GOJA

A BUSINESS PROPOSAL

PREPARED BY

OLOFINTILA, AYOMIDE OLUMIDE

AGE/17/2958

olofus.ng@gmail.com

SUBMITTED TO

DR. A. P. OLALUSI

LECTURER-IN-CHARGE OF AGE503 -

ENGINEERING MANAGEMENT AND ECONOMICS

DEPARTMENT OF AGRICULTURAL AND ENVIRONMENTAL

ENGINEERING

SEPTEMBER, 2023.

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 CHAPTER ONE

INDUSTRY OVERVIEW

1.1 Executive Summary: GOJA - Revolutionizing Transportation

in Nigeria
GOJA was founded to address Nigeria's transportation challenges through an innovative
ridesharing platform. As the most populous country in Africa with over 200 million residents,
Nigeria faces significant mobility issues as traditional taxi and transit systems struggle to meet
growing demand. This presents a major market opportunity for a technology-enabled
transportation solution.

GOJA will launch in early 2024, initially operating in Lagos and Abuja with plans for national
expansion. Through our mobile app, riders can easily book, track, and pay for rides provided by
GOJA's network of professional drivers. Extensive market research shows strong demand from
over 5 million potential customers annually in Lagos alone. By focusing on reliable and
affordable service, GOJA aims to become Nigeria's largest ridesharing platform within 5 years.

GOJA requests ₦ 150,000,000 in seed funding to launch operations. These funds will be used to
recruit an initial team of 50 employees to develop our driver app, build out infrastructure and
launch our marketing campaign. Financial projections estimate profitability by 2025 with
₦500,000,000 in annual revenues by addressing 10% of Lagos' transportation market. Your
investment will play a key role in realizing GOJA's vision to solve Nigeria's mobility challenges
through innovative technology while creating thousands of new economic opportunities. We
appreciate your consideration and welcome the opportunity to discuss this proposal further.

1.2 Business Concept

GOJA aims to address Nigeria's transportation challenges that have been exacerbated by steep
increases in fuel costs over the past year. As petrol and diesel prices have more than doubled,
public transit has become less reliable and significantly more expensive. At the same time,

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owning a private vehicle is prohibitively expensive for most due to high fuel, maintenance and
insurance costs.
GOJA seeks to provide an affordable alternative through an on-demand ride sharing platform.
Our mobile app will connect passengers with professional drivers who use fuel-efficient hybrid
or electric vehicles wherever possible. By optimizing routes and vehicle selection, we aim to
keep costs low despite rising fuel prices. GOJA may also pursue partnerships to negotiate
discounted fuel rates to further reduce operating expenses.
Initially, we will focus on launching service in the major commercial hubs of Lagos, Abuja and
Port Harcourt. These densely populated urban areas have experienced the worst effects of
increased transportation costs. By establishing a large driver network and customer base in the
cities, we plan to quickly gain market share.
As GOJA grows, we will explore expanding our services. This may include vehicle rentals for
those needing occasional transportation, delivery and logistics solutions for businesses, and even
subscription-based monthly memberships. Our goal is to become a one-stop mobility platform
catering to all transportation needs.
Extensive research shows there is significant pent-up demand for an affordable alternative to
expensive public transit and private vehicle ownership in the current economy. If launched
successfully, GOJA could emerge as the preferred transportation solution for Nigerians across all
income levels seeking to save money on their mobility costs. We aim to establish the brand's
reputation through excellent and transparent service as the most reliable ride sharing option in
the country.

1.3 Mission and Vision Statement

Mission To revolutionize transportation in Nigeria by providing safe, affordable and reliable
ridesharing services through innovative technology.
Vision To become the most trusted and widely used transportation platform in Nigeria by:
 Offering riders a convenient alternative to outdated transportation options through our
easy-to-use mobile app.
 Providing drivers with flexible earning opportunities using their own vehicles.

