1. Starting a coral farm can provide an additional source of income for businesses that are already in the marine services industry, such as aquariums or fish stores.
2. Establishing a reef-safe farming method gives you the opportunity to help preserve endangered species and the ocean environment.
3. Growing coral in a farm setting is one of the most sustainable and cost-effective ways to harvest wild coral for commercial use.
4. Setting up a coral farm can provide access to hard-to-find species for aquarium hobbyists, researchers, and other commercial buyers.
1. Setting up a coral farm requires significant capital investment in equipment, supplies, and labor.
2. The cost of maintaining a coral farm can be quite high due to the need for specialized labor and materials such as water quality monitoring systems and electricity.
3. Despite advances in technology, growing live coral is still considered to be a difficult endeavor with many variables that must be managed in order to see success.
4. Many coral species are considered threatened or endangered, so collection and propagation of these species may require permits from local governments.
5. The unpredictable nature of ocean conditions can make it difficult to predict how the coral will fare under cultivation. This is especially true for species which have not been widely studied by science.
6. The harvesting of coral for commercial use can have significant impacts on the ocean ecosystem and should be done with caution.