Rabbit Fish Pond is a company that will breed two types of rabbitfish - Siganus guttatus and Siganus vermiculattus - in a pond located in Binmaley, Pangasinan. The company expects to incur startup costs of PHP 92,890 for pond preparation, construction of a caretaker's hut, water pump, and legal fees. Rabbitfish Pond aims to take advantage of the market potential for rabbitfish in Pangasinan, which is the largest producer of rabbitfish in the Philippines. The company plans to harvest the fish after 4-5 months for sale in local markets.
Rabbit Fish Pond is a company that will breed two types of rabbitfish - Siganus guttatus and Siganus vermiculattus - in a pond located in Binmaley, Pangasinan. The company expects to incur startup costs of PHP 92,890 for pond preparation, construction of a caretaker's hut, water pump, and legal fees. Rabbitfish Pond aims to take advantage of the market potential for rabbitfish in Pangasinan, which is the largest producer of rabbitfish in the Philippines. The company plans to harvest the fish after 4-5 months for sale in local markets.
Rabbit Fish Pond is a company that will breed two types of rabbitfish - Siganus guttatus and Siganus vermiculattus - in a pond located in Binmaley, Pangasinan. The company expects to incur startup costs of PHP 92,890 for pond preparation, construction of a caretaker's hut, water pump, and legal fees. Rabbitfish Pond aims to take advantage of the market potential for rabbitfish in Pangasinan, which is the largest producer of rabbitfish in the Philippines. The company plans to harvest the fish after 4-5 months for sale in local markets.
Rabbit Fish Pond is a company that will breed two types of rabbitfish - Siganus guttatus and Siganus vermiculattus - in a pond located in Binmaley, Pangasinan. The company expects to incur startup costs of PHP 92,890 for pond preparation, construction of a caretaker's hut, water pump, and legal fees. Rabbitfish Pond aims to take advantage of the market potential for rabbitfish in Pangasinan, which is the largest producer of rabbitfish in the Philippines. The company plans to harvest the fish after 4-5 months for sale in local markets.
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Rabbit Fish Pond
Group 6 Block 42 Members:
Kivin Bernabe
Genesis Fernandez
Gerald Gumapos
Von Mark Manuel
Norlyn May Prado
Auriane Jeneli Solano
I. Executive Summary Rabbitfish pond is a company that breeds Malaga fish Our focus is to breed two kinds of Malaga (Siganid) the Siganus guttatus and Siganus vermiculattus Rabbitfish pond is to be located at 154 Gayaman , Binmaley , Pangasinan. Rabbitfish Pond expects to incur the following expenditures at the start of the operation: Preparation of Fish pond Php 31,500 Construction of the Caretakers Hut 2,850 Water Pump 50,000 Legal Fees 8,540 Total Start-up costs Php 92,890 II. Introduction A. General Concept of Business Rabbit Fish Pond is a fish grower that will engage in producing rabbit fish. Rabbitfish Pond will engage in aquaculture production B. Product Description Malaga is a marine fish that is cultured commonly in Pangasinan. Rabbit Fish pond will be producing two kinds of Rabbit Fishes: Siganus Guttatus and Siganus Vermiculatus C. History
History of the Fish Industry in the Philippines
The fish is the main source of protein, it contributes a
big part for the economy in the Philippines. The demand for fish as food, which exceeds what can presently supplied, provides for further production. It creates job for millions of people. History of Culture Practices of Rabbit Fish in the Philippines
The early net cage culture practices for siganid was
described as put-and-take method. The culture of finfishes in the Philippines has taken two directions. D. Importance of the Study
To know and to research if there
is demand for Rabbitfishes in the markets. III. Industry Profile/Analysis A. Industry Overview
Binmaley, a town in Pangasinan, considered as
Fishbowl of the whole Region 1 Rabbit fish is a marine fish locally known as malaga (Ilocano), samaral (Tagalog), danggit, kitang (Visayan), mublad, turus (Bicol) and barangen (Pangasinan) It is easier to raise It is herbivorous Binmaley has the potential to become the largest producer of rabbit fish B. Supply Phillippines remain the leading rabbit fish in the world, with 226 metric tons of production. Pangasinan has the biggest contributor in the production, having a 24 percent share on the total production. Before, aquaculture industry is dependent on the wild for fingelings, but now, fishermen dont have to rely now on the wild. BFAR-NIFTDC have started to produce fingerlings Thus, the production of rabbitfish in our country is increasing. C. Demand
