Dendel Winery Feasibility Study

Emmanuel Idusogie OMM 614: Innovation and Entrepreneurship Bendel Vineyard Feasibility Study Dr. Sheila Schmitz December 07, 2009 Bendel Vineyard Feasibility Study – Lagos Nigeria Starting your own wine business is not the everyday business opportunity that everyone can simply jump into, because there are many aspects to consider in starting a winery. Conceivably the most fundamental problem an entrepreneur will face after expressing an interest in starting a new business or taking advantage of visible opportunity in an existing business or entirely new venture will be to conclude the feasibility study of the proposed venture and that study is simply the evaluation of a plan intended to determine the complexity in carrying out a selected task. (Hisrich, et al, 2008) Before committing time and energy to preparing a business plan, the entrepreneur should do a quick feasibility study of the business concept to see whether there are any possible barriers to success (p. 204). In general the feasibility study paves the way for technical and project development implementation. One may wonder why take on a risk venture that is not the type of business that everyone would want to jump into; well, the answer is simply passion, the kind of obsession that generally drive people like myself who is not looking to becoming a multi-millionaire five years down the road. Demand - Given the insatiable taste and demand for alcohol and beverages in Nigeria, I have chosen Lagos Nigeria as the appropriate location for my new venture – Bendel Vineyard. Demand for wine is driven by the restaurant and hotel industries, the level of entertainment spending, and consumer income. There are currently more than fifteen beer breweries in the country. (Obot, et al, 2002) By 1988 there were 13 winemakers and spirit distillers in the country. Both in terms of production volume and revenue, substantial increases were recorded between 1985 and 1988. However, like their beer

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