Yes, you most definitely can make a profit with aquaponic farming if you go about it the right way. Let’s see if we can help…
There are many aquaponics farms all over the world producing vegetables and other plants using aquaponics and selling their produce for profits. Aquaponics is much more profitable than the traditional way of farming because it uses less water, you don’t need many liquid nutrients and other supplements, it grows much more vegetables in the same space and the veggies grow faster too.
Overall, it’s a “win-win-win” situation. It doesn’t get better than that.
Knowing how to setup your aquaponics business will require you to do some research. The most important thing is that you try it out on a small scale first and see if you’re successful at it. You will learn the tips and tricks of the trade only by being hands on.
Everything is cheaper on a smaller scale and your mistakes will not be costly. Once you get the hang of it, expansion will not be a problem and you can scale your system quite easily.
It would be great if you could learn as much about aquaponics as you can before you start because learning now is far better than dealing with mistakes in hindsight.
Research it online, get a few aquaponics books and even an online aquaponics course will be very helpful in educating you. Knowledge is crucial to your success.
Visit an Already Profitable Aquaponic Farm
The first thing you will want to do is check out what other aquaponics farms look like and if you have one within a few hours of where you live, it will be worth your drive to check it out – just call first to be sure they’ll accept you as a visitor. You might be surprised at how warm, friendly and helpful many of these water farmers can be.
Do your research and model yourself after the successful ones. Seek an expert’s opinion and try to speak to the owners of the other farms and ask for advice. Try to find farms far away from yours so that they do not worry about competition unless you’re just setting up as a hobby, or small scale to feed your family.
Make a List of Needed Aquaponic Equipment
Next, you will need to make a list of all the equipment you will need and see if your budget allows it. Always allow for some leeway. Do not over extend yourself. There will always be some unexpected costs so you will need to be prepared.
Draw up a “Profit with Aquaponics” Business Plan
If you need one, hire a professional to draw up a detailed business plan for you with estimations on cash flow, fixed and variable costs and projected sales statements. This will help greatly if you wish to secure a loan in future.
Decide on the Location of Your Aquaponic Farm
Find a suitable location. This is crucial and should never ever be underestimated. The location of your aquaponics farm will determine how successful you are. Several aquaponics farms have gone bust simply because they chose the wrong location. Just like a storefront, location is vitally important.
Your farm needs to be in an area with sufficient sunlight for the plants to photosynthesize. Temperatures should be stable and not fluctuate wildly. There must be enough space surrounding your farm just in case you wish to expand in future. It can be a big heartache in future if you wish to expand your farm but you are constrained by structures that can’t be moved thus limiting your potential for expansion.
Find a Reliable Supplier with Good Prices
Next up, you will need to source for and buy your hardware, equipment and whatever else you will need. Search for the most reliable suppliers that can also provide good pricing and deals. You need to exercise due diligence here because costs and quality can differ greatly from place to place.
If your plan is to operate commercially, you will also need to register your farm, get all the necessary licenses and approvals, do the whole IRS thing and comply with all tax requirements to avoid future legal issues. Hiring a lawyer would be a good idea.
Lastly, you will need to market your products. This is beyond the scope of this article but when the time comes to scale up your operation, all you need to do is find someone experienced to help you with your marketing.
That’s a basic version of how you make money with aquaponics. Whether you’re looking at aquaponic farming as a profitable business or a way to decrease and even eliminate the family food costs, it’s profit either way.
There’s so much more that you’ll discover and learn as you go along. The best thing your can do now is to learn as much as you can before starting and keep learning as you go and you will succeed. A course that may help you a lot is at http://myliquidsupplements.com/aquaponics-guide and there’s more to learn in our aquaponics section at http://myliquidsupplements.com/aquaponics where you’ll find numerous articles to help you prepare to profit with aquaponics.