Analisis Kelayakan Pengembangan Usaha Ikan Hias Black Ghost (Afteronotus albifrons) pada Vizan Farm di Kecamatam Bojongsari Kota Depok

Abstract

Vizan Farm is one of the ornamental fish producing farms of Black Ghost at Bojongsari District, Depok City which has conducted its business development. This study aimed at analyzing the development feasibility of ornamental fish business of Black Ghost viewed from the non-financial aspects and financial aspects, and at finding out its sensitivity value. Based on the analysis on the non-financial aspects, it can be said that the business of ornamental fish of Black Ghost at Vizan Farm is feasible to run. The results of the financial analysis before and after the business development of ornamental fish Black Ghost at Vizan Farm showed that this business is feasible, where before the development, the business obtained an NPV value of Rp 159 430 261.00, an IRR of 20.73 percent, Net B/C at 2.20, and payback period for 4 years and 11 months. Meanwhile, after the development, the businesses obtained an NPV of Rp 301 325 943.00, an IRR of 26.65 percent, Net B/C of 2.27, and payback period of 4 years and 8 months. The result of the sensitivity analysis on the condition when the feed price increases by 50 percent showed that the business generated an NPV of Rp 113 509 319.00, an IRR of 20.75 percent, Net B/C of 1.84, and Payback Period of 6 years and 5 months. Furthermore, when the production decreases by 20 percent, the business is able to generate an NPV of 18 361 126.00, an IRR of 8.60 percent, Net B/C of 1.13, and Payback Period of 9 years 8 months.