Walleye culture for foodfish is a rapidly emerging market in the North Central Region of the US. The first two private walleye farms began operations in 2021 with several other facilities currently being planned. Beginning operations with a relatively unproven species is a risky endeavour for new fish farmers, and developing a business model can be immensely difficult given the high degree of inherent uncertainty. The University of Wisconsin-Stevens Point Northern Aquaculture Demonstration Facility has approximately 15 years of experience raising walleye in various culture systems through all life stages and has been at the forefront of the development of the private walleye industry. The aim of this study is to apply the knowledge gained during this time about walleye feed rates, growth performance, culture system requirements, and operational costs to develop a economic model and budgeting tool for current and prospective walleye fish farmers. To focus our model, we assumed that the fish farmer will receive walleye as 1g feed trained fingerlings and grow them out to a ~1lb market size. The model accounts for all operating costs including feed, labor, oxygen, electricity, natural gas, permitting, maintenance, insurance, marketing, processing, and other overheads, and provides default values for each cost that can be manually adjusted by fish farmers to reflect their individual operations. Using default values in our simulation, a fish farm would have to start with 35,576 walleye fingerlings to breakeven on operating costs at a market price of $20/lb of filleted and processed walleye. Fish feed constituted the largest cost (23.7%) followed closely by fingerling procurement (22.0%) and labor (19.8%). The model allows for parameters to be adjusted so fish farmers can test various scenarios and evaluate the viability of their operations. We hope this model and tool can serve as a valuable resource for current and prospective walleye fish farmers alike.