A matrix population model of Gelidium sesquipedale, a commercial agarophyte from the Northeast Atlantic, was developed based on demographic data obtained during two years in a commercial stand of Cape Espichel, Portugal. G. sesquipedale individuals were classified into categories such as life cycle phase, spores, juveniles and adult frond size, because the species vital rates, fecundity, fertility, survival, growth and breakage depend on them. We also exemplify the use of a user-friendly modelling software, Stella, to develop a structured-population model. This is the first time this software has been used to model the demography of seaweed populations. The Stella model developed here behaved very similarly to the matrix model, because of its particular construction, which causes the forcing functions to be discrete rather than continuous. The relative importance of spore recruitment and vegetative growth of new fronds in both population growth and population structure was investigated. Elasticity analysis suggests that vegetative recruitment is the most important demographic parameter controlling population growth together with survival and transitions between juveniles (1-6 cm fronds) and class 1 fronds (6-9 cm fronds). On the other hand, sexual reproduction may, by itself, efficiently control the relative proportion of gametophytes and tetrasporophytes in the population, even though its contribution to recruitment is extremely small. A 40% difference in the growth rates of gametophyte and tetrasporophyte submatrices resulted from natural differences in spore recruitment rates.