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When Sooyah Bistro began in 2018, suya was one of Nigeria’s most popular street foods, but its market remained largely informal, fragmented and dominated by roadside vendors.
Starting with N20,000, Sooyah Bistro says it has grown into a business valued at more than N5 billion, with over 10 branches across Lagos and Ibadan.
However, the journey has also involved navigating rising food costs, currency depreciation, operational inefficiencies and the challenge of expanding without compromising profitability.
In this interview with Nairametrics, the founder of Sooyah Bistro discusses how the business formalised a fragmented food market, funded its expansion through reinvested profits, adapted to different consumer spending patterns in Lagos and Ibadan, and built operational systems to support growth.
The entrepreneur also shares the financial metrics restaurant owners should understand before opening new outlets and the lessons Nigerian founders can learn about cash flow, unit economics and sustainable expansion.
Nairametrics: What are the biggest structural challenges currently facing Nigerian quick service restaurants, and which of them do you believe entrepreneurs need to solve internally rather than wait for government or the economy to improve?
Olamidun Ogundoyin: Nigerian QSR operators face severe structural hurdles like unstable power, cold chain failures, high turnover, and supply chain fragmentation. Rather than waiting for external relief, resilient brands build internal defences.
We protect margins against spoilage by establishing private cold chains with vacuum packaging and decentralised freezing. To counter high staff turnover and scale reliably, recipes and workflows must be strictly standardised so that food quality never relies on an individual cook’s memory. Finally, deploying automated point-of-sale systems that decrement raw ingredients in real time stops internal leakage before it erodes profitability.
Nairametrics: As a business owner operating in Lagos and Ibadan, what differences have you observed in consumer behaviour, purchasing power and operating costs across the two markets?
Olamidun Ogundoyin: Operating across Lagos and Ibadan highlights two distinct market dynamics. In Lagos, consumers prioritise convenience, ordering heavily via delivery apps to avoid traffic and spending more on premium combos. However, this comes with steep commercial rents, high service charges, and a fluid workforce prone to frequent job-hopping.
In contrast, Ibadan diners are value-driven, favouring portion size, dine-in experiences, and communal meals. Commercial leases are 40 to 60 percent lower, allowing for larger seating layouts at lower capital cost, paired with a more stable, loyal workforce that reduces costly staff turnover.
Nairametrics: You started Sooyah Bistro with just N20,000 and have grown it into a business you say is now valued at more than N5 billion. What were the critical turning points that moved the business from a small venture to an enterprise?
Olamidun Ogundoyin: Growing from N20,000 to an enterprise valued above N5 billion was driven by four key operational shifts. First, validating physical retail by moving from home pop-ups to a dedicated container outlet proved that consumers would seek out an elevated suya experience. Next, establishing a centralised commissary for butchery, spice blending, and vacuum packaging eliminated recipe variances and inventory waste across branches.
To drive volume without the capital burden of expansive dining rooms, the brand paired third-party delivery partnerships with proprietary digital ordering channels. Finally, transitioning from founder-led operations to an experienced executive leadership team across supply chain, finance, and quality control created the governance needed for institutional scale.
Nairametrics: How did you fund the expansion of Sooyah Bistro without losing control of the business, and what role did reinvested profits play in the growth?
Olamidun Ogundoyin: We grew Sooyah Bistro without selling away control by adhering to strict cash-flow discipline. For the early years of operation, nearly every kobo of operating profit was ploughed back into the company to secure kitchen machinery, fund central production, and open new locations, avoiding the temptation to draw company revenue for personal luxury.
We also pioneered low-capital modular outlets such as customised shipping containers and express pickup counters instead of sinking hundreds of millions into heavy brick-and-mortar builds, which brought payback horizons down to twelve to eighteen months.
Nairametrics: For entrepreneurs who often expand because a first outlet appears successful, what financial numbers should they understand before opening their second, third, or tenth location?
Olamidun Ogundoyin: Long queues do not guarantee cash flow, and expanding simply because of foot traffic is a common trap. Today, we operate over ten branches because we have always ensured that growth, sustainability, and profitability are guaranteed before opening another door.
Store-level EBITDA must confirm the first branch is truly profitable after accounting for rent, power, spoilage, and labour. The payback period on fit-out costs should not exceed twenty-four months based on actual operating cash flow. Prime cost, combined food and direct labour, must sit below sixty percent of revenue; otherwise expansion simply scales losses. Finally, the new branch requires four to six months of dedicated operating reserves so it does not cannibalise the original site during ramp-up.
Nairametrics: You identified suya as a major consumer opportunity in 2018, despite the market being largely informal and fragmented. What exactly did you see in the market that convinced you this could become a scalable formal business?
Olamidun Ogundoyin: When we evaluated the Nigerian food landscape in 2018, suya represented a compelling contradiction. It was the nation’s most widely consumed street delicacy, yet it remained confined to an informal market marked by unpredictable hygiene, evening-only hours, and inconsistent quality. We recognised that street food did not need to stay tethered to roadside stalls. An expanding urban consumer class wanted authentic flavours in clean, dependable environments.
By deconstructing the core flavour profile through proprietary yaji blends and smoking methods, we could move beyond newspaper-wrapped skewers into an expansive culinary category featuring suya burgers, wraps, bowls, and pasta. Furthermore, by tapping into substantial daytime demand for lunches, quick snacking, and corporate catering, we transformed a night-time street habit into a viable, all-day commercial category.
Nairametrics: How do you balance maintaining affordability for Nigerian consumers with the need to protect margins in an environment where the cost of protein, packaging, labour, and logistics keeps rising?
Olamidun Ogundoyin: Macroeconomic pressures like currency devaluations, food inflation, and soaring tariffs forced Sooyah Bistro to pivot from aggressive physical expansion to operational resilience and unit economics. We know that rising living costs affect customers’ pockets. We have structured our menu so that great flavour is accessible to everyone, no matter your budget.
Dining with us is designed to fit every rhythm of your day and every pocket. For a quick, wallet-friendly bite on the go, our entry tier delivers bold, authentic flavors through everyday favorites like 3K Chow, value rice boxes, chicken suya toast, and single skewers of freshly grilled beef, chicken, or tozo suya.
When you crave something more indulgent, our mid-tier lineup steps up with hearty signature classics, from loaded suya burgers and saucy shawarmas to cheesy melts and smokey suya jollof bowls. For celebrations, gatherings, or sharing with friends, our premium platters take center stage with generous mega power bites, loaded chicken and chips trays, and bumper suya boxes made for feasting. Whether it is an affordable desk lunch or an all-out feast, there is always a flavor-packed experience crafted just for you.
Nairametrics: Looking back at the journey from N20,000 to a business valued at more than N5 billion, what are the three biggest mistakes you made that other entrepreneurs trying to scale should avoid?
Olamidun Ogundoyin: If I had to restart today with N20,000, the first six months would be strictly asset-light. I would spend the capital entirely on quality ingredients and clean packaging, cooking from home and taking pre-orders via WhatsApp and social media for office deliveries to keep fixed costs at zero.
From months seven to eighteen, I would reinvest every kobo into a shared cloud kitchen or an express pickup counter in a commercial district, partnering with local dispatch riders to build consistent delivery volume without signing expensive leases. Between months nineteen and twenty-four, I would lock down supply contracts and standardise proprietary seasoning blends before committing to a permanent site.
The core lesson for any Nigerian founder is that growth is driven by cash conversion, not hype or foot traffic. Food businesses rarely fail because the meals lack appeal; they collapse when liquidity runs dry. Protect your operating cash, understand unit economics, and build processes that function without your constant physical presence.
