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Greenhouse Production of Tropical Fish: Start-Up Budget, Cash Flow, and Revenue Analysis
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Title: Greenhouse Production of Tropical Fish: Start-Up Budget, Cash Flow, and Revenue Analysis
Physical Description: Fact Sheet
Creator: Zimet, David
Publisher: University of Florida Cooperative Extension Service, Institute of Food and Agriculture Sciences, EDIS
Place of Publication: Gainesville, Fla.
Publication Date: 1999
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Acquisition: Collected for University of Florida's Institutional Repository by the UFIR Self-Submittal tool. Submitted by Melanie Mercer.
Publication Status: Published
General Note: "Published: July 1999."
General Note: "CIR 1223"
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Source Institution: University of Florida Institutional Repository
Holding Location: University of Florida
Rights Management: All rights reserved by the submitter.
System ID: IR00001841:00001

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1.This document is CIR 1223, one of a series of the Food and Resource Economic Department, Florida Cooperative Extension Servic e, Institute of Food and Agricultural Sciences, University of Florida. Published: July 1999. Please visit the EDIS Web site at http://edis.ifas.ufl.edu .The Institute of Food and Agricultural Sciences is an equal opportunity/affirmative action employer authorized to provide resea rch, educational information and other services only to individuals and institutions that function wit hout regard to race, color, sex, age, handicap, or national ori gin. For information on obtaining other extension publications, contact your county Cooperative Extension Service office. Florida Cooperative Extension Service / Institute of F ood and Agricultural Sciences / University of Florida / Christine Taylor Waddill, Dean2.David Zimet is an associate professor at the North Florida Research and Education Center. Anthony LaColla is a research analy st, Cooperative Extension Service, Institute of Food and Agricultural Sciences, University of Florida, Gainesville, 32611.CIR 1223Greenhouse Production of Tropical Fish: Start-Up Budget, Cash Flow, and Revenue Analysis1David Zimet and Anthony LaColla2IntroductionThe system of producing tropical fish presented in this report is based on an indoor greenhouse system. A greenhouse is required because the fish are tropical and require warm temperatures. Therefore, geographic location and seasonal temperatures are critical to successful production. Because of potentially great energy costs, the greenhouse system described in this analysis may not be suitable in North Florida. The greenhouse is assumed to be 100 by 30 feet and is covered by plastic, not glass. Well water and sponge filters are used. Each greenhouse contains ninety-two 225-gallon concrete vaults. Half the vaults are used for growout, and each is capable of holding 500 fish. The remaining half are used for brood stock. A production cycle requires approximately four to five months, including any necessary cleanup, thus allowing 2.5 to three production cycles per year. Because of the capital outlay required, it is an expensive production method that is oriented towards fish varieties which achieve higher prices in the market.Economic AnalysisThe economic analysis is based on interviews with cichlid producers who utilize the greenhouse system. In the analysis, the start-up costs (Table 1) are presented first. Next, the enterprise budget (Table 2) summarizes variable and fixed costs of production. A production analysis (Table 3) is presented next in regards to survival rates and cost of production. Following the production analysis, a six-year tabular cash flow analysis (Table 4) addresses the total expenditures for the first six years of the business individually and on a cumulative basis. Also, a six-year cash flow analysis (Tables 5a and 5b) is addressed for varying survival rates. Gross revenue (Table 6) is then presented for three selected sales prices. Finally, net yearly revenue (Tables 7a and 7b) is described at differing prices.Start-up RequirementsRequirements to establish a greenhouse are presented in Table 1. The total start-up costs, including the quarter acre of land required, are approximately $43,075. Construction cost for the greenhouse accounts for $18,000, or around 42% of total start-up costs. The plumbing represents $1,500 (3.5%) of start-up costs while electrical installation adds $1,000 (2.3%). A one horsepower water pump and one-half horsepower air pump contribute $1,195 (2.8%) to the total. Because the costs of drilling a well are highly variable, between $500 and $3,000, they have been excluded, but ought to be included by the prospective producer who should conduct an analysis similar to the one here. The 92 concrete vats or vaults account for $13,800 (32%) of establishment cost. Sponge filters represent $1,380 (3.2%) of start-up cost while brood fish account for the final $4,600 (11%) of total start-up costs.

