to help will all
aspect of operations.

Company Description:-

Musa Power Breeders (MPB)will be a privately owned tropical fish breeding business we will offer rare
catfish species to customers throughout the local government. Our customers do not have access to the
species we offer through their local fish shops.
Musa power breeders will consists of eighty 80 gallon livestock watering troughs and fourth gallons
aquariums totaling 12,600 gallons of water. The tanks and troughs will be enclosed by an insulated steel
building built on a concrete slab. Breeding stocks will be housed in the 80 gallons troughs. Fertilized eggs
will be moved from the troughs to the 30 gallons aquarium prior to hatching in most cases.

The company will be local at the owner’sresidence Kwami local government area and drilled borehole
will serve as a source of water.

Market Analysis:-

This marketing agent are process that the goods and services pass through before they are offered for
sale.

Musa power fish breeders considers the need fish by the people around as well as neigh boring
community fish keeping is the second most popular hobby if not first in agricultural secto

Competitive Analysis:-

Business in agricultural market are having a comparative firm. There is no monopoly or imperfection of
market because there are several business similar to this enterprise. This rises the issues of competition
and its controls but there are so many advantages to this enterprise went competition such as high
educational qualification and professionalism.

ORGANIZATION AND MANAGEMENT

Management is the act of handling, direction, administrating and controlling of the members of farm
toward the achievement of the aims objectives and goals of the organization.

This organization is non-governmental organization its operational system is under the leadership of
farm manager. The culture of the organization is to take care of both fish and staff of the farm. Because
if there is no staff in no fish, if there is no fish there is no farm.

ORGANIZATIONAL STRUSTURE OF THE FARM

Farm Manager/Director

Assist. Farm Manager

Store Keeper

Members of Staff

Description of Product/Services

When the product of a greater value are removed from the carcass, the substances and product
remaining still have value (by-product) some are edible some are not.
The farm services is a serious factors to consider, because fishing operation cannot be carried out by
only 3 to 7 people due to nature of farm services.

The farm most have to employ at least 15-20 people in the farm, because the fish farm feed three
square mill a day were last for one and half hour and remove it up to launch and dinner for one and half
hour for both, so that the fish will attain 2 week in the hierarchy section and four week in the nursery
tank.

Marketing and Sales:-

the marketing of fish is one of the cheap sources of protein and good substitute for recommended by
health practitioners.

There are many people living in Gombe State the market survey and analysis shows that there is high
demanded of portentous food. It is based on this the enterprise will focus mainly on producing the
products in commercial quantities. Sales forecast for at least one year of
operation

Unit one (1) year

- Personal Selling #100,000

- Retailer’s #92,000
- Others #0.00

Total #192,000
Cost Implication of the Business’s

Assets:

- Current #1,000,000
- Fixed #6,000,000

Total #7,000,000

Capital:

- Working capital #5,000,000

- Reserve #100,000

Total #6,000,000

General Total #13,000,000

FINANCIAL PROJECT FOR ONE YEAR:-

Farm required enough finance to manage the farm problems. It require finance from the bank to build
and boost farming operation.

Below are the table that shows the financial project foe one year.

Description:-

Turn over during the next year fish (15,000 * 2)Total = 30,000

Expenses of operational cost

- Capital project costs #500,000

- Finger lings (17,000 fish) #70,000
- Labor #120,000
- Feeding and medication #100,000
- Drawings #150,000
- Social responsibilities #80,000

Total #1,020,000

Profit before tax the project profit for one year operation.

CASH FLOW ANALYSIS

The findings of operational plans and market survey show the following cost implications.

Description:-

Assets:

- Land #250,000
- Fencing #120,000
- Mixing machine #80,000
- Hammer machine #3,000
- Alternator #60,000
- Pelletize #15,000
- Stand-by generator #45,000
- Motor van (for transportation) #100,000
- Storage building and facilities #120,000
- Fish ponds (2 ponds 17,000fishes) #250,000
- Finger lines (17,000 fishes) #15,000
- Labor #170,000
- Feeding/Medications #100,000
- Cash at hand #500,000
SUMARY/CONCLUSION:

In general Fish farming is one of the sweetable and profitable business thatwould apriciable to each and
every enterprise who tries it. In line to that, the following are the key points (in summary) of business
plan to be consider before starting a fish farming:

INTRODUCTION
Current Situation of aquaculture in Nigeria
Aquaculture Production in Nigeria
Aquaculture Policy Environment at National and State Levels
Success potential
Skills and abilities for success
Production feasibility

MARKET ANALYSIS
Overview
Product description
Financial projections
Competitors marketing analysis
Proposed Marketing Strategy

TECHNICAL ANALYSIS
Operational Details and Structure
Machinery/Equipment Requirements, housing, drugs and feeding
Raw materials and sources

MANPOWER REQUIREMENT, MANAGEMENT AND ORGANIZATION

Management
Personnel requirement
Organization structure

INVESTMENT ANALYSIS
Mathematical formula for catfish cost production in Nigeria
Capital/initial Cost
Pre-Operating Expenses