Basic Guide To Starting Up a Successful Cinema Business in Nigeria in 2020:
A Cinema, you understand, is simply where movies are shown for public entertainment usually for a fee. It is a cool business due to the passion for entertainment in this country.
Smart businessmen most often add ice cream, popcorn, other snacks and drinks to this business. Hence, deriving additional income apart from films showing.
Cinema business, just like any other business comes with its challenges. It is ideal to discuss this first before proceeding to discuss how to start a cinema business in Nigeria.
Challenges in Cinema Business in Nigeria
Problems of Insufficient funds:
Cinema business is a capital-intensive business which can be reflected in aspects such as exorbitant rent spaces, facilities, registration as well as licensing fees.
Negative Mentality and Attitude
Most people fail as a result of a negative attitude and mentality, even before the start of the business. This can be reflected first in the entrepreneurs’ perception of the success of the business. Secondly, is the problem of public acceptance of the initiative.
Economic issues here include predisposing risk factors linked to siting of the business, disease breakouts, natural disasters, etc. people are scared to gather in groups especially where cases of natural and man-made disasters are on the increase. Crime and other civil ills also contribute to discouraging this business’s patronage.
abuse of the cinema venue through acts like smoking, sex, etc., could lead to the closure of the business by the government especially where such are not endorsed by law.
With this background information, let us now discuss how to start the Cinema business in Nigeria.
How to Start Cinema Business In Nigeria
Conduct Personal Research:
As a starter, you are not expected to make many financial gains yet. since you are, as I presume, a novice in the line, you have to contact specialists in the field and related fields such as recording studios, events planners and decorators and everyone else that can help turn your dream cinema business into a reality. Tap from their wealth of experience and leverage on this to develop your Cinema business in Nigeria
They would help you with a good location, market survey, design, etc.
Do A Feasibility Study of the Area:
By this, visits other cinemas in town and learn what they do. Get to know how they do it. Leverage on their failures and come up with a clear blueprint for your Cinema business. This will help you in setting up a successful cinema business here in Nigeria.
Get Products Authorization:
To drive in more sales, you need to offer VAS at your Cinema venue. This includes things like snacks, beverages, drinks, and even movies. Though not compulsory, yet they are necessary.
As such, you must obtain a franchise permits or authorization from the companies offering these products and services before retailing them at your cinema venue.
Be Competent and Qualified:
You need some education and training so as to function properly in your cinema business. Else, you will be running your business at a very big loss. You must be educated in areas such as Movie Ticket handling, cinematography, auditing and crowd control. A simple few months of training at a business school can help fix these where lacking.
Contact Movie Dealer’s/Distributors:
Reach out to movie dealers/distributors for trending yet-to-be-released and anticipated movies. of course, the higher the hype, the higher the prospects. This would naturally translate to higher remuneration as many customers flock into your cinema venue to watch these movies.
Rent Space and Arena:
You need a good location for your cinema business in Nigeria today. Such a space should contain your customers likewise your equipment and staff. A busy area of town is most preferable as it has much attention. It’s also close to the market. busy people, of course, are busy making money. After a long day, people are likely to find a good spot to unwind. A cinema spot insight would be more than welcome at such times.
Acquire good cinema Facilities/Equipment:
One of the biggest selling points in the cinema business is the type of equipment and facility used. So, ensure that your lighting facility is more than good and your interior design also good. You must also have sound speakers and sounds systems. make your business compelling because the first impression matters a lot in life.
Plan an Income Alternative: Reason behind this
Every business no matter how juicy at first has a downside. Cinema business in Nigeria is not an exception. As such, have a backup plan by offering businesses at your Cinema venue. This includes sales of popcorn, drinks, beverages, etc. this would enable you to balance financial gaps created to cover the cost.
Invest in Good Advertisements:
The advertisement is the key to more income. As such, endeavor to put your business up in quality print media. This includes newspapers, magazines, posters, flyers, etc. Also, make use of the broadcast media. These include avenues like television, radio, the internet, etc. try as much as possible to drive increased exposure to your Cinema business.
My Final Thoughts
With this article, I believe you can now start a good cinema business in Nigeria today. Let me get your feedback in the comments box below. Thank you.