FreeIgboho:
Go into teaching

Esthered:
Good morning Fam,

I have a relation who lost his means of income (white collar job) over 5 years ago. He has tried his hands in catfish farming to no avail after not breaking even in rearing to maturity and selling. He also tried backward integration in the Value chain of catfish farming by going into hatchery but yet to break even till date.
He's about to dispose a land to invest in this catfish hatchery and I don't forsee him making profit.

Please what do you think a man of that age can do as his children are graduates trying to find their feet and not dependent on him.

socialmediaman:


There are trained professionals whose job it is to help a struggling business person understand why and where he/she is failing. For instance, is the failure due to high costs at the supply chain, production, operations, sales etc. So i recommend meeting a business consultant with experience in fish farming to help him out. It's important he figures out what he's not doing right before investing money he can't afford to lose.

Esthered:


I'm told that he has someone that he consults who even trained him and doing well in the business. I asked him upon my last visit what is he not doing right as he even loses the fishes sometimes after hatching.
I want him to do something else that may be worthwhile. Thanks for your comment.

socialmediaman:


He may need help with the numbers. For instance, how many fish do I lose out of a batch while growing them, that will result in a loss when I eventually sell? A good professional will help him understand the numbers, like, If you buy 100 and lose 20, you will incur a loss when you sell eventually. So in order to hedge that loss, you need to sell for a higher price, or if that won't work, you need to buy 300 instead of 100, since you're losing 20% of the fish, so that you can make a profit when you sell. It's possible that starters like him make similar mistakes but more quantity helps them make profit, it's from a business evaluation that you'll understand that you shouldn't go into a business with less than x amount of capital if you want to make a profit, based on the losses usually incurred by newbies in their first year, something like that This is just a very basic example of why a professional is needed

Mercychen:


Go into teaching at 60? You wan finish the old man?

He can only work as a supervisor in a school, not a teacher.

ibechris:
Set cement business for him...

And again it depends on his capital. If he has close to 5million naira he can as well mix it with white cement.

Location of this business also matters.

Good luck to him.

merieam16:
He should learn a skill

On a serious note, maybe opening a church at least it's also a business

Esthered:
Good morning Fam,

I have a relation who lost his means of income (white collar job) over 5 years ago. He has tried his hands in catfish farming to no avail after not breaking even in rearing to maturity and selling. He also tried backward integration in the Value chain of catfish farming by going into hatchery but yet to break even till date.
He's about to dispose a land to invest in this catfish hatchery and I don't forsee him making profit.

Please what do you think a man of that age can do as his children are graduates trying to find their feet and not dependent on him.

ogawisdom:
Food stuff business is the best bet

Beans, rice, Garri, yam

He should quit animal production biz it's very risky n stressful

Mohzus:
Beer parlor

AbleGodDidIt:
How about setting up a food stuff shop for him?
Supermarket
Or a wholesales dealer on drinks(pet bottles and canned)

Esthered:
Good morning Fam,

I have a relation who lost his means of income (white collar job) over 5 years ago. He has tried his hands in catfish farming to no avail after not breaking even in rearing to maturity and selling. He also tried backward integration in the Value chain of catfish farming by going into hatchery but yet to break even till date.
He's about to dispose a land to invest in this catfish hatchery and I don't forsee him making profit.

Please what do you think a man of that age can do as his children are graduates trying to find their feet and not dependent on him.

Esthered:


I'm told that he has someone that he consults who even trained him and doing well in the business. I asked him upon my last visit what is he not doing right as he even loses the fishes sometimes after hatching.
I want him to do something else that may be worthwhile. Thanks for your comment.

AlphaTaikun:

How's it going Esthered?

Wow... 5 years of being out of paid employment. Is your relative based in Lagos or Benin just like you? Benin City is near Lagos.

I know where the problem is and it can be easily fixed.

Okay, based on intel available to me spanning from 2006 till now, a lot of folks who have made it in the aquaculture sector did somethings differently from what your relative did OR is doing based on the training from the so-called professional.

These folks worldwide used a device that prevents fish and fingerlings from being lost in large numbers so that a good ROI is guaranteed. The device stops bad
water from killing the fish or
fingerlings.

If he can reach out to the man who first started the commercial aquaculture business in Nigeria in the 1990s by the name of Mr. Israel Adediran (a.k.a Mr. Fish) in Lagos, then he will fix the problem by supplying the water device. He was the first person to import the portable water device into Nigeria from Singapore back in 2008 to stop the death of aquatic life.

Google his name now to get his direct phone numbers and call.

I wish your senior citizen relative the very best in retirement.


Cheers.

Esthered:


Thank you so much for this information.