Economy
Details of How to Start A Profitable Beer Parlour Business in Nigeria
By Adedapo Adesanya
One of the most profitable businesses that a would-be entrepreneur can establish in Nigeria is a bar business because many Nigerians like to be happy amid the sufferings and drinks, especially those with alcohol, provide that happiness option.
Like many other businesses, running a bar, usually called beer palour, has things one should put into consideration before venturing into and they would be highlighted in this piece.
Interest
The first consideration is interest. This comes in many forms. The interest of the entrepreneur will determine whatever mission and vision he or she has for the business. Without interest in the beer parlour business, a lot of things can go wrong.
Size
Based on a number of factors, a beer parlour business varies is size; it may be small scale, medium scale, or large scale. A small scale can contain a maximum of 50 customers, a medium will take between 50 to 100 customers, and anything more than that means that is a large scale establishment. Once the would-be entrepreneur identifies what sort of beer parlour, he or she wants to run, issues like capital, location, and number of expected customers can follow.
This article will use a small scale beer parlour as a case study.
Capital
Running a business needs money and to start a small scale beer parlour can between N600,000 and N3 million, depending on the location the owner wants to situate the business. This will cover rent up to a year and constructing the structure to fit the taste of the entrepreneur, with the different gadgets and instruments needed to run it smoothly like sound system, television set and others.
Location
A good location is something to consider. For a small scale bar, which can house about 50 customers, it is very necessary to situate it where is accessible, where cars can park and probably in a serene environment because of entertainment.
Designs
A calm environment is the best place to situate a beer parlour. With this actualized, the beer parlour must be designed for comfort – this means that it must be conducive. If it is an open space, there will be need for fans, while in a enclosed space, it is necessary that the entrepreneur invests in more fans and air conditioning systems.
Structure
A beer parlour is a place of relaxation; therefore, there must be a good structure such as rest rooms, kitchens, lounges, roofing, flooring, and a working water system in place because people are likely to use the restroom often due to the constant consumption of beer.
The kitchens will serve as where other side dishes that augment the beer will be prepared. This is an additional means of revenue and also used to keep more people coming. Here, you have eatables ranging from meat, pepper soup, and other local delicacies.
Also, a well-lit store may be needed for drinks that have not been refrigerated yet based on demand. This will help keep the business in stock.
Equipment and Furniture
In a beer parlour, the chairs must outnumber the customers. For a small scale with 50 customers, the entrepreneur has to make room for at least 55 chairs because of guests and tag-alongs. This may be complemented with 30 tables. With chairs costing N15,000 per dozen, the total amount to procure chairs for a small sized beer parlour should be N70,000 and with a market value of N4,000 per table, this amount to N120,000, giving a total of N190,000 for the chairs and tables.
Refrigerators are also needed (at least 2) in anticipation of high demand for beers, which most consumers prefer. Refrigerators are needed to cool the drinks. An average fridge costs N120,000 and two will amount to at least N240,000. Alternatively, an entrepreneur can go for chillers, in the same price range, which prevent bottles from breaking and losses for the business.
Another item needed is the television set and sound system; they serve entertainment purposes. A TV set can be purchased for as low as N45,000 (32 inch) and a sound system of like N15,000 are good to keep the customers entertained while ‘chilling’ at your bar.
You can also keep N100,000 for openers, glass cups, straws, and other miscellaneous items, including subscription for payTV services to show European Club football matches, which attract huge following.
Estimated Total:N580,000.
Registering the business
A registered business gives it an authentic outlook, hence, the business should be registered with the Corporate Affairs Commission (CAC) under a name. In addition, all other entities that deal with consumption must be alerted in order to carry out routine checkup for health and service compliance.
Get A Wholesaler
The beer parlour business is a retail business and to get drinks at cheaper prices, it is advisable to get a wholesaler who will provide the drinks in large quantity.
A beer parlour business is a very demanding task, therefore, the principal must constantly think of ways to keep his or her customers satisfied, because the customers will determine the outcome to a large extent.
Setting up a profitable beer parlour business can be tasking but it can be done right by following the steps outlined above. You also have to make your customers feel at home to keep them coming back to drink at your place. You should constantly ask them things you need to improve on.
By Modupe Gbadeyanka
The federal government has been asked by the Nigerian Bar Association (NBA) to suspend the implementation of the controversial tax laws.
In a reaction to the tax reform acts, the president of the group, Mr Afam Osigwe (SAN), the suspension of the laws would allow for a proper investigation into allegations of alterations in the gazetted and harmonised copies.
A member of the House of Representatives, Mr Abdussamad Dasuki, alleged that some parts of the laws passed by the parliament were different from the gazetted copy.
To address the issues raised, the NBA said it is “imperative that a comprehensive, open, and transparent investigation be conducted to clarify the circumstances surrounding the enactment of the laws and to restore public confidence in the legislative process.”
