If you are looking for a lucrative business in Nigeria, read this simple guide to find out how to start a restaurant business in Lagos.
Starting any business can be quite hectic. There are business plans that have to be set up.
Also, capital is needed, not to mention the target market, marketing strategy, and space needed to be rented.
Sounds like a lot, I know, but here is a simplified approach to starting the business.
We will explore all those in this guide.
Table of Contents
How Much Does It Cost To Start A Restaurant Business In Lagos, Nigeria
For a small-scale restaurant, you will need about 100,000 Naira to 200,000 Naira.
To be able to grow with this amount, make sure you lay out a business plan and follow it. Be neat and cook nicely for even more profits.
Tips To Start A Restaurant Business In Lagos
Before you start a restaurants business in Lagos, below are some vital factors to consider:
1. Have a well-laid-out business plan and follow it to them later.
2. Decide on whether your bakery will be a retail or wholesale business.
3. Register your restaurant business with CAC. This will need around 20,000 Naira.
4. Advertise your business online to help it grow.
5. Acquire the necessary permits and insurance to run your business smoothly.
6. Have offers to attract more customers.
7. Set up your business near a recreational center or mall.
8. Study the other restaurants and competitors to outshine them.
9. Know who your target customers are.
10. Create a menu list of the foods you will be offered.
11. Purchase all the necessary restaurant equipment.
12. Employ good chefs and waiters.
13. Health and safety standard of practices.
Types Of Restaurants In Nigeria
There are a lot of different restaurants that one can venture into depending on the level of expertise. Here is a look at the restaurants;
- Fast food restaurants – this kind of restaurant requires speed, as the name suggests. It ranges from small-scale restaurant businesses to large-scale enterprises.
- Quick service restaurants – they sell cheap food and are mainly found in the streets.
- Ethnic restaurants – As the name suggests, they serve food from a specific culture.
- Casual dining restaurants – customers can eat at their comfort.
- Fine dining restaurants – these are similar to high-class restaurants.
- Barbeque restaurant – the restaurant includes meat, chicken, and fish barbeque.
- Be neat and ensure you cook quality food.
The restaurant business is very profitable, and on average, one can make 25,000 Naira per day. The restaurant business is growing fast and flourishing in Nigeria.
With all the details we have provided above, I am sure you have a fair knowledge of how to start a restaurant business in Lagos.