Free feasibility study on dry fish marketing in Agbani, in Nkanu West local Government Area of Enugu State, Nigeri

Free feasibility study on dry fish marketing in Agbani, in Nkanu West local Government Area of Enugu State, Nigeri
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ABSTRACT
        One of the most essential nutrients the body required is protein, and fish is one of the best sources of protein. 
it is obvious that the majority of people in Nigeria like eating fish (especially dried one) because of the quality amount of protein it contains for this reason, many people usually engaged themselves in dry fish marketing. This study was specially designed for those who may wish to start up dry fish marketing business in Nkanu West Local Government Area of Enugu State, but Agbani to be specific. In the study, it is clear that only what you need to start up this business is N157,000 and you stand a chance of marking up of N53,000 every month. The payback period is 2 months and 3 weeks, so after then, the owner will start enjoying. The net present was 370, this indicate that the project is viable. Only the owner is required in this business, no labourers that are required, so he/she has the full control of the business. This study was carried out in Agbani. Agbani is a headquarter of Nkanu West Local Government Area of Enugu State. It has a well structured marked built by State Government. This makes all the marketing activities in Agbani so easy and simple when compared with other neighbouring town.
INTRODUCTION
        In Nigeria, there are unlimited want in Fish consumption. Fish consumption accounts for about 35% of animal protein consumption in Nigeria. In turn, fish farming is a vibrant and dynamic commercial sector in Nigeria, ripe with investment and employment opportunities. Recent data show that Nigeria produced just over 600,000 metric tons of fish in 2007. Consumer demand, on the other hand, was reported at 2.66 million metric tons, and was met only in part by import of about 746,000 metric tons that same year.
        There are different varieties of fish such as fresh fish, smoke fish and dry fish. This study is basically on dry fish which was proven to have a longer shelf fish compare to other type of fish (fresh or smoked fish). There are different types of fish in the aqua culture, but the feasibility study is focused on dry fish which the level of demand in the market is increasing day by day.
        However, there are about 25,000 species of fish identified all over the world and about 280 species found in Nigeria waters.
PURPOSE OF THE STUDY
        The purpose of this study is to gain knowledge on the processes that are involved in the marketing of dry fish. It is also aimed at determining the profitability analysis of dry fish in Nigerian marketing system. This study will help all those who want to venture into fish business as an occupation, to have a vivid idea on fish marketing; it will also serve as a reference journal to students who want to write any feasibility study on catfish or other different type of fish.

SCOPE OF THE STUDY
        Dry fish marketing is another source of business that put cool money into your pocket. Many women in different part of Nigeria are engaged in fish marketing (which dry fish is one of the key Areas). Marketing of dry fish required less risk when compare with smoke or fresh fish handling, this is the reason many people like engaging in dry fish marketing.
        This study is carried out in Agbani market. Agbani is in Nkanu West Local Government Area of Enugu State, Nigeria. It is the town where Enugu State University of Science and Technology (ESUT), is located. Agbani is the Headquarter of Nkanu West Local Government Area of Enugu State.
METHODOLOGY
Location: The business is to be located in Agbani Main market because it is the best place for it to be sited so that the product (dry fish) will be available to Agbani household and ESUT students (especially those ones who live in the school hostel and nearby market).
SOURCE OF RAW MATERIAL
        The raw material which is the dry catfish should be gotten from Ogbete Main market and New Market in Enugu town. It can also be gotten from other wholesalers who usually bring their product from different parts of the state to the local market to sell. Selecting any of the above is also very profitable. 
MARKET CONCENTRATION
Sampling Techniques; About 20 dry fish sellers in Agbani Market were administered questionnaire, to determine; the quantity of fish they sold per unit price. The challenges involve in the marketing of catfish.
Oral interview was administered to individual who had no formal education.
ESUT students and some other buyers of dry catfish products was also interviewed to know the extent they consumption dry catfish.
Demand Projection
        Though the market is competitive in nature, the information gotten from the respondents are so reliable that am totally convinced that there will be a greater increase in consumption of dry catfish, if there be more suppliers.
MARKET DISTRIBUTION
        The local marketers shall serve as the middle men between the wholesalers and the consumers in the distribution of the product in the locality. 

