Entrepreneur
Name
Adeola
Member since
February 2021
On-time repayments
13 installments • 31%
About Me
My name is Olafare Adeola
I'm from Nigeria. I am a trader and a farmer, I buy crayfish and dried fish directly from the fisherman, and resell in wholesale in the city.
My Business
I'm into fish farming and fish business, I sold in wholesale to the people in the market once in a week. I have been in the business for about 2years and is a lucrative one for me
Loan Proposal
There are different fish smoking equipment used for drying fishes. The most popular of all is the traditional method of using firewood and local ovens but the quality of fish produced by this method is not always of international standard. In addition, this method requires expertise to get a good batch because some of the fish get burnt at the process and is bitter. If you are to use this method, avoid direct fire or excessive smoke to be reaching the fish racks.
The new modern kiln has so many advantages over the traditional ovens of smoking fishes. The mechanical kiln is faster, produces better fishes and at larger batches. But, if you are to start fish smoking, i will advise you build local kilns from welders and go for bigger ones as you expand.
Packaging of fish
Fish packaging is very important because it gives integrity and competence to your work. The more appealing the package, the greater the market potential. Most smoked fishes are selling in malls, superstores and even as an export commodity because they are packaged.
Income Source
Fishes are not commodities that last without a proper preservation technique. So many farmers who are into fish production most times sell off their fishes at the melange stage (300g to 500g) to save the cost of feeding and also to turn over quickly. Fish farmers who are not able to get buyers at this stage can either raise it to table size (600g and above), dry or smoke it.
To be a successful smoked fish producer, you can look out for this opportunity to purchase melange size fishes at the cost of #400 to #600. After smoking fishes of this size, you can sell at a wholesale price of #1200 to #1500. While table size smoked fish of more that 1kg can be sold from #2500 to #3500 depending on the size of the fish.
So, the profit margin solely depends on the number of fishes you are able to smoke in a month – and i must tell you out of experience that it is worth the stress.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$66.00
Date disbursed
Mar 8, 2021
Repayment status
On Time
Projected term
6 weeks
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