Are you interested in starting a TV station in Nigeria? Well, it would be worthwhile to stick around and continue reading this article. 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, I tell you starting a TV station may just be the right thing for you to do.

It would interest you to know that it would require a whole lot of resources from you if you are really keen about starting your TV station in Nigeria. The cost of starting a TV station differs depending on your location in the country. However, you should know that you would need a minimum of a couple of tens of millions in Naira before you can start your TV station. It is an estimate though, so bear that in mind.

SEE ALSO: Cost Of Starting A Radio Station in Nigeria

Now, you must agree with me that having an idea of how much it would cost you to start a TV station without knowing the right things to consider, may not be the desired way to go. So in view of this, I will share with you several things you must consider before starting up your TV station in Nigeria.

Cost of Starting a TV Station/Channel

What you intend to be showing or your Niche – Is it going to be a NEWS or Movie channel?
Type of Channel – Is it going to be a Traditional Channel or Internet Channel
Is your Type of TV station going to be Analog or digital

The lowest quality TV/channel you can start is in 30LaKHS

If you looking to start like CNN or ESPN channel you will need 15billion Naira

This will cover the equipment procurement, license from NBC, and other logistics. The figure above is similar to what is obtainable in other countries.

Do Extensive Research on the Industry

Before you proceed to start a TV station in Nigeria, you need to do a thorough research on the industry. See how viable it would be before you venture into it. Take considerable time in 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.

SEE ALSO: How To Start A Business (Complete Guide And Checklist)

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.

Get the Legal Requirement Done

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 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.

Again, you will have to obtain the needed licenses for operating your TV station business from the NBC. Here, you will be required to pay the approved license fee. The license lifespan is for a period of not more than five (5) years. The license you will be given will be revoked after two years without use. For you to be able to get a very good estimate of how much you will spend for the legal processes, I would suggest you make more inquiries and seek the services of a good lawyer.

Get the Required Equipment and Staff

Once you have fulfill 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 to equipment. The equipment and transmission is technical. So, experts are needed in this regard.

You must put together the right staff. Getting the right staff is quite important to the success of your TV station business. It is important you get a team of employees that have the same business vision as you, and are ready to work with you to achieve your business goals for your TV business.

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 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.

If you cannot write your own TV station business plan, then you must seek the services of a professional (preferably a lawyer) to help you write a solid business plan for your TV station business.

Determine the Source of Start-up Capital

It is important you know exactly where you would source your startup capital from. Starting up a TV station business in Nigeria would require a lot of resources. You should be able to carefully consider how you would get the startup capital. Consider whether from the bank or from other prospective investors, etc. Raising several millions of Naira will not necessarily be an easy task, so you have to thoroughly consider this.