OMM 614: Innovation and Entrepreneurship
Bendel Vineyard Feasibility Study
Dr . Sheila Schmitz
January 07, 2009
Bendel Vineyard Feasibility Study – Lagos Nigeria
Starting your own wines business can be not the everyday online business opportunity that everyone can simply bounce into, because there are many aspects to consider in starting a vineyard. Conceivably the most fundamental difficulty an entrepreneur can face after expressing a in beginning a new business or enjoying visible chance in an business or completely new endeavor will be to conclude the feasibility study with the proposed enterprise and that analyze is simply the evaluation of your plan designed to determine the complexity in carrying out a selected task. (Hisrich, et al, 2008) Just before committing time and energy to preparing a small business plan, the entrepreneur should do a quick feasibility study with the business strategy to see whether there are any kind of possible limitations to success (p. 204). In general the feasibility analyze paves the way for specialized and project development rendering. One may wonder why accept a risk venture which is not the type of business that everyone would want to leap into; very well, the answer is simply passion, the sort of obsession that generally travel people like myself who is not seeking to becoming a multi-millionaire five years down the road. Demand - Presented the insatiable taste and demand for alcoholic beverages and beverages in Nigeria, I have chosen Lagos Nigeria as the proper location to get my fresh venture – Bendel Vineyard. Demand for wine beverage is powered by the restaurant and lodge industries, the degree of entertainment spending, and buyer income. You will find currently more than fifteen ale breweries in the area. (Obot, ainsi que al, 2002) By 1988 there were 13 winemakers and spirit distillers in the country. In terms of production amount and income, substantial increases were recorded between 85 and 1988. However , just like their beverage counterpart, the spirit and wine market was damaged as a result of the economic failure which made its debut in the eighties (p. 2). Nigeria can be described as country of over 150 million persons and the more reliable population determine of Lagos is given by the Lagos Local government as 17, 553, 934, based on well conducted census for social planning; it is the largest business and commercial city in Nigeria. Much more than 90% of the current wine beverages consumed in the area is brought in with many it originating from South Africa, China, and The european union. The demand pertaining to alcohol, especially western alcohol and drinks continue to rise. This can be due simply to the aiming democracy in the area. The country abandoned military dictatorship more than a decade ago and the social-economic and political atmosphere have brought about a total revitalization of the nation's economy. Each of the negative economical policies there are imposed during the series of army regimes have been replaced with guidelines that encourage regional and overseas capital expense. Once again, the oil industry is trying and the standard of living continue to improve Objectives – Having visited three times to Nigeria in the past nine several weeks for the purpose of gathering information regarding Bendel Vineyard, I have concluded, in collaboration with couple friends and relatives whom would-be associates in the vineyard venture that Lagos Nigeria will be the excellent place to put into practice the Vineyard. The aims of this examine are to discover a suitable area, identify industry, and discover the source of grapes and " concentrate” supply until the grapes will be mature and able to be gathered. Also, the objectives include resources just like labor, land, and capital; likely entry barriers and modern creation technologies and quality control in the wineries. Market – Nigerians ingest a great deal of alcoholic beverages for almost just about every occasion. Marriages, funerals and burial events, routine socialization and all holiday seasons demand significant use...
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