Pros:
1. High Demand: Lobster is one of the most popular seafood options in the world, making it an ideal product to sell.
2. Flexible Schedule: As long as you are able to meet your customers’ demands and follow the necessary regulations, you can work on your own time.
3. Low Startup Costs: Compared to other types of businesses, lobster fishing requires very little in terms of overhead costs and startup expenses.
4. Lucrative Profits: Lobster fishing is a profitable business because it has high demand and good profits margins.
Cons:
1. Weather Dependent: Fishing for lobster can be hazardous and inconvenient when the weather is not ideal.
2. Strict Regulations: Lobster fishing is heavily regulated, which means that you must abide by certain rules and regulations before you can start your business.
3. High Cost of Equipment: Lobster fishing requires specialized equipment, which can be expensive to purchase and maintain.
4. Unpredictable Market: The demand for lobster fluctuates, making it difficult to predict what the market will look like in the future.