This article presents technical and bioeconomic information on culture-based grow-out production of groupers in Vietnam. Grouper farming has good future potential as a viable alternative livelihood for fishers. It is found to be very profitable for cage farmers in northern Vietnam and marginally profitable for cage and pond farmers in central Vietnam. Productivity and total revenue are highest in the north, reflecting relatively high stocking rates, aquaculture area, and harvest prices. Cost per unit production is highest for centrally located cage farmers. The dominant cost sources for these farms are feed (40-60% of total costs) and, to a lesser extent, seed (20%) and labor (12-19%). The feed conversion ratios for these systems, where grouper are fed exclusively low-value finfish, is calculated to be 9 in the north and 12 in the center. It seems that improving the livelihood of grouper farmers in Vietnam is dependent on reducing their dependence on wild stocks for seed and feed, and increasing area and growout time for central farmers. If pellets are to be widely adopted by grouper farmers, perceptions regarding the poor adaptability, relatively slow growth rates compared with low-value finfish, and poor availability of pellets need to be overcome. © 2013 Copyright Taylor and Francis Group, LLC.