If you are ready to start a wines and spirit business in Kenya,I am going to take you through the exact steps that successful business people use.
Step 1: Look for Capital
First, ensure you have enough capital to start the business. You will need a capital of 200,000- 400,000 shillings. That way, you will be able to pay rent, licenses, room furniture, among others. If you don’t have this amount of money, consider applying for a loan.
Step 2: Find a Suitable Business Location
If you already have the capital, look for a suitable business location. A strategically located premise should be in a busy urban center or anywhere near busy roads with enough human traffic.
The aim is to increase the visibility of your business.
Also, start your business in a less competitive environment. If your business is close to several other similar businesses, you may not survive the stiff competition, especially now that you will be new in the industry.
Look for an affordable premise. According to the experts, a wine and spirits business in the country gives an average income of 40,000 to 100000 per month. Therefore, if your rental cost exceeds 20,000, your struggle might run into a loss.
In this case, you should look for a premise that do not cost more than Ksh 15,000.
Step 3: Get the Required Legal Documents
Now that you’ve got the capital and a good premise, it’s time to fulfill all the legal requirements for a wine and spirits business.
You'll need to do the following:
✓ Register your business name
✓ Register your business
✓ Get a Kra pin
✓ Get a liquor license
✓ Get a county business permit
Step 4: Look for a Reliable Supplier
You must have a reliable supplier to avoid running out of stock or getting low-quality goods. Getting a good supplier is tricky, but not impossible. You only need to be smart.
For example, you can develop a good relationship with workers of wines and spirit shops near your premise. Asking the shop owner isn’t a good idea since they may not take it well, and chances are they won’t disclose their supplier’s details to you.
However, the workers will tell you what you need to know provided you develop a good relationship.
Once you get reliable suppliers’ contacts, get in touch with them and discuss when and where to bring the supplies and, of course, how you’ll pay.
Step 5: Furnish your Business Premise and Bring the Stock
This is the final step. After cleaning your business room, furnish it. Ensure you have enough shelves, seats, and tables.
Remember that a well-furnished room will attract customers. You don’t need costly furniture to make your business room appealing. Simple but well-arranged furniture can be a game-changer.
Also, your stock may cost between 100,000 shillings to 200,000 shillings. But if you are starting a wholesale business, you will need at least 500,000 shillings.
If you want to employ someone to help you run the business, look for the right candidate beforehand. He/she should have prior experience working in a wines and spirit business in Kenya. They should be social with top-notch customer care services.
Content created and supplied by: Flickscollins (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More