BUSINESS FEASIBILITY OF BLACK SOLDIER FLY (BSF) MAGGOT CULTIVATION: FINANCIAL INDICATORS AND SWOT-BASED STRATEGY

Abstrak

Black Soldier Fly (BSF) maggot cultivation is increasingly recognized as a circular-economy solution that converts organic waste into protein-rich biomass for animal feed while reducing the burden of organic waste management. This manuscript rewrites an Indonesian-language business plan into a journal-ready feasibility paper using financial indicators and SWOT-based strategy. Feasibility is evaluated using Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period (PP), and Break-Even Point (BEP), while strategic diagnosis uses Internal Factor Evaluation (IFE), External Factor Evaluation (EFE), and SWOT positioning with an explicit strategy matrix. Results from the provided dataset show a positive NPV of IDR 96,766,363,636 at a 10% discount rate and an IRR of 1635%, with a short payback period of 0.061 years (approximately 88 days). The IFE score (2.77) and EFE score (3.30) position the business in Quadrant I at coordinates (1.21, 0.67), indicating an aggressive growth orientation. The main managerial implications are (i) prioritizing capacity and facility upgrades to avoid growth bottlenecks; (ii) strengthening promotion and market education to address awareness gaps; and (iii) adopting practical technology for traceability and quality assurance to sustain differentiation amid competition. Overall, the feasibility evidence suggests strong investment attractiveness and strategic potential, conditioned on disciplined scaling and partnership execution.