How to Write a Feasibility Report on Starting a Small Scale Fish Farm

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The purpose of a feasibility report is to discuss the practicality and suitability of the project. The report also provides information about the desirability of the project, in this case a small fish farm, from the viewpoint of potential investors. Therefore, the report is crucial if you are applying for financial assistance, such as a grant or loan. In addition to descriptive text, the report should contain tables, charts, graphs, maps and photographs as appropriate. By writing the feasibility report, you will discover whether the fish farm is in fact viable. If not, the report will have saved you from wasting valuable time and money.

  • Write an executive summary. Answer the questions of who you are and why you want to start a small fish farm. Explain your business idea and summarize each of the follow-on sections. The executive summary must work as a stand-alone document for interested parties, who may read only the summary and the financial section before deciding to read the rest of the report. If you have trouble writing this section first, save it for last.

  • Do a site analysis and write about the results. Describe the property on which the fish farm will be located. Describe existing buildings on the property and list available natural resources, such as water and soil types. For example, note any streams, their water temperature and flow rate. Describe site access. Identify any environmental regulations with which the project must comply.

  • Describe the project design. Start with species selection, which can have a profound impact on success of a given project. Analyze the technical aspects of growing the species in light of any site constraints described in the previous section. Talk about how much tank space you will need, feed selection and availability, and fry or larvae sources. Show what the yield will be and how you calculated it. Describe how the product will be shipped and whether the fish will be fresh or frozen.

  • Include a market analysis. Review the markets for the chosen species and make preliminary market strategy recommendations based on the project design. For example, describe whether you will use a wholesale distributor or sell direct to restaurants and groceries and why. Identify who your competition is.

  • Write about your business organization. For example, describe whether the business will be organized as a sole proprietor, partnership, corporation or LLC. Describe the personnel who will fill the executive roles, the positions that will need to be filled, the skills required and whether the positions will be full-time or seasonal. Include a time and work plan for site development and initial construction.

  • Include typical business financial reports, such as cash flow and balance sheet. Define the startup costs, such as the initial purchase of tanks, piping, fry, feed, wages and veterinarian services. Describe how any borrowed funds will be paid back. Outline ongoing operating costs.

  • Write a conclusion with final findings and recommendations. Discuss the various aspects of the project in terms of viability and likelihood of success. Consolidate your argument based on the previously presented factual evidence and analysis.

References

  • Photo Credit SanerG/iStock/Getty Images
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