FASTBROKER

ADDRESS: HQ – ADDIS ABABA,ETHIOPIA

EMAIL: fastbroker@gmail.com
PHONE NO: 0940308517

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EXECUTIVE SUMMARY
Fast broker is an online brokerage website located in Addis Ababa, Ethiopia. It is
founded by four partners to facilitate the transaction of good and services
between clients and customers through our platform. The basic idea is clients
register for our site and offer their products with clear description and price, then
customers who are interested in the products bid for the item and we facilitate
the transaction earning a percentage form the sell.

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THE BUSINESS

VISION

 Digitalize the old Ethiopian brick and mortar system of brokerage with
websites like ours.
 To become the leading online brokerage system with cutting edge
technology.
 We strive to make the process of buying and selling simpler and more
transparent.

MISSION

 Create a platform to serve clients and customers by putting their financial

well-being first.
 Providing clients and customers with their unique needs.
 By being reliable brokers for our clients, customers and our market.
 Reducing risk of buying unreliable products through an efficient manners.

OBJECTIVES

 We aim to create convenient, fast, reliable and low cost transaction and
solve customers’ inconvenience of having to contact traditional brokers and
trusting them with their time.

VALUES

Our core values is:-

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“We stand for customer-centered business that focuses on innovation, fairness and
determination to accomplish a task”

MARKET ANALYSIS

 Our target markets are the following:-

 Consumers who want to sell their day to day items like phones, laptops
etc…
 Growing micro enterprises like leather product manufacturers, small
household item manufacturers.
 Businesses who want to sell a bulk of items for several customers like a
specific shoe brand, electronics brand and clothing brand.
 Special individuals who want to auction there valuable items like art
work, watches and so on.
 Competitive analysis
Since, this company will be established inside Ethiopia, our competition will
probably be in Ethiopia .most online businesses currently in the country
have little to no competition. The reason for this is most businesses in
Ethiopia don’t see the online market as an opportunity .but we see there is
potential in our country especially in the coming future.
Therefore, currently we don’t see any huge company that is operating in
our area there are some like “quefira.com” but they are not big yet. So it is
right to say we could create a new market that soon will be filled by
successive companies.

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PRODUCT DESCRIPTION

Our product is a platform that gives clients (which are those individuals who want
to sell goods and services) and customers (which are those individuals who want
to buy the goods and services) a way to negotiate between prices and we will
facilitate the transaction through our well designed website and each entity will
get what they want.

The site will have a page for clients to post there items with brief description of
the item and there preferred price and customers who sign up for the site will
search for any item they desire and send a request with their preferred price , if
the client accepts the price we proceed them through our shipping and payment
stage. And if the transaction is successful we will take a percentage commission
from the transaction that is how the business generally works.

Key features of our services

 Rating system:- we will have a score system that is given to clients from
customers every time they buy from a client . so the client with higher
ratings will be more trusted and those with low will not be trustworthy. this
creates a trust relationship with client and customer.
 Bidding system:- if several customers want the same item they will have to
bid and win.so the bidding system will provide that.
 Payment and shipping :- when customers get accepted by sellers , our
shipping procedure will take the item from clients and ship it to customers ,

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 the payment will be online through different outlets like Telebirr ,CBE and
so on (in the future we will also have our own payment system.)
 Buyer and seller account: - at first customers will sign up as a buyer to
access buyer privileges and clients will provide enough information and sign
up as sellers to access the seller privileges like price setting, product setting,
shipping setting and payment setting.
Future features
 AI based recommendations: - we will also have an artificial intelligence
program that recommends customers their desired product based on their
previous experiences.

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MARKETING PLAN

Every marketing plan should include the 4p’s product, place, promotion and price.
Therefore:-

 Product: - our product like mentioned above is online website that

connects potential buyers with sellers of different kind and facilitating the
middle work.
 Place: - since it it is an online business our existence will be in the virtual
space. But we will also have real appearance through our delivery system.
 Promotion: - our website will be promoted through Google AdSense
program, Facebook, YouTube and also local media’s like radio station and
TV but our main promotional work will focus on digital marketing.
 Price: since we are the middle men in this business the price decision will
not be ours. But during the transaction process we will take a percentage
depending on the amount of the transaction.

OPERATIONAL AND ORGANIZATIONAL PLAN

To operate this business we need:-

 Software developers to build the site

 Labor workers for moving sold products for delivery
 Management team for software production, quality assurance and
deployment

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  A CEO to plan the future goal of the business
 A legal team for any legal issues that could arise

FUNDING REQUIREMENT

 Source of fund: our plan is to get a starting capital(fund) from various

source namely, investors who see the potential , bank loan (if possible),
crowd funding( using several people’s money to support the business via
internet)
 Fund management: most of the fund will go through supporting our
software production, and implementing some big features like AI in our
system. Besides that it will be used in the delivery system that we intend to
have since it needs inventory warehouse and vehicles; the funding will be
very beneficial.

FINANCIAL PLAN

Our income will depend up on the commission we will take by processing a

transaction. Our predicted scale for each sale we process is as follows:

 2 % commission on 500-1,000 ETB sale

 4% commission on 1,000 – 10,000 ETB sale
 6.5% commission on 10,000 – 100,000 ETB sale
 8.8% commission on 100,000 – 1,000,000 ETB sale
 14.9% commission on 1,000,000 – up ETB sale

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Based on the above scale if we get on average 100 sellers per week with average
sales of 2000ETB per week, we will net a revenue of 800,000 per month.

We project that our profit will be between 200,000 – 350,000 , since we are just
starting losses will be expected.

Most of the profit will be reinvested back in to the business to grow it further
since our site has a high chance of growth the above numbers will probably
increase.

For our future financial plan we will try to include the features that could increase
our gains. For example a subscription service in which clients pay monthly; so,
that they get the benefit of having more buyers of the product since we will
promote more of their product to high number of buyers than the non-paying
sellers.

CRITICAL RISKS

Risks involved in our business could be classified in to:-

 Not having the trust between clients and buyers

 Awareness of the business in the public
 Client’s not delivering the product they post
 Cost of shipping

So all this are the main risks that we predict we will face in our pursuit of
innovation and business.

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APPENDIX

This company is owned by a group of four partners with the same vision and goal.

The ownership agreement is as follows:

 Member owns 30% share

 Member owns 20% share
 Member h owns 20% share
 Member w owns 12% share.

The rest will be available for investors on negotiation and the agreement is
subject to change.

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THANK
YOU

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