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Greenhouse Production of Tropical Fish: Start-Up Bud g et, Cash Flow, and Revenue Analysis Pa g e 2Au g ust 1999 Table 1. Start-up Costs for Greenhouse Tropical Fish Production. Ninety-two 225g allon vats per house, 30 x 100 foot house. ITEMPRICECOSTECONOMIC LIFE QUANTITY AND UNIT1$ $ YEARS Land 1/4 acre 5,000/acre 1,250 N/A Greenhouse One Greenhouse construction 18,000 18,000 15 plumbin g 1,500 1,500 10 electric 1,000 1,000 20 Plastic Rolls 1 roll, 100' to 150' 350 350 2-3 Brood 46 fish 100/fish 4,600 4 225 gal. Vault or Vat 92 150 13,800 15 Water Pump One 1HP 750 750 5 Air Pump One HP 445 445 5 Filters 92 15 1,380 2-3 Total Start-up Cost $43,075 1) All costs are rounded to the nearest dollar. Total start-up cost, however, is the rounded sum of the individual unrounded costs. Thus, Total Start-up Cost does not equal the sum of the cost column.Yearly repair and maintenance (projected to be 5%Enterprise BudgetThe costs for an annual enterprise budget for a typical 52-week year are presented in Table 2. Total yearly costs amount to $37,073. The single greatest cost is 60 hours per week ($7 per hour) of labor which accounts for $21,840, or 59% of total yearly costs. Distribution at $2,850 is the second greatest cost item, representing 7.7% of total annual costs. Electricity is the third greatest cost at $2,400 (6.5%). Depreciation, a non-cash cost, is the fourth greatest cost representing $2,154 (5.8%). Depreciation is calculated on a straight line basis. Because the enterprise will occur in a structure on land, taxes and insurance are included in the fixed cost, amounting to $1,491 (4%). Insurance is purchased at a minimum charge of $500, while taxes are calculated at a 23-mils rate (based on east central Florida rate). A $50 per year aquaculture certificate of registration is also required by the Florida Department of Agriculture and Consumer Services. of start-up cost exclusive of land charges) is noteworthy at almost $2,091. Operating capital, estimated at $922, is charged for four months at 12% per year on total variable costs. It is charged because it is assumed that the operation will need operating capital until the first fish harvest is completed. Fixed capital is charged at 8% of the average cost of each item in Table 1 and represents the opportunity cost of capital. Feed and other important substances, such as copper sulfate and salt, are a small part of the total costs, representing just over $1,500 or over 4% of yearly total costs. In sum, fixed costs represent 15% of total costs and variable account for 85% of total costs.

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Greenhouse Production of Tropical Fish: Start-Up Bud g et, Cash Flow, and Revenue Analysis Pa g e 3Au g ust 1999 Table 2. Annual Enterprise Costs. 30 x 100 foot Greenhouse, ninety-two 225g allon vats per g reenhouse. Costs:Variable Costs: ItemQuantity and UnitsPriceCost2$$ Electricity 3540 KWH/month 200 2,400 Labor 60 hours per week x 52 weeks 7 21,840 Medicated Feed 3 50 lbs/ba g 20 60 Feed 52 50 lbs/ba g 18 936 Copper sulfate 12 1 lb/ba g 33 6 Salt 52 50 lbs/ba g 10 520 Repair and maintenance 5% of start up cost less land .05 2,0911Operatin g Capital 1%/4 months 27,771 922 Distribution Costs 633 boxes (75 fish/box) 4.50 2,850 Subtotal Variable Costs $31,6552Fixed Costs Insurance 1 policy 500 5003Certificate 1 DACS Certificate 50 50 Property Tax 23.10 mils .023 962 Capital Char g e 8% of start-up cost .08 1,723 Depreciation start-up cost / 20 years N/A 2,1544Subtotal Fixed Cost 5,4172Total Costs $37,073 1) Repair and maintenance is estimated to be 5% of start-up costs excludin g the cost of land. 2) Costs are rounded to the nearest dollar and thus do not sum to the subtotal shown in the table. 3) Insurance is char g ed at the minimum amount that a policy would cost. 4) Strai g ht-line depreciation based upon the economic life indicated in Table 1 is used.When labor costs are included and there are 2.5Production AnalysisThe production analysis in Table 3 presents production costs for 2.5 and three fish production cycles per year taking into account survival rates of fish. (Fish may be lost to disease, cannibalism, or defects.) In order to assure that all costs are accounted for, the analysis is based upon the enterprise budget. Total cost is divided by the fish production quantities to obtain the cost of producing one fish at that specific survival rate percentage. In order to evaluate the profitability of a given variety produced in a known production and management system, compare the cost of producing one fish to known selling prices. This analysis assumes a selling price of $0.60 per fish. and three cycles per year, the estimated cost per cycle will be $14,829 and $12,358, respectively (Table 3). Assuming three cycles per year are completed at an expected survival rate of 75%, 51,750 fish will be produced at a total cost of $37,074. Each fish would cost $0.716. Assuming there are 2.5 production cycles per year at a 75% survival rate, 43,125 fish will be produced at a total cost of $37,056. The cost of production for each fish will be $0.860.

