aquaponic farming business plan pdf

Aquaponics Business Plan Template

Written by Dave Lavinsky

Aquaponics Business Plan

You’ve come to the right place to create your Aquaponics business plan.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Aquaponics businesses.

Below is a template to help you create each section of your Aquaponics business plan.

Executive Summary

Business overview.

Growing Green Aquaponics is a startup aquaponics farm located in Salem, Oregon. The company is founded by Bob Hall, an experienced horticulturist who has gained valuable knowledge on how to grow food using aquaponics during the past ten years while working at Healthy Grown Aquaponics. Now that Bob has experienced managing an aquaponics farm, he is ready to start his own company, Growing Green Aquaponics. Bob is confident that his aquaponics skills, combined with his understanding of business management, will enable him to run a profitable aquaponics company of his own. Bob is recruiting a team of highly qualified professionals to help manage the day-to-day complexities of commercial aquaponics farming – sales and marketing, crop production, greenhouse management, fish farm management, budgeting, purchasing, financial reporting, system maintenance, and customer relations.

Growing Green Aquaponics will provide a wide selection of produce for grocery stores, restaurants, and individual consumers. Growing Green will be the go-to aquaponics farm in Salem for fresh produce available all year round. The company will be the ultimate choice for customer service while offering the best produce prices in the area.

Product Offering

The following are the products that Growing Green Aquaponics will grow and sell:

Customer Focus

Growing Green Aquaponics will target B2B customers in Salem such as local grocers, specialty food stores, and restaurants. The company will also target D2C customers including farmers market shoppers and customers who come directly to the farm to purchase produce. No matter the customer, Growing Green Aquaponics will deliver the best communication, service, and the freshest produce.

Management Team

Growing Green Aquaponics will be owned and operated by Bob Hall. Bob is a graduate of Oregon University with a degree in Horticulture. He has over ten years of experience working as an aquaponics technician for another local farm. Bob will be the company’s Chief Executive Officer and the Head Aquaponics Technician. He will oversee the production process, aquaponics system, and technician staff’s activities.

Bob has recruited a business management expert, Linda Flores, to be the company’s chief operating officer and help oversee aquaponics’s business operations. Linda will handle the day-to-day operations, including budgeting, vendor relationships, and logistics.

Bob and Linda have recruited an experienced marketing director, William Rivera, to become a member of the Growing Green Aquaponics management team. William is a graduate of the University of Michigan with a Master’s degree in Marketing. Bob and Linda rely on William’s expertise to execute the company’s marketing plan and advertising strategies.

Success Factors

Growing Green Aquaponics will be able to achieve success by offering the following competitive advantages:

• Skilled team of aquaponics technicians and horticulture experts who will oversee the growing process and conduct inspections regularly to ensure all produce is of the highest quality.
• Growing Green Aquaponics makes it easy for customers to obtain the company’s products with multiple ways to shop. Businesses and consumers can purchase produce online, onsite, or at various local farmers markets. They can choose to have the produce shipped on a regular schedule, delivered on-demand, or picked up onsite. Additionally, customers can come to the farm and hand-pick their produce themselves.
• The company offers competitive pricing and discounts for regular customers.

Financial Highlights

Growing Green Aquaponics is seeking $800,000 in debt financing to launch its aquaponics business. The funding will be dedicated towards securing the facility and purchasing aquaponics farm equipment and supplies. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff and marketing expenses. The breakout of the funding is below:

• Facility build-out: $340,000
• Aquaponics equipment, supplies, and materials: $280,000
• Three months of overhead expenses (payroll, utilities): $160,000
• Marketing costs: $10,000
• Working capital: $10,000

The following graph below outlines the pro forma financial projections for Growing Green Aquaponics.

Company Overview

Who is growing green aquaponics.

Growing Green Aquaponics is a newly established aquaponics company in Salem, Oregon. Growing Green will be the first choice for local grocers, restaurants, and consumers in Salem and the surrounding communities for its fresh produce available all year round. The company will sell its crops to local B2B customers and D2C consumers on-site and at farmers markets.

Growing Green Aquaponics will be able to guarantee the freshness, quality, and availability of its produce all year round thanks to the latest and most innovative aquaponics technology and a stringent quality control process. The company’s team of highly qualified professionals experienced in aquaponics, horticulture, and agriculture will manage the completely vertically integrated indoor farm. Customers can get a first-hand look at how aquaponics works by taking an aquaponics tour, participating in the company’s farm-to-table events, and picking out fresh produce straight from the facility.

Growing Green Aquaponics History

Growing Green Aquaponics is owned and operated by Bob Hall, an experienced horticulturist who has gained valuable knowledge during his ten year tenure working as an aquaponics technician at another local aquaponics farm. Now that Bob has gained the experience and knowledge of how to manage an aquaponics farm, he is ready to start one of his own. Bob has begun recruiting a team of highly qualified professionals to help manage the day to day complexities of commercial aquaponics farming – sales and marketing, crop production, greenhouse management, fish farm management, budgeting, purchasing, financial reporting, system maintenance, and customer relations.

Since incorporation, Growing Green Aquaponics has achieved the following milestones:

• Registered Growing Green Aquaponics, LLC to transact business in the state of Oregon.
• Has begun negotiations to purchase the property.
• Reached out to numerous contacts to include local restaurants, grocers, and farmers markets to start getting vendor contracts.
• Began recruiting a staff of accountants, aquaponics technicians, maintenance workers, and sales personnel to work at Growing Green Aquaponics.

Growing Green Aquaponics Services

The following will be the crops Growing Green Aquaponics will grow and sell:

Industry Analysis

The global aquaponics industry was valued at an estimated $872.7M and is expected to grow by a compound annual growth rate (CAGR) of 12.9% to reach $1,807.29M by the year 2028. North America is the leading region in market share due to its focus on advancements in aquaponics technology and a growing demand for organic food, followed by Asia and Europe. The Organic Trade Association reports an increase of 5.6% in organic fruit and vegetables sales in a single year in the United States. Aquaponics is an attractive option for health and environmentally-conscious consumers who are looking for sustainable organic foods free from pesticides and chemicals.

The aquaponics market is highly fragmented with a handful of major players and an expanding global market for emerging companies making up the rest of the market share. Industry operators can achieve a competitive advantage by selling high quality, in-demand produce, effective marketing campaigns, and keeping up with local food trends.

Customer Analysis

Demographic profile of target market.

Growing Green Aquaponics will target B2B customers in Salem such as local grocers, specialty food stores, and restaurants. The company will also target D2C customers including farmers market shoppers and customers who come directly to the farm to purchase produce. No matter the customer, Growing Green Aquaponics will deliver the best communication, service, and freshest produce.

The precise demographics for Salem, Oregon are:

Customer Segmentation

Growing Green will primarily target the following customer profiles:

• Grocery stores
• Specialty food stores
• Restaurants
• Farmers market shoppers
• Individuals looking for fresh, clean, organic produce

Competitive Analysis

Direct and indirect competitors.

Growing Green Aquaponics will face competition from other companies with similar business profiles. A description of each competitor company is below.

Healthy Grown Aquaponics

Healthy Grown Aquaponics is one of the largest commercial aquaponics farms in Salem, Oregon. The company grows a variety of crops including tomatoes, cucumbers, lettuce, herbs, leafy greens, and eggplant. Healthy Grown Aquaponics sells its produce to local restaurants and grocery stores. Healthy Grown Aquaponics aims to deliver high quality organic produce grown through its innovative aquaponics process. The company uses a  stringent inspection process to ensure all of its products are the best quality. Healthy Grown Aquaponics’s team of experienced aquaponics professionals inspect each crop weekly to ensure optimum quality.

Salem Aquaponics

Salem Aquaponics is a small aquaponics farm catering to local restaurants, grocers, and farmers markets in Salem, Oregon and surrounding areas. Salem Aquaponics provides fresh produce including tomatoes, cucumbers, herbs, and squash all year round. The company provides tours of the facility to local schools for a nominal fee. The owners of Salem Aquaponics are former restaurant managers and farm-to-table supporters so they understand how important it is to the community for restaurants to have fresh produce that is locally grown.

Sustain-Able Aquaponics

Sustain-Able Aquaponics is a trusted Salem, Oregon-based aquaponics farm that provides superior produce to consumers in Salem and the surrounding areas. The company is able to provide a wide variety of fruits and vegetables using its state-of-the-art aquaponics equipment. Sustain-Able Aquaponics serves local grocers, specialty stores, and individual consumers with guaranteed fresh produce all year round. The company prides itself on being the number one choice for sustainable produce and its contribution to the growing farm-to-table movement.

Competitive Advantage

Growing Green Aquaponics will be able to offer the following advantages over their competition:

• Skilled team of aquaponics technicians and horticulture experts who will oversee the growing process and conduct inspections daily to ensure all produce is of the highest quality.

Marketing Plan

Brand & value proposition.

Growing Green Aquaponics will offer the unique value proposition to its clientele:

• Growing Green Aquaponics provides flexibility in how customers can shop. Customers have the option to purchase produce online, onsite, or at various local farmers markets.

Promotions Strategy

The promotions strategy for Growing Green Aquaponics is as follows:

Social Media Marketing

The company’s marketing director will create accounts on social media platforms such as LinkedIn, Twitter, Instagram, Facebook, TikTok, and YouTube. He will ensure Growing Green maintains an active social media presence with regular daily updates and fun content to get customers excited about aquaponics.

Professional Associations and Networking

Growing Green Aquaponics will become a member of professional associations such as the Aquaponics Association, American Fisheries Society, and the Oregon Aquaculture Association. The leadership team will focus their networking efforts on expanding the company’s vendor network.

Print Advertising

Growing Green Aquaponics will invest in professionally designed print ads to display in programs or flyers at industry networking events. The company will also send direct mailers to local restaurants and grocery stores.

Website/SEO Marketing

Growing Green Aquaponics will utilize the in-house marketing director that designed the print ads to also design the company website. The website will be well organized, informative, and list all the produce that Growing Green is able to provide. The website will also list information on the company’s events and guided tours.

The marketing director will also manage Growing Green’s website presence with SEO marketing tactics so that when someone types in a search engine “Salem aquaponics farm” or “aquaponics farm near me”, Growing Green Aquaponics will be listed at the top of the search results.

The pricing of Growing Green Aquaponics will be moderate and on par with competitors so customers feel they receive value when purchasing the company’s produce.

Operations Plan

The following will be the operations plan for Growing Green Aquaponics.

Operation Functions:

• Bob Hall will be the CEO and Lead Aquaponics Technician. He will oversee the aquaponics technicians, production process, and the aquaponics system maintenance. Bob has spent the past year recruiting the following staff:
• Linda Flores – Chief Operating Officer who will manage the budgeting, vendor relationships, and logistics.
• Susan Smith – Staff Accountant/Bookkeeper will provide all accounting, tax payments, and monthly financial reporting.
• William Rivera – Marketing Director who will oversee all marketing strategies for the company and manage the website, social media, and outreach.
• Jessica Mitchell – Quality Control Manager who will oversee all inspections of products, equipment, and processes.

Milestones:

Growing Green Aquaponics will have the following milestones complete in the next six months.

9/1/2022 – Finalize contract to purchase property.

9/15/2022 – Finalize personnel and staff employment contracts for the Growing Green Aquaponics management team.

10/1/2022 – Begin build-out of the facility, purchase equipment, and start production.

10/15/2022 – Begin networking at industry events and implement the marketing plan.

11/15/2022 – Finalize contracts for initial grocery, farmers market, and restaurant vendors.

1/15/2022 – Growing Green Aquaponics officially opens its facility up to customers and starts shipping out online orders.

Bob has recruited a business management expert, Linda Flores, to be the company’s Chief Operating Officer and help oversee aquaponics’s business operations. Linda will handle the day-to-day operations, including budgeting, vendor relationships, and logistics.

Bob and Linda have recruited an experienced marketing director, William Rivera, to become a member of the Growing Green Aquaponics management team. William is a graduate of the University of Michigan with a Master’s degree in Marketing. Bob and Linda rely on William’s expertise in the company’s marketing plan and advertising strategies.

Financial Plan

Key revenue & costs.

The revenue drivers for Growing Green Aquaponics are the fees charged to customers in exchange for the company’s products. When it comes to pricing, the farm will monitor production costs, average prices charged by competitors, and product availability in the market to ensure its prices will generate a healthy profit margin.

The cost drivers will be the overhead costs required in order to staff an aquaponics farm. The expenses will be the payroll cost, utilities, greenhouse equipment and supplies, and marketing materials.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Average pounds of produce sold per month: 9,000
• Average fees per month: $15,000
• Overhead costs per year: $640,000

Financial Projections

Income statement, balance sheet, cash flow statement, aquaponics business plan faqs, what is an aquaponics business plan.

An aquaponics business plan is a plan to start and/or grow your aquaponics business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can  easily complete your aquaponics business plan using our Aquaponics Business Plan Template here .

What are the Main Types of Aquaponics Businesses?

There are a number of different kinds of aquaponics businesses, some examples include: Retail and Farm.

How Do You Get Funding for Your Aquaponics Farm Business Plan?

Aquaponics businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding. This is true for an aquaponics farming business plan and a commercial aquaponics business plan.

What are the Steps To Start an Aquaponics Business?

Starting an aquaponics business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop An Aquaponics Business Plan - The first step in starting a business is to create a detailed aquaponics farm business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your aquaponics business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your aquaponics business is in compliance with local laws.

3. Register Your Aquaponics Business - Once you have chosen a legal structure, the next step is to register your aquaponics business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your aquaponics business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Aquaponics Equipment & Supplies - In order to start your aquaponics business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your aquaponics business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

Aquaponics Farm Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Agriculture Industry » Crop Cultivation » Greenhouse Farming

Are you about starting a commercial aquaponic farm? If YES, here is a complete sample aquaponics business plan template & feasibility report you can use for FREE.

If you have been looking to start a business that is agriculture related, then you may want to consider starting an aquaponics business. This is one area of trade that sure can guarantee good returns on your investment. However, just before you begin to build this business, it becomes expedient that you garner all the knowledge and skills that you are required to, so that you do not start out on the wrong footing.