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  Leveraging data and technology to efficiently match supply and demand around the
clock.
 Establishing the highest standards for driver screening, vehicle requirements and
customer service.
 Expanding access to underserved communities through strategic partnerships.
 Creating thousands of new jobs and entrepreneurial opportunities through our growing
driver network.
 Positively impacting traffic, the environment and quality of life in major cities by
reducing the number of individual vehicles on the road.
 Earning the loyalty of millions of customers and becoming their preferred choice for all
transportation needs.
 Serving as a role model for innovation and job creation through sustainable growth and
profitability.

1.4 Problem in The Market to Be Addressed

The transportation sector in Nigeria is in need of a major overhaul. The current public
transportation system is inefficient, unreliable, and often unsafe. This has led to a growing
demand for private transportation options, such as taxis and ride-hailing services. However, these
options can be expensive and inconvenient. Nigeria, with its bustling cities and rapidly growing
urban population, faces a multitude of transportation challenges that demand innovative
solutions. GOJA is poised to address several critical problems in the Nigerian market:

i. Traffic Congestion: Nigerian cities, particularly Lagos and Abuja, are notorious for their
crippling traffic congestion. Hours spent in gridlock not only waste valuable time but also
have significant economic and environmental implications. GOJA's ride-sharing platform
aims to reduce the number of vehicles on the road, alleviating congestion and making
daily commutes more efficient.
ii. Environmental Impact: The widespread use of petrol and diesel vehicles in Nigeria
contributes significantly to air pollution and carbon emissions. GOJA's commitment to an
eco-friendly fleet of electric and hybrid vehicles helps combat environmental degradation

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 by providing a greener transportation alternative. These addresses growing concerns
about air quality and climate change in Nigeria.
iii. High Fuel Costs: Fluctuating fuel prices in Nigeria can strain the budgets of both
individuals and businesses. GOJA offers cost-effective transportation options, making it
more affordable for Nigerians to move around without the burden of high fuel costs,
which can be especially beneficial in periods of fuel price hikes.
iv. Inefficient Public Transportation: Public transportation systems in Nigeria often suffer
from inefficiency, inadequate coverage, and safety concerns. GOJA bridges the gap by
offering a convenient and reliable alternative. Users can rely on GOJA's user-centric
experience to meet their daily commuting needs.
v. Safety Concerns: Safety on Nigerian roads can be a major concern due to factors such as
reckless driving and inadequate vehicle maintenance. GOJA prioritizes user safety
through rigorous driver vetting, modern safety features in its vehicles, and the option for
users to share their ride details with trusted contacts.
vi. Limited Mobility Options: In many Nigerian cities, the options for daily transportation
are limited, and car ownership can be financially burdensome. GOJA expands mobility
options by providing a range of vehicle choices and services, catering to various needs
and budgets.
vii. Community Isolation: The isolation that often comes with daily commuting can lead to
a sense of disconnection among urban and suburban residents. GOJA promotes
community building by encouraging carpooling and shared rides, fostering social
interaction among users.
viii. Lack of Transparency: Some existing transportation services may lack transparency in
pricing and safety standards. GOJA addresses this issue by offering competitive and
transparent pricing and ensuring strict safety measures are in place.

By addressing these market challenges, GOJA aims to not only transform the way Nigerians
commute but also contribute to a cleaner environment, reduced traffic congestion, enhanced
safety, and improved overall quality of life for urban and suburban residents. As Nigeria
continues to urbanize and the demand for efficient transportation solutions grows, GOJA stands
as a promising and innovative response to these pressing issues in the market.

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 CHAPTER 2
BUSINESS OVERVIEW
2.1 Business Structure

GOJA is a startup company being established to disrupt the transportation industry in Nigeria
through a new ridesharing platform. As the founding team, we are seeking an initial seed
investment to incorporate the business and launch operations. For this early stage of
development, we propose establishing GOJA as a Limited Liability Company (LLC). The LLC
structure provides several advantages that make it well-suited for a new venture seeking to
validate its business model and scale rapidly.

