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Adi Surya Panji Gumilang
Universitas Pakuan, Indonesia
Computer Science & IT Economics, Econometrics & Finance Languange, Linguistic, Communication & Media

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Financial feasibility evaluation of BSF maggot cultivation at Bumi Farm, Cipaku Village, Bogor City Dwi Meyliani Riswanti; Adi Surya Panji Gumilang
Jurnal Mantik Vol. 9 No. 4 (2026): February: Manajemen, Teknologi Informatika dan Komunikasi (Mantik)
Publisher : Institute of Computer Science (IOCS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/mantik.v9i4.6997

Abstract

The problem of food waste management, which continues to increase and dominate the composition of waste, necessitates circular economy-based solutions that not only solve the problem of waste accumulation but also provide economic benefits. One such solution is the cultivation of Black Soldier Fly (BSF) maggots, as maggots can reduce food waste by 90%. One of the businesses that cultivates BSF maggots is Bumi Farm, but since its establishment in 2020, no financial feasibility evaluation has been conducted. Therefore, this study aims to evaluate the financial feasibility of BSF maggot cultivation at Bumi Farm using NPV, IRR, PP, and Net B/C. The results of this study indicate that the BSF maggot cultivation business at Bumi Farm shows the following values NPV with a Bi Rate of 5.75% is IDR 152,700,000, which is considered feasible because the NPV value is > 0; IRR value of 36.71% is considered feasible because the IRR value is > Bi Rate; The Payback Period of 2 years and 10 months is feasible because the PP value is < Economic Life, and the Net B/C of 2.32 is feasible because the Net B/C value is > 1. The results of the analysis show that all financial feasibility indicators are met, so that the BSF Maggot Cultivation business at Bumi Farm is feasible to run because it meets all financial feasibility indicators
Formulation of stability strategies for business BSF maggot cultivation under hold and maintain conditions at Bumi Farm Bayu Dwi Prasetyo; Delta Hadi Purnama; Dewi Taurusyanti; Adi Surya Panji Gumilang
Jurnal Mantik Vol. 10 No. 1 (2026): May : Manajemen, Teknologi Informatika dan Komunikasi (Mantik)
Publisher : Institute of Computer Science (IOCS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/mantik.v10i1.7103

Abstract

Food loss and food waste are critical issues at both the national and regional levels. Various efforts have been made to address the accumulation of food waste, one of which is through Black Soldier Fly maggot cultivation. However, previous studies have tended to focus on general strategies and have not specifically integrated a comprehensive analysis of internal and external environments to align business strategies with the company’s position. Therefore, this research aims to formulate a comprehensive alternative business strategy for BSF maggot farming at Bumi Farm in accordance with the business’s position. This Research is a descriptive study. The data used consists of qualitative and quantitative data obtained through observation, interviews, questionnaire, and literature review. The data obtained were analyze using IFE, EFE, IE Matrix, and SWOT analysis. The results of this research indicate Bumi Farm achieved an IFE score of 2.38 and an EFE score of 2.69, both falling into the moderate category. These values place Bumi Farm in Cell V of the IE Matrix with a hold and maintain position. This position indicates that the business’s internal and external conditions are relatively stable but not yet strong enough for expansion. The recommended strategic alternative based on the SWOT matrix is a strategy of stabilizing and strengthening the business internally. The results of this research indicate that the sustainability of the maggot farming business depends not only on expansion but also on strengthening internal capacity and operational stability in the face of business environment dynamics
Co-Authors Bayu Dwi Prasetyo Delta Hadi Purnama Dewi Taurusyanti Dwi Meyliani Riswanti