IDEA #17 - 52 WEEKS, 52 BUSINESS START-UP IDEAS

1.     The Idea

Football has grown to have a huge place in the culture of many Nigerians, who havegrown an affinity to the beautiful game, especially the European leagues and Cup tournaments.

Providing a 300-500 seater venue (AC fitted/Fans), which charges 100 naira per match, can be a source of revenue generation, seeing that there are an estimated 6-10 key matches every week, whilst the leagues are in session. This will work best in crowded (highly populated) residential settlements. While there may already be some forms of this already being operated, you can break in with something that offers more and gives the football viewer a richer experience.

Features of the Viewing Centre could include these amongst others:

• Projectors and Screens
• VIP seats (They will pay more)
• TV screens
• Furniture (Chairs)
• Drinks
• Air conditioners/Fans
• Wifi
• Bouncers

Idea Summary

• Get an ideal location (in a highly populated settlement).
• Agree with the owner of the land for lease/rent agreement.
• Get necessary documentations and licensing.
• Setup your structure (think about ventilation).
• Install facilities (projectors, TV, chairs, fans, Generators).
• Advertise and Market your new business.

2.     The Business

• Value Proposition:  Convenient environment for football viewing with large number of people. The large screen would provide clearer picture and a stadium feeling.
• Customer Segment: Football lovers, those in crowded settlements who may not always have power supply or be able to afford DSTV subscription.
• Distribution Channels: Flyers, roadside display boards, sales and marketers
• Customer Relationship: Direct and Mass
• Key Activities: Football Screening, Ticket selling, advertising and marketing, customer service
• Key Resources: Projector, DSTV box, TV screen, Centre structure (Tent, woodframed), Support staff
• Security support, General Manager, Air-conditioner, Generator and fuel
• Key Partners: Relevant government regulatory agency, Cable TV providers, Technical supporters
• Cost Structure: Facility setup, DSTV, Projector, speakers, Ticket printing, Salary and wage bill
• Revenue Stream: Ticket sales, venue rental fees (conferences and lectures), drink sales

3.      Competition

• There are presently some bars in some neighborhoods that show football matches for free, for as long as you come in and buy a drink. These are going to compete against your business or else you work to get a clear competitive advantage.
• One advantage yours might have over theirs is the ‘No Smoking’ policy as some of these bars do have people smoking.
• If you use a projector and setup a large screen, it would be way bigger than theirs

4.     Risks

• Your set up needs to be solid so that it would not be affected when rain falls which is the case with most of the cable TV providers whose signals are affected when it rains or when its very windy.
• The center would have lower business during the periods when the major leagues are on break, between June and early August. To ensure continued business activities, the center could be rented for conferences and lectures, depending on the location.
• Give more thoughts to challenges that might be peculiar to your own environment before jumping into this Business (Youth levies, area boys, insecurity, etc.)

5.     Rough Financial Income Projection

If you have 150 people out of your 300-500 capacity, pay 100 naira per match, that is 15,000. And if you have average of 6 matches in the whole week, that is 90,000 a week, making at least 360,000 naira a month, and having that for at least 9 months as the major European leagues do go on break for at least 2 months in the year. So, 360 thousand naira in 9 months give 3,240,000 naira annually.

Bonus Income

Since most of the matches might be played at weekends, and from afternoon through till evening, the Centre can make extra revenue by renting out the facility for Conference meetings, Seminars and Lectures.

Summary

To successfully set this up, you would need to research properly and identify areas where you can save cost and reduce operational cost in order to increase profit margin.

Thanks for following this series.

Till next week, stay inspired.
 

ARTICLE BY MR EBIS  

Follow Mr. Ebis on twitter @mrebis

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