According to former BFAR Regional Director Nestor
Domenden, its focused on breeding rabbit fish. It has been served in popular restaurants alll over the country.. One of the reasons why consumers prefer rabbit fish is because it is herbivorous. D. Porters Five Forces Model
Rivalry Moderate Threat of substitute Moderate Buyer Power High Supplier Power High THREAT OF NEW ENTRANTS AND ENTRY BARRIERS Moderate SWOT Analysis
Strengths 1. High Rate of Return 2. Adaptability to Current Climate Condition 3. Less input cost and human intervention 4. Existing Pond
Weaknesses 1. High Price 2. Difficulty in promoting products 3. Early-stage struggle 4. Large number of substitutes Opportunities 1. High Local and Export Demand 2. Few Competitors 3. Collaboration with Experts
Threats 1. Natural Calamities 2. Future Entrants IV. Vision To become the leading supplier of rabbitfish in the Region One that is profitable, competitive and socio- environmentally responsible. Mission To provide supply of rabbitfish of fresh, well-bred and of high nutritional value that creates superior customer satisfaction and to capture profits in return that will be committed in improving the quality of our products and serve more consumers in the future. In doing so, we will behave ethically in conducting our business through collaboration with BFAR as well as on the other local farmers C. General/Specific Objectives
General Objectives We will maintain the trust and loyalty of the customers we acquire during its operations We will consistently make our business as the best provider of high valued products considering the social responsibility To have a safe and large pond to grow Rabbit fishes and consider further expansion to some other places Specific Objectives: To maintain the freshness and quality of the Rabbit fishes we offer in the market as it reaches our customers. To reap profits in order to continuously improve the quality of our products. To contribute larger market share in any place our business is in. D. Company Name and Logo E. Location / Vicinity Map V. Review of Literature VI. Market Feasibility Description of the Market Pangasinan is the largest producer of rabbit fish in the Philippines Binmaley is the largest producer of in Pangasinan Malimgas Public Market 4 out of 10 fish vendor sell rabbit fish Retail price Php200 Php300 Supply and Demand Rabbitfish certainly has a market potential in the business industry. One of the reasons is that National Conference and Workshop on the Biology and Culture of Siganids at the Mindanao State University in Naawan, Misamis Oriental has conducted Also, rabbit fish are more nutritious among other fishes. Marketing Mix Product Siganus Siganus Guttatus Vermiculatus Bright yellow spots Vermiculated pattern stripes
Can reach up to 500 Can reach up to 45
mm cm
0.75 - 1.10 kg 2.30 kg
Price Php160 240 Lower prices for frequent customers Seasonal and trade discounts
Promotion Attend seminars and collaborate with BFAR Feeding programs and local celebration Social networking sites Place 154 Gayaman , Binmaley , Pangasinan Dagupan and Urdaneta City Negotiate with distributors Offer low freight charges VII. Production/Technical Feasibility Site Selection Calm brackish water. Have salinity ranging between 22 to 30 ppt Have water depth not less than 3 meters during low tide. Have a temperature of 27-30C Example of Fish Pond Layout For Monitoring Types of Fish Disease Bacterial Diseases
Fungal Diseases
Parasitic Diseases
Physical Ailments Harvesting Malaga has a 60-day larva-rearing period
It takes four to five months before it can be harvested
and sold in the market. Post-Harvesting Immediately after capture, several chemical and biological changes take place in dead fish which can ultimately lead to rejection for human consumption because of spoilage. Fish post-harvest losses are significant, especially in developing countries. Estimated at 10 to 12 million tons, they account for around 10 percent of global capture and cultured fish. Health Benefits
Rabbit fish contains:
sufficient amount of protein essential fatty acids minerals Economics Due to their high costs, the brood stock, hatchery and integrated systems may need to develop as larger projects by private investors or subsidized by government. Process Flow Chart Disbursement Cycle
Order from suppliers
Record to Accounting Records
Payment of any accrued accounts Revenue Cycle
Sales
Cash Sales VIII. Organizational Feasibility General Manager
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