Start A Commercial Fishing Business - Business Ideas

Updated: September 15th, 2022
Start A Commercial Fishing Business

Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.

The commercial fishing industry is one of the most exciting industries to get involved in and can be lucrative if you are willing to put in the time and effort. Do you love the ocean and fishing as your hobby? The idea that you could get paid for doing something you thoroughly enjoy can be an incredibly tempting proposition. Fishing for a living seems like the perfect job.

Listed are the steps to start a commercial fishing business.

  • Register your business name
  • Get the proper licenses and regulations in order.
  • Get a boat that fits the boat requirements.
  • Get a buyer and secure the contracts.
  • Hire a crew
  • Secure all needed materials and supplies

Starting a commercial fishing business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell , or selling online, you can use this page as a guide for everything you'll need to know.

Key Stats

market size
$2.03B
starting costs
$30.1K
gross margin
30%
time to build
720 days
growth
Organic social media
business model
Subscriptions
time investment
Full time

Startup Costs

Min Startup Costs Max Startup Costs

Office Space Expenses

$0

$6,900

Employee & Freelancer Expenses

$151

$352

Business Formation Fees

$5,600

$20,400

Equipment & Supply Expenses

$63

$700

Inventory Expenses

$350

$14,750

Vehicle Expenses

$2

$10,004

Training & Education Expenses

$0

$2,000

Website Costs

$13

$215

Food Business Expenses

$25

$500

Retail Business Expenses

$0

$950

Advertising & Marketing Costs

$75

$2,486

Successful Businesses

Business URL Rank

Austral Fisheries

australfisheries.com.au

1,100,337

Jones Fish Hatcheries

jonesfish.com

1,128,483

Double Eagle Deep Sea Fishing

doubleeagledeepseafishing.com

2,249,289

Southland Pontoon Boats

southlandpontoonboats.com

3,693,153

Scottish Fishermen's Federation

sff.co.uk

3,939,663

First Choice Marine Supply

firstchoicemarinesupply.com

4,264,543

Commercial & Personal Marine Insurance

insuremarine.com

5,217,734

MarineCo

marineco.co.uk

6,141,313

Neil Marine

neilmarine.com

8,395,120

Pros & Cons

Pros Description

Rewarding work

Starting a commercial fishing business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.

Scalable

With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.

Meaningful business connections

You never know who you will meet as a commercial fishing business. This could be the start of an incredible business opportunity!

High customer retention rates

Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.

Pick & choose the clients you work with

Commercial Fishing Businesses have the ability to choose the clients they work with. You have the freedom to work with only a few loyal clients or with hundreds of clients!

Unlimited income potential

With starting a commercial fishing business there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make.

Cons Description

Crowded Space

Competition is high when it comes to your commercial fishing business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.

Motivation of employees

If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.

Longer Sales Process

A commercial fishing business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.

Low margins

The gross margins for your commercial fishing business are typically around 30%, which can make it more challenging to incur new expenses and maintain profitability.

High employee turnover

In the commercial fishing business, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.

Work can be inconsistent

As a commercial fishing business, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.