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Greenhouse Production of Tropical Fish: Start-Up Bud g et, Cash Flow, and Revenue Analysis Pa g e 4Au g ust 1999 Table 3. Production Analysis for Survival Rates and Cycles Per Year. One 30 x 100 foot g reenhouse, ninety-two 225g allon vats each holdin g 500 fish, includin g paid labor costs and excludin g paid labor costs. 3 Cycles Per Year: Cost per Cycle is $12,358 with paid labor and $4,829 without paid labor. Survival RatePaid Labor Cost($)/Fish Yearly Number of FishWithout Paid Labor ProducedCost($)/Fish 90%62,1000.5970.235 85%58,6500.6320.249 75%51,7500.7160.282 65%44,8500.8270.325 60%41,4000.8950.352 2.5 Cycles per Year: Cost per Cycle is $14,829 with paid labor and $5,831 without paid labor.Survival Rate Paid Labor Cost($)/Fish Yearly Number of Fish Without Paid Labor Produced Cost($)/Fish 90% 51,750 0.716 0.282 85% 48,875 0.759 0.298 75% 43,125 0.860 0.338 65% 37,375 0.992 0.390 60% 34,950 1.061 0.417If labor costs are excluded and there are 2.5 andSeveral base assumptions were made to perform the three cycles per year, the total cost per cycle will becash flow analysis: $4,859 and $5,831, respectively (Table 3). Assuming three cycles per year and a survival rate of 75%, 51,750 fish will be produced at a cost of $0.282 per fish, amounting to a total cost of $14,577. If 2.5 production cycles per year are achieved at a 75% survival rate, 43,125 fish will be produced at a cost of $14,577, or $0.338 per fish. The overall effect of survival rates on costs can be considered minimal. Higher or lower survival rates do equate to significantly higher or lower costs. Because the impact of higher or lower food and chemical costs on the overall annual enterprise costs (Table 2) is minimal, they are considered inconsequential. Six-Year Cash Flow AnalysisThe cash flow analysis (Table 4) presents the total yearly expenditures over the period of six years including loan repayments and replacement costs as well as cumulative totals for all six years. All start-up costs were assumed to occur in the first year of operation. A six-year horizon is used in order to demonstrate the effects of most replacements. Only one year would be left on the loan repayment. a six-year loan of approximately 50% of start-up costs, an interest rate of 10%, an annual loan payment of $6,888 beginning in the second year, replacement of items such as filters, plastic, air and water pumps, and one production cycle with 75% survival in year 1 (to allow for set-up), 2.5 cycles are completed in year two, three cycles per year are completed in subsequent years. In years two and three survival remains at 75%, then increases to 85% in years 4 to 6. The exclusion of labor costs from the first set of yearly expenditures and the cumulative cost summary reflects the assumption only family labor will be used, and it will not be paid. However, labor costs for 60 hours per week are included in the second set of cost data in the table for use by those who will pay labor.