One of the foremost steps that you will need to take is the business plan step. This is a very expedient path that you should be willing to walk so that you can get things write. Here below is a sample aquaponics business plan;

A Sample Commercial Aquaponics Farm Business Plan Template

1. industry overview.

There are several business opportunities available in the agricultural industry and one good thing about the industry is that there is market for all the produce from the industry.

Over the years, researchers and scientist have been researching on ways to improve crop cultivation especially in areas where the soil composition and climatic condition does not support the growth of certain crops (cash crops, food crops et al).

So also engineers have been improving on their invention as regards mechanized (commercial) farming et al. The agricultural industry, of which Aquaponics business is a subset of agriculture; and is no doubt among the leading industries in most countries of the world. It is the industry that produces food for the populace and raw materials for industries.

Because of the significant roles the agriculture sector plays, the government of most countries ensures that they go all the way to subsidize seedlings, fertilizers, and farming implements and machinery for farmers and also encourage entrepreneurs to go into Aquaponics business.

Aquaponics business essentially talks about any system that combines conventional aquaculture (raising aquatic animals such as snails, fish, crayfish or prawns in tanks) with hydroponics (cultivating plants in water) in a symbiotic environment.

In standard aquaculture, excretions from the animals being raised can accumulate in the water, increasing toxicity, while in an aquaponic system, water from an aquaculture system is fed to a hydroponic system where the by-products are broken down by nitrification bacteria into nitrates and nitrites, which are utilized by the plants as nutrients, and the water is then re-circulated back to the aquaculture system.

Basically, aquaponics comprises of two key parts, with the aquaculture part for raising aquatic animals and the hydroponics part responsible for growing plants; Hydroponics is simply a method of growing plants using mineral nutrient solutions in water, without soil. Players in this industry generally cultivate food crops under glass or any form of protective cover.

The Aquaponics Farming industry is indeed a fast growing industry and pretty much active in countries such as united states of America, Japan, China, Germany, and Singapore et al. The companies that has dominate market share in the industry are Nature – sweet, Village Farm and Houweling’s.

Statistics has it that in the United States of America alone, there are about 2,307 registered and licensed Aquaponics farming – companies responsible for employing about 7,939 and the industry rakes in a whooping sum of $848 million annually. The industry is projected to enjoy 5.3 percent annual growth.

One thing is certain about aquaponics farming, if you are able to conduct your market research and feasibility studies; you are more likely not going to struggle to sell your farm produce because there are always food processing companies and consumers out there who are ready to buy from you.

Lastly, with aquaponics farming, you can afford to combine both crop cultivation and animal husbandry or you can decide to only specialize in the cultivation of crops or rearing of animals i.e. aquatic animals and the hydroponics. The bottom line is that if you do not have enough land (space) and you are interested in maximizing aquaponics farming, you are sure going to make huge profits from the business.

2. Executive Summary

Jade and Julius Aquaponics – Farms, LLC is a licensed agro – allied company that will be based in the outskirt of Smethport Pennsylvania – United States. We have done our detailed market research and feasibility studies and we were able to secure a 25 hectares of land to start our aquaponics farming.

Our aquaponics business is a going to be standard aquaponics farming business hence will be involved in both aquatic animals farming and hydroponics farming.

At Jade and Julius Aquaponics Farms we will be involved in the cultivation of crops such as; cucumbers, shallots, tomatoes, lettuce, chides, capsicum, red salad onions and snow peas, Chinese cabbage, lettuce, basil, roses, tomatoes, okra, cantaloupe and bell peppers, watercress, basil, coriander, parsley, lemongrass, sage, beans, peas, kohlrabi, taro, radishes, strawberries, melons, onions, turnips, parsnips, sweet potato, cauliflower, cabbage, broccoli, and eggplant as well as the choys that are used for stir fries.

We also will be involved in farming freshwater fish, crayfish and prawns, saltwater fish, called saltwater aquaponics. Tilapia, Barramundi, silver perch, eel-tailed catfish or tandanus catfish, jade perch and Murray cod, Koi and goldfish, channel catfish, rainbow trout, perch, common carp, Arctic char, largemouth bass and striped bass et al.

In the nearest future, hopefully within the first seven years of officially running Jade and Julius Aquaponics – Farms, LLC, we will start our food processing and packaging plant and also start exporting our agriculture produce to other parts of the world.

This is why aside from the fact that we’ve secured the required farming land and most of the farming equipment and machines; we have also hired some key employees who are currently undergoing training so as to be able to fit into the ideal picture of the 21st century aquaponics business workforce that we want to build.

We are in the aquaponics farming business because we want to leverage on the vast opportunities available in the Agriculture industry, to contribute our quota in growing the U.S. economy, in national food production, raw materials production for industries, to export agriculture produce from the United States to other countries and over and above to make profit.

Jade and Julius Aquaponics – Farms, LLC is well positioned to become one of the leading aquaponics farms in the United States of America, which is why we have been able to source for the best hands and machines to run the business with.

We have put process and strategies in place that will help us employ best practices when it comes to aquaponics farming processes and food processing and packaging as required by the regulating bodies in the United States of America.

Jade and Julius Aquaponics – Farms, LLC is a private registered agro – allied company that is owned by Dr. Julius Corey and family. The company will be fully and single handedly managed by the owner – Dr. Julius Corey and his immediate family members at least for a period of time.

Before starting Jade and Julius Aquaponics – Farms, LLC , Dr. Julius Corey was the Head of a renowned Agriculture Research Institute in The U.S. he worked in the industry for well over 15 years before resigning to start his own aquaponics business. Dr. Julius Corey is a known agriculture scientists.

3. Our Products and Services

Jade and Julius Aquaponics – Farms, LLC is an agro – allied company that will be involved in both aquatic animals farming and hydroponics farming for both the United States’ market and the global market. We are in business to produce both vegetable, fruits and fish in commercial quantities.

We will also ensure that we operate a standard food processing and packaging plant as part of our complimentary business. These are the areas we will concentrate on in our aquaponics farms. If need arises we will definitely add more agriculture produce to our list;

• Cultivation of freshwater fish and saltwater fish (Tilapia, Barramundi, silver perch, eel-tailed catfish or tandanus catfish, jade perch and Murray cod, Koi and goldfish, channel catfish, rainbow trout, perch, common carp, Arctic char, largemouth bass, triped bass crayfish and prawns, et al.)
• Hydroponic greenhouse tomato farming
• Hydroponic greenhouse cucumber farming
• Hydroponic greenhouse bell pepper farming
• Other hydroponic greenhouse vegetable farming
• Hydroponic greenhouse fruit production

4. Our Mission and Vision Statement

• Our Vision is to become one of the leading aquaponics farm brand not just in the United States of America but also on the global stage.
• Our mission statement as an aquaponics farm is to go into full – time cultivation of vegetables, fruits and fishes that will not only be consumed in the United States of America, but also exported to other parts of the world.
• We want our processed food to flood the nooks and crannies of the United States and other countries of the world.

Our Business Structure

Jade and Julius Aquaponics – Farms, LLC is family owned and managed aquaponics farms that is into the cultivation of vegetables and fishes.

At Jade and Julius Aquaponics – Farms, LLC, we will ensure that we hire people that are qualified, hardworking, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Operating Officer

General Farm Manager

Administrator / Accountant

• Crop (Vegetable) Cultivation Manager / Supervisor

Fish Farming Manager / Supervisor

• Sales and Marketing Executive
• Front Desk Officer

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
• Responsible for providing direction for the business
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Responsible for the planning, management and coordinating all farm activities across the various sections on behalf of the organization
• Supervises other section manager
• Ensures compliance during project executions
• Providing advice on the management of farming activities across all section
• Responsible for carrying out risk assessment
• Using IT systems and software to keep track of people and progress of the growth of crops, fishes, birds and animals
• Responsible for overseeing the accounting, costing and sale of farm produce after harvest
• Represent the organization’s interest at various stakeholders meetings
• Ensures that farming goals desired result are achieved, the most efficient resources (manpower, equipment, tools and chemicals et al) are utilized and different interests involved are satisfied. Responsible for preparing financial reports, budgets, and financial statements for the organization
• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Handles all financial transactions for the company
• Defining job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Oversee the smooth running of the daily farming activities across the various farming sections
• Defines job positions for recruitment and managing interviewing process
• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Responsible for financial forecasting and risks analysis.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Serves as internal auditor for the company

Crop (Vegetable and fruits) Cultivation Manager / Supervisor

• Responsible for managing the crop cultivation section of the aquaponics farm
• Handles hydroponic greenhouse tomato farming
• Handles hydroponic greenhouse cucumber farming
• Handles hydroponic greenhouse bell pepper farming
• Handles other hydroponic greenhouse vegetable farming
• Handles hydroponic greenhouse fruit production
• Supervises other workers within the department
• Works closely with the General Manager to achieve the organizations’ goals and objectives
• Responsible for managing the fish farming section of the aquaponics farm

Sales and Marketing Officer

• Identifies, prioritizes, and reaches out to new markets for our agriculture produce, processed food, new partners, and business opportunities within the agro – allied industry
• Develops, executes and evaluates new plans for expanding increase sales of all our agriculture produce and processed foods
• Documents all customer contact and information.
• Represents the company in strategic meetings
• Helps to increase sales and growth for the company

Front Desk / Customer’s Service Officer

• Welcomes clients and visitors by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s farm produce
• Manages administrative duties assigned by the HR manager in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to potential clients when they make enquiries

6. SWOT Analysis

Jade and Julius Aquaponics – Farms, LLC do not intend to launch out with trial and error hence the need to conduct a proper SWOT analysis. We know that if we get it right from the onset, we would have succeeded in creating the foundation that will help us build a standard aquaponics farm that will favorably compete with leading commercial farms in the United States of America and in the rest part of the world.

As a world – class aquaponics farms, we look forward to maximizing our strength and opportunities and also to work around our weaknesses and threats. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Jade and Julius Aquaponics – Farms, LLC;

Our strength as an aquaponics farm company is hinged on the fact that we have healthy relationships with loads of major players (agriculture merchants) in the agriculture industry; both suppliers and buyers within and outside of the United States.

We have some of the latest aquaponics farming machines; tools and equipment that will help us cultivate crops and fishes in commercial quantities with less stress. Aside from our relationship (network) and equipment, we can confidently boast that we have some the most experienced hands in the Aquaponics line of business in Des Moines, Iowa in our payroll.

Our weakness could be that we are a new aquaponics business in the United States, it might take some time for our organization to break into the market and gain acceptance especially from international markets in the already saturated and highly competitive agriculture industry; that is perhaps our major weakness. Another weakness is that we may not have the required cash to promote our business the way we would want to.

• Opportunities:

The opportunities that are available to us cannot be quantified, we know that everybody on planet earth eat farm produce. We are ready to take advantage of any opportunity that is available in the industry.

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of a new aquaponics farm in same location where our target market exist and who may want to adopt same Business model like us.

7. MARKET ANALYSIS

• Market Trends

As aquaponic growing operations are less vulnerable to weather conditions, the industry’s business locations vary considerably from the broader Vegetable Farming industry. On the other hand, large- scale commercial aquaponic production still tends to be concentrated in temperate climates with all year- round sunshine, giving room for the best quality and highest profit margins.

In view of that, large aquaponic farms are predominately located in Pennsylvania, California, New York, Vermont and Wisconsin which make up about one half of this industry’s revenue, while comprising about a third of the farms.

It is on records that revenue for the Aquaponics Farming industry has maintained positive growth. This is so because in recent time, a growing number of individuals shifted to healthy eating and consuming organic produce, resulting in high demand. In addition, extreme weather conditions spoiled many crops for fresh field farmers, so grocery stores and farmers markets quickly turned to hydroponic farmers to meet their demand.

One of the common trends in the aquaponics farming line of business is that most players in the industry are no longer concentrating only on non – organic farming. They now find it easier to run both organic crop cultivation and non – organic crop cultivation. It is fact that despite that organic food are expensive, the sale for organic food is on the increase and it is indeed profitable.

8. Our Target Market

Naturally, the target market of those who are the end consumer of aquaponics farm produce and also those who benefits from the business value chain of the agriculture industry is all encompassing; it is far – reaching.

Every household consumes produce from aquaponics farms be it vegetables, fruits, fish, crayfish and prawn et al. So also a large chunk of manufacturing companies depends on aquaponics farms for some of their raw materials. In essence a commercial farmer should be able to sell his or her farm produce to as many people as possible.

We will ensure that we position our business to attract consumers of agriculture produce not just in the United States of America alone but also other parts of the world which is why we will be exporting some of our farm produce either in raw form or processed form to other countries of the world.

Our Competitive Advantage

It is easier to find entrepreneur flocking towards an industry that is known to generate consistent income which is why there are more commercial farmers in the United States of America and of course in most parts of the world.

For example, Statistics has it that there were 2.2 million farms in the United States of America, covering an area of 922 million acres. These goes to show that there are appreciable numbers of farmers in the United States of America but that does not mean that there is stiffer competition in the industry.

As a matter of fact, entrepreneurs are encouraged by the government to embrace commercial farming. This is so because part of the success of any nation is her ability to cultivate her own food and also export foods to other nations of the world.

Jade and Julius Aquaponics – Farms, LLC is fully aware that there are competitions when it comes to selling aquaponics cum commercial farm produce all over the globe, which is why we decided to carry out thorough research so as to know how to take advantage of the available market in the United States and in other parts of the world.

We have done our homework and we have been able to highlight some factors that will give us competitive advantage in the marketplace; some of the factors are effective and reliable farming processes that can help us sell our produce at competitive prices, good network and excellent relationship management.

Our competitive advantage lies in the power of our team; our workforce. We have a team of hardworking and highly proficient farmers, a team with excellent qualifications and experience in various niche areas in the agriculture industry. Aside from the synergy that exists in our carefully selected team members, we have some of the latest and efficient aquaponics farm machines and equipment and we will be guided by best practices in the industry.

