DAY CARE FEASIBILITY STUDY

Feasibility study

For

JIMMY KIDDIES HOME

8, Idejo Street, VI, Lagos State.

FEASIBILITY STUDY

A Feasibility study is the process of getting facts and figures about a particular business idea aimed at determining the success of a business in terms of profit potential and return on investment. It takes Cognizant of all the facts about the business site , production, making staffing, marketing and financial implications of the business venture.

FEASIBILITY STUDY OF FISH BUSINESS

FACTORS TO CONSIDER WHEN CARRYING ALL FEASIBILITY STUDY ON FISH FARMING BUSINESS

The following factors below may vary if you want to start a successful fish farm in Nigeria and they include:

* Location

* Cost of labour

*Cost of materials

*Cost of feeding the fishes

* Cost of fingerings ( fish sees)

* Type of water

*Marketing

*Distribution

 LOCATION

Location plays a vital role on fish farming as it helps decide the kind of fish pond to be constructed. Usually, areas with swampy environment can be useful for fish farming in Nigeria and earthen pond , a good fit for fish farm whether the location is swampy or have a high water retaining capacity, If you opt for a concrete pond ,the farmer should make provision for bore hole water supply or attentively he or she should buy water he should also provide a shade for the fishes and fingerlings.

COST OF LABOUR/MAN POWER

It could be cheap or expensive based on the location unless if you opt for eaten pond which is not expensive to create, concrete pond might require you to spend on labour, what ever the case may be, cost of labour is a very important factors to be considered when carrying out a feasibility study on fish farming.

COST OF MATERIALS

You are to find out the cost of the material you are going to use to kick-start your fish farming business, for example, if you want to build or excrete the pond, you would need to find the cost of cement, bricks etc

COST FOR FEEDING THE FISHES

The cost of feeding varies foreign feed are normally more expensive than local feeds. Example cupens is sold above five thousand naira why local food cost below four thousand five hundred naira, it could also opt in producing the feed locally, as it will even still maintain the eye level of protein in the feed just as in the foreign feed.

MARKETING

The marketing aspect is very vital when carrying out a feasibility study on how to start fish farming business in Nigeria. This determine by the market forces (the man that supply). One thing you should note in fish business is that the size of the fish determine the market.

Retailers, consumers and restaurants owners would prefer big fishes rather than small fishes so you would have to invest in your big fishes which will draw for you.

Finally, feasibility study on the market help you to know when your fish are on demand, when you're to supply them and give a fish farming an overview of what he needs to know about the fish business after which you can draw a fish farming business plan to help give you a focus on what to do as you start your fishing farming business.

PLANNING THE FISH FARMING BUSINESS

Going into Catfish farming involves the following steps

Step 1

Planning for fish farming business plan in Nigeria, invital steps.

Here one as to determine whether one what's to go into a big or small scale commercial venture, secondly the pond system to adopt re-circulatory system, earthen  pond or concrete/plastic pond or bolt.

Step 2

Land is a very critical aspect of fishing farming business plan in Nigeria. This is very important one has to acquire at least full plots of land in a suitable location this mean, you must consider good access road, closeness to market and labour. if the land is already available, it is good, then we apportion it as follows:

1 location of ponds

2 location of farm house

3 location of water supply

4 location of drainage facilities (the last point is very important, as you don't drain your water to constitute public nuisance)

Step 3

Water supply: The best water for fish farming is from bore hole. One or two must sulk to guarantee steady water supply. Overhead tanks for holding water should also be installed. The mechanism of pulping of water must be backed up. The system must not fail.

Step 4

Construction of pond:   It is advisable to engage the service of a consultant the success or failure of this subject depends largely on construction of standard ponds that can stand the test of time. Common causes of failure in catfish farming include over stocking, poor quality feeds, water pollution and bad species of catfish fingerlings.

METHOD OF MANAGEMENT OF THE PROJECT

The business been a small scale business enterprise will be managed as such, the owner is the administrator and the financial of the project. It is projected that only two worker will be enough for the production and marketing of the product.

OBJECTIVE OF THE FISHING BUSINESS

The objective of the business is to train and nurture a fingerling to a mature eatable fish and to supply them for sale at the market.

COST AND SOURCE OF FINANCE

The financial projection for the business is eight hundred thousand naira made of one sixty thousand naira fixed cost (including the cost of constructing the ponds and the purchase of the fingerlings) and two hundred and forty thousand naira for procurement of materials needed for building of the pond. If it is concrete we need block, cement etc Salaries of the two workers fixed at twenty thousand naira per worker per month and other expenses during the cost of establishment will be handled with the remaining cash.

