23454

MIROPASS A-MART

Nigeria
Branch: Logistics and warehouses, Real estate, Trade, Electronics
The stage of the project: Operating business

Date of last change: 04.12.2017
Min amount of loan
$ 13.888
Estimated yield
10 % a year
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Total required
$ 55.555
Rating
equalizer 167 from 1000
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Also this project:
- sells business
Idea
Miropass a-mart is an online and offline shopping A-mart with the integration of Network Marketing.
I have done all the needed registrations with the Federal Republic of Nigeria. The E-commerce website building is on going in India. As a young entrepreneur who want to create jobs that will employ over 50,000 Nigerians and reduce poverty by 5% in Nigeria and empower as many I can in Africa. I have gotten suppliers who are ready to supply the malls both online and offline. From the networking part the company will make huge profit. I want to set up
Current Status
I have done all the needed registrations with the Federal Republic of Nigeria.
I have the following;
Certificate of Incorporation
Economic and Financial Crime Commission Certificate
Value Added Tax Certificate
The E-commerce website
Warehouse
Offline shopping mall set up


Market
Ecommerce in Nigeria
In 2017, the Nigerian B2C ecommerce turnover grew by 29.8% to $12 billion. (4.3Trillion) Nigeria had an online population of 91.6 million of people who were aged 15 and older.
Of the total online population, 50.3 million bought something online in 2017. The average spending per eShopper was $700 in this year.
E-commerce in Nigeria records over $1.3bn per month from the 41% of Nigerians who prefer to buy products through the internet. Banks recorded volume of 304,307,931 of online transaction worth 22 billion Naira in the 1st quarter of 2017. E-commerce continues to accelerate and the amount of money spent on purchases made through the Internet shows no sign of decline. Retailers saw online revenues quadruple, jumping 300% . Experts in the Nigerian financial service sector have estimated that Nigeria’s e-commerce market value could rise to $50billion (N15.45trillion) over the next decade. Analysts at FBN quest believe the growing appetite for mobile data usage as well as increased network coverage has increased the potential of Nigeria’s e-commerce market. “Based on data from the Nigerian Communications Commission (NCC), mobile network coverage is currently estimated at 77per cent on the basis of 185million as the country’s population. However, internet data penetration via GSM is lower, at 50per cent. The potential impact of a thriving e-commerce market is improved trade activity as it provides a cost-effective method of connecting producers and merchants directly to customers, “the analysts stated. Our GDP growth projection for 2017 is 1.6 per cent year-on-year (y/y).
The study indicated that online sales were growing at 145% annually and it projected online retailer revenues of more than $36 billion for last year. An earlier study conducted by Ernst & Young, before the holiday frenzy, already estimated that total revenues for online retail and consumer products for the calendar year just completed were around $25-30 billion. Currently, the average rate of returns for Internet-based companies is 9%. In the coming year the value of returned merchandise was $1.5 billion. This indicates an amazing opportunity.
Problem or Opportunity
Retail industry have a very ancient history. Retailing involves the process of selling consumer goods or services to customer through multiple channels of distribution to earn a profit.
In Africa, the industry is just making ways because many don't want to pass through the stress of shipping and sending money abroad.
Recently, the retail industry in Africa, Nigeria in particular has been said to reach an all time high of $1.3 Trillion by 2030.
E-commerce in Nigeria records over $4 Million worth of transaction per week and close to $2.6 Billion per month from the 40% of Nigerians who prefer to buy products through the internet.
So retail industry is a fertile land to plant.
Competitors
Other online E-commerce
Advantages or differentiators
In today’s market it is important to distinguish yourself from your competitors; this is the only way to survive. This is why Miropass A-mart is an ‘omnichannel’ organization. Omnichannel (also called multichannel or cross channel) means the same customer experience is enrolled throughout different channels. The consumer has to be king when it comes to electronic commerce. Whatever device or shopping channel a person chooses, and wherever the shopper is, the same seamless experience needs to be provided.
As Omnichannel our channels include:
• Physical stores
• Online shops
• Mobile stores
• App (on mobile, stores)
• Telephone sales
• Online chat
Finance
Our sources of income are
Daily sale from the online and offline malls
Multi Level Marketing Registration fee; we have 5 packages
Customer Package1: N10,000 ($27.7)
Customer Package2: N20,000 ($55.56)
Customer Package3: N50,000 ($139.9)
Customer Package4: N100,000 ($277.7)
Customer Package5: N200,000 ($555.5)

In summary based on calculation and analysis
Using 8191 customers;
For Customer Package1: Income will be N81,910,000 ($227,527.8)
Profit N54,833,500 ($152,315.3)
For Customer Package2: income will be N163,820,000 ($455,055.6)
Profit N91,299,000 ($253,608.3)
For Customer Package3: income will be N460,750,000 ($1,279,861.1)
Profit N277,255,000 ($770,152.8)
For Customer Package4: income will be N819,100,000 ($2,275,277.8)
Profit N334,745,000 ($929,847.2)
For Customer Package 5: income will be N1,638,200,000 ($4,550,555.6)
Profit N483,360,000 ($1,342,666.7)

Financed earlier, $
Loan terms
24 months
Interest rate, %
10
Type of pledge
Another
Pledge and assets
30% share of the company.
Business model
Solution (product or service)
Miropass A-mart is a well defined Omnichannel Business-to-Consumer (B2C) E-commerce. In a Business-to-Consumer ecommerce environment, companies sell their online goods directly to consumers; the end users of their products or services. Usually, B2C ecommerce web shops have an open access for any visitor, meaning that there is no need for a person to login in order to make any product related enquiry. Nowadays ecommerce takes place through multiple channels: computers, mobile devices, tablets, apps etc.
In today’s market it is important to distinguish yourself from your competitors; this is the only way to survive. This is why Miropass A-mart is an ‘omnichannel’ organization. Omnichannel (also called multichannel or cross channel) means the same customer experience is enrolled throughout different channels. The consumer has to be king when it comes to electronic commerce. Whatever device or shopping channel a person chooses, and wherever the shopper is, the same seamless experience needs to be provided.
As Omnichannel our channels include:
• Physical stores
• Online shops
• Mobile stores
• App (on mobile, stores)
• Telephone sales
• Online chat
Lead creditor
Risks
Very minimal
Incubation/Acceleration programs accomplishment
No
Won the competition and other awards
NO
Invention/Patent
Videos
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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
Videos
 
I want to lend
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