Starting Up Your Own Hangout

Hangout

Startup Capital Requirement: N250,000

Summary: This is having fun and making money at the same time. This is a venture that really emphasizes “you are the boss”. With a capital of between N250,000 to N500,000 you can have a turnover of over N1Million just having fun and managing resources.

Introduction

Hangout is your own relaxation spot; where you relax and make money, so long as you can automate things and let people make money for you. Just like the viewing centre business, you will have to be very creative and have a unique selling point. You have to decide the services you would offer, the limit of customers and the class of customers. Depending on your location and class of customers, you can calve a niche for yourself.

Required Resources

Assets

Business space

Furniture and fittings

Essentials: Generator, Refrigerator, serving accessories etc

Personnel

Minimum of Three

Caterer
Bartender
Service personnel(s)
Sales person
Business manager
Security

Capital

With N250,000 to N500,000 you should be good to go. Leaving room for growth, it is often better to start small, get to understand the market and take advantage of the gaps.

Required Skills