MARKETING STRATEGY

The owner/ manager and the two assistant would market the mature fish to the store where frozen foods are been sold an also to be marketed to some families that may show interest to be buying from the company.

FINANCIAL PROJECTION AND PROFITABILITY

Cost of buying fingerlings                                    ₦250,00000

 Cost of Six months’ salary      

for the two workers at ₦20,000 each                         ₦240,00000

Logistics and other miscellaneous

for six months.                                                           ₦100,00000

Total cost of production.                                           ₦590,00000

Total fishes produce                                                       3500 pieces

Sales at ₦250 per fish                                               ₦87,5000

Projected expenses in a year  ₦550,000.00x3times = ₦1650,000

Add fixed expenses                                                      ₦160,000

Projected total expenditure                                     =  ₦181,0000

Projected sales for a year ₦87500x 3 times.             ₦2,625,000

Projected profit in a year =sales – expenditure

=₦2,62500 - ₦1810000                                                  ₦815000

Total project profit                                                 =       ₦815000

RISK ANALYSIS

The manager which is the owner bares the risk of the business since the business was finance by the owner and no loan was collected by him from bank.

1b) Identify the problems you may encounter in the course of the study. May outline the benefits of such business

Benefits of fishing business

1) It serves as food: Nigerians consume a lot of fish because it is a cheaper source of protein than cow meat of other sources of meat.

2) It create avenue for importing.

3) They start up cost is small when you compare it to the cost of setting up a cattle or poultry farm.

4) You're sure that with government support for the agric sector you can get a long time loan at single digit with interest rate, from agric banks belonging to the government and commercial banks who lend money set aside for farmers.

PROBLEMS THAT WE MAY  ENCOUNTER IN THE COURSE OF THE STUDY

Fish farming or Agriculture has its own set of issues which are

- Rearing fish in close quarters can lead to conditions that spread disease among the population, for one thing.

- Fish with trait that help them survive in fish farm and destruct genetics pool if they find their way into a wild population. These fishes have over many generations, becomes smaller and more delayed in their reaching sexual maturity.

ENTREPRENEURSHIP OPPORTUNITIES FOR BIOLOGY STUDENTS

Biology is an applied field of study built upon many disciplines for the purpose of achieving and maintaining the well being of individuals in an ever changing society. Biology curriculum aims broadly at developing life coping skills such as recording, measuring, communicating, observing, predicting, hypothesizing, inferring among others. These skills when acquired are useful for success in business and for problem solving and adaptation for national and individual development. Thus, the inculcation of these skills into the students will enable them on graduating to become self reliant and productive citizens, without waiting for government employment. The teaching of biology also helps to develop in learner scientific attitude such as open mindedness, patience, curiosity, honesty and objectivity.

 Furthermore, biology offers a lot of opportunity in various fields or subjects which can be taught for entrepreneurship ability among the students. These subjects will depend on the geographical locations and their biodiversity for the obvious reason that a student living far away from the sea need not be taught sea weed farming.

These available entrepreneurship opportunities include;

1.     Agriculture or Bee keeping: it includes the preparation of an artificial hire to attract the honey bee and once they colonize the honey can be extracted as when required the other products include bee wax.

2.     Aqua Culture; this includes composition fish farming. prawn farming and crab culture

3.     Aquarium: the fish used in the aquarium can be reared and the students can be taught to maintain aquariums .This is again a lucrative business with export market.

4.     Ecotourism: this is the most developing field where the students will be able to guide the tourist both foreign and domestic to show the bio-diversity.

5.     Floriculture: growing flowers for ornamental values and for export as well as for domestic market.

6.     Horticulture: growing fruits and vegetable. The products can be exported as well as can be used for domestic market.

7.     Insect pest and their control: to increase agricultural yield.

8.     Mushroom Culture: it is a source of protein and has good export market value.

9.     Poultry: rearing birds used for human consumption.

10.                        Preservation of soil fertility and prevention of spreading of the desert; Biological methods are having advantage over the others.

11.                        Sea Weed Culture: this includes intensive sea weed farming. Products include Agar, Agarose, machines, thickening agents.

12.                        Water Conservation: it is a must in many nations of Africa for agriculture and drinking.

These fields among others when properly practiced can increase the economic growth rate of Nigeria because of the export market potential thereby creating employment, this will also improve the life of those who cannot go for higher education. However it is the duty of the biology teachers to teach these entrepreneurial topics properly. For the biology teacher to inculcate entrepreneurship skills in students’ demands that she in addition to being the master of the subject will be able to spur the students’ interest in the subject through her method of teaching and attitude to the subject. According to Ukeje in Ezema (2000) a good teacher is one who in addition to transmitting knowledge and effective manner is also able to inspire the students to greater heights of achievement by guiding them to the full realization of their potentials.