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Greenhouse Production of Tropical Fish: Start-Up Bud g et, Cash Flow, and Revenue Analysis Pa g e 5Au g ust 1999 Table 4. Six-Year Cash Flow Analysis. One 30 x 100 foot g reenhouse, ninety-two 225g allon vats, $0.60 per fish. Six Year Cash Flow Analysis YEAR OneTwoThreeFourFiveSix Investment43,075 Operatin g Cost 3,9269,8159,8159,8159,8159,815 Insurance +Tax 1,4911,4911,4911,4911,4911,491 Loan Repayment 06,8886,8886,8886,8886,888 Replacement Costs 0 01,7304,6001,1951,730 Total Expenditure (no paid labor) 48,49218,19419,92422,79419,38919,924 Cumulative Total Expenditure (no paid labor) $148,718 Income 38,97025,87531,05035,19035,19035,190 Annual Net Cash Flow -9,5227,68111,12612,39615,80115,266 Cumulative Net Cash Flow $52,748 Yearly Labor Costs 21,84021,84021,84021,84021,84021,840 Total Expenditure (paid labor) 70,33240,03441,75444,63441,22941,764 Cumulative Expenditure (paid labor) $279, 758 1) Based on one production cycle with 75% survival in year one, 2.5 cycles in year two, three cycles per year in subsequent years, but survival rates of 85% in years 4-6. 2) Based on a $30,000 loan for six years at 10 percent interest and one production cycle.To better understand the impact of survival rates, the number of production cycles per year, and labor costs; a six-year cash flow analysis was performed for differing survival rates. Tables 5a and 5b follow many, but not all, of the base assumptions found in the cash flow analysis of Table 4: a six-year loan of approximately 50% of start-up costs, an interest rate of 10%, an annual loan payment of $6,888 beginning in the second year, replacement of items such as filters, plastic, air and water pumps, and one production cycle in year 1 (to allow for set-up).

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Greenhouse Production of Tropical Fish: Start-Up Bud g et, Cash Flow, and Revenue Analysis Pa g e 6Au g ust 1999 Table 5a. Six-Year Cash Flow at differin g survival rates. One 30 x 100 foot g reenhouse, ninety-two 225 g allon vats, at $0.60 per fish, including paid labor costs1Six-Year Cash Flow with 3 cycles per year Survival rateYear 1Year 2Year 3Year 4Year 5Year 6 Six-year net cash flow 90%-27,912-2,774-4,504-7,374-3,969-4,504-51,038 85%-28,602-4,844-6,574-9,444-6,039-6,574-62,078 75%-29,982-8,984-10,714-13,584-10,179-10,714-84,158 65%-31,362-13,124-14,854-17,724-14,319-14,854-106,238 60% -32,052-15,194-16,924-19,794-16,389-16,924-117,278 Six-Year Cash Flow with 2.5 cycles per year Survival rateYear 1Year 2Year 3Year 4Year 5Year 6 Six-year net cash flow 90% -27,912-8,984-10,714-13,584-10,179-10,714-82,088 85% -28,602-10,709-12,439-15,309-11,904-12,439-91,403 75% -29,982-14,159-15,889-18,759-15,354-15,889-110,033 65% -31,362-17,609-19,339-22,209-18,804-19,339-128,663 60% -32,052-19,064-20,794-23,664-20,259-20,794-136,628 1) To allow for construction and set-up, year one includes only one production cycle.The analyses in Tables 5a and 5b assume that the number of production cycles after year one will remain constant through year six. As in the first cash flow analysis (Table 4), labor costs for 60 hours per week are included (Table 5a) for use by those who will pay labor. A summary of cash flow has also been included (Table 5b) for those who will only use unpaid family labor.

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Greenhouse Production of Tropical Fish: Start-Up Bud g et, Cash Flow, and Revenue Analysis Pa g e 7Au g ust 1999 Table 5b. Six-Year Cash Flow at differin g survival rates. One 30 x 100 foot g reenhouse, ninety-two 225g allon vats, excludin g paid labor costs.1Cash Flow with 3 cycles per year Survival rateYear 1Year 2Year 3Year 4Year 5Year 6 Six-year net cash flow 90% -5,81019,72117,99115,12118,52617,99183,540 85% -6,50017,65115,92113,05116,45615,92172,500 75% -7,88013,51111,7818,91112,31611,78150,420 65% -9,2609,3717,6414,7718,1767,64128,340 60% -9,9507,3015,5712,7016,1065,58117,300 Cash Flow with 2.5 cycles per year Survival rateYear 1Year 2Year 3Year 4Year 5Year 6 Six-year net cash flow 90% -5,81013,51111,7818,91112,31611,78152,490 85% -6,50011,78610,0567,18610,59110,05643,175 75% -7,8808,3366,6063,7367,1416,60624,545 65% -9,2604,8863,1562863,6913,156 5,915 60% -9,9503,4311,701-1,1692,2361,701-2,050 1) To allow for construction and set-up, year one includes only one production cycle.The net revenue analysis (Tables 7a and 7b) takesGross Revenue and Net RevenueTable 6 illustrates how varying survival rates and production cycles affect gross revenue. The analysis also demonstrates how variability in market price can influence gross revenue. Gross revenue was obtained by multiplying the expected number of fish at each survival rate (Table 3) by differing market prices ($0.45, $0.60, and $0.75). Assuming a 75% survival rate and three cycles per year, a producer can expect a gross revenue of $31,050 at $0.60 per fish. If there are 2.5 cycles per year and a 75% survival rate, the producer can expect a gross revenue of $25,875 at $0.60 per fish. the same approach as gross revenue regarding survival rates, production cycles, and market prices, however, the net revenue analysis takes into account fixed and variable costs (Table 2). Table 7a represents net revenue including labor costs while Table 7b excludes labor costs and assumes the use of unpaid family labor. If labor costs are assumed, high survival rates and market prices are needed to obtain a profit.

