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Where to find start-up funding for a new concept
Rank: Elder Joined: 2/16/2007 Posts: 2,114
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Chaka wrote:@Obar1, What I am wondering is this: If your business was to take off,what would its impact be on the traditional car dealers i.e open air show rooms and bazaars?If their business was to be greatly impacted,do you think they will just sit by and watch..? @Obar1, Whats your response to the above?
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Rank: New-farer Joined: 5/14/2013 Posts: 12
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@Chaka. Well, eventually they may team up and do what I do as Kenya is a free market. One thing to note, if a pioneer does a good job,they are likely to retain the bulk of the market (I hope I don't sound deluded by making this comment).
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Rank: New-farer Joined: 1/16/2012 Posts: 56
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Why are we being politically correct, this dude is nuts. Not even great founders like Zuckerberg of fb were paid 340m or USD$4m in the first three years. Mate stop with this delusions of grandeur and get back to the real world.
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Rank: Elder Joined: 6/21/2008 Posts: 2,490
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When the deal is too good...... The man who marries a beautiful woman, and the farmer who grows corn by the roadside have the same problem
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Rank: New-farer Joined: 5/14/2013 Posts: 12
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@Tgoldman. Noted, will try and come back to real world MATE. @ZZE123: This could be a con! @Wazuan's please take note
TO EVERYONE WHO READS THIS STRING, LET ME MAKE IT CLEAR (AND FOR THE LAST TIME), I STICK TO THE FIGURES I QUOTED ABOVE. GLAD WE ARE ON THE SAME PAGE.
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Rank: Member Joined: 4/26/2011 Posts: 759
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Obar1 wrote:@Tgoldman. Noted, will try and come back to real world MATE. @ZZE123: This could be a con! @Wazuan's please take note
TO EVERYONE WHO READS THIS STRING, LET ME MAKE IT CLEAR (AND FOR THE LAST TIME), I STICK TO THE FIGURES I QUOTED ABOVE. GLAD WE ARE ON THE SAME PAGE. No one will give you a shilling to invest so enjoy your dream right now because it is not getting anywhere.
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Rank: Member Joined: 6/17/2010 Posts: 572
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obar1 what is the one word you can use to describe your concept 'One headache for famous medieval holy people was that someone might murder you to acquire your body parts for the relics trade'
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Rank: Veteran Joined: 3/26/2012 Posts: 1,182
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ZZE123 wrote:Obar1 wrote:@Chaka: Circa KES 50M, to be injected gradually over 3-4 months, the bulk of which, will go to Marketing. Forecasted Net profit as follows,having taken away Director's allowances:
YR1 - KES 71m YR2 - KES 199m YR3 - KES 249M
Director's Allowances over the 3 years total KES 342M (taxable). Investing 50M and making a net profit of 71M in the first year is unrealistic - unless you are opening a "Pharmacy" @ZZE123, It's so doable. I know of guys who ship in five "units" every single month,making 7.5mn profit. In a year, that's 90mn. The five units cost 34mn. The goods are legit, not contrabands.
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Rank: Elder Joined: 6/21/2008 Posts: 2,490
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mkeiyd wrote:ZZE123 wrote:Obar1 wrote:@Chaka: Circa KES 50M, to be injected gradually over 3-4 months, the bulk of which, will go to Marketing. Forecasted Net profit as follows,having taken away Director's allowances:
YR1 - KES 71m YR2 - KES 199m YR3 - KES 249M
Director's Allowances over the 3 years total KES 342M (taxable). Investing 50M and making a net profit of 71M in the first year is unrealistic - unless you are opening a "Pharmacy" @ZZE123, It's so doable. I know of guys who ship in five "units" every single month,making 7.5mn profit. In a year, that's 90mn. The five units cost 34mn. The goods are legit, not contrabands. @mkeiyd in your case total cost is 34M*12=408M and a profit of 90M which is 22% return. in this case investment is 50M and return is 71M hence 142% Return... Does this make scene?? The man who marries a beautiful woman, and the farmer who grows corn by the roadside have the same problem
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Rank: New-farer Joined: 5/14/2013 Posts: 12
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@ZZE123: I like the common math you have done, just to confirm, I asked my 10 year old to do it for me, and guess what, she got the same answer. Well done. Now let me ask you something..Do you know the value of the used-car market(including plant, farm and commercial vehicles)in Kenya in 2010, 2011 & 2012?
Now, get back to that internet cafe you always use, Google these figures and once you tumble upon the figures you perceive to be correct, come back and report to us.
U may just notice that the figures I have posted are realistic. One thing I will not do here, is state my competitive advantages.
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Rank: Member Joined: 4/26/2011 Posts: 759
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Obar1 wrote:@ZZE123: I like the common math you have done, just to confirm, I asked my 10 year old to do it for me, and guess what, she got the same answer. Well done. Now let me ask you something..Do you know the value of the used-car market(including plant, farm and commercial vehicles)in Kenya in 2010, 2011 & 2012?
Now, get back to that internet cafe you always use, Google these figures and once you tumble upon the figures you perceive to be correct, come back and report to us.
U may just notice that the figures I have posted are realistic. One thing I will not do here, is state my competitive advantages. I don't know if you've done any kind of business or investment before. Here is what I can say if we have to use your phrase, "Do you know the value of mobile phone market in Kenya?".... I want to start a mobile phone company, give me Kshs 50M. There is a reason why Kenya don't have other cellphone companies apart from the few yet there is alot of money to be made, the reason is known as scarcity of capital. If you have 30 million of your own money invested and looking for 50 million loan someone might talk to you, otherwise I can bet no one will listen to you.