Another competitive advantage that we are bringing to the industry is the fact that we have designed our business in such a way that we will operate an all – round standard aquaponics farms that will be involved in diverse areas such as crop cultivation, fish farming, and food processing and packaging plant. With this, we will be able to take advantage of all the available opportunities within the industry.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (start – ups aquaponics farms in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Jade and Julius Aquaponics – Farms, LLC is in the aquaponics commercial farming business for the purpose of maximizing profits hence we have decided to explore all the available opportunities within the industry to achieve our corporate goals and objectives.

In essence we are not going to rely only on the sale of our farm produce to generate income for the business. Below are the sources we intend exploring to generate income for Jade and Julius Aquaponics – Farms, LLC;

• Sale of freshwater fish and saltwater fish (Tilapia, Barramundi, silver perch, eel-tailed catfish or tandanus catfish, jade perch and Murray cod, Koi and goldfish, channel catfish, rainbow trout, perch, common carp, Arctic char, largemouth bass, tripped bass crayfish and prawns, et al.)
• Sale of varieties of Fruits
• Sale of varieties of Vegetable
• Sale of processed foods / can – food (Tomatoes Paste, Fruit Juice, and can foods et al)
• Agricultural Related Consultancy and Advisory Services

10. Sales Forecast

From the survey conducted, we were are able to discover that the sales generated by an aquaponics commercial farm depends on the size of the farm, and the nature of the aquaponics commercial farm

We have perfected our sales and marketing strategies and we are set to hit the ground running and we are quite optimistic that we will meet or even surpass our set sales target of generating enough income / profits from the year of operations and build the business from survival to sustainability.

We have been able to critically examine the agriculture industry cum aquaponics commercial farm business and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some workable assumptions as well with respect to the nature of aquaponics commercial farm that we run.

Below are the projections that we were able to come up with for the first three years of running Jade and Julius Aquaponics – Farms, LLC;

• First Year-: $200,000
• Second Year-: $500,000
• Third Year-: $800,000

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown that can impact negatively on household spending, bad weather cum natural disasters (draughts, epidemics), and unfavorable government policies

• Marketing Strategy and Sales Strategy

We are quite aware that the reason why some aquaponics commercial farms hardly make good profits is their inability to sell off their farm produce especially perishable crops as at when due. In view of that, we decided to set up a standard food processing plant to help us maximize profits.

Our sales and marketing team will be recruited based on their vast experience in the aquaponics commercial farms industry and they will be trained on a regular basis so as to be well equipped to meet their set targets and the overall business goal of Jade and Julius Aquaponics – Farms, LLC.

Our goal is to grow Jade and Julius Aquaponics – Farms, LLC to become one of the leading aquaponics commercial farms in the United States of America which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with not only in Smethport – Pennsylvania but also in other cities in the United States of America and the world at large.

Over and above, we have perfected our sale and marketing strategies first by networking with agriculture merchants and companies that rely on raw materials from the agriculture industry who are likely to become our customers. In summary, Jade and Julius Aquaponics – Farms, LLC will adopt the following strategies in marketing our commercial farm produce;

• Introduce our business by sending introductory letters alongside our brochure to stake holders in the agriculture industry, companies that rely on the agriculture industry for their raw materials, hotels and restaurants and agriculture produce merchants et al.
• Advertise our business and agriculture produce in agro – allied and food related magazines and websites
• List our commercial farms on yellow pages ads
• Attend related agriculture and food expos, seminars, and business fairs et al
• Leverage on the internet to promote our business
• Engage in direct marketing
• Encourage the use of Word of mouth marketing (referrals)

11. Publicity and Advertising Strategy

Any business that wants to grow beyond the corner of the street or the city they are operating from must be ready and willing to utilize every available means (both conventional and non – conventional means) to advertise and promote the business. We intend growing our business which is why we have perfected plans to build our brand via every available means.

We know that it is important to create strategies that will help us boost our brand awareness and to create a corporate identity for our aquaponics commercial farm business. Below are the platforms you can leverage on to boost our aquaponics commercial farm brand and to promote and advertise our business;

• Place adverts on both print (newspapers and magazines) and electronic media platforms
• Sponsor relevant community based events / programs
• Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our business
• Install our Bill Boards on strategic locations all around Smethport – Pennsylvania
• Engage in road show from time to time in targeted neighborhoods
• Distribute our fliers and handbills in target areas
• Contact corporate organizations and residence in our target areas by calling them up and informing them of Jade and Julius Aquaponics – Farms, LLC and the farm produce we sell
• List our aquaponics farms in local directories / yellow pages
• Advertise our aquaponics farms in our official website and employ strategies that will help us pull traffic to the site.
• Ensure that all our staff members wear our branded shirts and all our vehicles and trucks are well branded with our company logo et al.

12. Our Pricing Strategy

Some of the factors that will help you sell your farm produce at the right price that will guarantee that you make profits is dependent on your strategy while some of the factors are beyond your control. For example, if the climatic condition is unfavorable and if there are natural disasters in the location where you have your commercial farm, then it will directly affect the prices of your farm produce.

Over and above, if you want to get the right pricing for your farm produce, then you should ensure that you choose a good location for aquaponics commercial farm, choose a good breed / seeds that will guarantee bountiful harvest, cut the cost of running your farm to the barest minimum and of course try as much as possible to attract buyers to your farm as against taking your farm produce to the market to source for buyers; with this, you would have successfully eliminate the cost of transporting the goods to the market and other logistics.

We are quite aware that one of the easiest means of penetrating the market and acquiring loads of customers for all our agriculture produce is to sell them at competitive prices hence we will do all we can to ensure that the prices of our farm produces are going to be what other commercial farmers would look towards beating.

One thing is certain; the nature of aquaponics commercial farming makes it possible for farmers to place prices for their farm products based on their discretion without following the benchmark in the industry. The truth is that it is one of the means of avoiding running into loss. The easier you sell off your harvest the better for your business.

• Payment Options

The payment policy adopted by Jade and Julius Aquaponics – Farms, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Jade and Julius Aquaponics – Farms, LLC will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via online bank transfer
• Payment via check
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part.

13. Startup Expenditure (Budget)

When it comes to calculating the cost of starting an aquaponics commercial farm, there are some key factors that should serve as a guide. The different niche of commercial farms determines the total cost of setting up the business. For example, the start – up cost for a fish farm is different from the start – up cost for mechanized crop farming, so also the start – up cost for poultry farming is different from the start – up cost of cattle ranch (dairy farm) et al.

As a matter of fact, if you choose to start a mechanized crop farming, then you should be willing to raise huge capital base to start the business. This is so because some cultivation machines / equipment can be pretty expensive. Below are some of the basic areas we will spend our start – up capital in setting up our aquaponics commercial farm;

• The amount required for preparing the farm land (for crop cultivation, fish ponds, and fencing et al – $30,000
• The amount needed to acquire / lease a farm land – $50,000
• The budget for key insurance policies, permits and business license – $2,500
• The Total Fee for incorporating the Business (aquaponics commercial farm) in United States of America – $750.
• The cost for acquiring the required working tools and equipment / machines / glass casing et al– $200,000
• The amount required for purchase of seedlings and fingerlings – $20,000
• The Cost of Launching an official Website – $600
• The amount required for payment of workers for a period of 3 months – $100,000
• Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,000

Going by the report from detailed research and feasibility studies conducted, we will need an average of $500,000 to start a standard aquaponics commercial farm business in the United States of America.

Basically, the nature of aquaponics commercial farms does not require an office space, most people that run aquaponics commercial farms operate directly from their farms. But if we have decide to open a small liaison office; a place where administrative jobs will be carried out.

Generating Funding / Startup for Jade and Julius Aquaponics – Farms, LLC

No matter how fantastic your business idea might be, if you don’t have the required money to finance the business, the business might not become a reality. Finance is a very important factor when it comes to starting a business such as aquaponics commercial farming. No doubt raising start – up capital for a business might not come cheap, but it is a task that an entrepreneur must go through.

Jade and Julius Aquaponics – Farms, LLC is a family owned business and it will be financed by the owners of the company – Dr. Julius Corey and family. These are the areas where we intend sourcing for fund for Jade and Julius Aquaponics – Farms, LLC;

• Generate part of the start – up capital from personal savings and sale of his stocks
• Generate part of the start – up capital from friends and other extended family members
• Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $200,000 (Personal savings $150,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $300,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Jade and Julius Aquaponics – Farms, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to sell our farm produce a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Jade and Julius Aquaponics – Farms, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

• Business Name Availability Check:>Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts various banks in the United States: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of All form of Insurance for the Business: Completed
• Leasing of farm land in Smethport – Pennsylvania: Completed
• Conducting Feasibility Studies: Completed
• Start – up Capital Generation: Completed
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
• Recruitment of employees: In Progress
• Building /construction of fish ponds, cattle ranch, and poultry: In Progress
• Purchase of the needed working tools, machines and equipment: Completed
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business (Business PR): In Progress
• Farm land Treatment, Health and Safety Arrangement: In Progress
• Establishing business relationship with key players in the industry (agriculture farm produce merchants, transporter / haulage and suppliers of seeds, fertilizers, pesticides and insecticides): Completed

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Aquaponics Business Plan Template

If you want to start an aquaponics business or expand your current one, you need a business plan.

Since 1999, we have helped millions of entrepreneurs create business plans to start and grow their businesses.

Below are links to each section of your aquaponics business plan template:

Next Section: Executive Summary >

Aquaponics Business Plan FAQs

What is the easiest way to complete my aquaponics business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Business Plan.

What Is an Aquaponics Business Plan?

A business plan provides a snapshot of your aquaponics business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why Do You Need an Aquaponics Business Plan?

If you’re looking to start an aquaponics business or grow your existing aquaponics business you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your aquaponics business in order to improve your chances of success. Your aquaponics business plan is a living document that should be updated annually as your company grows and changes.

What Are the Sources of Funding for Aquaponics Businesses?

The main sources of funding for an aquaponics business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for an aquaponics business is angel investors.  Angel investors  are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan.  VC funding  is not appropriate for aquaponics businesses as VC seek quick and massive returns from high tech ventures.

AQUAPONICS BUSINESS PLAN OUTLINE

• Aquaponics Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan
• 10. Appendix
• Aquaponics Business Plan Summary

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How to write a business plan for an aquaponics farm?

Putting together a business plan for an aquaponics farm can be daunting - especially if you're creating a business for the first time - but with this comprehensive guide, you'll have the necessary tools to do it confidently.

We will explore why writing one is so important in both starting up and growing an existing aquaponics farm, as well as what should go into making an effective plan - from its structure to content - and what tools can be used to streamline the process and avoid errors.

Without further ado, let us begin!

In this guide:

Why write a business plan for an aquaponics farm?

• What information is needed to create a business plan for an aquaponics farm?
• How do I build a financial forecast for an aquaponics farm?

The written part of an aquaponics farm business plan

• What tool should I use to write my aquaponics farm business plan?

Understanding the document's scope and goals will help you easily grasp its structure and content. Before diving into the specifics of the plan, let's take a moment to explore the key reasons why having an aquaponics farm business plan is so crucial.

To have a clear roadmap to grow the business

Small businesses rarely experience a constant and predictable environment. Economic cycles go up and down, while the business landscape is mutating constantly with new regulations, technologies, competitors, and consumer behaviours emerging when we least expect it.

In this dynamic context, it's essential to have a clear roadmap for your aquaponics farm. Otherwise, you are navigating in the dark which is dangerous given that - as a business owner - your capital is at risk.

That's why crafting a well-thought-out business plan is crucial to ensure the long-term success and sustainability of your venture.

To create an effective business plan, you'll need to take a step-by-step approach. First, you'll have to assess your current position (if you're already in business), and then identify where you'd like your aquaponics farm to be in the next three to five years.

Once you have a clear destination for your aquaponics farm, you'll focus on three key areas:

• Resources: you'll determine the human, equipment, and capital resources needed to reach your goals successfully.
• Speed: you'll establish the optimal pace at which your business needs to grow if it is to meet its objectives within the desired timeframe.
• Risks: you'll identify and address potential risks you might encounter along the way.

By going through this process regularly, you'll be able to make informed decisions about resource allocation, paving the way for the long-term success of your business.

To get visibility on future cash flows

If your small aquaponics farm runs out of cash: it's game over. That's why we often say "cash is king", and it's crucial to have a clear view of your aquaponics farm's future cash flows.

So, how can you achieve this? It's simple - you need to have an up-to-date financial forecast.

The good news is that your aquaponics farm business plan already includes a financial forecast (which we'll discuss further in this guide). Your task is to ensure it stays current.

To accomplish this, it's essential to regularly compare your actual financial performance with what was planned in your financial forecast. Based on your business's current trajectory, you can make adjustments to the forecast.

By diligently monitoring your aquaponics farm's financial health, you'll be able to spot potential financial issues, like unexpected cash shortfalls, early on and take corrective actions. Moreover, this practice will enable you to recognize and capitalize on growth opportunities, such as excess cash flow enabling you to expand to new locations.

To secure financing

Crafting a comprehensive business plan for your aquaponics farm, whether you're starting up or already established, is paramount when you're seeking financing from banks or investors.

Given how fragile small businesses are, financiers will want to ensure that you have a clear roadmap in place as well as command and control of your future cash flows before entertaining the idea of funding you.

For banks, the information in your business plan will be used to assess your borrowing capacity - which is defined as the maximum amount of debt your business can afford alongside your ability to repay the loan. This evaluation helps them decide whether to extend credit to your business and under what terms (interest rate, duration, repayment options, collateral, etc.).

Similarly, investors will thoroughly review your plan to determine if their investment can yield an attractive return. They'll be looking for evidence that your aquaponics farm has the potential for healthy growth, profitability, and consistent cash flow generation over time.

Now that you understand the importance of creating a business plan for your aquaponics farm, let's delve into the necessary information needed to craft an effective plan.

Need a convincing business plan?

The Business Plan Shop makes it easy to create a financial forecast to assess the potential profitability of your projects, and write a business plan that’ll wow investors.

Information needed to create a business plan for an aquaponics farm

Drafting an aquaponics farm business plan requires research so that you can project sales, investments and cost accurately in your financial forecast, and convince the reader that there is a viable commercial opportunity to be seized.

Below, we'll focus on three critical pieces of information you should gather before starting to write your plan.

