Photo - Cakes
22594

Cakes - loan for business

Nigeria
Market: Public catering
Stage of the project: Idea or something is already done

Date of last change: 23.10.2017
Min amount of loan
$  5.000
Estimated yield
5 % a year
0
Total required
$ 10.000
Rating
equalizer 125 from 1000
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Idea

We produce cake for birthday celebration.

Current Status

The business is still an idea

Market

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.

Competitors

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.

Finance

The minimum cake will be sold for $19 and maximum cake will cost about $30 except the client wants a very customized one.

Loan terms

24 months

Interest rate, %

5

Business model

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.

Risks

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.
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Idea
Current Status
Market
Problem or Opportunity
Competitors
Advantages or differentiators
Finance
Financed earlier, $
Loan terms
Interest rate, %
Type of pledge
Pledge and assets
Business model
Solution (product or service)
Lead creditor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video