TECHNICAL INFORMATION
        This business is to be carried out in Agbani Main Market. It is a well structured market which will boost the marketing of dry fish. Although the dry fish marketing is competitive in nature, but the numbers of dry fish sellers is not so much that it will put the seller in a great risk. Considering the increase in population in Agbani due to ESUT students, it is obvious that the demand will be increasing on daily bases. 
Building
        Agbani market already have a well structured building which was built by the State Government, so the seller don’t need to construct any artificial building, all you need to do is to pay for one shop and occupied it.
Furniture: the only furniture needed in this business area are; a table and a chair (either plastic or wood chair).
Manpower
        Only the owner is needed in this business.

FINANCIAL ANALYSIS
Items
Unit
Amt/Unit
Total Amt
Table
Chair
Basket
1
1
3
8000
1000
300
8000
1000
900
Total


N9,900

Operating Expenses
        This operating cost is on the average of large, medium and small size of the dry fish and that of the basket.
Item
Qty/Week
Qty/Month
Amount/Basket
Total Amt/ Month
Dry fish
Store/shop
2 baskets
-
8 baskets
-
18,000
-
144,000
3000
Total



147,000

Summary
Equipment = N9900
Store/shop = N3000
Dry fish = N144,000
Total Revenue per Month
A basket = 100 pieces of fish
A fish is sold at the rate of N250
A basket of fish = 250 x 100 = N25,000
8 baskets (a month) = 25,000 x 8 = N200,000

Payback Period
Months
Cash flow
1
2
3
4
5
53,000
53,000
53,000
53,000
53,000

Fixed cost = 9900\ 144700 + 9900 = 156,900
This indicates that it will take 2 months and three weeks to recovers  the money invested in the business.


Net Present Value
Month
TR
VC
Cash flow
Discounting factor (20%)
Present value
1
2
3
4
5
200,000
200,000
200,000
200,000
200,000
147,000
147,000
147,000
147,000
147,000
53,000
53,000
53,000
53,000
53,000
0.33
0.69
0.57
0.48
0.40
43990
36,570
30,210
25,400
21,200





N157,370

 The initial outlay for the business is N156,900
Approximately N157,000\ present value = 157,370 – 157,000 = 370
Payback period = 156,900 = 2.296

                            53,000
This indicates that the project is viable and it should be continues.
Cost Estimates
        The total estimated cost for this business is N157,000. This will cover the amount for shops, 18 baskets of dry fish which is to be sold in a month, table, chair etc.

Risk and Uncertainty
        There are some uncertainties that may likely involve in this business. The temperature and relative humidity should be well examined because these may cause deterioration of the fish. So when there is increase in relative humidity, the owner should subject the fish to sunlight or dry it using smoke. This will help to prolong the shelf life of the product.

JUSTIFICATION
        The project proposal should be accepted since enough profit is involves because any marketing process always aim at making profit.

CONCLUSION AND RECOMMENDATION
        From the value of the input and outcome of the output, this project t is economically viable based on the above data. It is therefore recommended for your support and supervision.
        The owner (seller) must always be fare the customer and also create a friendly relationship with them since the business is competitive in nature. These will make the customer to be coming always.
        Lastly, the owner must be single to the customers, because simplicity is the secret of any business.
Please note; this is a locally random, feasibility study for a local village woman, who need to start up a small scale business in a local setting.
Chris Farm Nigeria develops well self explanatory feasibility studies/business plan on different kinds of business, especially on productions, farm business (the livestock and crop production world), mini, middle and large scale businesses. Our feasibility study and business plans are developed so well down to show you; how much it will cost you to own your desired business. It will give you a clear picture of what your money can afford. The kinds of product you will need to minimize input in other to maximize out, and how much returns you will get at the end of five years projection. It also went folder to show you, when the business will break-even.This will give the intending business person/farmer/investor, a vivid idea on the possible benefit he/she stands to gain, when he/she starts doing the business.

