Feasibility Analysis Of Sea Fish Retailers (Case Study: Diponegoro Market, Tegal Sari Village, Kisaran Barat District, Asahan Regency)

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Feasibility Analysis of Sea Fish Retailers Business in Diponegoro Market

Introduction

The fishing industry is a significant contributor to the economy of many countries, providing a source of income for millions of people worldwide. In Indonesia, the fishing industry is a vital sector, with a large number of people employed in the industry. However, the industry faces several challenges, including the need to ensure the sustainability of fish stocks, the impact of climate change on fishing practices, and the need to improve the livelihoods of fishermen and their families. One of the key areas of focus in the fishing industry is the retail sector, which plays a crucial role in getting fish from the sea to the consumer. In this study, we examine the feasibility of sea fish retailers in the Diponegoro Market, Tegal Sari Village, Kisaran Barat District, Asahan Regency.

Methodology

The study used a purposive method to determine the research area, while the census method was applied to determine the samples involved. The census method involves collecting data from all members of a population, in this case, the sea fish retailers in the Diponegoro Market. The data collected included information on the number of fish sold, the price of fish, and the income earned by traders. The data was analyzed using a descriptive method, including the calculation of Break Even Point (BEP), R/C ratio, and Spearman rank correlation analysis through SPSS software.

Results

The results of the study showed that the average income earned by sea fish retailers reached Rp 410,021 per trader per day, with an average sales volume of 132 kg of sea fish. The analysis also showed that the business of sea fish retailers in this region was declared feasible to be developed, as evidenced by the average BEP production of 108 kg and BEP price of Rp 25,034. In addition, the R/C ratio obtained is 1.12, which shows that every one rupiah invested will generate Rp 1.12, signifying profits.

The Spearman rank correlation analysis showed a very strong relationship between the number of fish sold and the income received, with a value of 0.872, which is greater than 0.05. This shows that the more fish sold, the income earned by traders will also increase significantly.

Business Feasibility Analysis

Business feasibility is an important aspect in determining whether a business can survive and develop in the long run. Based on the analysis conducted, the business of sea fish retailers in the Diponegoro Market shows good potential. The average daily revenue that reached Rp 410,021 shows that this business gives profitable results. With a fairly stable sales volume, traders have the opportunity to increase their income by carrying out various marketing strategies or expanding the distribution network.

Low BEP, which is 108 kg, shows that traders do not need to sell fish in very large amounts to cover their operational costs. It also gives confidence to traders that they can run this business with a relatively low risk. The ratio of R/C which is larger than one is also an indicator that this business is profitable and feasible to continue.

From a sociological perspective, this effort not only provides financial benefits to traders but also contributes to the local economy. The surrounding community can get access to fresh and quality fish products. With this business, employment opportunities are also open, which can reduce unemployment in the region.

Conclusion

Overall, the business of sea fish retailers in Diponegoro Market, Tegal Sari Village, Kisaran Barat District, Asahan Regency proved to be running. With a stable income, low BEP, and a positive relationship between the number of sales and income, this business shows good potential to develop. The support of the government and the surrounding community can also further strengthen this business position in the market, so it is expected to make a greater contribution to the local economy.

Recommendations

Based on the findings of this study, the following recommendations are made:

  1. Government Support: The government should provide support to the business of sea fish retailers in the Diponegoro Market, including providing training and capacity building for traders, and providing access to credit and other financial services.
  2. Marketing Strategies: Traders should develop and implement effective marketing strategies to increase sales and income, including expanding the distribution network and improving the quality of fish products.
  3. Sustainability: The business of sea fish retailers should be sustainable, and traders should adopt practices that ensure the long-term sustainability of the business, including adopting environmentally friendly practices and ensuring the fair treatment of employees.
  4. Community Engagement: The business of sea fish retailers should engage with the surrounding community, including providing access to fresh and quality fish products, and creating employment opportunities.

Limitations of the Study

This study has several limitations, including:

  1. Sample Size: The sample size of this study was limited to the sea fish retailers in the Diponegoro Market, and may not be representative of the larger population of sea fish retailers in the region.
  2. Data Collection: The data collected in this study was based on secondary data, and may not be accurate or reliable.
  3. Analysis: The analysis conducted in this study was limited to the calculation of BEP, R/C ratio, and Spearman rank correlation analysis, and may not have captured other important factors that affect the feasibility of the business.

