Cost of Starting A Cinema Business In Nigeria 2019/2020 | Cinema Business Plan Pdf
- 1 Cost of Starting A Cinema Business In Nigeria 2019/2020 | Cinema Business Plan Pdf
- 1.1 What is A Cinema?
- 1.2 How to begin A Cinema In Nigeria and Make Money
- 1.3 Cost Of beginning A Cinema Business In Nigeria
- 1.4 Success Tips In Beginning A Cinemea Business In Nigeria
- 1.5 Other Amazing Business You Can venture Into Today
If you have been searching for Cost of Starting A Cinema Business In Nigeria 2019/2020 | Cinema Business Plan Pdf, cost of starting a cinema in nigeria, how much will it cost to open a cinema in nigeria,cinema licensing in nigeria, cinema business plan pdf, cinema start up costs, cinema business plan sample pdf, how to set up a cinema business in nigeria, small movie theater business, then you are in the right place.
Starting a cinema business in Nigeria is a very good business idea that will spill a lot of money to your bank account. During the buzz on Black Panther, a lot of Nigerians were ready to part with their money so that they could watch the first black superhero movie. But unfortunately, some states in Nigeria can’t even boast of a park talk of a cinema.
Starting a lucrative cinema business in Nigeria is a wise choice. This is a business you’re sure to succeed in provided you equip yourself with all the information that will entails success. Anyway, that’s why I’m bringing this article to you.
What is A Cinema?
A cinema or movie theater is a place where movies are shown on large screen, giving viewers an intrinsic experience that cannot be gotten from watching at home. The video quality are superb, including the quality of the sound. In fact, there are new developments going on as I type this, to create a screen that gives viewers the 3D view effect. That will be a milestone in the world of movies.
Although some states in Nigeria are yet to see developments in the establishments of cinemas, but major states like Lagos, Abuja, Port Harcourt etc. have countless cinemas. In fact, it’s a competition.
In this article, I’m going to guide you on how to start a lucrative cinema business in Nigeria and make a lot of money in return. If this business is done well, you’ll certainly emerge as one of the richest Nigerians. You’ll join the billionaire gang before you even know it. The only downside in this business is that it’s capital-intensive.
BEFORE I KICK OFF, have in mind that you can start your cinema business, either as a franchise or as an independent venture. For the sake of this article, I’m going to guide you on how to start from scratch, like an independent business. Let’s go!
How to begin A Cinema In Nigeria and Make Money
1. Register Your Business Name
Before any other actions is taken, first secure your business name by registering with the corporate affairs commission (CAC). Registering your business name won’t cost more than N30,000. In fact, you can register your business easily online. Visit the CAC website to begin.
While registering your business, make sure that the domain name is also free. If it’s available, please register it immediately. If it’s not available, please get another business name. This is your first step in creating a brand.
2. Get A Good Location
Location is everything in this business. To start a cinema in Nigeria and be successful, please make sure your location is approximate to your target audience. A bad location is what will kick you out of business. There are lots of cities in Nigeria that can’t boast of one cinema, discover them and sought for a land immediately.
The size of your land depends on how big or small you want to start. Please, get across to your engineer, let him analyze the money at hand and then give you the best possible advice. Take note, your location in this business will either make or destroy you.
Cinema is best and profitable when the hall is very large. Also, make sure you have a good and large parking lot.
3. Equipment Needed For A Camera
To start a lucrative cinema in Nigeria, you have to procure the necessary equipment that will aid for smooth business operation. You’ll need the biggest screen in the world if possible or at least, have them in three and placed at strategic places in the cinema hall. Some cinema owners started with projectors, which is cheaper and easy to get.
You’ll also need air-conditions, big generators and comfortable furniture. The more classic and comfortable your cinema is, the more people return to book for movies.
4. Connect With Movie Disteibutors and Producers
You’ll need the contacts of major distributors and movie producers in the entertainment industry. Remember, you cannot show any movie in your cinema unless permission is granted by the producers. If you don’t, you might risk getting sued.
Also, another reason you need such contact is that; it entails getting the movies on time. The earlier you acquire a movie, the fuller the hall will be leading to more money. In cinema business, smartness is required.
5. You Need Staff
Starting a cinema in Nigeria is easier when you work with a team. You definitely cannot do this business alone unless you’re Flash, which is very impossible. So, you need hands other than yours. You need a personnel to be in charge of the projector, someone to be in charge of the movie tickets, lights, sounds, drinks and snacks etc.
Before you hire them, please make sure they are professionals and highly trained with lots of experience. You need the best hands if you must succeed. The wrong set of people will drag your business to the mud before you even start.
Cost Of beginning A Cinema Business In Nigeria
This depends on how large you want to begin. After conducting a feasibility study, you will be able to take a peep at the cost estimate.
That is, the total cost needed to start-up a cinema business in Nigeria. I’m not going to give an estimate because it will be flawed due to difference in location. But if I’m forced, the minimum cost will be over N5,000,000 while maximum cost is N50,000,000. Please, conduct a feasibility study.
Success Tips In Beginning A Cinemea Business In Nigeria
1. Snack Stand
Starting a cinema business means starting a snack stand alongside. So, make sure you include a snack stand in your budget or business plan. Sometimes, people come to cinema not to watch movies, but to hang out with someone special, like a lover. During such a hang out, they can’t do without a snack like popcorn.
2. Take Advertisement/Promotion Serious
To succeed in this business, don’t joke with adverts and promotion. If possible, get a billboard and situate in a place of high traffic. Buy some advert time on TV channels and radio FM’s in your business location. Also, run social media adverts and make sure you target users around your business location.
3. Having A Website
A good and professional website is needed for your business. It helps customers and prospects know the movies that will be shown and the time. This helps them to buy tickets ahead of time. Get across a web developer and designer to help you set up an attractive platform.
4. Business Plan
Before you kick off this business, please make sure you begin with a business plan. Not doing this is like testing the depth of the ocean with both feet. It’s like walking through a dangerous street blindfolded. A cinema business plan will serve as a blueprint to success. Please, don’t overlook it.
5. Build Your Customer Base
Running a cinema in Nigeria isn’t wise if you don’t have a medium by which you can reach your customers. It could be getting their email address or mobile number. Their contacts can easily be gotten during the process of buying a ticket. Building a customer base should be your top priority in this business.
Starting a cinema business in Nigeria is a profitable business. To turn this business idea into an opportunity, please draw a business plan and kick off right away.
That’s the much we can take on the topic “Cost of Starting A Cinema Business In Nigeria 2019/2020 | Cinema Business Plan Pdf”.
Thanks For Reading