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Rank: Veteran Joined: 4/1/2009 Posts: 1,883
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ZZE123 wrote:mkeiyd wrote:ZZE123 wrote:Obar1 wrote:@Chaka: Circa KES 50M, to be injected gradually over 3-4 months, the bulk of which, will go to Marketing. Forecasted Net profit as follows,having taken away Director's allowances:
YR1 - KES 71m YR2 - KES 199m YR3 - KES 249M
Director's Allowances over the 3 years total KES 342M (taxable). Investing 50M and making a net profit of 71M in the first year is unrealistic - unless you are opening a "Pharmacy" @ZZE123, It's so doable. I know of guys who ship in five "units" every single month,making 7.5mn profit. In a year, that's 90mn. The five units cost 34mn. The goods are legit, not contrabands. @mkeiyd in your case total cost is 34M*12=408M and a profit of 90M which is 22% return. in this case investment is 50M and return is 71M hence 142% Return... Does this make scene?? why not 50m*12 = 600m then?
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Rank: New-farer Joined: 5/14/2013 Posts: 12
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@Rollout: Please understand the context...the context my friend. My concept is just not the car bazaar u r used to, cant you just think outside of that? NO, U CANT!! At any point have I said that no one is not listening, even with my tiny KES 13m input?. Why don't you just wish me luck (even if you don't mean it)then let it REST! I have appreciated your wide knowledge, you have educated me well.
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Rank: Veteran Joined: 11/17/2009 Posts: 2,038 Location: GA
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@obar have someone else look at the business plan .great read below why its important at $5.2-billion Iridium was one of the largest, boldest and audacious startup bets ever made. It All Came Crashing DownAll this, plus the corporate hubris of having raised billions of dollars, with no adult on either Iridum’s or Motorola’s board who was asking “does this still make sense?” resulted in a disaster. Instead of the 42 million customers called for in its business plan, Iridium had 30,000 subscribers at its peak. http://steveblank.com/20...-billion-dollar-mistake/
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Rank: Member Joined: 4/26/2011 Posts: 759
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Obar1 wrote:@Rollout: Please understand the context...the context my friend. My concept is just not the car bazaar u r used to, cant you just think outside of that? NO, U CANT!! At any point have I said that no one is not listening, even with my tiny KES 13m input?. Why don't you just wish me luck (even if you don't mean it)then let it REST! I have appreciated your wide knowledge, you have educated me well. @Obar1, I am just giving you a real world perpective and behind the scene doubts that a potential investor would have when you come up with wild ideas, infact unless you've discovered a cheaper way to manufacture a car, there are a limited ways you can be innovative in selling cars so get out of your dream now.
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Rank: Member Joined: 7/27/2008 Posts: 241
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Obar1 wrote:@ZZE123: I like the common math you have done, just to confirm, I asked my 10 year old to do it for me, and guess what, she got the same answer. Well done. Now let me ask you something..Do you know the value of the used-car market(including plant, farm and commercial vehicles)in Kenya in 2010, 2011 & 2012?
Now, get back to that internet cafe you always use, Google these figures and once you tumble upon the figures you perceive to be correct, come back and report to us.
U may just notice that the figures I have posted are realistic. One thing I will not do here, is state my competitive advantages. The shouting aside, my greatest concern is an obvious extrapolation based on your not stating the idea, it evidently is something very easy to replicate. Hence what you view as a competitive advantage will only last until you start your business. As you have stated, what will the current (well heeled) businesses do in response to the threat? You mention that it is not really patentable; and although in the process of being trademarked(sic), we all know that Trademark is bull crap (as we have learned) in Kenya. So, what protection do I have for my 50M investment? 2 Cents. P/S If it is being done elsewhere, then most likely there already exists a patent/trademark for it….. Quote:Buy when there's blood in the streets, even if the blood is your own...
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Rank: New-farer Joined: 5/14/2013 Posts: 12
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@madollar: The business plan has been looked at by 3 independent financial professionals. The financial bit was actually drafted by them.
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Rank: Veteran Joined: 3/26/2012 Posts: 1,182
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ZZE123 wrote:mkeiyd wrote:ZZE123 wrote:Obar1 wrote:@Chaka: Circa KES 50M, to be injected gradually over 3-4 months, the bulk of which, will go to Marketing. Forecasted Net profit as follows,having taken away Director's allowances:
YR1 - KES 71m YR2 - KES 199m YR3 - KES 249M
Director's Allowances over the 3 years total KES 342M (taxable). Investing 50M and making a net profit of 71M in the first year is unrealistic - unless you are opening a "Pharmacy" @ZZE123, It's so doable. I know of guys who ship in five "units" every single month,making 7.5mn profit. In a year, that's 90mn. The five units cost 34mn. The goods are legit, not contrabands. @mkeiyd in your case total cost is 34M*12=408M and a profit of 90M which is 22% return. in this case investment is 50M and return is 71M hence 142% Return... Does this make scene?? @ZZE123, Are you serious? This guy is asking for 50mn to make profits of 71mn, you say it's not realistic, i give an example of 34mn giving 90mn and i see a figure of 408mn as total cost? Are we looking at cost of goods sold or the CAPITAL invested? And @Obar is saying well done and asking his kid? Cost of goods sold and CAPITAL invested are two distinct things. They are not the same. @ZZE123, now do you agree that 50mn can give you 71mn in a year? An investment of 34mn gives 90mn in a year
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Rank: Veteran Joined: 3/26/2012 Posts: 1,182
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@Obar, If that's how you do you maths and projections, i doubt your plan will hold.
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Rank: Veteran Joined: 11/17/2009 Posts: 2,038 Location: GA
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Obar1 wrote:@madollar: The business plan has been looked at by 3 independent financial professionals. The financial bit was actually drafted by them. its seems you have really done your homework on this even engaged professionals .The question now with those kind of numbers/profits why is no one willing to fund you.
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