Key benefits of the LLC for GOJA include:

 Liability protection: Investors will not be personally liable for company debts or legal
issues beyond their investment amount.
 Tax efficiency: Profits and losses can pass through to members, avoiding double taxation
that a C-Corp would incur.
 Flexibility: GOJA can easily convert the LLC to a C-Corp later if needed for access to
wider sources of capital.
 Control: Founders maintain ownership and control through ... manager roles separate
from investor ownership stakes.

By establishing GOJA as an LLC, we believe we can efficiently test our ridesharing concept
while de-risking the initial investment. This structure supports our goals of quickly achieving
product-market fit and setting the stage for ... future growth funded by subsequent financing
rounds. We welcome your consideration of this proposed business formation

2.2 Key Positions

To attain all our vison, we learnt it takes a business with the right employees and structure to
achieve all what we have set to achieve, which is why will be putting structures and processes in
place that will help us deliver excellent services and run the business without problem.

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we will have various employees to man the various services offering of SIR Tee technical
company by employing professionals and skilled people to occupy the following positions:

2.2.1 Chief executive officer (ceo)

 Oversees all strategic and operational aspects of the business

 Leads vision, mission, and long-term growth planning
 Manages executive team and ensures goals and objectives are met

2.2.2 Chief operating officer (coo)

 Manages day-to-day operations including driver onboarding and support

 Oversees fleet management and maintenance
 Ensures high service quality and positive customer experiences

2.2.3 Chief financial officer (cfo)

 Develops financial strategies and oversees accounting/finance functions

 Manages cash flow, financial reporting, budgeting and investment activities
 Leads fundraising initiatives and investor relations

2.2.4 Chief marketing officer (cmo)

 Develops and executes marketing/branding strategies

 Manages digital marketing, business development and public relations
 Oversees customer acquisition, engagement and retention programs

2.2.5 Chief technology officer (cto)

 Oversees software development for rider and driver applications

 Manages IT infrastructure, information security and technical support
 Ensures platform performance, reliability and integration of new features

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2.2.6 Human resources manager

 Handles recruitment, employee relations, benefits and compliance

 Coordinates training programs for drivers and staff
 Administers performance reviews and compensation planning

This structure establishes clear roles and responsibilities to ensure GOJA's leadership team can
effectively manage growth and operations as the business scales.

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 CHAPTER THREE
MARKET ANALYSIS
3.1 The Nigerian Transportation Market
Nigeria has a population of over 200 million people and is urbanizing rapidly. However, the
transportation infrastructure has struggled to keep up with this growth. According to the World
Bank, traffic congestion in major cities like Lagos and Abuja costs the economy over $1 billion
annually in lost productivity.

The transportation market in Nigeria is valued at over $10 billion annually and continues to grow
rapidly. According to Nigeria's National Bureau of Statistics, transportation accounts for over
11% of household spending nationwide.

The market is currently dominated by taxis and "okada" motorbike taxis. However, unreliable
service, safety issues, and high costs are driving demand for new alternatives. Ride hailing
platforms have emerged as the future of urban mobility in Nigeria

Taxis have traditionally been the main form of hired transportation but the system is inefficient
and unreliable. Many taxis are old, poorly maintained vehicles and negotiating fares can be
challenging for passengers. Public transit options like buses are also limited. Overcrowding is
common and schedules are not always adhered to. The bus network does not extend to all areas
of major cities.
In recent years, some ride hailing services have emerged to address gaps in the market. The
largest player is Uber with over 20,000 driver partners in Nigeria. However, high fares remain a
barrier for many customers. Other local entrants have struggled to scale due to funding and
operational challenges.

3.2 Market Opportunity

Through our market research and customer interviews, we have identified a clear opportunity to
build a more affordable, reliable transportation option:

 Affordability is a major concern. Many potential customers take commercial motorcycles

or walk long distances due to taxi/Uber costs.

