Before You Borrow Money For Fish Farming, Read This!
Before You Borrow Money For Fish Farming, Read This! by Yommiefish(op): 6:53pm On May 17Muyiwa was tired.Tired of seeing people post:“Fish farming changed my life.”“₦500k profit in 4 months.”“Catfish farming is the new oil.”Everywhere he turned on Facebook and YouTube, somebody was smiling beside ponds and holding big fish.So one day, he made a decision.He borrowed money.Five Million nairaMoney from cooperative.Money from friends.Money from family savings.Because in his mind, fish farming was simple:👉 Buy fish.👉 Feed fish.👉 Sell fish.👉 Make profit.What nobody told him was that fish farming can humble a grown man emotionally.Muyiwa had no mentor. Only Online Social Media MentorsNo practical training.Though he has little understanding of feed and feeding based on what was told online, but lack understanding of stocking density, grading, fish behavior, sales and marketingBut confidence was high.He stocked 5000 of post-fingerlings immediately because he wanted “Good ROI.”The first few weeks looked exciting.The fish were active.They rushed feed aggressively.Friends visited the farm and praised him, uploaded the videos and posted itHe started calculating profit in his head already.Then reality started quietly.First problem:Feeding reduced.Then mortality started.2 fish.5 fish.12 fish.People told him:“That one is normal.”So he ignored it.One morning, he got to the pond and saw dozens floating.Dead.That was the first day panic entered his heart.He changed water anyhow.Added salt because somebody online recommended it.Reduced feed. Add bitter leaf, add antibioticsIncreased feed again.Nothing was coordinated because he never truly understood what he was doing.Then, the price of feed went up as a result of inflation.Almost every week, the price of fish was going up.The money he borrowed was disappearing faster than the fish were growing.Soon, feeding became fear.Every bag opened felt like money burning.He started Rationing, someone advised him to formulate local feed to save cost. He did, then another problem for a newbie.Then water management became a problem because of the sinking feed that pollutes water so fast, he would have to pump water more than expected.At this point:The fish were not growing uniformly.Some were big.Many were tiny.His Cost started going up because of frequent water changesCannibalism had reduced the pond density because he never graded on time.The locally formulated feed was not giving the expected result.The nutrient requirements were not metLike Yakubu, he endured and ‘managed’ for 4 months.But the biggest shock came during sales.The buyers he expected never showed up.When they showed up the price was ridiculous.Middlemen even offered worst prices.Some said:“The fish never reach size.”“The Price of Fish have come down”“That’s the price farmer A, B, C, D and E is selling”“Town I, J, K, L are even selling lower than town U”Meanwhile the fish were still consuming feed every single day.He had stayed additional 3 weeks beyond the expected sales dayDebt pressure started building.Calls started coming.“When are you paying back?”“How far with the farm?”“You said harvest was this month…”Muyiwa stopped sleeping well. Praying, the fish should not die.Hoping the price will go up.The same business that looked exciting online was now giving him anxiety in real life.One evening, after calculating his expenses, he realized something painful:He was not farming fish anymore.He was feeding debt. More than 40% of his capital has gone.This is the hidden side of fish farming nobody posts online.Many people enter this business because of motivation…Filtered Online Post, etc.But stay trapped because they ignored Preparation.Fish farming is profitable.But experience matters.Mentorship matters.Training matters.Planning matters.Starting small Can teach you a lot.Before you borrow money for fish farming…Please learn first.
Before You Borrow Money For Fish Farming, Read This! by Yommiefish(op): 6:53pm On May 17Muyiwa was tired.Tired of seeing people post:“Fish farming changed my life.”“₦500k profit in 4 months.”“Catfish farming is the new oil.”Everywhere he turned on Facebook and YouTube, somebody was smiling beside ponds and holding big fish.So one day, he made a decision.He borrowed money.Five Million nairaMoney from cooperative.Money from friends.Money from family savings.Because in his mind, fish farming was simple:👉 Buy fish.👉 Feed fish.👉 Sell fish.👉 Make profit.What nobody told him was that fish farming can humble a grown man emotionally.Muyiwa had no mentor. Only Online Social Media MentorsNo practical training.Though he has little understanding of feed and feeding based on what was told online, but lack understanding of stocking density, grading, fish behavior, sales and marketingBut confidence was high.He stocked 5000 of post-fingerlings immediately because he wanted “Good ROI.”The first few weeks looked exciting.The fish were active.They rushed feed aggressively.Friends visited the farm and praised him, uploaded the videos and posted itHe started calculating profit in his head already.Then reality started quietly.First problem:Feeding reduced.Then mortality started.2 fish.5 fish.12 fish.People told him:“That one is normal.”So he ignored it.One morning, he got to the pond and saw dozens floating.Dead.That was the first day panic entered his heart.He changed water anyhow.Added salt because somebody online recommended it.Reduced feed. Add bitter leaf, add antibioticsIncreased feed again.Nothing was coordinated because he never truly understood what he was doing.Then, the price of feed went up as a result of inflation.Almost every week, the price of fish was going up.The money he borrowed was disappearing faster than the fish were growing.Soon, feeding became fear.Every bag opened felt like money burning.He started Rationing, someone advised him to formulate local feed to save cost. He did, then another problem for a newbie.Then water management became a problem because of the sinking feed that pollutes water so fast, he would have to pump water more than expected.At this point:The fish were not growing uniformly.Some were big.Many were tiny.His Cost started going up because of frequent water changesCannibalism had reduced the pond density because he never graded on time.The locally formulated feed was not giving the expected result.The nutrient requirements were not metLike Yakubu, he endured and ‘managed’ for 4 months.But the biggest shock came during sales.The buyers he expected never showed up.When they showed up the price was ridiculous.Middlemen even offered worst prices.Some said:“The fish never reach size.”