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Greenhouse Production of Tropical Fish: Start-Up Bud g et, Cash Flow, and Revenue Analysis Pa g e 8Au g ust 1999 Table 6. Gross Revenue. One 30 x 100 foot g reenhouse, ninety-two 225g allon vats. 3 Cycles/yearGross revenue at differing prices Survival rate$0.45/fish$0.60/fish$0.75/fish 90% 27,94537,26046,575 85% 26,39335,19043,988 75% 23,28831,05038,813 65% 20,18326,91033,638 60% 18,63024,84031,050 2.5 Cycles/year Gross revenue at differing prices Survival rate $ 0.45/fish $0.60/fish $0.75/fish 90% 23,288 31,050 28,813 85% 21,994 29,325 36,656 75% 19,406 25,875 32,344 65% 16,819 22,425 28,031 60% 15,728 20,970 26,213 Table 7a. Net Yearly Revenue. One 30 x 100 foot g reenhouse, ninety-two 225g allon vats, including paid labor costs. 3 Cycles/yearNet revenue at differing prices Survival rate$0.45/fish$0.60/fish$0.75/fish 90% -9,1281879,502 85% -10,680-1,8836,915 75% -13,785-6,0231,740 65% -16,890-10,163-3,435 60% -18,443-12,223-6,023 2.5 Cycles/yearNet revenue at differing prices Survival rate$0.45/fish$0.60/fish$0.75/fish 90% -13,785-6,0231,740 85% -15,079-7,748 -416 75% -17,666-11,198-4,729 65% -20,254-14,648-9,041 60% -21,345-16,103-10,860

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Greenhouse Production of Tropical Fish: Start-Up Bud g et, Cash Flow, and Revenue Analysis Pa g e 9Au g ust 1999 Table 7b. Net Yearly Revenue. One 30 x 100 foot g reenhouse, ninety-two 225g allon vats, excluding paid labor costs. 3 Cycles/yearNet revenue at differing prices Survival rate$0.45/fish$0.60/fish$0.75/fish 90% 13,36722,68231,997 85% 11,81520,41029,410 75% 8,71016,47224,235 65% 5,60512,33219,060 60% 4,05210,26216,472 2.5 cycles/yearNet revenue at differing prices Survival rate$0.45/fish$0.60/fish$0.75/fish 90% 8,71016,47224,235 85% 7,41614,74722,079 75% 4,82911,29717,766 65% 2,2417,84713,454 60% 1,1506,39211,635must be obtained for the enterprise to be profitable. DiscussionAt all survival rates displayed, if only 2.5 cycles per year are attained, costs per fish are well above $0.70. Similarly for 3.0 cycles, the cost per fish are about $0.55 or higher. Given that prices of over $0.60 per fish to the producer are highly uncommon, the costs per fish have two major implications. First, variety selection is critical. That is, there are varieties of fish that generally obtain prices greater than $0.50 $0.60, but the producer must determine which varieties they are and who wholesales those varieties. Second, management is also of great importance. To emphasize the importance of management, the difference in cost per fish (Table 3) between a 65% survival rate at 2.5 cycles per year and an 85% survival rate at three cycles per year is $0.36 per fish, more than 50% of a reasonable target price. Because of the possibility of using solely unpaid family labor to operate a greenhouse tropical fishThis section of the report is divided into three enterprise, and thus exclude the opportunity cost ofsub-sections, closing remarks, conclusions and labor, the enterprise might not be economically contacts The closing remarks are oriented towards profitable, but might realize a positive cash flow soonvariety selection and some management considerations. after the greenhouse is in operation. The costsThe conclusions are more general. Finally a number of presented in Table 2 may be converted into the cost percontacts to assist existing and prospective producers fish presented in Table 3. For the survival rates listed,are given. The prospective producer must realize that a selling price greater than the production cost per fish greenhouse production of ornamental tropical fish is a For 2.5 cycles per year and a 75% survival rate the cost per fish is $0.860. A selling price greater than $0.860 must be obtained to generate a profit. Tables 5a and 5b present a six-year cash flow analysis including and excluding labor. Assuming 60 hours per week in labor are necessary for operation, a positive cash flow may never be realized when labor is paid. If labor costs are not included (Table 5b) a positive cash flow can be achieved, although survival rates of over 75% and 3 cycles per year are needed to allow substantial profit. The producer might find it necessary to use paid labor, rather than unpaid family labor. Based on annual net cash flow, an average of 25-30 hours per week of paid labor could be used and still allow the producer to obtain neutral cash flow. Closing Remarks and Conclusions