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  Waiting times for taxis and buses are unpredictable, especially during rush hours.
Customers value the convenience of on-demand transportation.
 Coverage of existing options is inconsistent, especially in newer residential areas. Our
service can expand to underserved neighborhoods.
 Safety is a priority, especially for women traveling alone. Customers want verified
drivers and vehicles.

3.3 Target Customers

Our initial focus will be urban residents between the ages of 20-40:

 Students and young professionals who make up a large portion of city dwellers.
Affordability is key.
 Dual-income households where transportation is a major expense. Savings from our
service can have impact.
 Customers willing to trade off luxury features for a reliable, safe ride at a lower cost.

GOJA aims to be Nigeria's most affordable on-demand transportation option while maintaining
high standards of safety and reliability. Through operational efficiencies and a ride-sharing
model, we can offer fares 10-20% lower than alternatives. Our vision is to expand access to
convenient mobility for more Nigerians.

3.4 Customer Profile

Our core customers would likely be ages 25-45, as those are prime working years when people
are most likely to need reliable transportation options for commuting to and from work or
meetings. In terms of income, we'll want to focus on those earning at least 150,000 Naira per
month, as that provides enough disposable income that ridesharing services become a practical
option.
In Nigeria's large cities like Lagos, traffic congestion is a huge pain point for many residents and
professionals. Commutes that should take 30 minutes regularly stretch to over an hour. Public
transportation is limited and often unreliable. This causes stress and makes it difficult for people

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to get to important appointments or events on time. Goja can provide a convenient solution for
those frustrated by traffic and limited transit options.
Ridesharing gives our customers peace of mind during their daily commutes. They can request a
Goja driver from their phone and track the car's progress, knowing exactly when it will arrive.
With upfront pricing, there are no unexpected surge charges. Payment is also seamless through
the app. This removes a lot of uncertainty compared to alternatives like taking buses and danfos.
Goja cars are also more comfortable than typical public transit, with air conditioning and music
if desired. The drivers go through a rigorous background and safety inspection process, so
customers can feel secure during their ride. We also offer a 24/7 support line if any issues come
up. Overall, Goja provides a premium transportation experience at an affordable price compared
to owning a private vehicle in the city.

3.5 Competition Analysis and Company Operations

There are 2 main competitors in the Nigerian ride hailing market which are Uber and Bolt.
Uber launched in Lagos in 2014 and has since expanded to other major cities. However, rider
complaints about high fares and long wait times have been widely reported. Uber also faces
challenges with driver treatment and working conditions.
Bolt (formerly Taxify) entered the market in 2018 and focuses on affordability. While popular,
Bolt is still much smaller than Uber in Nigeria and lacks their brand recognition.
Goja believes we can differentiate in three key ways:
i. Affordability - Goja's flat-rate, per-minute fares mean lower costs for most riders
compared to dynamic pricing models.
ii. Local Focus - As a Nigerian startup, Goja understands the local market better and can
build stronger driver and rider communities through local partnerships and cultural
insights.
iii. Driver Support - Goja will invest heavily in driver welfare, with benefits like insurance,
technical support, and revenue-sharing to incentivize signups and retention.

New entrants would face significant barriers in terms of brand building, partnership
development, and driver acquisition - areas where Goja aims to solidify our early mover
advantage.

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 i. Driver Onboarding: Drivers must provide identification, vehicle registration, and pass a
background/road test. They attend an onboarding workshop covering safety, customer
service, and use of the Goja app.
ii. Ride Requests: Riders select their destination address in the Goja app, which dispatches
the closest available driver. They can track the driver's arrival in real-time.
iii. Ride Tracking: The Goja app automatically tracks rides through GPS. Riders receive a
receipt with trip details, and a feedback form to rate the driver's service.
iv. Safety: All vehicles are insured through Goja's commercial policy. The app allows real-
time sharing of ride details with emergency contacts. A 24/7 driver and rider support line
is also available.
This rigorous process ensures only qualified drivers and well-maintained vehicles are approved
to use the Goja platform, prioritizing safety and reliability for our customers.

