EXECUTIVE SUMMARY

Marvel Fish and Sea Foods Ltd is a duly registered and licensed business that is

set to operate in inner city, Awkunanw, Enugu State. The business is a private

owned fish farming business that will be owned and managed by the Ozor

Marvel Chinelo

The business will focus on raising various species of fish, and the sales of

numerous sea foods such as catfish, Tilapia fish, etc. In our first five years, we

will operate on a medium-scale, after which, we will expand our fish farming

business into a much grander scale; providing our products and services to

customers all over the Enugu State.

As part of our plans and preparation in starting up our fish farming business, we

have been able to come up with an estimate of the startup capital that will be

required. A total sum of N550,000 will be needed to startup our fish farming

business.

INTRODUCTION

Catfish is the "king" of U.S. aquaculture in terms of pounds produced and total

value. The majority of catfish production occurs in the South, in the states of

Mississippi, Alabama, and Arkansas. This southern delicacy is raised in earthen

ponds filled with well water and fed a floating, grain-based diet. Catfish has a

mild flavor and is high in protein and low in calories. The most commonly
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cultured species is the channel catfish, Ictalurus punctatus, although a hybrid

between the channel catfish and the blue catfish, Ictalurus furcatus, is growing

in popularity. Channel catfish are a warmwater species with an optimal

temperature for growth of 85°F (29°C). In the wild, catfish are omnivores,

feeding on a wide variety of animal and plant materials. In culture ponds, fish

are fed a complete diet, typically composed of soybean meal and other seed or

grain products, with only a small amount of animal protein

OUR PRODUCTS AND SERVICES

Marvel Fish and Sea Foods Ltd is a fish farming business that will put

everything in place for the raising of fish and the sales of sea foods to

consumers all over Awkunanw and the Enugu State. In the course of running

our fish farming business, we will focus on the following:

 Growing and selling of finfish such as catfish, tilapia, trout, etc.

 Growing and selling of ornamental fish such as goldfish.

 Growing and selling of shellfish such as oysters, shrimp, mollusc, clams,

etc.

VISION STATEMENT

Our vision in the fish farming industry is to establish a business which will

become reputed as the number one leading fish farming business in Awkunanw,

and among the top five (5) leading fish farming brands in the whole of the
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Enugu State. We have set out some business objectives which we hope to

accomplish as best as possible:

 To provide shipping services to our customers at affordable fees.

 To report more than N15,000 in sales every month.

 To sustain an inventory revenue ratio of six.

MISSION STATEMENT

Our fish farming business will be a standard fish farm which will be focused on

providing quality products and services, that cannot be found anywhere else, to

customers. We will be solely focused on providing nothing short of the best of

our products – a variety of species – to our customers wherever they are in the

Enugu State. Our products and services will be distinct from the usual ones

customers get from other fish farms.

BUSINESS STRUCTURE

Marvel Fish and Sea Foods Ltd is a fish farming business that will be a private

owned business. We have established the structure of the business in such a way

as to facilitate our business growth and success.

The fish farming business will be owned by the James Hamilton Family. The

business will first be run and operated by Mr and Mrs James Hamilton within

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the first five years, after which, more employees will be employed to handle the

business as it continues to expand. In view of the above, we will hire employees

to take up the following positions:

 Fish and Sea food Farm Manager.

 Cashier / Accountant

 Sales Executives

 Field Employees.

MARKET ANALYSIS

Market Trend

One notable trend in the industry is the fact that fish farmers and health experts

leverage on the health benefits of fish and sea foods in promoting the fish

farming business and products. Fish is not only a very great source of protein,

but also a very healthy source of fats and omega fatty acids.

Target Market

Our target market encompasses the following groups of people:

 Consumers

 Industries

 Distributors

 Agriculture merchants.
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SALES AND MARKETING STRATEGY

In the course of running our fish farming business, we have been able to hire

experts who will provide their services in setting out fine fish sales and

marketing strategies to help us beat the competition and always stay ahead. We

have been able to come up with the following strategies to promote our fish

farming business:

 We will ensure to first introduce our fish farming business to prospective

customers in the whole of Awkunanw. We will do this by handing out our

business fliers and encouraging our friends and family to make use of

word of mouth to help us promote our business.

 We will place adverts on business magazines, local newspapers, and radio

and television stations in Awkunanw.

 We will create a website for our fish farming business, and take

advantage of the internet and social media platforms such as Facebook in

promoting our business.

 We will create special promo and loyalty programmes to build a good

customer base.

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SALES FORECAST

Below is the sales forecast for our fish farming business for the next three years:

Year One                    N280,000

Year Two                   N560,000

Year Three                 N850,000

This sales forecast is a calculated estimate which is only based on some reliable

sources.

FINANCIAL PLAN

Source of Start-up Capital

A total sum of N550,000 is what we will require to start up our fish farming

business in Awkunanw. This startup capital will be used properly to get all the

needed equipment and resources in place to get started with our fish farming

business.

The startup capital will be sourced from our savings in the bank, from my

extended family and from my trusted friends. We have been able to come up

with N200,000, which we hope to raise to N250,000 as part of our

contributions. N200,000 will be borrowed from my extended family, while the

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final N100,000 will be borrowed from both of my close friends, Teague and

Louis.

Revenue and Profit

The most important part is of course the eventual profit that will be made by

this fish farm. Our Fish farm would produce about 5800 full grown Tilapia filets

every half year (that is because on average 200 out of the 6000 fish will not be

suitable for sale). For the sale of the fish, we have made an arrangement with

the urban butchery ‘’Super Cut Ltd.’’, who are willing to buy our fish at 280

KSH per kilo. However, we are also looking into the possibility of selling the

fish to local fishmongers in Eldoret itself, what would increase the selling price

even more.

When the Tilapia fish are full-grown, they weigh about 1-1,5 kilos each. Taking

an average weight of 1,25 KG, this would come down to a revenue of approx.

2,030,000 KSH per half year, or 4,060,000 KSH per year. This is a conservative

estimate, using the lower price offered by Super Cut Ltd, the fact that some fish

might weigh less than others and the fact that some fish might not be suitable

for sale. This comes down to a yearly revenue of approx. €39,077.

The yearly costs consist of the rent of the land at €242 a year (even though we

would pay for the first two years of rent), the monthly salary of the supervisor

on site at 87*12 = €1044, the maintenance costs (including fish feed) of

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213*12= €2556, miscellaneous and unforeseen costs (including electricity) at

€2500, and the initial fish stock of 6000 fish one every six months, coming

down to 2*900= €1800. The total yearly costs will thus be €7142, which results

in a yearly profit of €30,935.

Long-term plan

A second fish farm

In anticipation of growth, a quarter acre of land was rented to allow for enough

room to build a second fish farm. Furthermore, the start up costs of this would

be significantly lower. Electrical installation, land, bore hole and water tank will

all have already been paid for. Ideally a second fish farm would be up and

running in June 2016, allowing Redhill Baraka School to benefit from four

harvests of fish per year. This would equate to approximately €60,000 profits

per year. A second fish farm would allow for four staggered harvests per year,

which would not only increase profits but importantly also be a fail-safe and

provide an economical buffer in case one of the harvests got infected by disease.

CONCLUSION

This business plan is a fish farming business plan. It bears the business title

“Holly Family Farms Ltd”. The fish farming business will be owned by the

James Hamilton family. It will be located at a very large plot located in inner

city, Awkunanw, Enugu State. The startup capital that is needed for this fish

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farming business to start is a total sum of N550,000, which will be sourced from

various sources.