It’s no longer news that Nigeria is the most populated black country in the world, so most businesses here tend to become successful with just the right knowledge and resources. A restaurant is no exception since food is something people need daily, and when your food is really good, people will choose it over many other options.
So if you’re thinking about how to start a restaurant business in Nigeria, this article will discuss everything you need step by step; all you have to do is take note of every piece of information you find here and implement them accurately.
Types of Restaurant Businesses in Nigeria
It is essential to learn about the types of restaurant businesses before deciding which one to open. So here are some of the most common types of restaurant businesses in Nigeria.
- Casual dining.
- Fine dining.
- Fast food.
- Family style.
- Fast casual.
- Contemporary casual.
- Pop-up restaurant.
- Food trucks and concession stands.
However, the most common type of restaurant preferred in Nigeria is fast food, where healthy food is prepared and served to customers on demand in a conducive environment.
You can also provide door-to-door delivery of food when the need arises, but no matter the type of restaurant you choose, the main point is that you need to prepare and serve healthy and delicious meals.
Steps to Start a Restaurant Business in Nigeria
Now that you have decided on what type of restaurant you want to open, you can go ahead with the various steps to open a restaurant.
Do Market Research
If you want to start a restaurant business in Nigeria, the first thing to do is market research; even if you have lived in Nigeria all your life, you still won’t know what every industry is like, so you need to know what the food service sector is all about and how a restaurant is operated to ensure it is successful.
This research will help you decide whether your business idea will fly or needs adjustments. It will also help you know how to promote and package your offers to get your desired sales results.
Develop a Good Business Plan
Now that you understand the business dynamics, you need to draw up a business plan containing every detail about your business and how you intend to run it. You can write a business plan yourself or get help from a professional.
Get a Good Location and Acquire a Spacious Outlet
Since you now have everything planned out, you should look for a good location that is easily accessible, and depending on your type of restaurant, you might want a bustling environment or a calm area.
In addition, consider how spacious the place is since people will always spend time there, and it should have enough parking space.
Register Your Business
If you already have a business name, it will be easier to register your business, but you need to ensure the name is unique because two businesses cannot own the same name except in cases of a franchise.
The Corporate Affairs Commission (CAC) is responsible for business registration, and the Federal Inland Revenue Service (FIRS) regulates tax payments in Nigeria. Hence, after registering your restaurant with the CAC, you must also register it for taxation.
Equip Your Building and Supplies
Of course, you know you won’t get customers in an empty space, so this is the part where you need to equip your restaurant according to your budget. Some of the things required for a restaurant include:
- Refrigerators and freezers.
- Mixers and slicers.
- Counters and cutting surfaces.
- Safety equipment.
- Ovens and ranges.
- Storage shelf and racks.
- Serving ware.
- POS machines.
- Chairs and tables.
- Table cloth and kitchen napkins.
- Menu boards.
- Ingredients and foodstuff.
Create a Unique Brand
The importance of branding in business cannot be overemphasized; it gives a unique identification to your business and helps you create a customized image and reputation in the industry. With branding, you can choose how you want people to see your business and what you offer.
The restaurant business is mainly for individuals who are passionate about cooking and can create something unique out of a common idea; nevertheless, you shouldn’t do it alone. Also, if you are not such a great cook, you can always get professionals to do the work.
Employ chefs, servers, cleaners, accountants, cashiers, etc., and the only job you will have left is supervising the restaurant’s activities.
Invest in Marketing
Now that you have everything set up, you should know you won’t get your desired customers and profits just by waiting for people to locate you. Instead, you need to invest in marketing to ensure your business gets the attention of your target customers and you help them understand what you offer and how it differs from your competitors.
With more than 200 million people in Nigeria, the food restaurant business is undoubtedly a gold mine and will always be in demand across the country. So if you follow the steps discussed in this guide, you will be able to reap your fair share of this lucrative industry in no time.
However, remember that you don’t have to start as a big popular restaurant; you can start as a small enterprise and work your way up to become what you have always envisioned for yourself.
Also, if you wish to progress faster in the restaurant business, you can buy a franchise from a well-known and reputable restaurant in the country so you can start as a popular brand instead of starting from scratch.