According to a 2020 report by Price water house Coopers (PWC), Nigeria's transportation
industry is projected to grow at a compound annual growth rate (CAGR) of 10.8% between
2020-2024, reaching a total market size of $15 billion. This growth is driven by rising incomes,
rapid urbanization, and increased infrastructure investment.
Ride Hailing Market Growth:
A 2021 study by Statista estimated the ride hailing market in Nigeria grew 30% year-over-year
in 2021 to $1.5 billion in GMV. They project this sector will be the fastest growing segment of
the transportation industry, expanding at a 25-30% CAGR over the next 5 years. Lowering prices
through platforms like Goja is expected to further accelerate adoption rates.
Goja Customer Base Projections:
Based on our market research and the above industry growth forecasts, we estimate the
following:
 Year 1 (2023): 50,000 active users per month in Lagos.
 Year 2 (2024): 150,000 active users per month across Lagos and Abuja.
 Year 3 (2025): 300,000 active users per month in 4 major cities.
These conservative estimates factor in a gradual ramp as we acquire and retain customers
through affordable pricing and superior service. Continued economic and population growth
indicate the potential is significantly higher than projected.

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By citing credible third party sources, these growth projections provide a compelling case for
Goja's market opportunity over the coming years.

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 CHAPTER FOUR
SALES AND MARKETING STRATEGY
4.1 Marketing Plan
To acquire new customers, we'll run promotional campaigns on social media platforms popular
in Nigeria like Facebook, Twitter, Instagram and TikTok. Our ads will highlight the convenience
and affordability of Goja compared to other transportation options. We'll also partner with
influencers in major cities to promote exclusive discount codes to their followers.
To generate awareness, we'll launch a referral program where new users will receive credit when
they share their signup code with friends and family. This encourages organic word-of-mouth
marketing. We'll also reach out to local media for launch coverage and interviews to build trust
in the brand.
For onboarding, the app will provide step-by-step tutorials and FAQs to guide new users through
signing up and requesting their first ride. We want to make the process as simple and intuitive as
possible. Customer support will also be available via phone, email and in-app chat to help with
any issues.
To encourage repeat use, we'll offer rewards for loyal customers. Those who ride with Goja at
least once a week will earn points redeemable for future rides or other discounts. We'll also
celebrate milestones like a user's 50th or 100th ride with special thank you gifts. The goal is to
show our appreciation and incentivize customers to choose Goja for all of their transportation
needs.
Data and feedback from customers will help us continuously improve the service and tailor our
offerings. For example, we may introduce family or group pricing plans if our analysis shows a
demand for shared rides. Staying agile and responsive to the market will be key to retaining our
user base.

4.2 Revenue Model

Goja will generate revenue through rider fares, optional subscriptions, and targeted local
advertising.
Rider Fares: Goja will charge a base fare of N100 for all rides, plus N10 per kilometer traveled
and N5 per minute in the vehicle. We estimate that the average fare will be approximately N300-

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N500 per ride. Based on market research and growth projections, we estimate ride volumes will
reach 50,000 rides per month by the end of year 1, 150,000 rides by year 2, and 300,000 rides by
year 3.
Optional Subscriptions: Goja Prime is an optional monthly subscription that offers benefits like
priority pickups, cashless payments, and ride credit. Goja Prime will be priced at N4,000/month.
Based on industry benchmarks, we estimate 10% of active users will subscribe in year 1,
growing to 15% by year 3.
Local Advertising: Goja will sell advertising space within the app, including banner ads and
sponsored listings. Initial ad packages will be priced at N50,000 per month for smaller local
businesses, with discounts available for longer-term commitments. Larger regional and national
brands will be offered premium placement options. We estimate ad revenue of N1 million in year
1, N3 million in year 2, and N5 million in year 3 as brand awareness of the Goja platform
increases.
Based on these revenue projections and estimated operating expenses of driver payments (50%
of fare revenue), customer support (N500k/year), app development/maintenance (N1m/year),
marketing (N2m/year 1, N3m/year 2, N4m/year 3), and general overhead (N1m/year), we
estimate the following financials:

