There are many factors that can influence the success of your aquaculture business. None may be as important as a sound and thorough business plan. Developing a sound business plan will help you think through your business and make decisions about your operation before you invest money. In addition, a business plan is vital if you plan to seek financing for your operation.
Aquaculture Business Planning and Management
Being able to accurately determine cost and return in business allows you to plan to maximize potential profit and determine expenses, cash flow and other important aspects of management. In a business with as many risks as aquaculture this is a wise choice to begin your business planning. This online tool will give you the opportunity to do “what if” scenarios when planning your business. As you gain more accurate figures from the operation of your business it will be a valuable tool to track and make better projections for fine tuning it.
Online Economic Spreadsheet Tool for Oyster Aquaculture Link (Google Chrome is the preferred browser for this tool)
Interpreting Results from the UMD Online Economic Spreadsheet Tool for Oyster Aquaculture
Maryland Online Shellfish Aquaculture Business Planning Tool Webinar
Aquaculture Business Planning Webinar
If you would like assistance in developing a business plan or evaluating your business, please contact:
Matt Parker, PhD
Aquaculture Business Specialist
University of Maryland Extension
Prince George’s County Office
6707 Groveton Drive
Clinton, MD 20735
301-868-8780 ext 428
(301) 599-6714 (fax)