“Until these issues are fully examined and resolved, all plans for the implementation of the Tax Reform Acts should be immediately suspended,” the association declared.
It noted that the controversies “raise grave concerns about the integrity, transparency, and credibility of Nigeria’s legislative process.”
“These developments strike at the very heart of constitutional governance and call into question the procedural sanctity that must attend lawmaking in a democratic society,” it noted.
“Legal and policy uncertainty of this magnitude has far-reaching consequences. It unsettles the business environment, erodes investor confidence, and creates unpredictability for individuals, businesses, and institutions required to comply with the law. Such uncertainty is inimical to economic stability and should have no place in a system governed by the rule of law.
“Nigeria’s constitutional democracy demands that laws, especially those with profound economic and social implications, emerge from processes that are transparent, accountable, and beyond reproach. Anything short of this undermines public trust and weakens the foundation upon which lawful governance rests.
“We therefore call on all relevant authorities to act swiftly and responsibly in addressing this controversy, in the overriding interest of constitutional order, economic stability, and the preservation of the rule of law,” the organisation stated.
By Adedapo Adesanya
Demand for hot stocks, including MRS Oil Plc, buoyed the NASD Over-the-Counter (OTC) Securities Exchange by 0.52 per cent on Tuesday, December 23.
The energy company was one of the three price gainers for the session as it chalked up N19.69 to sell at N216.59 per share versus the previous day’s value of N196.90 per share.
Further, FrieslandCampina Wamco Nigeria Plc gained N2.95 to close at N56.75 per unit versus N53.80 per unit and Golden Capital Plc appreciated by 84 Kobo to N9.29 per share from Monday’s N8.45 per share.
Consequently, the market capitalisation went up by N10.95 billion to N2.125 trillion from N2.125 trillion and the NASD Unlisted Security Index (NSI) rose by 18.31 points to 3,570.37 points from 3,552.06 points.
Yesterday, the NASD bourse recorded a price loser, the Central Securities Clearing System Plc (CSCS), which gave up 17 Kobo to close at N33.70 per unit against the previous trading value of N33.87 per unit.
The volume of securities traded at the session went down by 97.6 per cent to 297,902 units from the previous day’s 12.6 million units, the value of securities decreased by 98.5 per cent to N10.5 million from N713.6 million, and the number of deals remained flat at 32 deals.
By value, Infrastructure Credit Guarantee Company (InfraCredit) Plc ended as the most actively traded stock on a year-to-date basis with 5.8 billion units exchanged for N16.4 billion. This was followed by Okitipupa Plc, which traded 178.9 million units valued at N9.5 billion, and MRS Oil Plc with 36.1 million units worth N4.9 billion.
In terms of volume, also on a year-to-date basis, InfraCredit Plc led the chart with a turnover of 5.8 billion units traded for N16.4 billion. Industrial and General Insurance (IGI) Plc ranked second with 1.2 billion units sold for N420.7 million, while Impresit Bakolori Plc followed with the sale of 536.9 million units valued at N524.9 million.
By Dipo Olowookere
It was another bullish trading session for the Nigerian Exchange (NGX) Limited as it closed higher by 0.59 per cent on Tuesday.
The market further rallied due to continued interest in large and mid-cap stocks on the exchange by investors rebalancing their portfolios for the year-end.
Yesterday, Aluminium Extrusion sustained its upward trajectory after it further appreciated by 9.96 per cent to N14.90, as Austin Laz gained 9.81 per cent to close at N2.91, Custodian Investment improved by 9.69 per cent to N38.50, and First Holdco soared by 9.35 per cent to N50.30.
Conversely, Royal Exchange declined by 7.22 per cent to N1.80, Champion Breweries shrank by 6.57 per cent to N15.65, NASCON lost 5.36 per cent to trade at N105.05, Sovereign Trust Insurance depreciated by 5.28 per cent to N3.77, and Japaul went down by 4.51 per cent to N2.33.
At the close of business, 29 shares ended on the gainers’ table and 27 shares finished on the losers’ log, representing a positive market breadth index and bullish investor sentiment.
This raised the All-Share Index (ASI) by 895.06 points to 153,354.13 points from 152,459.07 points and lifted the market capitalisation by N579 billion to N97.772 trillion from the previous day’s N97.193 trillion.
VFD Group finished the day as the busiest stock after it recorded a turnover of 192.0 million units worth N2.1 billion, GTCO exchanged 63.5 million units valued at N5.6 billion, Access Holdings traded 49.8 million units for N1.0 billion, First Holdco sold 45.8 million units valued at N2.3 billion, and Secure Electronic Technology transacted 38.3 million units worth N28.4 million.
In all, market participants bought and sold 677.4 million units valued at N20.8 billion in 27,589 deals compared with the 451.5 million units worth N13.0 billion traded in 33,327 deals on Monday, showing an improvement in the trading volume and value by 50.03 per cent and 60.00 per cent apiece, and a shortfall in the number of deals by 17.22 per cent.
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