Things You'll Need
- Business plan
- Working capital
- Location suitable for aqua-farming
- Equipment and supplies for your chosen venture
- CPA services
- Legal services
Instructions
Decide on your product line, keeping in mind you'll also need to pick either fresh or salt water environments. Examples of products include oysters, clams, catfish, shrimp, ornamental fish, seaweed, and other aquatic plants.
Formulate a business plan. This is essential to obtaining working capital to purchase equipment, livestock or plants, pay laborers, and buy/lease an aquatic location such as ponds or netted off sea areas. You will need pumps, boats, means of securing livestock, nets, harvesting equipment, and other supplies such as feed.
Obtain legal advice about USDA regulations, local ordinances, waste disposal requirements and other potential liabilities. Retain a good CPA who understands the business of agriculture and if possible has experience in aquaculture.
Work your farm. It will take 6-18 months to realize positive cash flow. Plan accordingly. Keep in mind the usual farmer's complaints: bad weather, environmental fluctuations, poisoning, disease, and the rising cost of supplies.
Be prepared to market your wares -- and yourself! You will need to understand the supply chain and how market prices fluctuate for your incoming supplies and your products.
As you become successful, keep up with the technology. Farming is high tech; for example, crop farmers in the western United States use satellite imagery to study the makeup of their soil. They use the data in conjunction with GPS receivers on their fertilization tractors with computer technology to adjust how much fertilizer is dropped on a given segment of their farm. Each of the various aqua-stocks or aqua-crops have unique requirements to be produced with maximum efficiency.