List of Sea Food Processing Business Ideas to Earn Huge Profits
Can you imagine the market and demand for Sea Food? It is really interesting to know that Sea Foods have very high demand in the market because of its nutritious values. It is identified around 300 seafood processing startups. ThisFish, SmartCath, LoveTheWild, FishLog, and AquaConnect are 5 among the many solutions to check out. To know more about the global distribution of these 5 and 295 more startups, go through this below article!
Our Innovation Analysts just looked into emerging tools and up-and-coming firms. As there is a large number of firms working on a wide range of solutions, we plan to share our insights here. So, let’s take a look at encouraging seafood processing keys.
A step-by-step guide to Sea Food processing business in India
Sea Food processing business plan
Preparing a Sea Food processing business plan is the most essential factor. While beginning any product-based business you should perform market research, also must identify the demand in the market for various types of processed meat. Additionally, you also should verify the availability of the raw material. Once you gather all the information and design a Sea Food processing business plan then it will aid you in making proper decisions for the business.
Create a Sea Food processing business plan depending on your capital and Sea Food processing plant size. You must check for competitors’ business ideas which will help you to prepare a business plan for a Sea Food processing plant.
License, registration and permissions required to start Sea Food Processing Business in India
While beginning the venture you must determine the legal format of the business. You can start by registration of a Person Company or you may register a business as LLP, Pvt. Ltd or Ltd Company. Get Trade License from the local authority.
It is important to have GST registration. This type of small-scale manufacturing may not require NOC from Pollution Control Board. Choose a notable, likable name of your brand.
Below is the list of licenses required before starting the Sea Food Processing business making business in India: Registration of firm, GST registration, Trade license, Pollution certificate, MSME/SSI registration, EPI and ESI registrations, Trademark, FSSAI registration, IEC code, FPO act.
Business Entity: The first registration for any business is to register it as a business entity by knowing about the form of the organization. It could be as a sole proprietorship or a partnership or a limited liability partnership or a one-person company. This will help in availing a few benefits to the business and must, therefore, be selected carefully before registering the business at the Registrar’s office.
FSSAI registration: A Sea Food Processing business is classified as the processing of food or food products and thus as per the definition requires an FSSAI registration. Food Safety and Standards Authority of India (FSSAI) is meant for protecting and promoting public health by regulation and supervision of food safety hence FSSAI is a mandatory registration/license for the business. The FSSAI registration process is entirely online and quite easy to follow, once the documents are ready.
Shop Act or Trade License: The Sea Food Processing business for example in Maharashtra, India requires applying for a Shop Act License from the local municipal authority to run the business. This license helps manage the working conditions along with working hours, leaves, wages, holidays, etc. of the employees and supports the business to run smoothly.
Udyog Aadhaar Registration: A Sea Food Processing business is categorized as a small business and hence it must be registered under Udyog Aadhaar which is a registration and recognition for MSMEs- micro, small, and medium enterprises.
GST Registration: Every business, including the Sea Food Processing business, should associate with taxes at some point and for monitoring a single uniform taxation structure, the business should get a common GST number which stands for Goods and Service Tax.
BIS certification: Apart from these registrations the business should get BIS certification as well as tax liabilities.
No Objection Certificate from State Pollution Control Board: A Sea Food Processing business doesn’t cause any pollution so no clearance is needed, however, it is recommended to check it with the State Pollution Control Board of the locality where the business is established.
List of top Seafood Processing startups
For our 5 picks of seafood processing startups, we employed a data-driven startup scouting approach to recognize the most relevant keys globally. The Global Startup Heat Map down highlights 5 interesting instances out of 295 relevant solutions. Based on your specific requirements, your top picks might look completely different.
ThisFish – Fish Labelling
To support consumers and to trace the seafood they purchase, fish harvesters keep a unique code using a tag or label and update the information about their handling and shipping of fish to the cloud. For instance, the Canada-based non-profit firm ThisFish works on seafood traceability by QR-tags. It helps to track a fish’s journey back to its origins and gives the data on who caught it, when, where, and how through exclusive QR cloud-connected tags.
