Don’t start a wine business in Nigeria until you finish reading this post.
I understand that you love the idea of running a wine business.
I’ll tell you this for free… wine business in Nigeria is very profitable if you do it rightly.
One more thing…
Infact, this is one of the most important thing to know before you start your wine business in Lagos or any part of Nigeria.
Prices of wine are not stable and can change at anytime.
Most times, prices can change for up to three times in one month and if you’re not aware, you’ll be selling at a loss.
This brings us to the number one thing you must know before you start a wine business in Nigeria.
1. You need to be in regular contact with your supplier.
Always call or chat with your supplier on WhatsApp, to know the latest and get updates.
You can also ask your supplier questions like…
What are the best selling wines currently?
What are the wines that people request for the most?
Such questions would help you know what the customers are requesting for and how you can serve them better by making sure you have what the customers want.
2. If you don’t have cash reserve, don’t supply clubs/bars.
Unless have a healthy cash reserve, you may struggle trying to keep up with clubs and bars.
Most clubs and bars in Lagos have a policy of paying their suppliers after two weeks of supply or more.
If you supply 5 clubs and their payment policy is two weeks after supply, can your business survive it?
Most of them don’t even pay you completely after two weeks.
You need to be very careful of your dealings with clubs, lounges or bars, if you want to operate a successful wine business in Nigeria.
Ensure you have a written and signed agreement with them.
If possible, insist on payment at the point of delivery or payment before delivery. This would save you a lot of headache and pain.
3. Be careful of friends who must come to drink and pay later.
Some of them may never pay.
I have seen such people. I have seen many of them. People who behave like that will most likely lead your business into debt.
I have had such experiences in the past. It has led to the end of many friendships.
A friend who cannot support your wine business by paying for a drink is not really a friend.
Do not give rooms for friends to owe you money. It is always difficult getting the money back.
Always treat your business as a business and not a charity credit house.
4. Keep records.
Every business should have a record.
Your wine business should have a record.
You need to keep record of your customers.
You need to keep records of the number of times someone buys from you, so that you can reward loyal customers.
This would make them buy more and also refer more people to you.
Word of mouth is very important if you want to have a successful wine business in Nigeria.
You need to keep record of your best selling products.
You need to keep financial records, purchase records, sales records, debtors record, record of expenses such as utility bill, local government levies, etc.
It would be impossible to run a successful business without keeping records.
5. Always verify claims.
There are people who would come to your wine store claiming to be this or that.
Some would claim to be from the local government, some would claim to be from the tax office, others would claim to come from state operations.
I have had an encounter with many of them.
They will come with forms and receipts, asking for one payment or another.
Do not pay anyone.
Always verify every claim and do not pay cash to anyone.
Most of these people are on an illegal duty, do not indulge them.
Tell them that you will visit their office and process every fee that you owe.
Tell them to give you their names and office address.
Don’t fall a victim of lazy people looking for who to collect money from.
Wine business in Nigeria is a good and profitable business that anyone can operate.
You need money to be able to operate a successful wine business in Nigeria, especially in Lagos.
I have a post that reveals how you can start a wine business in Nigeria. It is a step-by-step guide that shows everything you need to know about starting and growing your own wine business in Nigeria, even if you have never done the business before.
Remember that one of the most important factors to consider if you want to run a successful wine business in Nigeria is to sell only ORIGINAL WINE AND LIQUOR.
If you don’t sell ORIGINAL wines, people will find out and when they find out, they will stop patronising you and they will tell other people that you do not sell ORIGINAL wines.
What do you think would happen to your wine business when people realize that all your wines are not original?
You will start losing customers and when you start losing customers, your wine business is begin to go down.
I know you don’t want that to be your portion.
So make sure you get a supplier that deals on ORIGINAL WINE & LIQUORS only.
We currently have customers in over 15 states in Nigeria and they all trust us because we supply them ORIGINAL WINES and LIQUORS all the time.
We have been able to grow our business to a very high level because we only deal on ORIGINAL wines at Wine House Nigeria.
If you make us your supplier, you will always get ORIGINAL wines and we will also guide you on how to make sales and grow your business.
Feel free to call us or chat with us right now on WhatsApp.
Our WhatsApp number is 08135262270
You can also follow us on Instagram. Our Instagram handle is @winehousenaija
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