Photo - The Oven
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The Oven

Teleworking as the new form of networking.

Kenya
Market: Consulting, Telecommunications, Franchising
Stage of the project: Operating business

Date of last change: 11.05.2020
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Idea

The Oven is our internal data & design-driven networking platform that has helped us scale across 4 continents & 7 different locations over the past 5 years by leveraging existing online platforms & borrowing heavily from elements seen in the freelance/gig & knowledge economies, we have managed to achieve scale as well as maintain quality standards.
We firmly believe that the model, should it be outsourced & further enhanced or tailored - could prove a fundamental solution to a variety of startups seeking to go global or are dependent on global pipelines during these very difficult times.

Current Status

Model is currently in operation but used internally by Business Strategists & Custodians - the developers of the model.
The intention is to use the additional funding to outsource the model that we feel will be essential in the current pandemic environment & additionally, after the pandemic.

Market

Our potential target market would be medium, small & micro-sized enterprises that seek to have or maintain a global presence at relatively lower costs by way of leveraging online platforms & borrowing elements from both the freelance/gig & knowledge economies.

We estimate that our largest client base (80%) will come from the emerging economies with a significant share (20%) will stem from developed economies.

In the first year after roll out, we anticipate a minimum of 300 clients adding onto the platform & we expect this figure to be maintained annually for the first three years.

Problem or Opportunity

The ongoing pandemic has revealed how easily global pipelines & networks can easily be disrupted.
Our model ensures that these disruptions are mitigated & normalcy is sustained during the occurrence of such events especially for organizations that have teams & franchises deployed globally.

Solution (product or service)

The platform enables teams & franchises of global entities to network & work seamlessly irrespective of global disruptions that can be circumvented.

This ensures continuity of both services to clients & communication with fellow employees.

Competitors

Although we presently do not have direct competitors, alternatives existing in the market include online platforms such as Asana, Slack, Skype, Workplace & more who offer what will be collectively available on our platform as stand alone features.

Our unique advantage will be combining all these offerings on one platform, further adding tailor-made features for medium, small & micro enterprises seeking to go global at the same rates or lower.

Advantages or differentiators

Our key differentiator will be the speciality features which will be focused on small, medium & micro enterprises seeking to go global or establish franchises.

Secondly, we be pricing a collection of features at a similar & in some instances lower rate to what currently exist in the market as stand alone features.

Finance

From the $100,000.00 expected financing the project; 70% will go towards developing & maintaining it's core features, 20% will go towards alternative features of the platform's services & 10% will go towards developing it's experimental features.

For the returns, we intend to charge a subscription fee of $500.00/year for each subscriber. On even that we meet our initial target of 300 subscriptions in the first year, we anticipate to make a 50% return on the initial investment before taxes & other cost deductions. Our models indicate that our investors will be in a position to earn their initial investment & a further 20-25% after a 3 year period from the time of investment.

Business model

Our business model will mirror the now popular subscription model that will see clients subscribe annually for access to the closed platform & its features.

We are presently looking at ways to improve the model, as well as take advantage of the ongoing pandemic by having clients subscribe bi-annually such that we can secure future revenues.

Money will be spent on

70% of the availed capital will be spent on further developing the core features of the project such as data hosting, coding & more.

20% will be spent on the alternative features of the project, such as integration.

10% will be spent on the experimental features of the project. This includes use of new generation technologies such as AI.

Offer for investor

We are willing to cede up to 40% for the requested $100,000.00. Our intention is to return these figure in 3 years at a 20-25% yield.

Mentors & Advisors

Risks

Our key risks will be low subscriptions than anticipated - this we intend to navigate by aggressive promotion globally.

Incubation/Acceleration programs accomplishment

Business Startegists & Custodians has its own internal incubator program to which project was subjected to for a period of nine months in Kilifi County, Kenya.

Through the incubation program we managed to scale the paltfrom for internal use in four continents; Africa, Asia, Europe & North America & seven different locations; New Jersey, (USA), London (UK) , Vigo (Spain), Saga (Japan), Dubai (UAE), Nairobi & Kilifi (Kenya).

At its peak, what we consider one subscription was used by a total of 25 consultants & freelancers.

Won the competition and other awards

The Oven was overwhelmingly the most successful product/service for Business Strategists & Custodian's 2016 Incubator Program.

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video