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Aquaculture Business Essentials: Species Selection, Marketing Strategies, Budget Planning & Regulations

Starting an aquaculture business requires careful planning. Knowing your product, marketing area, regulations, and budget preparation are essential. Selecting the right species, determining product form, setting prices, effective promotion, and choosing distribution channels are crucial factors. Understanding variable and fixed costs including labor, insurance, advertising, and legal fees is important. Focus on fish health management and compliance with regulations such as permits and quality control measures like HACCP. Tailor marketing strategies based on product differentiation, pricing, promotion targeting, and convenient distribution channels to attract customers effectively.

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Aquaculture Business Essentials: Species Selection, Marketing Strategies, Budget Planning & Regulations

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  1. Starting an Aquaculture Business • You MUST know where your product will be sold before you stock your fish: • Product definition? • Marketing area? • Current prices? • REGULATIONS?

  2. Important aspects • Selecting a species • Product form • Price • Promotion • Place

  3. Budget preparation • Variable costs • Fish • Feed! • Utilities • Capital equipment

  4. Budget preparation • Variable costs (cont.) • Expendable equipment • Processing • Distribution • Fish health managment

  5. Budget preparation • Fixed costs • Labor • Insurance • Advertising • Legal and consultation fees • Taxes

  6. Selecting A Species

  7. = SelectingA Species • Choose species with production information available.

  8. Competition Selecting a Species Farmed internationally Foreign wild Native wild Farmed domestically

  9. Selecting a Species If possible, provide variety

  10. The Four P's in Marketing

  11. Product Refers to market size and the degree of processing “Customers don’t want to pay full price for anything and they want to see how much they are saving.”

  12. Price - Where to Start? “Did you know that every unsatisfied customer transaction wipes out the total profits on 5 to 7 satisfied customers?”

  13. Promotion- depends on • Scale of operation • Resources available • Availability of product • Location of farm

  14. Promotion • Must be targeted to your audience. • Income level • Marketing location

  15. Place- depends on:

  16. Family Style · Atmosphere Service $15.47 $30.00

  17. Regulations • Focus on permits to

  18. Inspection Hazard Analysis Critical Control Point (HACCP)

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