Achieving Financial Freedom Running Restaurant Business

Restaurant business is one of the businesses that thrive very well in this part of the world, especially in the city, considering the hustle and bustle of city life like Lagos. Restaurant business will continue to thrive as long as humans remain on planet earth, and they need to satisfy their primary need of food. It will continue to thrive as long as we have bachelors who don't have the time and the ability to cook for themselves. It will continue to thrive as long as we have more people coming to live in the cities. If you want to start a business but don't know where to begin, this business is worth your consideration.

This is a business that is often neglected by people. Most people consider it a demanding business, others consider it a dirty business or a business for the low class. Others argue that the reward is too poor compared to the input. But I have an acquaintance who have sponsored her children in one of the best universities in the country doing this business, not even in a big way, not in a big city, but a local part of Lagos.

Your level of education does not matter. That you are a university graduate is immaterial. A lot of our university graduates remain jobless because of such mentality. They feel too big to go into some certain businesses. They rather prefer to roam the streets in search of non-existent white collar jobs.

Capital Requirement

The good thing about this business is that it does not require much capital for a start. The amount of money required depends on the location and the extent to which you want to start the business. You don't necessarily need to start big, you don't have to wait until you have all the money before you start something.

Particularly, if you live in an industrial area, like in Ikorodu North Local Government, where you have a lot of industries, there is a huge market for people in this business. And you can start this business with as little as N 50,000 (as at the time of writing this article). You may be surprise to hear this, right? Yes, I mean you can start a restaurant business with as low as fifty thousand Naira in Ikorodu industrial estate.

Here is the breakdown of your expenses. 

Rent: You will pay a token amount of money to land owners ( popularly called "Omo ni ile" in Lagos). The amount you pay may be as low as N10,000 or even less than that, depending on your negotiation and the type of person you meet. After the first payment, you will be paying less than that monthly. The first payment is for the space you will be using.

Wood/Furniture: The space you paid for earlier, is not a shop, but an empty space. You will need to build a kiosk for yourself. You will need about N20,000 for the kiosk and for other furniture you will use. It also depends on your negotiation skills and the location of your choice.

Going through the above, we have spent N30,000. The remaining N20,000 out of N50,000 can be used to start the cooking and other running around for the start.

That you are a university graduate does not make you too big to give this business a consideration. You can start it and package yourself in a graduate's way. Everything depends on how you package and present yourself. You may have an excuse of I don't know how to cook. Every knowledge you need is always out there. Go in search of it and you will find it.