Solid and liquid waste has not been widely utilised by the fishing industry in Indonesia. Waste treatment becomes the company's cost centre by building a Waste Water Treatment Plant so that the water meets the proper water quality standards so as not to pollute the waters around the factory. In the seafood production process uses a lot of water for various purposes. The more water used, the more potential for pollution. Reducing waste contamination will be one of the important steps for business and environmental sustainability so that innovation is needed to implement waste management. This research aims to analyse the potential of waste into circular business potential with the Business Model Canvas concept approach. The results of this research are expected to be useful for fishing industry companies, namely technical production from liquid waste which was originally a cost centre to fish oil as a profit centre. The test results of crude fish oil processed from fish processing waste showed good results and were within the Food Grade standard based on SNI, Codex and IFOSS criteria. These test results confirm that there is potential for processing fishery industry waste into consumer fish oil. Furthermore, this potential can be improved into a product innovation towards commercialisation and potential positive financial benefits. Furthermore, the innovation of increasing the added value of Surimi industrial waste and fish processing also has a positive impact on the environment and business sustainability through reducing the final waste contamination towards the concept of zero waste.