Shrimp farming is a profitable business in the aquaculture industry. In fact, it is a multi-million dollar industry nowadays. And any individual can make a six-figure income from his or her small-scale shrimp farm.
The most interesting thing is, this business doesn’t demand any university degree at all. However, you must have some technical skills in farm management practice. In addition, the business demands dedication and routine checkups and monitoring.
Read: Highly Profitable Cash Crops for Small Farms
To get success, it is important to produce quality products. So you must get the resources in your hand to get enough knowledge about everything about shrimp farming. You must have the right knowledge about equipment, larvae, supplies, medicine, feed, feeders The business has immense export potential.
Frozen shrimp gives more profit to the owners rather than fresh shrimp for the domestic market. In this post, find valuable detailed information about starting a small-scale shrimp farming business.
Things To Consider Before Starting Shrimp Farming
If you’re serious about raising shrimp for profit, there are several questions you need to consider:
- How many types of shrimp species are there? Which ones should I raise?
- How much does it cost to get started?
- What type of food does shrimp eat?
- How do you feed growing shrimp?
- What enemies or predators do shrimp have?
- How much space do you need for raising shrimp?
- Are there any permits or licenses needed?
- Are there any associations, clubs, or organizations relating to shrimp farming and aquaponics where you can get support?
- How to test the water quality in the ponds? And what type of water quality you must maintain for your shrimp farm.
7 Steps to Start a Shrimp Farming Business
1. Understand the Local Demand
It is most essential to have in-depth information about the local demand and competition for shrimps. Do market research and get the necessary information on the local shrimp farming trade before jumping actually into the business.
2. Get Registration & License
Before you start your farm, contact the local authority. Check what licenses are essential for shrimp farming. Most states will require you to purchase an aquaculture permit in order to operate a commercial shrimp farm. In addition, register your business as per your states’ law.
For example, if you are from the United States, you can apply for a license from the Department of Agriculture.
3. Site Selection
The success of freshwater shrimp farming hugely depends on the pond or waterbodies you are using. You will need to select a pond that is not freshly dug. Newly dug ponds yield poor results in the first year. Because there is not enough supply of food available in the ponds. In addition, you must procure the juvenile shrimp from a commercial hatchery.
4. Establishing The Shrimp Farm
You can establish your shrimp farm in several different ways. It includes the pond, large tank, swimming pools, and any water containers. However, a natural pond yields the best shrimp production for commercial farming.
In addition, you will need to arrange a good flow of fresh water in the water body. To know the PH balance, you must test the soil. However, having a PH level of 6.5 is the best suitable for shrimp farming.
Shrimp are sensitive to pesticides and chemical-based fertilizers. So only add natural organic fertilizers to ensure plenty of natural food for your shrimp.
5. Stocking The Juvenile Shrimp
Before stocking, ensure that there are no harmful insects. If you find insects, use an organic method for removing these insects and larva. Check that there is no harm to other fishes.
In addition, a temperature within 6° F is the best suitable for juvenile shrimp. You can tock shrimp at the rate of 12,000 – 16,000 per acre. Lower stocking density increases the size of the shrimp. However, it decreases the total poundage of yield.
The most important aspect is starting a shrimp farming business is to choose and buy the desired juvenile farm.
Feed your shrimp twice a day. Use commercially manufactured special shrimp feeds. Start feeding when the shrimp exceed the size of 5.0 grams or greater. You can also use high-quality imported shrimp feeds.
You can start harvesting after 2 months of the stocking. However, you must check that the shrimps are grown as market size. There are two ways of harvesting. One is cull-harvesting and another is drain harvesting. According to the available infrastructure, you can opt for the best one.
It is important to match production levels and marketing strategies. Otherwise, you will need to arrange an adequate storage facility. It is important to collect more information before deciding to start a shrimp farm.
Shrimp Farming Guide – A valuable resource guide for serious individuals looking forward to starting a shrimp farming business.
Frequently Asked Questions on Shrimp Farming Business
How much does it cost to start a shrimp farm?
The cost of raising a shrimp farm will obviously depend on the size and production output. Approximately, a shrimp/ prawn farm of an area of 1-acre land will require an investment of $10,000.
How much money can you make shrimp farming?
The profit margin will largely depend on the location and the selling price of shrimps. On average, one can make around 35% gross profit margin in the shrimp farming business.
Presently Shrimp farming business is a billion-dollar industry. Any individual can start this business right from scratch without any special qualification.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their business. Our aim is to educate the entrepreneur on the various stages of entrepreneurship.