Carrying out market research for an aquaponics farm

As you consider writing your business plan for an aquaponics farm, conducting market research becomes a vital step to ensure accurate and realistic financial projections.

Market research provides valuable insights into your target customer base, competitors, pricing strategies, and other key factors that can significantly impact the commercial success of your business.

Through this research, you may uncover trends that could influence your aquaponics farm.

Your aquaponics farm may experience increased demand from customers looking for locally grown, organic produce. You might discover that customers are interested in purchasing aquaponics products that are convenient and easy to prepare.

Such market trends play a significant role in forecasting revenue, as they offer valuable data about potential customers' spending habits and preferences.

By incorporating these findings into your financial projections, you can present investors with more accurate information, helping them make informed decisions about investing in your aquaponics farm.

Developing the sales and marketing plan for an aquaponics farm

As you embark on creating your aquaponics farm business plan, it is crucial to budget sales and marketing expenses beforehand.

A well-defined sales and marketing plan should include precise projections of the actions required to acquire and retain customers. It will also outline the necessary workforce to execute these initiatives and the budget required for promotions, advertising, and other marketing efforts.

This approach ensures that the appropriate amount of resources is allocated to these activities, aligning with the sales and growth objectives outlined in your business plan.

The staffing and equipment needs of an aquaponics farm

Whether you are at the beginning stages of your aquaponics farm or expanding its horizons, having a clear plan for recruitment and capital expenditures (investment in equipment and real estate) is vital to ensure your business's success.

To achieve this, both the recruitment and investment plans must align coherently with the projected timing and level of growth in your forecast. It is essential to secure appropriate funding for these plans.

Staffing costs for an aquaponics farm might include salaries for full-time and/or part-time employees, such as farm managers, farm hands, or other support staff. Equipment costs may include items such as fish tanks, pumps, filters, air blowers, grow beds, water heaters, and other necessary items for a successful aquaponics operation.

To create a financial forecast that accurately represents your business's outlook, remember to factor in other day-to-day operating expenses.

Now that you have all the necessary information, it's time to dive in and start creating your business plan and developing the financial forecast for your aquaponics farm.

What goes into your aquaponics farm's financial forecast?

The financial forecast of your aquaponics farm's business plan will enable you to assess the growth, profitability, funding requirements, and cash generation potential of your business in the coming years.

The four key outputs of a financial forecast for a aquaponics farm are:

• The profit and loss (P&L) statement ,
• The projected balance sheet ,
• The cash flow forecast ,
• And the sources and uses table .

Let's look at each of these in a bit more detail.

The projected P&L statement

Your aquaponics farm forecasted P&L statement enables the reader of your business plan to get an idea of how much revenue and profits your business is expected to make in the near future.

Ideally, your reader will want to see:

• Growth above the inflation level
• Expanding profit margins
• Positive net profit throughout the plan

Expectations for an established aquaponics farm will of course be different than for a startup. Existing businesses which have reached their cruising altitude might have slower growth and higher margins than ventures just being started.

The forecasted balance sheet of your aquaponics farm

The projected balance sheet of your aquaponics farm will enable the reader of your business plan to assess the overall financial health of your business.

It shows three elements: assets, liabilities and equity:

• Assets: are productive resources owned by the business, such as equipment, cash, and accounts receivable (money owed by clients).
• Liabilities: are debts owed to creditors, lenders, and other entities, such as accounts payable (money owed to suppliers).
• Equity: includes the sums invested by the shareholders or business owners and the profits and losses accumulated by the business to date (which are called retained earnings). It is a proxy for the value of the owner's stake in the business.

Analysing your aquaponics farm projected balance sheet provides an understanding of your aquaponics farm's working capital structure, investment and financing policies.

In particular, the readers of your plan can compare the level of financial debt on the balance sheet to the equity value to measure the level of financial risk (equity doesn't need to be reimbursed, while financial debt must be repaid, making it riskier).

They can also use your balance sheet to assess your aquaponics farm's liquidity and solvency:

• A liquidity analysis: focuses on whether or not your business has sufficient cash and short-term assets to cover its liabilities due in the next 12 months.
• A solvency analysis: takes and longer view to assess whether or not your business has the capacity to repay its debts over the medium-term.

The projected cash flow statement

A cash flow forecast for an aquaponics farm shows how much cash the business is projected to generate or consume.

The cash flow statement is divided into 3 main areas:

• The operating cash flow shows how much cash is generated or consumed by the operations (running the business)
• The investing cash flow shows how much cash is being invested in capital expenditure (equipment, real estate, etc.)
• The financing cash flow shows how much cash is raised or distributed to investors and lenders

Looking at the cash flow forecast helps you to ensure that your business has enough cash to keep running, and can help you anticipate potential cash shortfalls.

It is also a best practice to include a monthly cash flow statement in the appendices of your aquaponics farm business plan so that the readers can view the impact of seasonality on your business cash position and generation.

The initial financing plan

The initial financing plan - also called a sources and uses table - is an important tool when starting an aquaponics farm.

It shows where the money needed to set up the business will come from (sources) and how it will be allocated (uses).

Having this table helps understand what costs are involved in setting up the aquaponics farm, how the risks are distributed between the shareholders and the lenders, and what will be the starting cash position (which needs to be sufficient to sustain operations until the business breaks even).

Now that the financial forecast of an aquaponics farm business plan is understood, let's focus on what goes into the written part of the plan.

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The written part of an aquaponics farm business plan is composed of 7 main sections:

• The executive summary
• The presentation of the company
• The products and services
• The market analysis
• The strategy
• The operations
• The financial plan

Throughout these sections, you will seek to provide the reader with the details and context needed for them to form a view on whether or not your business plan is achievable and your forecast a realistic possibility.

Let's go through the content of each section in more detail!

1. The executive summary

In your aquaponics farm's business plan, the first section is the executive summary — a captivating overview of your plan that aims to pique the reader's interest and leave them eager to learn more about your business.

When crafting the executive summary, start with an introduction to your business, including its name, concept, location, how long it has been running, and what sets it apart. Briefly mention the products and services you plan to offer and your target customer profile.

Following that, provide an overview of the addressable market for your aquaponics farm, current trends, and potential growth opportunities.

Next, include a summary of key financial figures like projected revenues, profits, and cash flows.

Finally, in the "ask" section, detail any funding requirements you may have.

2. The presentation of the company

The second section in your aquaponics farm's business plan should focus on the structure and ownership, location, and management team of the company.

The structure and ownership part provides an overview of the legal structure of the business, who the owners are and how much each has invested and owns. If you are seeking financing it is important that the reader gets a clear picture of which legal entity is receiving the funds, and who controls the business.

The location part should give an overview of the premises from which the company is operating, and why that location is of particular interest (catchment area, accessibility, amenities nearby, etc.).

When describing the location of your aquaponics farm, you could emphasize the potential for growth and success. Point out the access to local markets, the availability of resources, and the potential for expanding your business. You could mention the potential for increased profits due to favorable weather conditions, and the potential for lower costs due to the local economy. Highlight the potential for environmental sustainability and the potential to lead the way in innovative farming methods. Stress the potential for the area to become a hub for aquaponics-based agriculture and the potential for increased exposure to investors.

Finally, you should introduce the management team. Explain each member's role, background, and experience.

It is also important to emphasize any past successes that the members of the management team have achieved, and how long they've been working together, as this will help potential lenders or investors understand why they should trust in their leadership.

3. The products and services section

The products and services section of your aquaponics farm business plan should include a detailed description of what your company sells to its customers. 

For example, your aquaponics farm could offer fresh, nutrient-rich vegetables, such as lettuce, kale, spinach, and tomatoes, that are grown sustainably in a closed-loop system. You could also offer fresh-caught fish, such as tilapia, trout, and catfish, that are reared in the aquaponic system. Lastly, you could offer educational tours and workshops, which would provide an opportunity for customers to learn about the aquaponics system and the benefits of sustainable farming.

The reader will want to understand what makes your aquaponics farm unique from other businesses in this competitive market.

When drafting this section, you should be precise about the categories of products or services you sell, the clients you are targeting and the channels that you are targeting them through. 

4. The market analysis

When outlining your market analysis in the aquaponics farm business plan, it's essential to include comprehensive details about customers' demographics and segmentation, target market, competition, barriers to entry, and relevant regulations.

The primary aim of this section is to give the reader an understanding of the market size and appeal while demonstrating your expertise in the industry.

To begin, delve into the demographics and segmentation subsection, providing an overview of the addressable market for your aquaponics farm, key marketplace trends, and introducing various customer segments and their preferences in terms of purchasing habits and budgets.

Next, shift your focus to the target market subsection, where you can zoom in on the specific customer segments your aquaponics farm targets. Explain how your products and services are tailored to meet the unique needs of these customers.

For example, your target market might include urban gardeners who are looking for a sustainable, low-maintenance and efficient way to grow their own food. These customers would prefer to have a closed-loop, self-contained system that is easy to set up and maintain, and that can provide them with a continual fresh supply of fruits and vegetables. Finally, these urban gardeners would also be interested in learning more about aquaponics so that they can truly understand the system and its benefits.

In the competition subsection, introduce your main competitors and explain what sets your aquaponics farm apart from them.

Finally, round off your market analysis by providing an overview of the main regulations that apply to your aquaponics farm.

5. The strategy section

When writing the strategy section of a business plan for your aquaponics farm, it is essential to include information about your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

The competitive edge subsection should explain what sets your company apart from its competitors. This part is especially key if you are writing the business plan of a startup, as you have to make a name for yourself in the marketplace against established players.

The pricing strategy subsection should demonstrate how you intend to remain profitable while still offering competitive prices to your customers.

The sales & marketing plan should outline how you intend to reach out and acquire new customers, as well as retain existing ones with loyalty programs or special offers. 

The milestones subsection should outline what your company has achieved to date, and its main objectives for the years to come - along with dates so that everyone involved has clear expectations of when progress can be expected.

The risks and mitigants subsection should list the main risks that jeopardize the execution of your plan and explain what measures you have taken to minimize these. This is essential in order for investors or lenders to feel secure in investing in your venture.

Your aquaponics farm may face a variety of risks. One risk could be the loss of crops due to pests or disease. This could be caused by a lack of proper hygiene and sanitation, or by introducing pests to the farm. Another risk could be a power outage, which could be caused by a natural disaster or a technical malfunction. This could lead to a loss of crops, as the pumps and the lighting may not be able to function.

6. The operations section

In your business plan, it's also essential to provide a detailed overview of the operations of your aquaponics farm.

Start by covering your team, highlighting key roles and your recruitment plan to support the expected growth. Outline the qualifications and experience required for each role and your intended recruitment methods, whether through job boards, referrals, or headhunters.

Next, clearly state your aquaponics farm's operating hours, allowing the reader to assess staffing levels adequately. Additionally, mention any plans for varying opening times during peak seasons and how you'll handle customer queries outside normal operating hours.

Then, shift your focus to the key assets and intellectual property (IP) necessary for your business. If you rely on licenses, trademarks, physical structures like equipment or property, or lease agreements, make sure to include them in this section.

You may have key assets such as land and water, as well as copyrighted intellectual property such as a patented aquaponics system or the farm's brand. Other intellectual property could include trade secrets such as the farm's recipes or processes that could make the farm more successful.

Lastly, include a list of suppliers you plan to work with, detailing their services and main commercial terms, such as price, payment terms, and contract duration. Investors are interested in understanding why you've chosen specific suppliers, which may be due to higher-quality products or established relationships from previous ventures.

7. The presentation of the financial plan

The financial plan section is where we will include the financial forecast we talked about earlier in this guide.

Now that you have a clear idea of the content of an aquaponics farm business plan, let's look at some of the tools you can use to create yours.

What tool should I use to write my aquaponics farm's business plan?

In this section, we will be reviewing the two main options for writing an aquaponics farm business plan efficiently:

• Using specialized software,
• Outsourcing the drafting to the business plan writer.

Using an online business plan software for your aquaponics farm's business plan

Using online business planning software is the most efficient and modern way to create an aquaponics farm business plan.

There are several advantages to using specialized software:

• You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
• You are guided through the writing process by detailed instructions and examples for each part of the plan
• You can access a library of dozens of complete business plan samples and templates for inspiration
• You get a professional business plan, formatted and ready to be sent to your bank or investors
• You can easily track your actual financial performance against your financial forecast
• You can create scenarios to stress test your forecast's main assumptions
• You can easily update your forecast as time goes by to maintain visibility on future cash flows
• You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

Need a solid financial forecast?

The Business Plan Shop does the maths for you. Simply enter your revenues, costs and investments. Click save and our online tool builds a three-way forecast for you instantly.

Hiring a business plan writer to write your aquaponics farm's business plan

Outsourcing your aquaponics farm business plan to a business plan writer can also be a viable option.

Business plan writers are experienced in writing business plans and adept at creating financial forecasts without errors. Furthermore, hiring a consultant can save you time and allow you to focus on the day-to-day operations of your business.

However, hiring business plan writers is expensive as you are paying for the software used by the consultant, plus their time, and their profit margin of course.

From experience, you need to budget at least £1.5k ($2.0k) excluding tax for a complete business plan, more if you need to make changes after the initial version (which happens frequently after the initial meetings with lenders or investors).

You also need to be careful when seeking investment. Investors want their money to be used to grow the business, not spent on consulting fees. Therefore, the amount you spend on business plan writing services (and other consulting services such as legal services) needs to be negligible relative to the amount raised.

The other drawback is that you usually don't own the business plan itself: you just get the output, while the actual document is saved in the consultant's business plan software - which makes it difficult to maintain the document up to date without hiring the consultant on a retainer.

For these reasons, outsourcing the aquaponics farm business plan to a business plan writer should be considered carefully, weighing both the advantages and disadvantages of hiring outside help.

Ultimately, it may be the right decision for some businesses, while others may find it beneficial to write their business plan using online software.

Why not create your aquaponics farm's business plan using Word or Excel?

I must advise against using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write your aquaponics farm business plan. Let me explain why.

