Cake market is a large one especially in Nigeria where its a tradition. Anyone within the age of 14 can order or buy cakes for someone who is celebrating birthday. Our market is large and cannot fall from generation to generation until the business owners decides to liquidate.
Problem or Opportunity
My clients are birthday celebrants and the problem to be solved is by making cakes available for low income earners as well as the higher income earners so that birthday days can be marked since it's a tradition in Africa especially Nigeria.
Our competitors are many. But the system they use is based on demand. Low income earners are not opportuned to mark their birthdays with cakes. They only attend to 20% of birthday celebrants due to low income earners and many who could actually afford a cake but forgot their birthdays. Also our competitors focus on wedding cakes than birthday cakes.
Advantages or differentiators
We have a very gapping advantage over our competitors because we go to our clients for business while our competitors wait for them to check in.
The minimum cake will be sold for $19 and maximum cake will cost about $30 except the client wants a very customized one.
Interest rate, %
My business model is not based on franchise. Its a standing business on it's own. Franchise are exploited in Africa.
Solution (product or service)
Our products are 100% cakes and the purpose is to help those not opportuned to mark their birthday and those opportuned to deliver cakes at their door steps.
The only risk involved is when our cakes can not stand out in the crowd against our competitors products which is rate almost impossible.
Incubation/Acceleration programs accomplishment
No incubation has been made as the business is new.
Won the competition and other awards
No competition has been attended because the business is new.