Can Aquaponics Be Profitable – A century earlier, the industrial farming sector did not exist. However, many customers now get their fruits and vegetables from supply chains that are rife with chemical pesticides, non-sustainable agricultural methods, and serious environmental concerns.
It’s easy to see why many small-scale farmers are turning to aquaponics to break free from the constraints of traditional farming.
After all, the prospect of producing crops in less time and rearing ready-to-eat fish in your own garden is appealing. Many growers are now considering to build a commercial business utilizing this approach since it is so appealing. Is aquaponics, however, financially viable?
Because aquaponics is still a relatively new practice for commercial practitioners, there aren’t many large-scale economic studies on its profitability.
The high upfront investment cost, which makes aquaponic profitability a pricey effort for the typical individual, is another limiting factor for long-term research.
In this post, we’ll look at the business aspect of aquaponics and teach you how to make your aquaponics system more profitable.
Common Types of Aquaponics Systems
DIY, Mini Tank System, and Commercial Aquaponics are the three primary categories of aquaponics based on scalability. A DIY backyard aquaponics system is the way to go if you’re a fan of the farm-to-table movement and want to harvest food for your family at any time.
A tiny system will be the perfect choice if you are new to aquaponics and only want to grow a few herbs. Meanwhile, if you want to take it to the next level, commercial aquaponics is an option.
Keep in mind that the operating costs of aquaponics are relatively significant before getting into the trend of sustainable farming methods for commercial purposes.
To keep your system working, you’ll need more electricity. Aquaponics, on the other hand, conserves water and has lower overall recurring costs than traditional agriculture.
Making Money An Aquaponics
Despite its long-term viability and benefits, aquaponics cannot guarantee success when used for commercial purposes. A 2014 study from Johns Hopkins University sheds some light on the financial viability of aquaponics.
The study examined the financial success of 257 commercial aquaponics growers, the majority of whom were based in the United States. The following are the study’s principal findings:
- A greenhouse was employed in most commercial operations in addition to the aquaponics setup.
- Aquaponics enterprises are typically 1,307 sq. ft. or 0.03 acres in size,
- with 40% of producers using a residential system and the rest using agricultural and commercial zones.
The majority of participants used multiple aquaponics systems (nutrient film technique, deep-water culture, media beds), with media beds and deep-water systems being the most popular.
- 31% of those who responded said their business venture was a success
- In the next 12 months 55 percent are expected to be profitable,
- while 75 percent are expected to be profitable in the next 36 months.
How To Increase Aquaponics Profitability
The study also noted that the success of a commercial aquaponics operation could be attributed to three factors:
- Increase The Knowledge
Growers with a deeper understanding of aquaponics are more likely to have a successful business. As a result, diving into aquaponics without first learning the basics is not a good idea. There are also courses available to learn more about the business side of aquaponics.
2. System Consistent
Those who used aquaponics as their major source of revenue were “five times more likely” to succeed than those who didn’t devote effort to keeping the system up and running.
3. Variety of products related to aquaponics
In addition to selling plants and fish, growers can also profit from products or services like aquaponics courses or consulting.
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