How Much Does It Cost To Start A Radio Station Business In Nigeria 2019/2020 pdf
- 1 How Much Does It Cost To Start A Radio Station Business In Nigeria 2019/2020 pdf
- 1.1 How to Begin A Radio Station Business In Nigeria
- 1.2 Other Amazing Business You Can venture Into Today
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Starting a radio station business in Nigeria is highly in demand with numerous radio stations spread across the country. Basically, to set up a radio station business in Nigeria requires dedicated investment, commitment to thrive among competitors.
Multiple factors are also essential such as marketing, licensing, broadcast format and coverage, station location, station staffs and personnel are important to set up a standard radio station.
Facts about radio stations in Nigeria;
- The op radio stations in Nigeria operate on the FM radio frequency.
- The Federal Radio Corporation of Nigeria (FRCN) is the regulatory body for radio stations in Nigeria.
- FRCN came into existence in 1933.
- Radio Nigeria has about 25 stations across the country.
- There are about 200 private radio stations in the country.
How to Begin A Radio Station Business In Nigeria
To successfully set up a radio station business in Nigeria involves some steps.
Determine The Radio Station Broadcasting Format
Radio stations require broadcasting and programming format which basically describes what the radio station is about, its content and potential target audience and programs. Examples of programming format include, all round news, Sports, Music, talk shows and lots more, and also describes the overall content broadcast to the audience.
Get a Radio Station Operator License
To successfully set up a radio station business in Nigeria, firstly, there is a need to register the radio station business name with the Corporate Affairs Commissions (CAC) for recognition of the radio station as a legal entity in Nigeria, it is also advisable to open a corporate account in the name of the radio station.
Afterwards an application for establishment and broadcast license with the Nigeria Broadcasting Commission (NBC). NBC is a commission which issues broadcast licenses and regulate the broadcast industry.
Applications are made to the President of Nigeria through the Minister of Information. Upon receipt of application, the applicant will be expected to pay about fifty thousand naira for NBC forms.
When the applicant has received these forms, he/she is expected to return the filled out forms with certificate of incorporation, engineering design and feasibility study, Memorandum, banker’s reference.
After this, license is issued. A license expires in 5 years, and is subject to renewal. The cost of broadcast license is about fifteen to twenty million naira. Also, cost of license renewal is about four to five million naira. Without an operation license, a station can be shut down by the Nigeria Broadcasting Commission (NBC).
Brand The Radio Station
Branding is the process of giving a business a proper description, memorable name and unique, memorable tagline. Generally, radio stations business operators in Nigeria all have unique station names which their audience are conversant with, most especially a station frequency.
Hence a station name and station frequency channel is important, social media presence is vital to boost the online presence of the radio station and interact with a wider audience.
Acquire Radio Broadcast Equipment
A transmitter is an important device in radio broadcast. It is a device that turns electrical signals into radio waves so that they can travel long distances over certain frequency.
Transmitters range from 15watts to 1kwatts, and its capacity determines how far its signals can travel. An antenna also is important in starting a radio station business in Nigeria. Antennas are used to amplify signal travel to radio devices and to the audience
Also a stable and uninterrupted power source is required, hence radio stations have to run on generators to power the studio and broadcasting equipment. Also required are audio equipment and processors which are used to improve the quality of sounds being broadcasted. Also, an interface panel remote control is required to input signals into the transmitter.
Furthermore, a mixer is required to control various aspects of radio broadcasts. Other pieces of equipment that are needed include, computer automation software, telephones, and system connectors.
An ideal radio station is to have
- A broadcasting studio which should be spacious and airy enough with two or three chairs, walls fitted with acoustics to prevent noise, and microphones
- A transmitter room with all the equipment that are used for transmission
- An editing/recording room with computers and recorders as well as microphones
- One or two offices, equipped enough to perform the necessary administrative duties
Human Resources (Staffs)
Radio Stations require the services of newscasters, journalist, cleaners, security men, Disc Jockeys (DJ), marketers, script manager, sound, electrical, mechanical engineers, production manager, who are vial to the general operations of a standard radio station in Nigeria. So, make sure you hire the right employees.
Carry Out A Test Out Your Broadcast Channel
Once you have found a couple of personnel and engineers to manage the daily operations of the radio station, it is time to take your broadcast for a test run. While running a test broadcast make sure that all input levels are within a reasonable range, and that you are available on the station frequency.
Also check out your frequency range by locations. You should be all set if the station frequency range is wide enough to cover distant locations.
Finally, radio station business in Nigeria are playing a central role in the marketing of businesses in the country and many countries all over the globe, businesses pay so much money to market their services and reach their target audiences.
Just one or two adverts that each run for 5-10 minutes on a radio station with a wide audience can run into millions of naira and so, radio business in Nigeria is a very lucrative.
Before everything, make sure you under study the operations of a local radio station around your location, for a more knowledge and information.
That’s the much we can take on the topic “How Much Does It Cost To Start A Radio Station Business In Nigeria 2019/2020 pdf”.
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