Aquaponics Business Plan
No matter what you are doing today? You may at some or the other times feel the urge to do something that can give bucks in bulk. There are many businesses to begin with and Aquaponics is one of them. Before start this business you should make an aquaponics business plan.
Before we dive deeper and know how this business can be carried out; we would like to give a brief overview of what Aquaponics actually is?
What is Aquaponics?
This refers to an ecosystem where fish and plants are reared together in a controlled environment. It can be considered a part of sustainable development. Water from fish tasks is used to grow plants. This water is enriched with nutrients produced from fish wastes and this in turn is used to supply nutrients to the plants.
Plants get their nutrients from fish water and this water is again recycled by plants and used in the fish tanks. Vegetables like as lettuce, tomatoes and spinach can be grown in this manner.
If done on commercial basis, this can yield lots of profit.
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How to begin?
If you are interested to take this business on commercial level then first of all; carry out complete research on commercial aquaponic farming, gather all the necessary information such as developing an Aquaponics farm, managing it.
Get advice from local Aquaponics farmer. Know about any registration requirements. Once, you have the sufficient details; it’s time to consult a qualified accountant who can help you to prepare a complete business plan showing expenses and profit from your Aquaponics farm.
This plan will include future forecasts, projected cash flow statements, start up costs and sales forecast. It will also include deep market analysis as well as marketing strategies that are used to sell fish as well as vegetables produced.
Now, choose the location where you wish to set up your Aquaponics farm as the location highly affects growth of plants and development of fish. It is advisable to have location with moderate temperatures and must be free from harmful chemicals.
Gather all the necessary equipments needed to start a\your business. These include fish tanks, water pumps and medium to grow plants. Get in touch with an Aquaponics professional to set up a perfect system that can yield good results.
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Last but not the least; get your business registered so that you can get required permits and licenses. Get registered with your local fishing department as your farm is meant for commercial use.
Obtain a sales tax certificate and a state tax identification number. Also get your Employee Identification Number from Internal revenue service so that you can easily comply with federal tax requirements.
Keep on getting guidance from Aquaponics professionals, farmers as this will lead to a better business growth. Advice from professional resources on regular basis can also help you a lot.
How much does Commercial Aquaponics Cost?
Basically, Aquaponics is a great way to go and earn $500or $1000 a week without much stress. However, here the question is how much it costs to earn the above mentioned amount.
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Now, if the Aquaponics farm is developed by the owner and everything is done by self then the cost is about $20,000.(an approximate figure). This cost is inclusive of buying new materials, labour cost, buying decent greenhouse or greenhouse materials and lots more.
This entirely depends on the area you live in. The location of Aquaponics farm matters a lot. Hence, if the location doesn’t support this ecosystem then chances are there for the cost to increase.
Locations with moderate weather are suitable as the ones with extreme hot or cold weather require maintenance cost. This will be an additional cost. In simple terms, it can be understood that the cost varies according to the location.
Hence, it becomes really difficult to provide complete estimate or we can say accurate figure. But yes, this can be around $20,000. On the other hand, if you want experts to come and build the Aquaponics farm for you then cost can increase up to $50,000.
Nothing can be said about the price because everything varies from person to person, place to place.
How much profit can one earn from this business?
Profit in this business entirely depends on the size of your farm and how well you are able to sell your produce. Keeping in mind the crop speciality of your local market, you can produce the same in your farm.
If you are having a single commercial plan then you can get net to net six figures and this can match the price of any wholesale supplier thus making more money. Serious investors must take note about the same.
Aquaponics is a business that is never affected by stock markets, political issues or drought conditions. It is an ongoing business following current trends. City planners are also keen to invest in Aquaponics as well as hydroponics system so that they can develop best quality food for growing urban population.
There are many farmers who are willing to use their land to set up commercial aquaponics however they lack sufficient investment. If you can manage one acre of land for setting up four portable farms then no one can stop you from being a millionaire in this business.
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As these can generate hefty income of $3, 00,000 or more from the entire acre land every year. In order to start in this way with four farms; just single investment of US $2.1 million is required.
There are various ways to succeed and earn handsome profit; for example; if you have your own land then you can sell some part of it to get the funds for first acre or just 10,000 sq. feet of installation. This means you are investing your own money in aquaponics business just to get it back with interest.
You can also refinance your land and use the proceeds for your first aquaponics installation. If we go in numbers then the calculation is as follows:
– Allotting 10,000 sq. ft of land for aquaponics business will allow you to install 30 portable farms costing from $80000 to $100000.
– ROI will be generated within 2 to 4 years depending on the type of crops you produce.
– Hiring full time employees (max 2 ) for a single installation
– This all will generate Net to Net $100000 per year.
– Four such installations will definitely make you a millionaire.
So, this is the magic of Aquaponics system only if applied and understood properly thus working with a definite system. Results are there however you need to have lot of patience as this is not a quick rich scheme.
There’s a hard work but then there are results as well. You should follow the aquaponics business plan attentively .
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