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Greenhouse Production of Tropical Fish: Start-Up Bud g et, Cash Flow, and Revenue Analysis Pa g e 10Au g ust 1999high cost method of production as compared to open outdoor ponds.Closing RemarksEach part of these remarks concerns one of the two significant areas that were determined to be significant in the analysis presented in this report. The reader should consider them as recommendations. Fish variety selection. There are groups of varieties of Lake Malawi cichlids, especially varieties of Pseudotropheus and Melanochromis that are fairly popular or common and generally obtain prices over $0.60 from wholesalers. Varieties among the Pseudotropheus are: albino zebras, cobalt blue zebra, kenyi, and socolofi. Varieties among the Melanochromis are: chipokee and johanni. A number of angelfish varieties or species often obtain prices over $0.55 per fish. There are thus potentially profitable production alternatives, but the individual producer must be responsible for determining varieties and the quality standards that will be profitable. Wholesalers should be contacted. Management. A greenhouse ornamental tropical fish enterprise must be managed with great care. A cost difference of as little as $.05 per fish can make the difference between profit and loss. The needs of the fish must be met in order to obtain a high survival rate. Because the fish are very small and the total biomass in each tank is low, contrary to most fish aquaculture enterprises, feed does not account for a significant percentage of operating costs. Labor is critical. The number of hours indicated in the enterprise budget (Table 2: 60 hours per week) is a good rule of thumb. The prospective producer should plan on spending that much time on the operation. If that requirement cannot be met with unpaid family labor, someone must be hired. Due to the high cost of labor, only a balanced mix of paid and unpaid labor may keep the cash flow positive. If labor becomes a cash expense, the importance of survival rate to profitability is magnified.ConclusionsThe greenhouse production of ornamental tropical fish can be profitable but risky because of unstable market conditions. It is a small industry that caters to a specific market segment, specifically tropical fish hobbyists. It is, in essence, a niche or speciality market. The Christmas season is the season of greatest sales. Recently, however, other activities such as those related to computers, have caused a decline in tropical fish sales. In addition, the appeal of specific varieties have always been subject to change, causing price fluctuations for specific varieties. Similar to all such markets, marketing and customer service are at least as important as production. Therefore the prospective producer must have a clear understanding of the market requirements before initiating production. By far, labor is the most important aspect of production to consider. If the supply of unpaid family labor is insufficient to meet production needs, production can be unprofitable. Because production techniques must be learned, experience is necessary to obtain profitable levels of productivity. To ensure profitability, high survival rates and three or more production cycles per year must be achieved quickly with minimal use of paid labor.ContactsWholesalers can provide much of the necessary information and insight. Prospective producers should contact the Florida Aquaculture Association or Tropical Fish Farmers Association, P.O. Box 1519, Winter Haven, FL 33882, (941) 293-5710, to get a list of wholesalers. The Bureau of Seafood and Aquaculture of the Florida Department of Agriculture and Consumer Services, 2051 East Dirac Drive, Tallahassee, FL 32310, (850) 488-0163, also offers assistance to farmers to acquire permits and licences as well as assist in the resolution of problems with regulatory agencies. The University of Florida Tropical Aquaculture Laboratory, 1408 24th Street SE, Ruskin, FL 33570, (813) 671-5230, can also provide insight on production.AcknowledgmentFunds for this analysis were provided by Ponce De Leon Port Authority, Volusia County, Florida.