Firstly, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is highly technical and requires a strong grasp of accounting principles and financial modelling skills. It is, therefore, unlikely that anyone will fully trust your numbers unless you have both a degree in finance and accounting and significant financial modelling experience, like us at The Business Plan Shop.

Secondly, relying on spreadsheets is inefficient. While it may have been the only option in the past, technology has advanced significantly, and software can now perform these tasks much faster and with greater accuracy. With the rise of AI, software can even help us detect mistakes in forecasts and analyze the numbers for better decision-making.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Moreover, software makes it easier to compare actuals versus forecasts and maintain up-to-date forecasts to keep visibility on future cash flows, as we discussed earlier in this guide. This task is cumbersome when using spreadsheets.

Now, let's talk about the written part of your aquaponics farm business plan. While it may be less error-prone, using software can bring tremendous gains in productivity. Word processors, for example, lack instructions and examples for each part of your business plan. They also won't automatically update your numbers when changes occur in your forecast, and they don't handle formatting for you.

Overall, while Word or Excel may seem viable for some entrepreneurs to create a business plan, it's by far becoming an antiquated way of doing things.

• A business plan has 2 complementary parts: a financial forecast showcasing the expected growth, profits and cash flows of the business; and a written part which provides the context needed to judge if the forecast is realistic and relevant.
• Having an up-to-date business plan is the only way to keep visibility on your aquaponics farm's future cash flows.
• Using business plan software is the modern way of writing and maintaining business plans.

We hope that this practical guide gave you insights on how to write the business plan for your aquaponics farm. Do not hesitate to get in touch with our team if you still have questions.

Also on The Business Plan Shop

• In-depth business plan structure
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Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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EPA Aquaponics Business Plan User Guide (PDF)

Here is the United States Environmental Protection Agency Aquaponics Business Plan User Guide. This will be a great added resource as you work through planning your farm. It has some of the following topics:

• Organization and Management
• Marketing Strategy
• Operating Strategy
• Financial Strategy

aquaponics-business-plan.pdf (2.0 MB)

Thanks. That is a great resource.

Thank you. Great plan.

Thank you Jon. This is helpful.

Thank you for sharing this.

Very interesting and helpful informations. Thank you for sharing it.

Thank you. It will be my next read.

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Aquaponics Business Plan User Guide

Because of the differences in production systems between cultivated agriculture and aquaponics, the Aquaponics Business Plan User Guide has been developed to provide guidance for developing an operating strategy specific to an aquaponic farm. This User Guide is modeled after the original Urban Farm Business Plan Handbook and provides an outline and guidance for the development of a business plan for an aquaponic farm. Some sections of the original Urban Farm Business Plan Handbook were modified to address aquaponic differences, while other sections keep the original text of the Handbook.

As with a cultivated agriculture urban farm, an urban aquaponic farm can be established as non-profit, community or neighborhood-based urban farm or for profit urban farm business. In either case it is important for those establishing an urban aquaponic farm to develop a plan for the start-up and operation of the farm regardless of whether it is intended to be for-profit or non-profit. A business plan serves as an internal planning tool that maps out the strategies for the startup and operation of a business, tracks progress of the business against its goals, and provides information to external stakeholders important to the successful startup and operation of the business (e.g., investors and funding sources).

Download a copy of the Aquaponics Business Plan User Guide .

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Aquaponics Business Plan

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• July 14, 2022

Aquaponics is a form of agriculture that has been around for many years but resurfaces in today's modern world and attracts many people because of its benefits and profitability. Recent studies have shown the increasing demand for the aquaponics market globally because of the rising population, lack of farming land, and high demand for organic food worldwide.

Today, many people have turned to aquaponics farming to grow food because of its sustainability and organic way of producing food. Aquaponics has grown and developed not just for hobbyists or backyard gardening but, most importantly, for commercial purposes. 

We developed this aquaponics business plan because of the growing interest in commercial aquaponics. We also aim to provide an outline and guidance for developing an operating strategy for those interested in starting their own commercial aquaponics system. 

What is Aquaponics?

Aquaponics is a recirculating method of farming that combines aquaculture and  hydroponics. It is  the raising of fish and  the growing of plants together in a symbiotic environment with the help of  beneficial bacteria . The bacteria convert fish waste into nitrates, which become food for the plant, and in return, the plant roots filter and clean the water for the fish to live.

Benefits of Aquaponics 

• Organic Produce - Food grown in an aquaponics system is not exposed to chemicals, including fertilizers and weed killers, because they are grown naturally with the help of fish waste. 
• Year-round farming - Aquaponic growers do not depend on weather conditions to farm because of their ability to regulate temperatures. So they can cultivate organic food all year round.
• Faster Plant Growth - Plants grown in aquaponics naturally grow faster because they can access the nutrients 24 hours a day. A constantly regulated source of water also helps enhance plant growth.
• Two Sources of income - Commercial aquaponics operations can enjoy two sources of income: plants and fish. 
• Reduces the Planet's Carbon Footprint - Large farmland is not needed to grow aquaponics crops. A sustainable aquaponics system is viable in places where the land is rocky, or prone to drought.

Things to Consider In Starting A Commercial Aquaponics System

Before developing and starting your commercial aquaponics business, consider the main reasons you want this kind of business. This will help you focus on the business plan and identify the issues, resources, and expertise needed to develop your business plan.

Consider asking yourself these questions;

• Do you have a farm or crop growing experience to help your farm operations, or do you need to seek that expertise elsewhere?
• Do you have a property, or are you still choosing a location?
• Are you developing an aquaponic farm for-profit and source of income?
• Who will be part of your planning team?
• Do you have the knowledge or expertise to develop marketing, operating, and financial strategies necessary for the business plan or help start the business?
• Do you need expertise in addressing environmental and cleanup issues that may be associated with the public property you intend to use?

This aquaponics business plan is divided into five sections:

1. Overview: This section provides the vision statement, mission, and goals of your commercial aquaponics farm.

2. Management and Organization: This section describes the business ownership structure and its management and organization.

3. Marketing Strategy: This section identifies the products to be produced, how they will be marketed, and the potential competitors. This section will also describe the product's packaging, distributing, and promoting approaches.

4. Operating Strategy: This section describes the approach to product management, farm size, physical and human resources, and regulatory requirements.

5. Financial Strategy: This section provides income and expense estimates, expected profit and loss, sources of funds, and potential business risks to its success.

1. Overview

Your business plan overview provides your vision and mission statement. It also summarizes your goals for your commercial aquaponics farm. The overview is divided into the following:

• Introduction

Describe the purpose and key issues to be addressed by the business plan. It provides an understanding of what information is contained in the business plan.

• Vision Statement

 Your vision statement describes your vision of your commercial aquaponics farm's future and how you incorporate your values into your farm. It provides clear decision-making criteria and answers what economic, environmental, or community values are essential to the farm. What products or services do you intend to offer, and how the community will benefit from these products or services.

• Mission Statement

The mission statement is a set of guiding principles that describe your commercial aquaponics farm's overall goals. A mission statement tells the fundamental purpose and expectations for the farm to its customers. It also provides an understanding of the goals of the farm.

The goals describe what is to be achieved by the farm. Goals can be short-term goals or long-term goals. Short-term goals may be focused on the farm's startup and achieving a certain level of production income. Long-term goals can be the plans for farm growth. Goals reflect what you want to achieve and when you like to achieve them. 

2. Management and Organization

Management and organization describe the commercial aquaponics farm's ownership status and how it will be managed and organized. How you register your farm will depend on your business structure (corporation, sole proprietorship, non-profit). In making the management and organization structure of your farm.

Consider answering these questions:

• What will the legal structure of your business be? Will it be a sole proprietorship, partnership, non-profit, or corporation?
• How will the farm be organized and managed? 
• Who will be the key managers who will run the farm?
• What skills do these managers bring to the farm, and what will be their duties and responsibilities?
• Will there be a board of directors?
• How will these managers or board members be compensated?

3. Marketing Strategy

Before starting your commercial aquaponics farm, defining the strategy for marketing and sales is very important. These are also the essential part of your business plan. Developing your marketing strategy requires understanding the market, demands of your product, potential customers, as well as potential competitors. In this section, you must convince your reader that your commercial aquaponics farm is a viable market. 

The marketing strategy is divided into these sections:

1. Introduction: The introduction section of the marketing strategy shows the following:

• The market or potential customers of your commercial aquaponics farm.
• The products that the farm will produce and sell.
• The distribution process or how and where the products will be made available to the customers. 

 In discussing the market section, know the answer to these questions:

• Who are your potential customers, and where are they located?
• How likely are they to buy your product?
• Are you growing a crop that is not easily accessible to consumers?  

3. Product: Use the information you gathered from the market analysis about customer values, needs, and preferences, and describe the product you're planning to offer and how they will compete in the market. Describe why your product is unique and how they differ from its competitors.

4. Distribution: Getting your product to the market will be critical to your marketing strategy, as the quality of crops and customer perception will depend on the freshness and quality of your product. This section discusses the handling of products from harvest to sell, including options for storing the product before selling. 

Discuss these questions: 

• How will you sell your product?
• Will they distribute your product directly from the harvest to the customer?
• How will you maintain your product quality during storage and distribution?
• What will you do with the product that is not sold or delivered?
• What is your method of distribution?
• How will you price your product?

Discuss these questions:

• Who are your competitors?
• How does your product differ from your competitor's product?
• Are your competitors established in the market?
• Do they offer a greater variety of products?
• Will your pricing be competitive?

4. Operating Strategy

Before developing your operating strategy, it is essential that you have completed your market analysis and identified the type and volume of plants to grow and fish to raise. It divides the operating strategy into these sections:

1. Crop Management (Your approach to cultivating and harvesting plants and fish)

Crop management involves managing the volume of fish and plant crops needed to meet your marketing strategy's objectives. This involved understanding the approach used to raise the fish and plant the crops and the planting and harvesting schedule. Discuss the specific method to be used, such as a raft system , media-based system , nutrient film technique (NFT) , or a combination of the three main systems of aquaponics. 

This section discusses the following questions:

• Since the relationship between the fish and the plants is interdependent, will the volume of your plant crops meet the market demand drive of the fish's volume needed to provide the necessary nutrients for the plant?
• Will the volume of the fish from the water support the demand of the plants?
• Will the fish be marketed as a farm product or managed only to support crop production?
• Will plant crops start from seeds or seedlings purchased from suppliers?
• How will you manage water pH, ammonia, temperature, nitrates, nitrites dissolved oxygen ?
• How will you cycle the system ?
• How will planting be made to meet the required crop harvest of the marketing strategy?
• Are you going to plant and harvest year-round?

In discussing physical resources, you need to consider these questions:

• What type of buildings and structures are required within five years?
• Will your commercial aquaponics farm be located within the building?
• How much building area and land area are required? Within five years?
• Will you lease or acquire the land area?
• Has an environmental assessment been conducted on the property, and are there any known or potential environmental issues that will require cleanup or specific action?
• What resources will be needed for the farm (water, electricity, and waste disposal)?
• What equipment will be needed (vehicles, monitoring equipment, lighting, tanks, etc.) within five years?
• What tools will be needed initially and within five years?
• What supplies will be needed?
• How will these resources be acquired?

The key issues needed to be considered in identifying physical resources are:

• To determine the development needs of an aquaponics farm.
• In determining the square footage needs, it should include sufficient space to access and work around the fish and tanks, space for offices, packaging, shipping, cold storage, material and equipment storage, and a growing area for the seedlings. 
• Consideration should also be given to monitoring the system, such as water quality and temperature, pH, ammonia, humidity, water pump, light, and other parameters that are important to the healthy growth of the fish and plants.
• Internet, telephone, and other communication requirements for remote monitoring.

Consider these questions in discussing human resources:

• What is the workforce needed for the first five years?
• What positions will be created for the farm, and how many workers will be required for each position? 
• Will you provide training for each position?
• How many workers will be compensated, and will there be full-time, part-time, or volunteer workers?
• What are the ranges of salaries for each position?
• What are the employee benefits? (vacation, medical coverage, etc.)

The key issues needed to be considered in discussing human resources are:

• Using monitoring systems with remote notification capabilities can reduce labor and provide notification of system problems even when the aquaponics farm is unattended.
• There may be a need for an additional workforce during harvest days.

Financial Strategy

This section should describe your approach to developing a financial strategy. The financial strategy is divided into these sections.

1. Expenses (the expenses estimated for the startup and operation of the commercial aquaponics farm)

Develop a five-year projection on the annual expenses for the commercial aquaponics farm. The costs should include marketing, operating, and human resource expenses discussed in the marketing, managing, and human resources strategy section. Expenses should also cover administrative costs like the initial operating expenses, startup expenses, site preparations, and other expenses.

2. Income (projected income of the commercial aquaponics farm)

Develop your five-year annual income projection for the farm. Payment should include receipts from sales of products and less any loss associated with spoilage or products that cannot be sold. Income should also include other sources anticipated to cover the farm's operating expenses.

3. Fixed Assets (anticipated fixed assets)

Develop your five-year projection of fixed assets. Fixed assets include land, buildings, vehicles, furniture, office equipment, computers, fixtures and fittings, plants, and machinery. These items are depreciated over time for tax purposes.

4. Funding (a potential source of funds)

Describe the source and amount of funds needed to purchase, install the fixed assets to startup the farm, and achieve the business plan's goals.

Discuss the following questions:

• How will you get these funds, and what are the sources or potential funding sources?
• How much funding is needed?
• How will the funds impact the achievement of the business plan?
• Are there required expenses in obtaining financing or funding, like insurance, filing fees, and others?

How to Start A Commercial Aquaponics Business

Commercial aquaponics is a business. Getting excited and carried away by aquaponics' coolness and possible profitability does not guarantee success; knowledge, experience, and proper business decisions do

Here are our tips on starting a commercial aquaponics farm.