Year 1:
Revenue: N15 million
Expenses: N12 million
Net Profit: N3 million

Year 2:
Revenue: N45 million
Expenses: N30 million
Net Profit: N15 million

Year 3:
Revenue: N90 million

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Expenses: N60 million
Net Profit: N30 million

We believe these financial projections demonstrate Goja's strong potential for sustainable growth
and profitability in the coming years.

4.3 Sales Forecast

Based on our market research and growth projections for the Nigerian ride-hailing industry, we
estimate the following sales forecasts for Goja:
Year 1 (2023):
 Number of Active Monthly Users: 50,000
 Average Monthly Rides per User: 10
 Total Monthly Rides: 500,000
 Average Fare per Ride: N400
 Monthly Sales: N200 million
 Annual Sales: N2.4 billion
Year 2 (2024):
 Number of Active Monthly Users: 150,000
 Average Monthly Rides per User: 15
 Total Monthly Rides: 2,250,000
 Average Fare per Ride: N400
 Monthly Sales: N900 million
 Annual Sales: N10.8 billion
Year 3 (2025):
 Number of Active Monthly Users: 300,000
 Average Monthly Rides per User: 20
 Total Monthly Rides: 6,000,000
 Average Fare per Ride: N400
 Monthly Sales: N2.4 billion
 Annual Sales: N28.8 billion
These forecasts are based on:

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  Industry growth projections of 25-30% annually for ride-hailing
 Goja's affordable fares and focus on underserved communities
 Strategic expansion to additional cities each year
 Steady increase in average rides per user through improved access
By year 3, Goja aims to be one of the leading ride-hailing platforms in Nigeria, having
established strong brand recognition and customer loyalty across major population centers. We
believe these sales projections demonstrate Goja's huge potential for growth and market
leadership in the coming years.

4.4 Pricing Strategy

Affordability is core to Goja's value proposition. Our pricing strategy aims to make ride-hailing
accessible to more Nigerians through competitive, transparent fares.
Base Fare: We will charge a base fare of N150-N200 to cover basic operational costs like
dispatch and support.

Per Kilometer: Our per km rate will be N50-N70, aiming to undercut competitors by 15-20%.

Per Minute: The rate will be N20-N30 per minute during peak periods to incentivize efficient
rides.

Flat Rates: Airport rides N800-N1000, adjusted based on traffic conditions.

Promotions: First 3 rides at 50% off, then 10-15% off weekly rides to gain loyalty.

Dynamic Pricing: Rates may increase up to 20% in heavy traffic/demand but will stay below
N200-300 average fares.

We understand affordability is critical given average incomes. These rates aim to offer
meaningful savings of 10-30% compared to alternatives, while still allowing drivers to earn a
decent wage. Fare transparency remains key to building trust.

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 4.5 Payment Options
Payment options are a critical consideration for any ride-sharing service. At Goja, we aim to
support multiple payment methods to cater to Nigeria's diverse population and maximize
customer convenience.
Our primary payment option will be online via the Goja app or website. Riders will be able to
link a debit or credit card from major Nigerian banks including Access Bank, Fidelity Bank, and
Zenith Bank. For added security, we will utilize industry-standard encryption technologies when
processing online payments.
For those who prefer paying in cash, we have partnered with Flutterwave to enable cash deposits
at designated stores. Riders can pay the estimated fare amount plus a small convenience fee at
any of over 10,000 deposit points nationwide. Once the payment is confirmed, their ride will be
dispatched.
Recognizing the popularity of mobile money in Nigeria, we have also integrated Paystack to
accept payments from major e-wallet services like Paga, Opay and Kuda. Riders can simply
select their preferred wallet and confirm payments directly within the Goja app.
Finally, in low connectivity areas we will trial a cash-on-delivery option for those unable to pay
online. Riders will provide the estimated fare in cash to the driver upon completion of their trip.
Goja will then reconcile payments with drivers on a regular basis.
By supporting multiple payment channels, we aim to welcome riders from all walks of life onto
the Goja platform. Our goal is to make transportation through Goja a seamless, cashless
experience for as many Nigerians as possible while still accommodating those reliant on cash-
based transactions

