Starting a TV station in Nigeria could prove to be a very viable business, especially if you have the passion, and you know the required steps on how to start the business. With lots of people always watching TV and always becoming more inclined to get entertained by the TV.
Television has the ability to convey your message with sight, sound, and motion, and can give a product or service instant validity and prominence. So in this article, you will discover how to package 10 programs for over 150 TV Stations in Nigeria and earn millions of Naira from sponsors.
How To Start A TV Station In Nigeria
1. Conduct Extensive Research
Before you proceed to start a TV station in Nigeria, you need to do thorough research on the industry. See how viable it would be before you venture into it. Take considerable time digging deep into the industry. Try to see how you will be able to take advantage of the market. It would be a huge benefit if you have some sort of prior experience in the industry.
It would be worthwhile to gather some experience if you do not have a measure of experience in the media industry. This is one business that requires lots of startup capital. So, you would want to err on the side of caution by doing a diligent study on the industry.
2. Get Registered and Licensed
If you are an entrepreneur who is interested in starting up a TV station in Nigeria, you would have to completely fulfill all the legal requirements pertaining to your TV station business.
First, choose a suitable business name and head to the Corporate Affairs Commission (CAC) to register your TV station business. You must register the TV station business as a Limited Liability Company (LLC). Also, the article of a memorandum of association has to contain broadcasting.
Next, you must write an approval to the commission, requesting for the approval to procure a set of application forms which will detail the type of service. You will have to spend a minimum of N50, 000 to N100, 000 just to complete this whole legal process with CAC.
3. Write a Good Business Plan
Without a good business plan, you may as well just say goodbye to your TV station business. Why is that? You will require some sort of funding towards starting your TV station business; and without a well-written business plan, you will not be able to source for a loan from either the bank or from prospective investors.
A good business plan for your TV station business does not necessarily have to be very lengthy. You can keep it short, as long as it contains all the vital aspects of your TV station business. Make sure it includes products and/or services, source of startup capital, marketing strategies, and competitive analysis.
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4. Get the Required Equipment and Staff
Once you have fulfilled all the legal requirements concerning your TV station business, it is now time you started getting all of the needed equipment. And to hire the right staff. It is important you seek the help of experienced people in the industry. This will help you have a good idea of all the resources, as regards equipment. The equipment and transmission are technical. So, experts are needed in this regard.