Document Type

Internship Report

Publication Date

Fall 2009


The recreational fishing industry in Florida generates tens of thousands of jobs and an overall annual economic impact of more than $5 billion dollars (Steinback et al. 2004). As part of this industry, the marine baitfish market in Florida, U.S.A. offers an excellent opportunity for the development of commercial aquaculture projects. The goggle eye, Selar crumenophthalmus, has been identified as potential baitfish species suitable for culture. An enterprise budget has been constructed identifying the initial capital, operating costs, and annual net income for a hypothetical goggle eye hatchery. The expected case production model yielded an estimated production cost of $1.101 per fingerling, an annual net return of $36,261.45, and a return on investment (ROI) of 25% with an initial capital investment of $142,886.19. Labor, electricity, and feeds were the most significant contributors to annual operating expenses at 67%, 13%, and 9%, respectively. A sensitivity analysis was conducted on final fingerling survival rate and sale price. The return on investment was calculated to measure profitability for the various scenarios.


Department: MAF

Location: University of Miami Experimental Hatchery

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