• The first step is to gather enough information on how aquaponics works and how to manage an aquaponics business. You can reach out to your local aquaponics farmers to get ideas for the day-to-day tasks of running an aquaponics farm.
• You can consult professionals with experience designing, building, and operating aquaponics facilities. The money you invest in professional consulting will be an essential factor in the success of your farm.
• Choose the location where you will establish your aquaponics farm. Choose an area where the temperature is not too high or low and has sufficient light for the plant to get enough light.
• Gather all the necessary materials required for setting up an aquaponics system. This will depend on your aquaponics design. These include a fish tank, grow bed, water pump, grow media, and pipes for plumbing.
• Register your business to get the necessary licenses and permits from your local authority. 
• Set up your aquaponics business according to your plan and design. Continue consulting with aquaponics experts to get their guidance on effectively managing your aquaponics business. 

Thank you for reading our article. Starting can be challenging, but it is an ideal investment because aquaponics is a low-maintenance and cost-efficient system that provides fresh organic yield much faster than any other farming method. Commercial Aquaponics can be profitable when done on a specific scale. If you are a beginner in aquaponics and want to start your own system, read our article, " Ultimate Aquaponics Beginner's Guide ."

Interested in getting a system designed that fits your exact needs? Whether it be a small back yard system, a mid-size system for your restaurant or school, or a large-scale commercial system, Go Green Aquaponics can design you a custom aquaponics system to fit your needs!

Just reach out to us on the comment section below or let us know about the system you’d like via the contact form to get started!

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3 Responses

Johnny Webb

January 29, 2023

This article is absolutely awesome and informative! I’m new to the BC province, and have been SUPER intrigued about stepping up, stepping out and beginning a venture into commercial aquaponics after years of building multiple small to medium scale systems and more importantly completely believing in the fact that being able to grow organically and responsibly for ourselves and the community is something that really is the thing of the near and ongoing future.

Angelita Castillo

January 13, 2023

I want to know more about aquaponics specifically how to start in the backyard. Thank you.

Mauricio Briceño

August 05, 2020

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How To Write a Business Plan for Aquaponic Farming: Checklist

By henry sheykin, resources on aquaponic farming systems.

• Financial Model
• Business Plan
• Value Proposition
• One-Page Business Plan
• SWOT Analysis

Welcome to our blog post on how to write a business plan for aquaponic farming systems! This innovative approach to sustainable agriculture is revolutionizing the industry, offering a self-sustaining ecosystem where fish and plants thrive together. With the rising demand for fresh, organic produce and the need for environmentally friendly farming practices, aquaponic farming is experiencing incredible growth. According to recent statistics, the global aquaponics market is projected to reach a value of $1.34 billion by 2026, with a compound annual growth rate of 11.7%.

Now, let's dive into the nine essential steps you need to take to create a successful business plan for your aquaponic farming system:

• Define your business concept and target market
• Conduct market research and analysis
• Assess the feasibility and profitability of an aquaponic farming system
• Identify potential funding sources and create a financial plan
• Develop a comprehensive marketing and sales strategy
• Secure any necessary permits and licenses
• Design the layout and infrastructure of the aquaponic farm
• Source the necessary equipment, supplies, and technology
• Assemble a knowledgeable and skilled team of employees or partners

Each of these steps plays a critical role in ensuring the success and sustainability of your aquaponic farming venture. By following this checklist, you'll be well on your way to creating a thriving business that not only generates profits but also contributes to a greener and more sustainable future. Stay tuned as we delve deeper into each step in the upcoming blog posts.

Remember, aquaponic farming goes beyond just growing food; it's a solution that addresses both environmental and social challenges. By embracing this innovative farming system, you're not only providing fresh and healthy produce year-round but also promoting conscious farming practices, food security, and a more sustainable world. Let's embark on this exciting journey together!

Define Your Business Concept And Target Market

Before diving into the complexities of starting an aquaponic farming system, it's essential to have a clear understanding of your business concept and target market. This will serve as the foundation for all your future decisions and strategies.

Business Concept: Begin by clearly defining your business concept. In this case, your aquaponic farming system aims to revolutionize sustainable agriculture by creating self-sustaining ecosystems where fish and plants coexist in harmony. Emphasize the innovative aspect of your farming system, which eliminates the need for traditional soil farming methods and promotes resource conservation and reduced environmental impact. Highlight how your turnkey solutions cater to the needs of individuals, schools, and businesses, empowering local communities to produce fresh, organic produce year-round.

Target Market: Identify and analyze your target market. Consider the demographics, preferences, and needs of potential customers who are likely to be interested in your aquaponic farming systems. This could range from health-conscious consumers seeking fresh, organic produce to educational institutions looking for sustainable farming solutions. By understanding your target market, you can tailor your marketing and sales strategies to effectively reach and engage with your potential customers.

Tips for Defining Your Business Concept and Target Market:

• Conduct thorough research to gain insights into the current market trends and opportunities in the aquaponics industry.
• Utilize market segmentation techniques to identify specific customer groups that align with your business concept.
• Consider conducting surveys or interviews to gather feedback from potential customers and understand their needs and preferences.
• Stay updated with industry developments and emerging technologies to continually improve and innovate your aquaponic farming systems.

Conduct Market Research And Analysis

Market research and analysis are crucial steps in developing a successful business plan for aquaponic farming systems. By gathering and analyzing relevant data, you can gain valuable insights into the market demand, competition, and potential opportunities for your business.

Start by identifying your target market . Determine who your potential customers are, such as individuals, schools, or businesses, and understand their needs and preferences. Consider factors like geographical location, demographics, and purchasing behavior.

Next, analyze the market demand for aquaponic farming systems. Research the current trends and growth potential of the sustainable agriculture industry. Look for data on the increasing demand for fresh, organic produce and the rising awareness of sustainable farming practices.

• Utilize various research methods such as surveys, interviews, and focus groups to gather information directly from potential customers.
• Explore online resources, industry reports, and government databases to access market data and statistics.
• Keep an eye on competitor activities and analyze their products, pricing strategies, and customer reviews.

Additionally, assess the competition in the market. Identify existing aquaponic farming businesses and analyze their strengths, weaknesses, and market positioning. Look for gaps or underserved areas in the market that your business can capitalize on.

• Visit local farmers' markets, food co-ops, and sustainable agriculture events to observe and learn from other aquaponic farmers.
• Build relationships with industry experts, local farmers, and potential customers to gain insights into the market.
• Consider conducting a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis to evaluate your business's competitive advantage.

Based on your research and analysis, refine your business concept and identify unique selling propositions that differentiate your aquaponic farming systems from competitors. Understanding the market dynamics and customer preferences will help you tailor your products and services to meet their needs, increasing your chances of success.

Assess The Feasibility And Profitability Of An Aquaponic Farming System

Assessing the feasibility and profitability of an aquaponic farming system is a crucial step before diving into this innovative and sustainable agricultural venture. By carefully evaluating the various factors and conducting thorough analysis, you can determine the viability of your business idea and make informed decisions. Here are some key considerations to keep in mind:

• 1. Evaluate market demand: Conduct market research to understand the demand for aquaponic products in your target market. Determine if there is sufficient demand to support your business and identify potential customers.
• 2. Assess competition: Analyze the competitive landscape to understand existing aquaponic farms in the area and their offerings. Identify your unique selling points and position your business accordingly.
• 3. Analyze costs and profitability: Calculate the costs involved in setting up and operating an aquaponic farm. This includes expenses such as infrastructure, equipment, labor, utilities, and maintenance. Compare these costs with projected revenue to determine the potential profitability of your venture.
• 4. Consider scalability: Assess the scalability of your aquaponic farming system. Determine if it can be expanded or replicated to meet increasing demand and generate more profits in the future.
• Engage with potential customers and stakeholders to gather feedback and insights about the feasibility and market potential of your aquaponic farming system.
• Consult with industry experts and experienced aquaponic farmers to gain valuable insights and advice.
• Consider conducting a pilot project or starting on a smaller scale to test the profitability and feasibility of your aquaponic farming system before investing heavily.

By carefully assessing the feasibility and profitability of your aquaponic farming system, you can ensure that you are making a sound investment and setting yourself up for success in the dynamic and evolving world of sustainable agriculture.

Identify Potential Funding Sources And Create A Financial Plan

Identifying potential funding sources and creating a financial plan is a crucial step in the process of starting an aquaponic farming system. This step will determine the feasibility and viability of your business idea, as well as provide a roadmap for managing your finances.

To begin, research and explore different funding options that are available for aquaponic farming systems. This can include government grants, loans from financial institutions, crowdfunding platforms, or even personal savings. Consider reaching out to local agricultural organizations or associations for additional guidance and potential funding opportunities.

• Research and identify grant programs or subsidies specifically targeted towards sustainable agriculture or innovative farming techniques.
• Consider approaching investors who are interested in supporting sustainable and environmentally-friendly initiatives.
• Explore crowdfunding platforms that cater to agriculture or sustainable projects.
• Ensure you have a clear understanding of the eligibility criteria, application process, and deadlines for each funding source.

Once you have identified potential funding sources, it is essential to create a detailed financial plan for your aquaponic farming system. This plan should outline your projected costs, revenue streams, and potential profit margins. It is important to conduct thorough research and analysis to ensure your financial projections are realistic and achievable.

Some key components to include in your financial plan:

• Startup costs: Calculate the initial investment required for acquiring land, infrastructure, equipment, and supplies.
• Operating costs: Estimate ongoing expenses such as labor, utilities, feed, maintenance, and marketing.
• Revenue streams: Identify potential sources of income, such as selling produce, fish, or value-added products.
• Break-even analysis: Determine the point at which your revenue will cover your expenses and your business becomes profitable.
• Cash flow projections: Forecast your monthly cash inflows and outflows to ensure sufficient liquidity for day-to-day operations.

By thoroughly analyzing your financials and exploring potential funding sources, you will be better equipped to secure the necessary resources to launch your aquaponic farming system successfully. Remember to regularly review and update your financial plan as your business evolves to adapt to changing market conditions and growth opportunities.

Develop A Comprehensive Marketing And Sales Strategy

When it comes to the success of your aquaponic farming system business, the implementation of a comprehensive marketing and sales strategy is essential . This strategy will help you effectively promote your products and services to your target market, generate leads, and ultimately convert those leads into loyal customers. Here are some key steps to consider:

• Identify your target market: Conduct thorough market research to understand the needs and preferences of your potential customers. Determine the demographics, location, and buying behavior of your target market in order to tailor your marketing messages and strategies accordingly.
• Create a strong brand identity: Develop a compelling brand story that reflects the values and mission of your aquaponic farming system business. Establish a unique brand name, logo, and visual identity that resonates with your target market and sets you apart from competitors.
• Build an online presence: In today's digital age, it is crucial to have a strong online presence. Create a professional website that showcases your aquaponic farming systems, highlights their benefits, and provides detailed information about your products and services. Utilize search engine optimization (SEO) techniques to improve your website's visibility in search engine results.
• Utilize social media: Leverage the power of social media platforms such as Facebook, Instagram, and Twitter to reach a wider audience. Regularly post engaging content, share updates about your aquaponic farming systems, and interact with your followers to build a community of loyal customers.
• Implement content marketing: Create informative and valuable content related to aquaponic farming, such as blog posts, videos, and infographics. Share this content on your website, social media platforms, and other relevant platforms to establish yourself as an industry expert and attract potential customers.
• Attend trade shows and events: Participate in relevant industry trade shows, conferences, and events to network with potential customers, establish partnerships, and showcase your aquaponic farming systems. These events provide valuable opportunities to generate leads and increase brand visibility.
• Offer exceptional customer service: Nurture your customer relationships by providing excellent customer service. Respond promptly to inquiries and concerns, offer personalized recommendations, and go above and beyond to exceed customer expectations. Positive word-of-mouth recommendations can significantly contribute to the success of your business.

Tips for Developing an Effective Marketing and Sales Strategy:

• Regularly track and evaluate the effectiveness of your marketing efforts using analytics tools to identify areas for improvement.
• Collaborate with influencers and industry experts to expand your reach and credibility.
• Offer promotions, discounts, or referral programs to incentivize customer loyalty and attract new customers.
• Stay up to date with the latest trends and advancements in aquaponic farming and incorporate them into your marketing messages to showcase your innovation.
• Continuously educate and engage your target market through workshops, webinars, and educational materials to build trust and establish yourself as a leader in the field.

By developing a comprehensive marketing and sales strategy, you can effectively reach your target market, build brand awareness, and drive the success of your aquaponic farming system business.

Secure Any Necessary Permits And Licenses

When starting an aquaponic farming system, it is crucial to ensure that you have obtained all the necessary permits and licenses to operate legally and smoothly. Failure to comply with the regulatory requirements can result in significant consequences, including fines, penalties, or even the closure of your business. To navigate through this process successfully, consider the following steps:

Research Local Regulations:

• Begin by researching the specific regulations and permits required for aquaponic farming systems in your local area. This may include permits for water usage, farming operations, zoning, and food handling, among others. Contact the appropriate government agencies or consult with professionals who specialize in agricultural and environmental regulations.
• Ensure compliance with any specific rules or guidelines that govern aquaponic farming practices, such as the use of specific fish species, water quality standards, and nutrient management.

Complete Necessary Applications:

• Fill out the required applications for permits and licenses accurately and thoroughly. Provide all the necessary supporting documents and information requested by the regulatory authorities.
• Pay attention to any deadlines and adhere to the prescribed timelines for submitting applications, as delays can affect your ability to start the operation promptly.

Engage with Local Authorities:

• Establish communication with the relevant local authorities and build positive relationships. This can be done by engaging in open and transparent dialogue, attending meetings, and seeking guidance when needed.
• Be prepared to address any concerns or questions raised by the regulatory bodies. Demonstrate your commitment to environmental stewardship, sustainability, and compliance with all regulations and regulations.

Consider Professional Support:

• Seek professional assistance to navigate the complex permit and licensing process, particularly if you are unfamiliar with the specific regulations governing aquaponic farming in your area.
• Agricultural consultants, attorneys, or industry experts can provide valuable guidance, review your applications, and ensure that you have met all the necessary requirements.

By securing the necessary permits and licenses , you demonstrate your commitment to operating a legal and compliant aquaponic farming system. This step not only mitigates potential legal issues but also helps build trust with customers, investors, and the local community. Ensure that you follow all regulations and maintain a proactive approach to compliance throughout your venture.

