Catfish Production and Processing Business Plan
Catfish farming has proven to be a very lucrative business not only in Nigeria but in the world at large. Fishes especially catfish are one of the major sources of animal meat in Nigeria, aside from pork and poultry. As a business, they offer an opportunity for catfish farmers to earn steady income and also provide employment opportunities for countless number of men and women.
One of the major customers for catfish farms in Nigeria are the major fast-food companies like Mr. Biggs, Tantalizer, Sweet Sensation and UAC followed by hotels, restaurants and then household consumers of fish. The high demand for fresh table-sized catfish and other semi-processed catfish derivatives has led to an increase in catfish farms springing up in many parts of the country.
However, there is a short fall in the supply of fish because most of the catfish farms in the country are overtly small scale producers and not with consistent supply of fishes all year round. Hence starting a catfish farm of your own either on a large or small scale is indeed a very wise decision as this will bring you immense financial benefit both in the short and long term.
Table of content
Executive Summary 4
Business Description 7
Products and Services 11
Market Analysis 13
Competitor Analysis 15
Sales and Marketing Plan 16
Operational Plan 22
Management Plan 25
Financial Plan and Projections 27
PATILAD Catfish Farm is a start-up catfish Farm that will be involved in production and processing of quality and affordable fresh table-sized catfish and other semi-processed catfish derivatives targeting consumers in southwest Nigeria and will be located in Osogbo Osun state.
PATILAD Catfish Farm will be established as a limited liability company owned by Dayo Adetiloye, Kemi Awe, and other investors. The farm will be managed and directed by Dayo Adetiloye, a veteran in the Agric industry with 8years experience and Kemi Awe, an experienced Agro-allied specialist with over 15years experience.
Products and Services
PATILAD Catfish Farm will sell Catfish products, including fresh table-sized catfish and other semi-processed catfish derivatives.
We also offer Kill–‐Cut–‐Wrap–‐Freeze (KCWF) services (e.g., traditional cuts in paper or cryovac packaging). Our products are hygienic, rich in protein and of high quality. We produce, process and package to meet standard organization of Nigeria and international standard.
Nigeria as the largest nation in African presently consumes about 1.5 million MT of frozen chicken annually and more than 60% of the chicken consumed in Nigeria is imported.
According to The Fish Farmers’ Association of Nigeria (FFAN), 1.2 million metric tons (MT) of frozen fish valued at N660 billion was imported into the country in 2014 alone and this was four times higher than what was produced locally, and exceeding the current industry capacity.
Competitors for PATILAD catfish Farm includes Choice Farms, Best Foods Global, Meat World Foods, Chi Farms, Obasanjo Farms.
PATILAD catfish Farm will establish its competitive edge through the expertise of its founders.
PATILAD Catfish Farm seeks N5 million in long-term financing to cover start-up costs, equipment, building expenses, and working capital.
Funding for the launch of the business will be provided primarily by equity from the partners and investors.
The business will reach positive cash flow in its 10th month of operation, allowing for expedited repayment of its loan obligations, as well as for dividends to be paid to the owners. Revenue will top N27 509 500 and gross margin will reach about N11 003 800 in the 1st year of operation.
Specification: Catfish Production and Processing Business Plan