All these and many more are contain and discussed in details under the following subtopics below;
·        Defining the industry
·        Unique valve
·        Innovation opportunities
·        Its market need/social problem its address.
·        Innovation  concept
·        Is the product or service feasible?
·        Targeted  market/beneficiary
·        Market size
·        Market characteristics
·        How to bring this ideal to live?
·        Social/economic value
·        Viability of the concept
·        Diagram of the farm
·        The farm organizational structure
·        Sample of the poultry house
·        Cost of constructing the farm or firm
·        Machines/equipment cost
·        Estimated utility bills
·        Total cost of owning the above farm or firm
·        Total sales on the farm for the first year
·        Break-even analysis
·        Profitability 
·        5years graphical projection
·        Bar chart representation of the projection.
·        Bar chart representation of the projection. 

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Are you interested in fish management?
Are you interested in spawning (fish hatching)?
Do you want to handle your fish farm business yourself?
Do you want to run a fish farm business?
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“How to own, manage, and make millions from catfish farming business”  
  
 CONTENT                                                                                                                      pages
·         Title Page …………………………………………………………................................1
·          Table of Content……………………….…………………………………….………...2
·         Dedication …………………………….……………………………………….…….....5
·         Acknowledgement ……………………..………………………………….…………...5
·         Preface …………………………………..………………………………......................6
·         Chapter One: Introduction
·         1.1       Catfish ……………………....….……………………………………....……...8
·         1.2       Why is catfish different from other fishes? .......................................................8
·         1.3       Fish classification ……………………………………………….....….....…....9
·         1.4       Habitat………………………………………………………………......…….10
·         1.5       Morphology ………………………………………………………...…...…....10
·         Chapter Two:
·         2.0 Giant Catfish of the World……………………………………………….............17
·         2.1       Scientific classification …………………………………………...............….18
·         2.2       SPECIES CHARACTERISTICS……….………………………….....……...18
·         Chapter Three:
·         3.0       Catfish Family……………………………..……………………….....…...…22
·         3.1       Larval production …….………………….……………………..…............…23
·         3.2       The culture system ...……………………..………………….…...............…..23
·         3.3       Feed and Feeding ……………………………..…………………...................23
·         3.4       Hybridization of catfish ………………………..………………....….............24
·         3.5       Culture system modification ………………….….…………..........................24
·         3.6       Prospect and problems of cultured fish ……….......................….....………...24  
·         Chapter Four:
·         4.0       How to own a Mega fish farm Business……............................….....….…….26
·         Chapter Five:
·         5.0       Pond…………………………………………………..………..........…...…...29
·         5.1       standard features of a fish pond ………..……………................................….29
·         5.2       Types of pond ………………………………………………….................….30
·         5.3       Earthen (Natural) Pond …………………………………..........................…..30
·         5.4       Concrete Pond …………………………………...........………….…..............33
·         5.5       Tarpaulin/Plastic/ Mobile Pond ………………………....................…......….34
·         5.6       Step in fish Pond establishment ……….......................……………................35
·         5.7       Important of liming …………………………………...............……......….....36
·         5.8       Fertilizing a pond …………………………………………….................……37
·         5.9       Fish Pond management ………………………………….…...........................38
·         Chapter Six:
·         6.0         Fish Stocking ……………………….…………………….....….......……….40
·         6.1Stocking of fish can take the form of mono/poly-culture...................................….40
·         Chapter Seven:
·         7.0       channel catfish …………………………………………..................................41
·         7.1       Species of channel catfish .................................................................................42
·         6.2       Life cycle of channel catfish ……………………………….....................……42
·         Chapter Eight:
·         8.0       The Electric Catfish ………………………….........………….......…………..44