Design The Layout And Infrastructure Of The Aquaponic Farm

Designing the layout and infrastructure of your aquaponic farm is a crucial step in ensuring the success and efficiency of your operation. A well-designed farm will optimize space utilization, facilitate the flow of water and nutrients, and create a suitable environment for both fish and plants to thrive.

When designing the layout, consider the following important factors :

• Space Availability: Assess the available space and determine the size and scale of your aquaponic farm. Consider factors such as land or building dimensions, zoning regulations, and future expansion possibilities.
• System Components: Determine the placement of the essential components, including fish tanks, grow beds, filtration systems, and piping. Ensure that the layout allows for easy access and maintenance of these components.
• Flow of Water and Nutrients: Plan the flow of water and nutrients throughout the farm. Proper water circulation is vital for delivering nutrients to the plants and ensuring healthy fish. Consider using gravity or pumps to maintain the desired flow.
• Lighting and Climate Control: Take into account the lighting requirements of the plants and the optimal temperature range for both fish and plants. Incorporate proper lighting solutions and climate control mechanisms such as fans or heaters to create an ideal environment.
• Energy Efficiency: Explore ways to optimize energy efficiency by utilizing natural light, incorporating energy-efficient equipment, or implementing renewable energy sources. This will help reduce operational costs and minimize the environmental impact.

Tips for designing the layout and infrastructure:

• Make sure the layout allows for easy movement and maintenance. Leave sufficient space around each component for cleaning, repair, and upgrade.
• Consider the proximity of water and power sources when determining the layout to minimize the need for long pipelines and wiring.
• Consider the scalability of the farm. Leave room for expansion or additional systems if you plan to increase production in the future.
• Consult an aquaponics expert or seek guidance from experienced aquaponic farmers to ensure that your layout meets the specific needs of your chosen fish and plant species.

By carefully designing the layout and infrastructure of your aquaponic farm, you can create an efficient and sustainable system that maximizes productivity while providing a healthy and thriving environment for the fish and plants.

Source The Necessary Equipment, Supplies, And Technology

When it comes to starting an aquaponic farming system, sourcing the necessary equipment, supplies, and technology is crucial for the success of your business. Here are some key considerations to keep in mind:

• Research and identify reputable suppliers: Conduct thorough research to find reputable suppliers who specialize in aquaponic equipment, supplies, and technology. Look for suppliers with a track record of providing high-quality products and excellent customer service.
• Determine the specific needs of your aquaponic farm: Every aquaponic system is unique, so it's important to assess your specific needs and requirements. Consider factors such as the size of your farm, the number of fish and plants you plan to cultivate, and the type of technology you want to incorporate.
• Choose efficient and sustainable equipment: Look for equipment that is energy-efficient, durable, and designed for sustainable farming practices. Opt for technologies that promote water conservation, efficient nutrient cycling, and effective fish and plant management.
• Consider automation and monitoring systems: Automation and monitoring systems can greatly enhance the efficiency and productivity of your aquaponic farm. Explore technologies that allow you to monitor water quality, automate feeding and temperature controls, and track key metrics for optimal system performance.
• Seek out cost-effective options: While investing in high-quality equipment is essential, it's also important to find cost-effective options that align with your budget. Compare prices, explore bulk discounts, and consider leasing or financing options to make acquiring the necessary equipment more manageable.
• Join aquaponics forums and communities to get recommendations and insights from experienced aquaponic farmers.
• Attend trade shows and conferences related to aquaponics to stay updated on the latest equipment and technology trends.
• Consider collaborating with local suppliers or manufacturers to support the growth of your community's economy.

Remember, sourcing the necessary equipment, supplies, and technology is a critical step in establishing your aquaponic farming system. Take the time to research, assess your needs, and invest in reliable and sustainable solutions that will contribute to the long-term success of your business.

Assemble A Knowledgeable And Skilled Team Of Employees Or Partners

Building a successful aquaponic farming system requires a team of individuals who are experienced and passionate about sustainable agriculture. It is essential to assemble a knowledgeable and skilled team of employees or partners who can contribute their expertise to the success of your venture.

Identifying the right team members

When assembling your team, it is important to identify individuals who possess the necessary skills and knowledge in aquaponics, fish farming, and plant cultivation. Look for candidates who have a background in these areas or have demonstrated a keen interest and willingness to learn.

• Look for individuals with previous experience in aquaponics or similar sustainable farming systems.
• Consider conducting interviews or assessing candidates' practical skills through demonstrations or simulations.
• Seek out potential team members who are enthusiastic about your business idea and share a similar passion for sustainable agriculture.

Forming partnerships

In addition to hiring employees, consider forming partnerships with experts in the field of aquaponics. Collaborating with consultants or partnering with local farmers who have experience in aquaponics can bring additional knowledge and resources to your venture.

• Reach out to local universities, research institutes, or aquaponics associations to find experts who may be interested in collaborating.
• Explore the possibility of forming strategic partnerships with existing aquaponic farms to leverage their expertise and share resources.
• Consider establishing an advisory board consisting of industry experts who can provide guidance and support.

Nurturing a collaborative culture

Creating a collaborative and supportive work environment is crucial for the success of your aquaponic farming system. Encourage open communication, knowledge sharing, and ongoing professional development for your team members to foster a culture of continuous learning and improvement.

Investing in training and development

Provide your team with the necessary training and development opportunities to enhance their skills in aquaponics, farm management, and sustainable farming practices. This will not only empower your employees but also contribute to the long-term success of your business.

Assembling a knowledgeable and skilled team of employees or partners is instrumental in the success of your aquaponic farming system. By surrounding yourself with talented individuals who share your passion for sustainable agriculture, you can build a thriving business that revolutionizes the way we produce fresh, organic produce.

Developing a business plan for aquaponic farming systems is a crucial step towards success in the sustainable agriculture industry. By following these 9 steps, you can ensure that you have a comprehensive plan in place for your aquaponic farm, addressing key aspects such as target market, financials, marketing, infrastructure, and team.

By defining your business concept and target market, conducting market research, and assessing feasibility and profitability, you can lay a strong foundation for your aquaponic farming venture.

Identifying potential funding sources and creating a financial plan will allow you to secure the necessary resources for your farm, while developing a comprehensive marketing and sales strategy will help you promote and sell your products effectively.

Securing necessary permits and licenses, designing the layout and infrastructure of your farm, and sourcing the necessary equipment and supplies are key operational aspects that should be carefully planned and executed.

Lastly, assembling a knowledgeable and skilled team of employees or partners will ensure that you have the expertise and support necessary to run your aquaponic farm successfully.

With a well-crafted business plan in hand, you are ready to embark on your aquaponic farming journey, revolutionizing sustainable agriculture and contributing to a greener future.

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Aquaponics Business Plan Template [Updated 2024]

Aquaponics Business Plan Template

If you want to start an Aquaponics business or expand your current Aquaponics business, you need a business plan.

The following Aquaponics business plan template gives you the key elements to include in a winning Aquaponics business plan. It can be used for an aquaponics farming business plan or a commercial aquaponics business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of a successful Aquaponics business plan. Once you create your plan, download it to PDF to show banks and investors.

Aquaponics Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan

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Aquaponics Farm Business Plan Template

MAY.16, 2018

Do you want to start aquaponics business?

Do you wish to start a aquaponics business ? Aquaponics business has tremendously grown in the last few years. With agriculture becoming a main source of livelihood, you definitely make a lot of money in this business. One of the strongholds about this business is using creativity to produce food for different group of people from nonprofit, urban people and communities among others. Everyone needs to eat to function properly, and as long as you are growing healthy foods in your aquaponics farm, you will make cash. There are so many niche categories to choose from and with a well-laid out commercial cultivation business plan, you’re guaranteed to make good profits.

Executive Summary

2.1 the business.

The aquaponics business will be registered as Mary’s Shed and will be located in Baltimore, Maryland. The business will be owned by Ann Marie who’s an experienced agriculturist by profession.

2.2 Management Team

Ann Marie who’s the owner and manager of Mary’s Shed is an experienced agriculturist with a wide experience in the aquaponics industry that spans over 15 years. During her career, Ann has worked with various aquaponics farms and industry such as Ouroboros Farms gathering essential experience associated with aquaponics industry.

2.3 Customer Focus

In this aquaponics business model , focus will be on targeting customers who love eating healthy grown vegetables and animals. All food grown in Mary’s Shed will use a chemical-free method of growing.

2.4 Business Target

Mary’s Shed plans to offer healthy, chemical free and high quality products to a wide range of customers. After watching the local trends, Mary’s Shed is planning to target both local and regional customers.

Aquaponics Company Summary

3.1 company owner.

Ann Marie is an experienced agriculturist who has had the opportunity to work in various reputable aquaponics farms across the United States. Given her past experience, she knows how to start aquaponic farming business plan . Ann understands the various aspects involved in the niche selection, business marketing and the right strategy to use.

3.2 Aim of Starting the Aquaponics Business

Aquaponic businesses have become popular in recent times thus making the need to have farmers who can creatively cater for customer needs without affecting the environment negatively. People love eating healthy chemical free vegetables and animals because they don’t expose one to diseases but instead boost their health. Mary has the perfect approach to make sure customers get what they are looking for.

3.3 How the Business will be Started

Having worked in the aquaponic industry for over fifteen years, Ann Marie is a pro in aquaponics businesses as she has helped other businesses succeed. Given her agriculture experience, Ann clearly understands what needs to be done to come up with an all-inclusive financial plan for Mary’s Shed. She also plans to make use of free aquaponics business plans available on the internet.

Services for Customers

Having a well-thought-out aquaponic farm business plan will come in handy for the business development and service delivery. Mary’s Shed plans to offer its customers a wide range of awesome products. One of the best parts about starting an aquaponics business is it contributes positively to people health and wellbeing. Mary’s Shed hopes to conduct a comprehensive research to understand better what kind of vegetables, fruits and animals people prefer to eat. In order to successfully create an aquaponic business, it is essential to identify the products you wish to see and try to diversify where necessary. In this case, Mary’s Shed is planning to offer customers the following products:

• Grow fresh water fish including tilapia, silver perch, eel-tailed catfish, jade perch and Murray cod.
• Green leafy vegetables such as Chinese cabbage, lettuce, spinach, watercress, among others
• Fruits such as bananas, oranges, pineapple, strawberries and melons etc
• Healthy herbs to help people boost their immune systems which include basil, coriander, parsley, lemongrass, sage and mint among others.

In order to successfully create an aquaponic business, it is essential to identify the products you wish to see and try to diversify where necessary.

Marketing Analysis of Aquaponics Business

Ever since the growing trend of healthy eating, the market of organically grown vegetables, fruits and animals has greatly increased. The market has changed and customers want to eat chemical free grown food. With the rate of lifestyle diseases people are suffering from everyday such as cancer and diabetes, there is a need for healthy and nutritious vegetables and herbs. Starting an aquaponics farm business is a dream come true for Ann Marie. The aquaponics farm business plan at hand will use the aquaponic cycle technology which is water efficient, chemical free and sustainable method of growing.

According to recent research, the aquaponics business field had a mind blowing potential market size of $180m in 2013 and this is expected to go past $1 billion in sales by year 2020. Mary’s Shed plans to tap into the increasing market and thanks to a comprehensive aquaponics business plan , the business will be successful.

5.1 Market Segment

For Mary’s Shed to properly meet the needs of its customers, the professional business planning to offer various healthy products whose demand is high. Thus way, the business can effectively reach out to customers. In the aquaponics business plan sample , Mary’s Shed has carried out an in-depth market analysis to target the right customers with the right product in order to make them long term customers.

5.1.1 Households

Baltimore has a high population of households that are in need of healthy vegetables and meat. Research has shown an increase over the years in healthy food consumption in many households in Baltimore. People have become healthier conscious and want their children and loved ones to consume health food options. Given the demand for local healthy foods, Mary Shed plans to target these households to constantly supply them with chemical free grown fish, vegetables and herbs. According to Mary’s Shed aquaponics business plan template , this will be amojor revenue source for the business.

5.1.2 Retail Shops & Supermarkets

Baltimore has a many supermarkets and retail shops that sell vegetables and herbs. Most working class people pass by the supermarket frequently. Mary’s Shed plans to approach various supermarkets and retail shop to supply them with healthy leafy vegetables and fish. Since vegetables and fish are commonly loved by people, the supermarkets will use Mary’s Shed as one of their main vegetable supplier.

5.1.3 Hotels

Baltimore is a home to many prestigious and beautiful hotels in the United State. Most of these hotels require herbs, vegetables and fish to cook various recipes for their customers. Mary’s Shed plans to supply most of these hotels with the products they require making the customers happy. The fact that Mary’s Shed plans to grow chemical free products, it will be one of the selling point to the hotel owners.

5.1.4 Organic Markets

Over the years, the growth of organic markets in Baltimore has grown immensely. People flock to these markets looking for organically grown vegetables and herbs. Since Mary’s Shed plans to grown organic and non-gmo vegetables and plants, the products will definitely be loved by many. The business plans to supply sellers in the market with leafy vegetables and herbs.

5.2 Business Target

With the demand for aquaponic products increasing, Mary’s Shed has come up with a unique aquaponics business plan after going through various aquaponics business plan templates . This plan will cater for both local and external customers. Baltimore is a large city and business expects to make awesome sales by putting in place systems that will leave the customers asking for more. This aquaponic business models hopes to achieve an annual growth of between 30 -40%.

5.3 Product Pricing

In order for Mary’s Shed to achieve its targets, a detailed pricing survey was done in order to come up with affordable yet competitive pricing structure after observing the market patterns. Mary’s Shed also hopes to offer the best prices without hurting the business for the first month.

Aquaponics Farming Strategy

The aquaponics farm business has witnessed immense growth and it is expected more people will be joining. The need for healthy and well grown food products has grown and trends indicate an increase of chemical free products. When planning how on starting an aquaponics farm business, focus should be how to attract long term customers to keep a steady flow income.

High Quality Business Plan and Professional Support

It was amazing to work with OGS Capital for our business plan. They promptly responded our enquires and delivered document on time.The document was well organized high quality and content.We succeded with Alex and his team support. We thank you guys again for professional approach and easy communication.