“The Price of Fish have come down”“That’s the price farmer A, B, C, D and E is selling”“Town I, J, K, L are even selling lower than town U”Meanwhile the fish were still consuming feed every single day.He had stayed additional 3 weeks beyond the expected sales dayDebt pressure started building.Calls started coming.“When are you paying back?”“How far with the farm?”“You said harvest was this month…”Muyiwa stopped sleeping well. Praying, the fish should not die.Hoping the price will go up.The same business that looked exciting online was now giving him anxiety in real life.One evening, after calculating his expenses, he realized something painful:He was not farming fish anymore.He was feeding debt. More than 40% of his capital has gone.This is the hidden side of fish farming nobody posts online.Many people enter this business because of motivation…Filtered Online Post, etc.But stay trapped because they ignored Preparation.Fish farming is profitable.But experience matters.Mentorship matters.Training matters.Planning matters.Starting small Can teach you a lot.Before you borrow money for fish farming…Please learn first.
Before You Borrow Money For Fish Farming, Read This!
Before You Borrow Money For Fish Farming, Read This! by Yommiefish(op): 6:53pm On May 17Muyiwa was tired.Tired of seeing people post:“Fish farming changed my life.”“₦500k profit in 4 months.”“Catfish farming is the new oil.”Everywhere he turned on Facebook and YouTube, somebody was smiling beside ponds and holding big fish.So one day, he made a decision.He borrowed money.Five Million nairaMoney from cooperative.Money from friends.Money from family savings.Because in his mind, fish farming was simple:👉 Buy fish.👉 Feed fish.👉 Sell fish.👉 Make profit.What nobody told him was that fish farming can humble a grown man emotionally.Muyiwa had no mentor. Only Online Social Media MentorsNo practical training.Though he has little understanding of feed and feeding based on what was told online, but lack understanding of stocking density, grading, fish behavior, sales and marketingBut confidence was high.He stocked 5000 of post-fingerlings immediately because he wanted “Good ROI.”The first few weeks looked exciting.The fish were active.They rushed feed aggressively.Friends visited the farm and praised him, uploaded the videos and posted itHe started calculating profit in his head already.Then reality started quietly.First problem:Feeding reduced.Then mortality started.2 fish.5 fish.12 fish.People told him:“That one is normal.”So he ignored it.One morning, he got to the pond and saw dozens floating.Dead.That was the first day panic entered his heart.He changed water anyhow.Added salt because somebody online recommended it.Reduced feed. Add bitter leaf, add antibioticsIncreased feed again.Nothing was coordinated because he never truly understood what he was doing.Then, the price of feed went up as a result of inflation.Almost every week, the price of fish was going up.The money he borrowed was disappearing faster than the fish were growing.Soon, feeding became fear.Every bag opened felt like money burning.He started Rationing, someone advised him to formulate local feed to save cost. He did, then another problem for a newbie.Then water management became a problem because of the sinking feed that pollutes water so fast, he would have to pump water more than expected.At this point:The fish were not growing uniformly.Some were big.Many were tiny.His Cost started going up because of frequent water changesCannibalism had reduced the pond density because he never graded on time.The locally formulated feed was not giving the expected result.The nutrient requirements were not metLike Yakubu, he endured and ‘managed’ for 4 months.But the biggest shock came during sales.The buyers he expected never showed up.When they showed up the price was ridiculous.Middlemen even offered worst prices.Some said:“The fish never reach size.”“The Price of Fish have come down”“That’s the price farmer A, B, C, D and E is selling”“Town I, J, K, L are even selling lower than town U”Meanwhile the fish were still consuming feed every single day.He had stayed additional 3 weeks beyond the expected sales dayDebt pressure started building.Calls started coming.“When are you paying back?”“How far with the farm?”“You said harvest was this month…”Muyiwa stopped sleeping well. Praying, the fish should not die.Hoping the price will go up.The same business that looked exciting online was now giving him anxiety in real life.One evening, after calculating his expenses, he realized something painful:He was not farming fish anymore.He was feeding debt. More than 40% of his capital has gone.This is the hidden side of fish farming nobody posts online.Many people enter this business because of motivation…Filtered Online Post, etc.But stay trapped because they ignored Preparation.Fish farming is profitable.But experience matters.Mentorship matters.Training matters.Planning matters.Starting small Can teach you a lot.Before you borrow money for fish farming…Please learn first.
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