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Starting an Aquaculture Business. You MUST know where your product will be sold before you stock your fish : Product definition? Marketing area? Current prices? REGULATIONS?. Important aspects. Selecting a species Product form Price Promotion Place. Budget preparation. Variable costs
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Starting an Aquaculture Business • You MUST know where your product will be sold before you stock your fish: • Product definition? • Marketing area? • Current prices? • REGULATIONS?
Important aspects • Selecting a species • Product form • Price • Promotion • Place
Budget preparation • Variable costs • Fish • Feed! • Utilities • Capital equipment
Budget preparation • Variable costs (cont.) • Expendable equipment • Processing • Distribution • Fish health managment
Budget preparation • Fixed costs • Labor • Insurance • Advertising • Legal and consultation fees • Taxes
= SelectingA Species • Choose species with production information available.
Competition Selecting a Species Farmed internationally Foreign wild Native wild Farmed domestically
Selecting a Species If possible, provide variety
Product Refers to market size and the degree of processing “Customers don’t want to pay full price for anything and they want to see how much they are saving.”
Price - Where to Start? “Did you know that every unsatisfied customer transaction wipes out the total profits on 5 to 7 satisfied customers?”
Promotion- depends on • Scale of operation • Resources available • Availability of product • Location of farm
Promotion • Must be targeted to your audience. • Income level • Marketing location
Family Style · Atmosphere Service $15.47 $30.00
Regulations • Focus on permits to
Inspection Hazard Analysis Critical Control Point (HACCP)