·         8.1       Feeding in electric catfish …………………………..............….......…………44
·         8.2       Firing in electric fish …………………………...........…………………..........46
·         8.3       Importance tips in managing electric catfish ….……...................................…47
·         Chapter Nine:
·         9.0       African Giant catfish ………………………………………...................…….49
·         9.1       Habits of African catfish in the wide ………................................…………....50
·         9.2       Natural spawning in the wide ……………….…..………................................50
·         9.3       Rearing of African giant catfish ……………….………...........................……50
·         Chapter Ten:
·         10.0     Spawning …...…………………………………………………............….......54
·         10.1     Hatching techniques in catfish ……………….…......................…........……...55
·         10.2     materials needed for (hatching) spawning …...............................................….55
·         10.3     Prerequisite for (Hatching) spawning in catfish ...............................................55
·         10.4     Steps in (hatching) spawning ……………………....................….......………56
·         10.5     Some reasons why spawning (Hatching) falls …........................................….63
·         10.6     Characteristics of catfish stages ………………...................................………63
·         10.7     Transportation of catfish ………………………..….............................…...…65
·         Chapter Eleven:
·         11.0     Fish Management …………………………………....................................…67
·         11.1     How to identify oxygen Depletion in ponds...........................................….…68 
·         11.2     Questions most people ask about catfish management ……...........................68
·          
·         Chapter Twelve:
·         12.0     Fish parasite and Diseases ………………………………..............................75
·         12.1     Fish Disease ………………………………………………........................…75
·         12.2     Causes of Diseases ………………………………………......................…...76
·         12.3     Types of Disease ……………………………...........…………….....………76
·         Chapter Three:
·         13.0     Fish preservation …………………….............…………………….........…..84
·         13.1     Method of fish preservation ………………….......................……......…......84
·         13.2     Fish salting ……………………………………………...…..........…......…..84
·         13.3     Drying and Dehydration ………………………................……….......……..86
·         13.4     Fish smoking …………………………………………….......……..........….87 
·         13.5     How to smoke fish …………………………………………….....................88 
·         Chapter Fourteen:
·         14.0     How to make millions from catfish production ….........................................90
·         14.1     Advertising ………………………………………...………..…...............…90
·         14.2     Marketing …………………………………………………….................….91
·         14.3     Marketing strategy …………………………...............…………….........….91
·         14.4     How to sustain millions in catfish business…….............................….......…93
·         List of figures
·         Fig.1.1 Labeled diagram of a typical tilapia fish .......................................................12
·         Fig 1.2 labeled diagram of a typical catfish ……………..........................……....….13
·         Fig 1.3 Labeled diagram of a typical external anatomy of a tilapia fish ....................14
·          Fig 1.4 Labeled diagram of a typical external anatomy of a carpio cyprisnus...........14 
·         Fig 1.5 Labeled diagram of a typical internal anatomy of a tilapia fish......................14
·         Fig 1.6 Typical example of catfish …………………………………….…..........…...15 
·         Fig 8.1 Diagram of electric catfish organs …………………………….……....….....45
·         Fig 9.1 claries gariepinus sample …………………………………………......……..50 
·         Fig 9.2 Heterobranchus Bidorsal Sample ………………………………….....….….51
·         Fig 10.1 Diagram on how to inject the catfish ……………………….......................57
·         Fig 10.2 Diagram on how to extract the milt (sperm) from catfish ……....…...…….59
·         Fig 10/3 Diagram on how to strip off eggs from catfish and to fertilize them …........61
·         List of tables
·         Table 2.1 scientific classification of catfish ………………........…………...….……19
·          
·         Table 3.1 catfish families ………….……………………….………………..........…22 
·         Table 5.1 table showing water retention in soil ……………......…………....………32
·         Table 8.1 scientific classification of electric catfish ……………......……...…..……44
·         Table 9.1 African Giant catfish ………………………………….….………...…..…49
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