The principal aim of a feasibility study is to evaluate a site’s potential for the development of an aquaculture operation.
The feasibility study represents a relatively short study, that depending upon the outcome, is usually a precursor to the more in-depth studies that would be required to develop a full business plan. Feasibility studies require a site assessment, the collection and collation of site specific data, and depending upon the proposed culture species, a review of appropriate technologies and potential markets.
Depending upon the proposed development, the study usually includes a review of historical hydrological and climate data, water quality and quantity analysis, soil sampling, land use and ownership, available infrastructure, logistics and the availability of inputs (feed, supplies etc.). This information is used to generate the feasibility study report that outlines potential development scenarios. These comprise species choice, technology requirements and production concepts, indicative investment requirements, production estimates, a risk assessment, draft budgets and estimates of project profitability, market demand, and licensing and permitting procedures.