COOL BUSINESS IDEAS -:- Eateries and Restaurant business
If you can operate a food and drinks center in Nigeria, then it can be a good money maker for you because Nigerians will always eat, even when the economy is bad.
In our list of 100 businesses one can do in Nigeria, I mentioned the Eateries and restaurants as one of them.
A restaurant is a kind of business that is into the provision of food and drinks to people for a profit. People do need a place where they can go to from time to time in order to eat food and have drinks.
A restaurant is a good business that is always profitable as long as it is located in a populated area. In cities like Lagos, there are many restaurants springing up almost every year and the numbers have not actually gone down.
Things you’ll need
– Running capital
– Staff: Cook, waiters, Sales rep and manager
– Seats and tables
– Food menu and price list
– Business registration
How much capital is needed? Well, it depends on location to location and the class of restaurant you want to start. You can start with N500k at least in Lagos when you consider rent, salaries, raw materials and registration fees needed to be made.
Classes of restaurants in Nigeria
There are different classes of restaurants in Nigeria and this depends on the price range of your products as well as the class of individuals you are targeting:
– Low level restaurant: This is basically a restaurant that is targeted at the low income people and a plate of food can sell from at least N200($1.25) in a city like Lagos. This requires the lowest amount of capital and may not be subject to much government regulation or needs to be registered as a company. Most restaurants in Lagos are in this level and it can be operated by 1 or 2 persons.
– Middle Level restaurant: This is one not targeted at everybody but not too expensive. A plate of food can start selling from around N500($2.5) and most restaurants that fall into this category mostly register their business name and do offer better quality food and drinks that are good enough for the average Nigerian. It requires more staff than the low level restaurant and also more capital. A starting capital for this kind of restaurant can start from N1m to N2m.
– High class restaurant: These are restaurants that are mostly targeted at the rich and high income individuals. It’s not for most people but for the few that can afford it. The pricing for a plat of food can start selling from at least N800($5) and the environment is normally fully staffed with a glass door, marble ground, air conditioning and a sales personally. A total bill which includes drinks and food can cost as much as N1000 to the buyer. Here foods and drinks are normally sold at an higher price. Starting a restaurant like this can require a starting capital of about N5m.
How to start
– Decide on the class of restaurant you want to start
– Decide on the type of food and drinks you want to be selling.
– Get the required capital
– Rent a place
– Register your business
– Get the required staff
– Advertise your new restaurant