Practical Guide On How To Start A Profitable Tourism Business In Nigeria

Practical Guide On How To Start A Profitable Tourism Business In Nigeria

Tourism is always a profitable business anywhere in the world. It is a fast-growing venture in Nigeria and of course, Nigeria has some interesting spots that attract tourists. There are a lot of opportunities to make money if you start a profitable tourism business in Nigeria.

The argument is not about making money from tourism because it is always a constant. It is rather about the kind of money you can make from it. The way you set up your tourism business will determine the kind of money you will make.

Related: A Practical guide on how to start a food processing and packaging business in Nigeria

From the above assertion, we will guide on how you can start a profitable tourism business in Nigeria. that is not all, we will also bring to your notice the opportunities open to you in tourism.

Nigeria is always having an influx of travelers and that presents a good business and increases the tourism business in the country. The fact that these travelers will need help finding their way around the country presents a great business opportunity.

They may need assistance in getting to where they want to see, getting accommodation, security and other things that will be important to them. If you can provide these needs, you are in for a serious business.

Business Opportunities In Tourism Business

1. Accommodation

Every tourist would want accommodation as far as the person is going to spend some days. It is paramount for the person to get a good accommodation. In choosing accommodation, the person is concerned majorly about his safety and the level of comfort he/she will enjoy.

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So if you are in the hospitability business or real estate business, this could be an opening for you. There will be hotels, motels, rental apartments, guest houses and a lot of other things to handle for the tourists and make money.

2. Transportation

The tourists will always move from one place to another. That is an opening for you in the tourism business. You could cater for transportation in the form of bus shuttles, chauffeur services, car rental, water-based transportation and air-based transportation.

Tourists are always on the move and must inevitably use transportation.

3. Tour Guide/Guided Tours

When people visit interesting sites for the first time, they always need someone to point them in the right direction. This is where a tour guide comes in.

This tour guiding business involves tours to people who are visiting interesting places probably for the first time and you are definitely sure you will make some money form that.

4. Foodservice Business

In the tourism business, food service is a booming opportunity. People must eat and there is no supplement to that. You must eat or you must eat. People need to eat to keep body and soul together and you can make money by making that happen.

When people visit new places, they are always out to try local treats. It is always part of the plan. When you can establish a food business in a tourist area, you are in for serious business.

5. Leisure/Fun Spots

People cannot pass on the opportunity to relax even if it is their first visit to the place. It could be for fun or for business but either way, they will need to unwind and relax.

Therefore, the establishment of bars, nightclubs, amusement parks, dancehalls, spas, and lounges near a tourist prone area can all put money into your pocket

6. Videography/Photography

You can argue that this is becoming obsolete given the introduction of smartphones. Indeed, the need for photographers in tourist areas has dwindled but it is not obsolete yet.

If you have the right skills and the right instruments, you could still generate some funds from photography in tourism prone areas.

7. Translators

You could start up a small scale translation business and be sure it will pay. There will be people from different backgrounds coming to the tourist area you will choose and you will need to translate for them. you do need to arm yourself with two or more foreign languages and you will need to understand the local language.

Other opportunities include

8. Souvenir Shops/Museums

9. Magazine

10. Blogs

11. Security

How To Start A Profitable Tourism Business In Nigeria

1. Research the business

To start a profitable tourism business in Nigeria, you need to take out time to understand the business so as to be sure of the opportunity you will take in. You will need to find out the tourist attraction sites that people visit often, the things you will need and the city or village it is located.

2. Pick a good location

This is one of the reasons you must take out time to study the business before venturing into it. You may have to move if you are in a place or city that attracts little or no tourists to a place where there are many of them. You will need to know the kind of attractions that come to your area and that will have a say in the kind of business you will venture into.

3. Choose the right type of tourism business

When the location is set, you will need to settle on the exact tourism business you would want to establish. There are things you will need to consider here; your skill set which is of paramount importance, the things that thrive in the tourist location you have chosen, your passion and your expertise in the business.

According to Edom, “, if you are skilled at writing and have knowledge of the tourism industry, blogging or the magazine publishing business could be a good fit for you. But if you are experienced in the transportation industry, opening up a transport company or travel agency would be the better option.”

4. Write a good business plan

To get your business up and running, you will need to take out time to prepare a good business plan detailing certain important aspects such as your cash flow, SWOT analysis, exit strategy, marketing strategy and others.

5. Capital

It will always boil down to how much you need and how much you can raise to kickstart your business. When you are aware of how much you need, you will have to source for capital. The amount of money you need will determine where to source it from.

6. Register your business

Put a name to the company. I guess that shouldn’t be a problem. You can reach us at entrepreneur.com and we will give you a great name.

When a name is picked, you will need to visit the appropriate authorities to register your business. Irrespective of the kind of business, you must visit the Corporate Affairs Commission (CAC) and then any other agency related to the business you want to start.

7. Find the right office space

To start a profitable tourism business in Nigeria, you will need an office space that is adequate for the operations you would be carrying out. You will need to rent an office around popular tourist areas or places with high tourist traffic.

8. Create A Website/Blog

This is the 21^st century which means you must take your business online. People who are looking for how to enjoy their visit to Nigeria will search you out when you have a website or a blog about your business. Make your presence felt online because of the competition you will face.

9. Advertise and Market Your Business

If people don’t know about your business, there is no way on earth you are going to make sales and make money. This is why you need to put great efforts in marketing and advertising your business.

Explore all options for advertising and marketing open to you and you will be good to go. Try the social media and try offline advertising.

10. Employ

Well, this is optional. It is dependent on the scale at which you are operating. However, if you want to start a profitable tourism business, you will need to recruit some employees. To do this, you must be careful because the people you recruit will determine how far you can go in your business.

 

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