Future Research Directions

Future research should focus on the following areas:

  1. Sustainability: Future research should examine the sustainability of the business of sea fish retailers, including the adoption of environmentally friendly practices and the fair treatment of employees.
  2. Marketing Strategies: Future research should examine the effectiveness of marketing strategies in increasing sales and income, including expanding the distribution network and improving the quality of fish products.
  3. Government Support: Future research should examine the impact of government support on the business of sea fish retailers, including the provision of training and capacity building for traders, and the provision of access to credit and other financial services.

Conclusion

In conclusion, this study has shown that the business of sea fish retailers in the Diponegoro Market, Tegal Sari Village, Kisaran Barat District, Asahan Regency is feasible to be developed. The average daily revenue that reached Rp 410,021 shows that this business gives profitable results. With a fairly stable sales volume, traders have the opportunity to increase their income by carrying out various marketing strategies or expanding the distribution network. The support of the government and the surrounding community can also further strengthen this business position in the market, so it is expected to make a greater contribution to the local economy.
Q&A: Feasibility Analysis of Sea Fish Retailers Business in Diponegoro Market

Introduction

In our previous article, we discussed the feasibility analysis of sea fish retailers business in Diponegoro Market, Tegal Sari Village, Kisaran Barat District, Asahan Regency. The study aimed to examine the feasibility of sea fish retailers in the market and determine the amount of income earned by traders. In this article, we will answer some of the frequently asked questions (FAQs) related to the study.

Q: What is the main objective of the study?

A: The main objective of the study is to examine the feasibility of sea fish retailers in the Diponegoro Market and determine the amount of income earned by traders.

Q: What is the research methodology used in the study?

A: The study used a purposive method to determine the research area, while the census method was applied to determine the samples involved. The data collected included information on the number of fish sold, the price of fish, and the income earned by traders.

Q: What are the key findings of the study?

A: The key findings of the study include:

  • The average income earned by sea fish retailers reached Rp 410,021 per trader per day.
  • The average sales volume of sea fish was 132 kg per day.
  • The business of sea fish retailers in the Diponegoro Market was declared feasible to be developed.
  • The average BEP production was 108 kg, and the BEP price was Rp 25,034.
  • The R/C ratio obtained was 1.12, indicating that every one rupiah invested will generate Rp 1.12, signifying profits.

Q: What are the implications of the study?

A: The study has several implications, including:

  • The business of sea fish retailers in the Diponegoro Market shows good potential to develop.
  • The support of the government and the surrounding community can further strengthen this business position in the market.
  • The business can contribute to the local economy by providing employment opportunities and access to fresh and quality fish products.

Q: What are the limitations of the study?

A: The study has several limitations, including:

  • The sample size of the study was limited to the sea fish retailers in the Diponegoro Market.
  • The data collected was based on secondary data, which may not be accurate or reliable.
  • The analysis conducted was limited to the calculation of BEP, R/C ratio, and Spearman rank correlation analysis.

Q: What are the future research directions?

A: Future research should focus on the following areas:

  • Sustainability: Future research should examine the sustainability of the business of sea fish retailers, including the adoption of environmentally friendly practices and the fair treatment of employees.
  • Marketing Strategies: Future research should examine the effectiveness of marketing strategies in increasing sales and income, including expanding the distribution network and improving the quality of fish products.
  • Government Support: Future research should examine the impact of government support on the business of sea fish retailers, including the provision of training and capacity building for traders, and the provision of access to credit and other financial services.

Conclusion

In conclusion, the study has shown that the business of sea fish retailers in the Diponegoro Market, Tegal Sari Village, Kisaran Barat District, Asahan Regency is feasible to be developed. The average daily revenue that reached Rp 410,021 shows that this business gives profitable results. With a fairly stable sales volume, traders have the opportunity to increase their income by carrying out various marketing strategies or expanding the distribution network. The support of the government and the surrounding community can also further strengthen this business position in the market, so it is expected to make a greater contribution to the local economy.