Updating Your Business Plan

Fishing boat drooping fish off at a tender in Prince William Sound, Alaska. A small skiff is also next to the boat. Forest in background.

When thinking about expanding your fishing operation (i.e. buying a new vessel, permit or additional quota, or direct marketing), take the time to think through all implications carefully.

Writing or revising your business plan is one of the best ways to do this.

FishBiz Plan

The University of Minnesota, in conjunction with Sea Grant programs from around the country, created FishBizPlan, an online tool that takes you step-by-step through the process of writing a business plan.

Examples and categories used in this tool are geared specifically for commercial fishermen. Included are extensive video tutorials on creating and using financial statement spreadsheets.

You can use this tool to generate balance sheets and cash flow analyses, along with a complete written business plan.