One of the simplest ways to earn a side income in fish farming is to sell lures. Fish farming is not for those who want to work long hours at sea, but it can be a lucrative side business. It requires a certain amount of dedication and the willingness to spend long hours out on the open sea. The only downfall of this business is the long, unsocial hours. However, the rewards are well worth it – you can enjoy doing something you enjoy.
Selling lures is a great way to make money in fish business
As a craftsman, you could start a business by selling fishing lures to other anglers. The lures can be any design you like, but most of the time they are painted to look like small fish. You can work with a local fishing store or sell them to other anglers on consignment. Make sure that your packages are appealing to your customers, and start marketing your products at local tackle stores and sports equipment stores.
Catfish farming is a lucrative side hustle
If you have good farming land and like to catch fish, you can start a catfish farm and earn money from it. While you need some initial capital to start a catfish farm, it will be worth it once you see the profits from it. You can also rent space on your property for growing fish. Make sure to do your research before acquiring land. If you’re not sure where to begin, you can get started on Airbnb.
‘Open Sea’ fish farming requires unsocial working hours
‘Open Sea’ fish farmers live in remote, often unsociable locations near the water. They may live on residential barges off the western coast of the UK, and work long hours in shifts. They can be alone for long periods of time and work up to 40 hours a week. Some jobs require heavy lifting and working from boats. ‘Open Sea’ fishermen may also be isolated from other workers.
Government assistance
There are many government programs available to help you start or expand your fish business. The NOAA Fisheries Finance Program, for example, offers long-term financing for commercial fishing operations and aquaculture facilities. The program also offers refinancing for existing loans and has no early repayment penalties. Small businesses further down the supply chain are not considered fisheries-related businesses and therefore are not eligible for this assistance. However, you can learn about other fisheries-related programs from the USDA Small Business Administration.
Cost of starting a fish farm
You might be asking yourself the cost of starting a fish farm. Well, there are two types of costs to consider. The first is the one-time setup cost, which is approximately N1.7 million. The second cost is the on-going cost, which will be around 50 percent of the total. The other two types of costs are the fixed and ongoing costs. For starters, you need to feed the fish, which are usually a mixture of fish meal and soybean meal.
Yasir Asif has expertise in SEO and digital marketing.