LoveTheWild – Fish Packaging
As perishable fresh seafood was naturally shipped in wooden or waxed boxes, distributors and the seafood industry have encountered a shift to consumer-friendly packaging. Currently, seafood packaging is modified to fit modern consumers’ preferences providing a lot of pre-cooked variations. US-based LoveTheWild packages fish with pre-packed sauces, providing pre-cooked dinner options. Consumers can then use a ready package to place in the microwave or oven and obtain a sustainable dish.
SmartCatch – Fish Harvest Control
Many commercial fishing companies encounter dissimilar issues associated with fish bycatch and government fines for hauling rare species. In this aspect, startups help decrease the amounts of unintended catches and stop fines for catching out-of-season fish by delivering hardware and software control devices. SmartCatch, a startup from abroad, provides fishermen with eyes inside their nets, aids capture and organize data at the point of harvest, manage the net from the wheelhouse, and specifically releases the unwanted catch.
FishLog – Fish Processing-as-a-Service
Things like post-harvest planning, processing, logistics handling, managing, and marketing have always been troublesome for seafood farmers. The appearance of several Something-as-a-Service solutions that support farmers with getting more benefits out of their fish business is aiming at resolving this problem. Indonesian FishLog provides fish processing services that aid farmers connect with buyers, sell their fish, and teach the farmers how to harvest good fish as well as support in storing and transferring fish.
AquaConnect – Real-Time Fish Data
A dynamic fish market requires its stakeholders to accomplish business data at a very rapid pace. As rapid access to high-standard catch depends on the high demand, startups begin to provide solutions that interconnect data from catchers to sellers in a short time. The Indian initiative AquaConnect by the Coastal Aquaculture Research Institute helps to plan fish sales by including production and operation data in an application so that the exporters get catch details in real-time.
Investment required to start the Sea Food Processing business in India
If you are choosing any small-scale business in Sea Food processing then you must pay for raw materials and other things such as packaging material and other things. If you are inaugurating a small scale business then employees’ remuneration is also essential. The capital for small scale Sea Food processing business is Rs. 1 lakh. Additionally, on a large scale basis, the equipment can be around 2.30 lakh rupees. The cost of raw material could be about Rs. 10,000. Therefore, the entire cost could be estimated to 1-1.5 lakh rupees.
For beginning the business, you must plan for the budget. You may charge around 150 to 200 rupees per kilogram in the market. Not only this, but you can also directly contact and have a network with restaurants and hotel industries.
In case if you miss this: Ideas To Make Money In India.
Profit in Sea Food processing business in India
Because of the high demand, the profit margin in Sea Food processing business is high. One can gain up to 2000 rupees every day. The profit margin in the Sea Food processing business is much more for wholesale dealers. If you carefully follow the above-mentioned steps you can earn income through Sea Food processing business though you have spent less capital.
What about the other sea food business solutions?
While we believe data is key to making insights it can be easy to be overwhelmed by it. Our goal is to create a comprehensive summary and provide actionable innovation intelligence for your Proof of Concept (PoC), partnership, or investment targets. The 5 seafood processing startups showcased above are promising instances out of the 300 we examined for this article. To recognize the most appropriate solutions based on your specific principles and collaboration strategy, get in touch.
How to sell Sea Food at a farmers market
You can focus on establishing the circulation network in the local market. Also, look for about sell Sea Food at a farmers market as this is also one of the markets for the Sea Food processing business.
How to sell processed Sea Food at the wholesale market
Moreover, dealing with departmental stores, supermarkets, and retail chains is essential. Also, you can think through contacting the restaurants, big hotels, and resorts in the wholesale market as big hotels, resorts, and restaurants are the main consumers of processed meat.
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How to sell processed Sea Food online
B2B websites: To capture the online Sea Food business in India it is very important to register your business on B2B websites like Alibaba, Indiamart, Tradeindia, Exportersindia where you can sell your product on bulk orders.
B2C websites: B2C websites like Amazon, Bigbasket, Tendercuts are also a perfect platform where you can sell your product which is directly reaching to the customer.
Processed Sea Food export business in India
Processing Sea Food has marvelous demand in the export market as well thus it is suggested you look for the Sea Food export business in India, to begin the export of process Sea Food you must apply for the IEC code which is compulsory to export or import any product.
Additionally, you must focus on developing brand awareness among the people for your Sea Food processing business.