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…show more content… It is believed the amount of wines imported into Nigeria annually is in hundreds of millions of dollars, however, effort to gather the exact statistic has not been possible because wine import is grouped along with food and beverages. Liquor houses and bars are open year round. From an economic standpoint demand for wine and other western alcoholic beverages continue to rise as the standard of living improves. Establishment – It takes roughly about four years to establish the proposed vineyard and bring grapes to full production. Therefore the primary establishment costs must be carried forward to be ultimately offset by future income. Based on my investigation, the net cost for years 1 to 4 is amortized over the life of the vineyard. Since I do not have existing grape farm, for the first few years, my wine making will be purely based on licensing agreement with a South African winery to supply grape concentrate that I implement to produce both red and white wines. While I anticipate very low revenue using the concentrate from South African, much emphasis will be placed working the vineyard. Resources – Land, labor and capital are the categories of means used in agricultural production. A fifty-acre land in the outskirt of Lagos has been proposed for the winery. The property is owned by the state government, and there is an incentive of tax break being proposed by the state government.