Moving to cape verde for business

    I am keen on moving to cape verde to establisha food business or beverage business . How can i facilitate that .
   

    -@kushimoolasunkanmi118

Hi Kushimoolasunkanmi118,

A restaurant or bar can be a good business in Cape Verde. You should do so in Sal or Boavista which are the islands where 80-85% of the nearly one million tourists visit annually. There are enough of them who leave the all inclusive hotels to fuel sales of restaurants, bars and night clubs.

I would not advise that you start a restaurant business on the other islands unless it is in Praia where 50% of the local population lives. Local people love to go out to eat and drink, and to watch European football on the big screens. If you choose Praia, your offering and space would have to be top flight to differentiate yourself and to attract the local professionals who have disposable income. If you go for the lower end of the market, there will be lots of traffic but unsustainable margins.

To start a restaurant in Sal, you will need about €50,000-100,000. To do so in Praia, you will need about half of that. A bar will require about 50-75% of the investment needed for a restaurant. The amount you ultimately invest will depend on the level of quality of your offering, and the size/quality of the space.

Finally, I'd strongly suggest that you first come to Cape Verde to do a market analysis to understand what is already here in terms of establishments and their offerings, along with producing a good business plan.

Cheers,

Angelo