Having a bet9ja shop can make you a lot of money. Betting remains one of the most lucrative businesses in Nigeria.
You can start a new betting business as an agent or you start a new betting company yourself. Both models can be very profitable.
To open a betting shop, you need to take some steps. These steps are explained in the below sections.
How to start a bet9ja shop
Register your business with the authorities
To operate a bet9ja shop, you will need a business name. You can register your business as an enterprise or you register it as a limited liability company. The Corporate Affairs Commission (CAC) is the government agency in charge of business registration.
There are some bet9ja agents who are no registered with the CAC though. However, it is always better you register your business with the government.
Rent a shop or store
Bet9ja requires its agents especially those interested in having a physical betting location to have a shop or a store.
It is advisable to rent a shop or store in a very busy area so that you will have a lot of customers. Also, you should note that people who live in less expensive locations prefer to bet in store instead of using the bet9jamobile app or website.
Open a bank account
Establishing a banking relationship is key to the success of any business. Find a good bank around you to open a business account with.
If you manage your business bank account well, you can be offered a loan to expand your business. Your bank can also help you to manage your business cash flow.
Buy the equipment needed for the bet9ja shop
A bet9ja shop is expected to have furniture, internet equipment, phones, televisions and other betting gadgets.
You will be told the equipment to put in your shop if your application is successful.
Apply to be a bet9ja agent
You can apply to be a bet9ja agent by clicking on this link https://agents.bet9ja.com/. Your application will be reviewed and if you are successful, the company will notify you.
You can also apply by posting the completed application forms to the office of bet9ja. Some even go to this betting company’s office in order to apply to be their agent.
Open the business to the public
If bet9ja is convinced after visiting your proposed bet9ja shop, you will be assigned a specialist that will guide you throughout the early phase of your business.
Once you have signed the contract, you can open your betting shop to the public.
Bet9ja shops in Lagos, Nigeria are usually very profitable.
How to make millions from bet9ja shop
Locate your betting shop in a busy area
Locating your bet9ja shop in a dull environment will lead to no sales or income.
You should endeavour to cite your betting shop in a place with very high foot traffic. Also, betting shops located in areas densely populated by low income earners make good income.
People who live in expensive areas are more likely to bet through web portals.
Have a website
Though a lot of betting shops do not have a website, this is a big mistake. With a website, people will know about your business and you can increase your leads and sales.
I am currently building free websites for small businesses. You can contact me if you are interested.
You should also devise ways of increasing leads and sales in your betting shop. You can use search engine optimization (SEO), email marketing, PPC Ads and web scraping for leads etc.
You can contact me if you need any of these services.
Add another business to your betting business
You can add a food and drink business to your betting business. Most betting shops are always crowded and busy. Bettors need to drink and eat.
You can either start selling food and drinks to your customers or you outsource it to other people. You will share profit with those you outsource to.
I know a young woman who makes a fortune by selling cooked noodles, water and drinks to customers of a betting shop.
Have a great customer service skill
How you relate with your customers can make or mar your business. If you are one who does not know how to relate with people well, I strongly advise you employ someone who can effectively interact with your customers.
When you relate with your customers well, they are likely to patronize you again.
Show live sports
Showing live sports will attract people to your betting store. Nigerians like watching football matches. You should try and show the live matches of popular football clubs in your shop and see how your customer base will increase.
You will need a set of televisions and subscription to pay TV channels in order to show live matches to your customers.
You will need at least N350,000 to open a bet9ja shop in Nigeria. Please note that there are betting shops you can use over N10 million to open. It depends on the capital you can source for and your risk appetite.
You can contact me if you need a detailed business plan.