6.1 Competitive Analysis

When you start an aquaponics business, it is important to analyze the market and come up with the best strategies to grow the business. Despite the growing number of aquaponics businesses in Baltimore, Mary’s Shed has come up with the best strategies to stay on top of the game.

6.2 Sales Strategy

For Mary’s Shed to advertise its aquaponics products, the following sales strategies will be adopted for marketing the business.

• Find a creative and customer-friendly approach of handling any complains to keep a positive image of the business
• Advertise the aquaponics business on local media channels such as television, radio and newspapers
• Offer new clients low prices for the first month in order to entice and allow them to see the quality of products
• Always aim to provide high quality chemically free vegetables.
• Advertise the business using digital marketing strategies such as Social media platforms (Facebook, Twitter and Instagram).

6.3 Sales Forecast

To achieve its sales targets, Mary’s Shed has formulated a detailed sales forecast to show how the subscription box business will perform when it begins operations.

Personnel Plan for Commercial Aquaponics

Mary’s Shed plans to employ an experienced small team of staff to run the business. How to start an aquaponic business expects you to identify your personnel team and what each role the member will play. It’s essential to come up with a staff budget to help the business know how much it will spend on staff salaries to keep them motivated.

7.1 Personnel Plan for Commercial Aquaponics

Mary’s Shed is owned by Ann Marie who will also become the manager of the aquaponic business. As preparations take shape to open the business, the following staff members will be hired to help on making the dream of the commercial aquaponics business plan come true. The team is expected to work closely together to facilitate a smooth flow of business activities.

Manager/Owner 1 Marketing Executive 1 Operations Manager 1 Accountant 2 Agriculturists 2 Aquaponic Experts

The staff will be trained in order to familiarize themselves with how an aquaponic business is managed on a day to day basis.

7.2 Average Salaries

Mary’s Shed plans to remunerate staff members the following salaries in the first three years of operation.

Financial Plan for Aquaponics Farm

Mary’s Shed has come up with an in-depth financial plan that will act as a guide on how the business will be run and managed. In this aquaponic farm business model, key financial parameters have been noted down. Ann Marie will raise capital from her personal savings and will collaborate with two investors. This requires make up business plan for investors . Prior planning how to start an aquaponic farm business, you need to know how about the expenses and costs involved to launch operations. A loan will also be secured to finance any budget shortage. Given the aquaponics profit margin , this is a business with high prospects if executed well.

8.1 Important Assumptions

The financial forecast for Mary’s Shed will be based on the assumptions below.

8.2 Brake-even Analysis

The Brake-even Analysis for Mary’s Shed is shown in the graph below.

8.3 Projected Profit and Loss

Below is the Profit and Loss information for the subscription box business calculated on a monthly and annual basis.

8.3.1 Monthly Profit

8.3.2 Yearly Profit

8.3.3 Monthly Gross Margin

8.3.4 Yearly Gross Margin

8.4 Projected Cash Flow

Below is a summary of pro forma cash flow, subtotal cash received, subtotal cash spent, subtotal cash from operations and subtotal cash spent on operations.

8.5 Projected Balance Sheet

Below is a Projected Balance Sheet for Mary’s Shed that shows assets, capital, liabilities, long term assets and current liabilities.

8.6 Business Ratios

The following is the Ratio Analysis, Business Net Worth and Business Ratios for Mary’s Shed.

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Aquaponic Farming in India – a Full Guide

Table of contents, farming technique, environmental, health & nutrition, aquaponic farming business plan in india, deep water culture (dwc), nutrient film technique (nft), aquaponics fish types, fishes suitable for aquaponic farming in india, vegetables suitable for aquaponic farming in india, plants to grow in an established aquaponics system.

Introduction of Aquaponic farming in India         

Aquaponics farming is a resilient farming system that offers wellness and better nutrition. It is a sustainable method of growing both fish and vegetables. It is becoming quite popular with individuals, entrepreneurs, educators, missions, and governments interested in modern farming.  Moreover, with this type of indoor farming, you grow considerably more food with less water, land, and labor than the traditional farming systems. Aquaponics is a form of farming that unites raising fish in tanks (recirculating aquaculture) with soilless plant culture (hydroponics).  In aquaponics, the nutrient-rich water from the fish supplies a natural fertilizer for the plants, and the plants help out to purify the water for the fish to survive.

A step by step guide to Aquaponic farming in India

Aquaponics can be employed to raise fresh fish and vegetables for a family, to give food to a village, or even to generate profit in a commercial farming business enterprise, year ‘round, in any environment. Aquaponics is a great technique of year ’round, indoor farming. It can be carried out anywhere, providing fresh food that is free of pesticides, herbicides, and chemical fertilizers.

Aquaponics is a sustainable technique of organic agricultural practice that comprises of a symbiotic combination of aquaculture and hydroponics system . While aquaculture represents the breeding, rearing, and harvesting of fishes and other aquatic organisms, hydroponics involves a system of growing plants without soil by using mineral nutrient solutions in a water solvent.

So, when these two different practices are pooled, the benefit s consist of the plants feeding on the discharge or waste of aquatic organisms as they maintain the water clean for the fishes. In addition to this symbiotic dependence, there is also an opportunity for microbes, which play a very significant role in the nutrition of the plants, in this space.

Benefits of Aquaponic farming in India:

• Yield about six times more per square foot than traditional farming.
• Aquaponics makes use of 90% less water than traditional farming.
• With the aquaponics system , one can grow any time of year, in any weather, anywhere.
• Because aquaponics recycles the water in the system, we can grow in droughts prone and areas with little water availability.
• Fewer pests since we are growing indoors.
• No headache of weeding
• For the commercial growers, aquaponics provides two streams of income, fish, and veggies, rather than just one.
• aquaponics farm does not have a need of farmland with fertile soil, or even land with soil; aquaponics can be constructed just as successfully on the sand, gravel, or rocky surfaces, which possibly will never be used as conventional farmland.

In case if you miss this: NABARD Schemes for Fish Farming in India .

Water Conservation: Water and nutrients are recycled in a closed-loop manner that conserves water.

Energy Conservation: Even with grow lights, less energy is consumed than conventional commercial farming. All energy utilized in aquaponics is electrical, so alternate energy systems such as solar, wind, and hydroelectric can be used to power an aquaponic farm.

Land Conservation: aquaponics system grows approximately six times more per square foot than traditional farming. Even abandoned warehouses can be used for establishing the system saving money, energy, and other valuable resources.

Fish are the best ever converter of plant protein to animal protein which is utilized in this system.

Fish have no growth hormones, no mercury, no chemicals or pesticides

Plants grown in aquaponics are safe and do not have any kind of chemicals

To have a successful aquaponic farming business plan the primary reasons for starting an aquaponic farm must be clear. Documenting your motives for starting the farm will assist you to focus the business plan and recognize the issues, the resources, and the expertise that will be needed to develop the business plan.

Aquaponic farming at home in India

Aquaponic farming at home can be successfully done you just have to research well about it constituents here we are giving all necessary information about the aquaponic system, suitable aquaponic fishes and aquaponic plants keep reading.

The media bed technique of aquaponics makes use of containers packed with rock media such as gravel or expanded clay (hydroton) to support the roots of plants. The bed is flooded and drained of nutrient-rich water to give the plants the nutrients and oxygen they need. The growing media used to support the plants plays the role of both a mechanical and biofilter to confine and breakdown wastes.

This is an inexpensive, simple to put together and productive at a small scale. Because the media supports plants like soil would, you are able to produce large root mass plants such as fruits, flowering plants, vegetables, and root vegetables. Because the media is not space-efficient and requires considerably more inputs of labor, media bed designs are hard to scale into commercial use.

Also recognized as raft or float systems, this system uses floating rafts to suspend plant roots into nutrient-rich and aerated water. The developing plant’s roots are suspended directly into a pool of water approximately 1 foot in depth. Since there are no media to detain and process solid wastes, filtration techniques must be incorporated into the design. This requires more advanced aquaculture techniques and system requirements, leading to higher upfront costs. The method can be utilized in various ways such as floating foam rafts on top of fish tanks or pumping water from the fish tank to floating rafts with plants floating on water surfaces

This design is suitable for commercial aquaponics production as it is the most stable of the three system types. Since there is much more water in the system, drastic nutrient and temperature fluctuations are much less likely to occur. It is best matched for warmer climates because although it would resist daily temperature swings, heating the water in colder climates is costly. In addition, larger root zone plants can be grown, and removing plants is much easier than in media beds.

These aquaponic designs are popular in the commercial industry because of their space efficiency and lower labor costs. Because crops can also be grown on a vertical plane (or shelf), they are easily reachable and harvestable. Most admired with hydroponic production, this method is best suited for leafy greens. This design is not suited for large fruiting plants as their root masses can clog up the channel and their weight may not be supported.

Fish are one of the chief components of an aquaponics system and play an essential role in the aquaponic system as they will be the source of natural fertilizer for the plants. Fish supply food and fertilizer for your plants, so it is imperative to plan which types of plants you want to grow and pair them with the right type of fish species.

• Temperature
• Fish availability in your location
• What fish is legal in your location?
• Fish Type and Maintenance Difficulty
• Size and Space Requirements
• Filtration Capacity
• Breeding Habits

Fast growth rate (about nine months from fingerling to harvest)

Trout prefer colder water and thrive in temperatures ranging from 56 – 68 °F making them ideal for a cooler environment.

Catfish are one of the best-farmed fish and are popular for their taste. Catfish are bottom feeders and valuable scavengers that can withstand a wide range of water conditions. They are not territorial and easy to breed and raise. Catfish thrive at a similar temperature to tilapia 75 – 85 °F and require a pH of 7 -8.

Bass thrive in a water temperature of 65 – 80 °F and pH of 6 – 8. Bass can be harvested within one year from fingerlings making it desirable aquaponic fish .  

• Types of Bass
• Large-mouth bass
• Hybrid striped

Salmon are well known for their taste and health benefits hence it is a desirable fish to raise in your aquaponics system. They require a large fish tank to thrive and take about two years to reach full size before harvesting. The favorable water temperature for salmon must be between 55 – 65°F and with pH in the range of 7 – 8.  

• Ornamental fish

Ornamental fish such as koi and goldfish are also a good choice, especially if you are only starting your system and want to test it, in the case you are not interested in utilizing fish as a food source, and varieties of ornamental and pet fish must be available in the market of your region.

Koi is one of the most admired ornamental fish raised in aquaponics. Koi have a long lifespan and can breed and survive comfortably within the aquaponic system. Koi can sustain many types of food and are also disease and parasite resistant. They thrive on temperatures of 65 – 78°F and pH level of 6.5 – 8.

Goldfish is an excellent ornamental fish for aquaponics that is easy to take care of. They are a tough fish species that can live in a high level of water pollution. Goldfish have a preference for temperatures of range 78 – 82°F and prefer a pH range of 6 to 8. Because of their small size and parasitic nature, goldfish are not edible.

The plants that are compatible with hydroponic systems will also be compatible with aquaponic systems in most cases since aquaponics is a type of hydroponics. Leafy green vegetables and herbs are most commonly and most successfully grown in the aquaponic system. Cucumbers and tomatoes are also often grown but might be a bit too advanced for a beginner opting aquaponics.

You may also check this: Vegetable Farming Profit Per Acre, Model Project Report .

Consider the following factors before you select plants for the aquaponic system;

• What type of system you are going to use.

The system could be a media-based, NFT, raft aquaponics system. These will decide the type of root structure that plants tend to have. Plants with less root structure will grow well in floating rafts; while root vegetables grow well in grow beds.

• Consider the requirements of your plants.

As a rule of thumb, the more similar your plant’s requirements to the requirements of the fish in your system, the superior they will grow. Select plants and fish that have similar needs as far as temperature and pH level are concerned since the closer they match the more success you will have.

• Environment

The amount of sunlight, temperature, and rain are all significant in growing a healthy plant. If you make a decision to grow outdoors, prefer a variety of vegetables that will grow best in your climate.

You could always make use of a greenhouse or grow indoors, but you need to research and find plants that do well inside with limited or artificial light. It is best to choose a plant that thrives in your climate, as this will also lower the electricity charges in maintaining your system.

Most commonly grown plants among experienced producers are:

• Leafy greens
• Swiss chard
• Bok Choy (Pak Choi)
• Radish sprouts

Different plants have different nutritional requirements, and your aquaponic system needs to be established to maintain plants with higher nutrient demands. A well-established system consists of all the beneficial bacteria necessary. A well-established aquaponics system is an arrangement that has been running for at least 6 months and up to 3 years.

These are the plants that grow well in an aquaponics system but requires higher nutrient needs and can be grown with some experience of aquaponics farming.

Tomato plants do exceptionally well in aquaponics systems. Tomatoes like warm weather but also need plenty of nutrient-rich water. Tomatoes are an excellent option for an aquaponics system where the environment can be controlled and where support system like trellis is planned for its vining growth habit.

Cauliflower

Cauliflower plants call for very little maintenance. They are also resistant to most bugs and diseases. Cauliflower is a water-based plant that grows very well in aquaponics systems.

Cabbage requires very little maintenance, which makes it one of the best plants in an aquaponics system. They grow well in water with a pH level between 6.2 and 6.6.

Peppers can be challenging to grow in traditional gardening, but it is one of the best plants to be raised in your aquaponics system. Peppers are very specific about the water that they consume and they have need of plenty of sunshine. Growing peppers using aquaponics permits you to monitor, and manage your nutrients in the water and lets you produce the perfect environment for your pepper plants.  

Strawberries

Strawberries necessitate very little space to grow and are quite easy to cultivate in an aquaponics system. Strawberries are one of the best plants to grow in aquaponics for the reason that there is a constant supply of nutrient-rich water and the ability to monitor and control the system environment. Another advantage is that you can grow them all year round in an indoor system.

In case if you are interested in Terrace Hydroponic Gardening .

Thanks for choosing agriculture and helping farmers by providing pertinent technical information.

The content is great. Please write an article how a beginner should proceed with AQUAPONICS step by step.

Hi, Thanks for sharing the knowledge! Could you please let me know any company/manufacturers details that can install aquaponic’s equipment at a reasonable cost? Thanks.

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