HOW TO WRITE A FEASIBILITY REPORT FOR STARTING A SMALL SCALE FISH FARM

Fish farming or aquaculture is a growing industry full of opportunities due to the increased demand for fish as a source of important nutrients for healthy living. A small scale fish farm is relatively easy to establish since the requirements are minimal and the start-up costs are not overwhelming. A feasibility report analyzes an intended project in terms of its viability, start-up costs and profitability. An ideal small scale fish farming feasibility report should include the following steps.

Step 1
Introduction:

The introduction part of the. feasibility report should outline the importance and the advantages of small scale fish farming. Explain your project fully in this section. Outline briefly how the project will be rolled out, how you plan to benefit from the project and the processes that will be involved. Basically it is a summary of the small scale fish farming project.

Step 2
Description of the project:

In this section, clearly outline the project’s location, the environment surrounding it and the availability of the resources required to start a small scale fish farm. Highlight the project’s mission and vision. Business goals and the objectives should also be included. Also include a brief history of the project and what motivated you to start the fish farm.

Step 3
Market description:

Describe the type Industry you will be operating in, whether you will be selling your products as a wholesaler or a retailer. Identify your target market and how yon plan to penetrate that market. Outline the marketing strategies you will employ to market your fish.

Step 4
Description of your products:

Highlight different species of fish that will be rearing. Describe how you selector those species. Explain the pricing of your products and the competitive edge your fish products have over other products in the market.

Step 5
Organization plan:

Outline the legal structure under which the small scale fish farm will operate, whether it will be e sole proprietorship, partnership or a limited liability company. Identity the type of permits and licenses that will be required for the project. Explain the number of staff and their qualification that will be necessary to successfully run the Fish farm. Outline how they will he organized in terms of duties and responsibility

Step 6

Illustrate how you plan to conduct your market research to identify how you will segment your market and how you plan to satisfy each market segment. Market segmentation entails identifying the different portions of the market that are different from one another terms of lifestyle, income levels, location and spending habits. E«olain the strategies that will be used in the sale and distribution ofyour fish to each market segment to satisfy their unique needs. Also include the strategies you will employ to effectively compete with your competitors in the market

Step 7
Financial management:

Identify the intended sources of capital for your fish farm and how you plan to use this capital in your venture. Outline how the profits will be used to enhance the fish farm and the measures that will be put in place to prevent or reduce losses. In this step you should also be able to show the projected cash flow statement, income statement and the balance sheet statement for the next 12months.

Step 8
Conclusion:

Give, your recommendations and conclusion in this section on the viability of the small scale fish farm.

Source:
https://writaz.com.ng/steps-to-take-in-writing-a-feasibility-report-for-starting-a-small-scale-business/