It’s pretty likely that you’re reading this article because you’ve considered launching an aquaponics business.
Some experts claim that it’s a great business idea, while others argue it’s not but, one thing is certain: it is not a simple business.
That’s mainly because it necessitates taking in a great deal of information, as well as investing a significant amount of your time and money at first. But, the beautiful thing about aquaponics is that once you get the system up and running and understand how to manage it, it becomes self-sustaining. So, what are the things you should think about, and what do you need to know?
Well, let’s take a look.
Who is Your Main Rival?
Aquaponics produces premium-quality, organic products that are not mass-produced. This is why aquaponic products are more expensive than conventional produce, and, in fact, the goal of an aquaponics entrepreneur is to climb above these items rather than compete with them. You won’t be able to compete on price, so you’ll have to compete on quality.
Companies that employ traditional soil farming or fish ponds that mass-produce and sell at lower prices are competitors in the aquaponics market. Unfortunately, they are a danger to aquaponics. If aquaponics items aren’t well-marketed, this low pricing will eat up the entire market.
What distinguishes aquaponics from other forms of agriculture?
An aquaponics farm is a long-term investment and fewer maintenance expenditures are associated with a sustainable farm. This is one of the characteristics that distinguishes aquaponics. Once you’ve mastered the system, it will function smoothly, and you will only need to check it once a day. It will turn into a mini-ecosystem that you will just have to feed with fish food. You can raise feeder fish within the system if you want to create a truly sustainable habitat.
Many people are put off by the high amount of capital required for aquaponics, but what they don’t realize is that with this amount of money, you can establish a farm with two products, and eventually even more. Vegetables have a different market than fish, which means you’ll have more opportunities to sell and make more money.
How much will it cost?
Expenditure varies depending on the size of your aquaponics system, but most large-scale aquaponics systems start at $100,000 US, which includes the first few months of maintenance costs when you are still producing plants and fish and thus unable to harvest. The mechanics and materials utilized in aquaponics systems are what drive up the price. You’ll need materials that are durable enough to last for years, so you don’t have to worry about things breaking down.
The monthly maintenance costs of aquaponics systems vary depending on their size; on average, they cost $3000US per month to maintain. This already covers the cost of fish feed as well as the cost of energy.
How many people will be required to manage the company?
You have complete control over the number of employees you hire, but the number of helpers you hire will impact how quickly you harvest. Harvesting 200 pounds of crops will take about eight hours for four persons. It will make a difference if you add one more person to your crew, and doubling the number will take half the time it took four people to harvest.