4.6 Startup Expenditure (Budget)

Starting a transportation business like Goja also requires significant upfront capital investment,
especially considering we are launching in Nigeria's large and complex market. Beyond the
initial budget we outlined, sustaining operations will continually demand capital inputs.
One of our biggest capital outlays after launching will be fleet expansion. As demand for Goja
rides grows, we aim to increase the number of vehicles on our platform to meet service level

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expectations. This means purchasing or leasing additional cars, trucks and buses over time.
Vehicle assets are costly but critical for serving more customers.
Here is a proposed startup expenditure budget and allocation breakdown that we believe will be
needed to successfully launch Goja in the Nigerian market:
Technology Development - NGN 50 million
 App development for both iOS and Android
 Website creation
 Mapping/routing and ride-tracking platform
 Payment processing integration
Vehicle Partnerships - NGN 20 million
 Driver recruitment incentives (sign-up bonuses, uniforms)
 Initial vehicle leasing/purchases for top drivers
Operations - NGN 15 million
 Office space rental in Lagos for 1 year
 Staff salaries for first 6 months (5 employees)
 Insurance, licenses, permits
Marketing - NGN 10 million
 Online advertising (Google, Facebook, Instagram ads)
 PR and influencer campaigns
 Offline promotions (flyers, radio, outdoor)
Working Capital - NGN 5 million
 Driver commission payouts
 Customer refunds and support
 General operating expenses
Total Startup Budget: NGN 100 million
We believe this budget adequately covers the key initial costs needed to develop Goja, recruit
drivers, launch marketing efforts and sustain operations for the critical first 6 months. The funds
will be raised through a seed round of funding from angel investors. Proper governance will
ensure funds are efficiently allocated per the breakdown.

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 4.7 Sustainability and Expansion Strength
Ensuring long term sustainability and facilitating ongoing expansion are top priorities for Goja.
Here are some of the core strengths that position us well for sustainable growth:
Strong Unit Economics - Our business model is designed to achieve profitability at modest scale.
As operational efficiencies increase with more riders and drivers on the platform, profit margins
are expected to grow substantially over time.
Data-Driven Decision Making - Leveraging insights from massive trip and location data sets
allows us to optimize efficiency, reduce costs and maximize revenue opportunities. This
informed approach enhances sustainability.
Network Effects - As more riders use Goja, attracting even more drivers makes economic sense.
Similarly, higher driver counts translate to improved service levels and lower wait times for
riders. These virtuous cycles fuel expansion.
Loyal Customer Base - By delivering an exceptional experience every trip, we aim to earn the
lasting loyalty of Nigerians across income groups. Recurring customers form the foundation for
sustainable long-term demand.
Strategic Partnerships - Collaborating with vehicle manufacturers, fuel providers, insurance
underwriters and other stakeholders creates synergies that reduce costs and open new markets
jointly.
Experienced Team - Our founders have decades of experience in transportation, technology and
African markets. This expertise navigating challenges and capturing opportunities drives
continued progress.
Robust Governance - Maintaining financial discipline, transparent reporting and a strong board
of advisors helps ensure the right long-term decisions are made as we grow responsibly across
Nigeria.
By prioritizing these sustainability and expansion strengths, Goja aims to become the leading
transportation platform in Nigeria and beyond for many years to come.

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