How to Start Bar Business in Nigeria
How to Start Bar Business in Nigeria | Starting and running a bar business can be an excitement for any Nigerian who want to venture into bar business, and should be eager to give all it takes to succeed in bar business in Nigeria. In bar business, there is some sort of entertainment, leisure, activities, including games. Bar business means a lot of things, that is you have to be taking your time in preparing what your customers will love to buy, making transaction with you customers, both of your customers you are serving and those, who supply products to your bar business. You should also ensure that you settle every one of your customers who felt dissatisfied with your business, because without your customers, you cannot be there. More so, there are different types of bar businesses you can start in Nigeria, but before we get to that, let us look at those things that are important and necessary in starting bar business in Nigeria.
Things you need to consider before starting you bar business:
Secure your bar business license:
You need to obtain license that will allow you to operate bar business in Nigeria. Of course, there are different rules that regulates the process of obtaining your bar business license, and it differs from state to state and cities. In your state or city, you are advised to visit your state Alcohol Beverage Control Office, make enquiry at the office, on what licenses you should obtained that will accredited you to sell alcohol beverages, should you want to serve alcohol beverage like beer and hard liquor, and wine and spirit. If you intend to sell fast food, like pepper soup, sandwiches, you should also endeavor to obtain license for this. And more so, should you want to sell food in your bar other than these fast foods, then you have to get approval from your state, and one of the ways of obtaining this approval is to enroll in approved course on food safety. And please note, there will be a time frame that you will have to wait before getting these licenses to start your bar business in Nigeria.
Your start-up capital:
Taking into consideration what will cost you to start your bar business is a good idea and this is very important process, if you want to invest properly in bar business in Nigeria and recouped your investment. And gain, note that you may not likely run your bar business alone, therefore, you may wish to employ the services of a manager and/or an accountant to manage your business to profitability, and do not forget that good management is what determined business success, and you should not play with this fact. Having settled with this, find out how much money will take you to start your bar business, and the cost of starting your business should include materials such as, freezers, display cases and shelves, drinking glasses, cutleries, dishwashers among other bar business materials. You should add kitchen equipment cost, in case you want to sell pepper soup, sandwiches, snacks etc. the rent for the shop, the cost of electricity, air conditioning, phone, heating, etc, should be added
Accordingly, the cost of maintenance and safety devices and security system should all be included, and total everything and determine how much will cost you to start bar business in Nigeria. You also have to consider your staff salaries, and accounting support, and marketing, as well as insurance cover and legal services maintenance. Once you arrived at the total amount, calculate ten percent of the total amount and include it as miscellaneous material cost that you cannot figure out at the moment.
Your bar business flow must be tracked:
The purpose of starting your bar business was to make profit; after all, this is the aim of every business. Therefore to achieve this objective, you have to put your eyes down and know how your products, such as foods and drinks are sold, and where the money is going, this is very important. You are expected at this level to put up a system from the very beginning of your bar business. It is a known fact that in bar business, money gets first into the hands of the waiters and bar attendants before it finally gets to the casher. In view of this, you are duty bound to create a system that will allow for effective movement of money in your business in such a way that will protest the business from theft. Above all introduce ‘no credit policy’ to discourage the vulnerability of giving your products away free of charge.
Locate the right location:
It will be time, you look for the right location for your bar business. Features to be looked for, in the location of your bar business should include; safety and good parking space. More so, the kind of bar envisaged to start will largely influence the selection of your location. You are expected to also consider the exterior and the interior of your bar, where such things like the size of the bar, and the colour, design, as well as materials used in building the place. You should note that the location you choose for your bar business will have certain impact in the community at which your bar is located. It can give life to the area, and pull towards the area traffic of people and cars.
You should be careful in choosing your location, because it is likely to attract some kind of customers who will patronize your business and cause it to boom hence, making huge profit in return. Your bar location can determine the name of your business in such a way that will make your bar popular with inclusive concept. For example, you locate your bar business in a passageway, you can then named it; ‘The Bar at the Passageway’. Another important thing you need to note in choosing your bar location is that, if you choose a place that makes the accessibility of your bar hard, it simply means that you will have to do enough advertisement and marketing to attract customers. Hence, with the above information, you can successfully start your bar business in Nigeria.