FISHERY BUSINESS

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Catfish business

by Owokorodu Maryam


How much capital did you use to set up this business?

1. LAREX FISH FARM was established August 2018 with just 400k including construction of ponds, fingerlings (catfish) and buying of feeds.

2. Did you share the capital with another person, or it’s sole proprietorship?


The capital is sole proprietary. I run the business myself.

3. How have you been able to cope with the constant power outage in this location?

Electricity is a bit better in my area(community) but we use generators, if there's power outage.


4. What other challenges do you face?

There are so many challenges in the business right now.
1) power outage : (cases where there’s no light for me to pump water for the fish )
2) high cost of fuel and electricity tariff
3) high cost of fish feeds and medications. 


5. How satisfied are you with the sales traffic?

The sales traffic has really dropped over years because of the high cost of production... Also the fact that too many people are into the business. 

6. How do you procure your products?

We procure our feeds from the local feed Mills around e.g bomka feeds enterprise ikorodu epe Road by nasfat mosque akasoleri ikorodu



7. How much is the estimated sales per month?
 
We don't sell per month because it takes 4 to 5months to grow the fish to table size. 
But due to the high cost and change in price of feeds, its very hard to calculate the amount you would make from each production but you can make 35% to 40% of the capital you invest with in business after 4 to 5months

8. Where did you see your self in the next 5 years ? 


The Nigeria economy isn't helping the business right now, so I don't know where I see myself in 5years in the business.


9. How did is you intend to support the Nigeria economy and the society ?


Paying Tax , also enlightening people who are interested in the business, telling them my mistakes so they can learn from it .

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