- Country: South Africa
- Industry: Internet, eBusiness
- Stage: Start-up
- Investment size: $67,000 / min. $10,000
eTecKnowledgey Audio Books CC is a product based business. The business specializes in the production of educational, business and lifestyle audio books. eTecKnowledgey's mandate is to provide a product that is fun, informative and convenient learning material for the Education System of South Africa. The product is targeted to satisfy and enhance efficiency in students and business people alike.
eTecKnowledgey Audio Books CC is a start-up online store in Northpine, Brackenfell that provides interesting, fun and educative audio books at affordable prices. The purpose of this plan is to acquire start-up capital that will aid eTecKnowledgey Audio Books to introduce and sell the product to the targeted market.
• To provide a wide range of merchandise at reasonable prices.
• To achieve a healthy profit margin within the first year.
• To achieve a modest net profit by year two.
• To be an active and vocal member of the community, and provide continual re-investment through participation in community activities and financial contributions.
Overview of the socio-economic benefits
• Create employment opportunities.
• Create a culture of self-reliance in the student population of South Africa.
eTecKnowledgey Audio Book's vision is to provide an alternative study and learning method that is fun, informative and convenient, whilst creating a culture of self-reliance amongst the student population, and the citizens, whilst increasing the level of education in South Africa and the rest of Africa.
eTecKnowledgey Audio Books provides a variety of interesting audiobook options at reasonable prices. Dedicated to customer service eTecKnowledgey Audio Books will give its patrons the kind of service that is respectful and prompt. eTecKnowledgey Audio Books employees will also be treated in a professional manner with a rewarding work environment and fair compensation.
eTecKnowledgey Audio Books will sell its product via the company website, other sales-orientated websites and our sales staff. We specialise in the production of audiobooks aligned with the education systems curriculum. Customers will also be able to make audiobook purchases over their mobile handsets. When the customer purchases the audiobook via their mobile handset, an email will be sent with the audiobook as an attachment.
Every person with income limitations or on fixed income is a potential customer. Marketing to these segments of the population will lead to an expansion in the overall market growth.
Keys to success
• Sell a broad range of products.
• Provide for the satisfaction of 100% of our customers.
• Be an active member of the community.
• Encourage customer input.
With the financing in place eTecKnowledgey Audio Books will be able to successfully open and maintain operations through year one. The large capital investment will provide the public with a unique and innovative online store that will cater to the needs of those on fixed incomes such as low income families, the elderly, and the large student population in South Africa. The successful operation of the eTecKnowledgey Audio Books will provide a customer base that will allow it to be self-sufficient.
eTecKnowledgey Audio Books will use a strategy of total market service. We produce audiobooks that are aligned with the Education Systems schooling curriculum. Our Audiobooks will range from Grade R to Grade 12 subjects, Tertiary Courses, Business Literature and Self-development Literature.
Our promise is in our location and the products we sell, the people we attract, and the atmosphere we create. We will present an online store that is pleasant to shop in with a large variety of merchandise to choose from.
Ultimately, we are selling more than just merchandise. The website and mobisite is going to sell the business. I want it to provide the kind of customer service that will create an atmosphere that brings a positive shopping experience for our customers.
The website is a very important competitive edge. eTecKnowledgey Audio Books website needs to be fresh, trendy and easy to use. The website will have a search function at the top of the page. The products will appear as a list with small pictures and product descriptions. When you click on the desired product a larger picture and description will appear, the 'buy now' button and price will also appear.
At the bottom of each page with the large description and image, there will be a section which showcases similar products and other products customers bought when they purchased the described product. It will also include good and bad reviews of our products.
Another competitive edge is the price. Most quality audiobooks go for R125 to R150. eTecKnowledgey's audiobooks will range from R100 to R250 and if the customer wants to download a single topic, it will be R1.50 each.
Rationale for the deal
The investor will own 40% equity in the business. I'm only willing to give 40% because I feel that in order for an enterprise to be successful, the staff needs to be motivated. 10% of the business will be allocated to the staff.
Use of financing
Purpose of Finance
As mentioned, with the financing in place eTecKnowledgey Audio Books will be able to successfully open and maintain operations through year one. The successful operation eTecKnowledgey Audio Books will provide a customer base that will allow it to be self-sufficient.
• The recording and narration of the audiobooks will be outsourced to industry professionals, which will be obtained from the VoiceCentral.net databank.
• Hybrid Media will replicate and package 500 discs of each title at R11.32 per unit cost.
• The website will be created by web designers from Kwikweb. The website will also feature a mobile site format. Allowing the customer to purchase through their mobile phones.
• The audiobooks will be uploaded on to the website. The website will not only market but it will be also designed to sell and accept online payments. So the target market can purchase and directly download our products immediately. This form of distribution satisfies 3 key aspects of service delivery namely: Speed, Efficiency and Convenience. This form of distribution will aid us to serve the country from a single location.
• I will hire 5 individuals to sell and market the product on a daily basis at shopping malls around Cape Town. These individuals will earn a basic income of R3000.00 per month and at the end of the financial year they will earn 10% of the profits. This will depend on if they have met the sales targets for the year. My salary will be R5000.00 per month and will earn 10% of the profits at the end of the financial year.
• The business and the products will be advertised in magazines and newspapers. The business profile will be created on Facebook, Twitter, Mxit and Scrollmedia. The business web page link, will feature on all the staffs personal page.
Opportunity for the investor
The investor will be able expand their product or services to the South African Market. This will also enable the Investor to identify the market trends and expansion abilities that South Africa possesses. eTecKnowledgey Audio Books plans to invest in the growth of the education levels in South Africa and the rest of Africa by providing an opportunity for students, aspiring entrepreneur and motivate our country inhabitants and other other african counterpart to invest aids that will inspire their entrepreneurial flames.
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