Na-U-Next Salone Mobile Retail Truck
Explain your idea in details:
The key objective of Na-U-Next Salone is to ensure food security among the low income household customers. Since cash flow in these household is typically uneven and unable to cope with shocks. In case of income shock, the immediate impact tends to be restriction on their spending on food items. We seek to provide a cushion of food security for its beneficiary households. customers expect to make a savings around 8–10 % on their purchases from truck. Households are provided an interest-free monthly rolling credit of Le150,0000 which they may dip into in times of emergency. This cost saving is delivered by leveraging the power of aggregation amongst the weaker and lower income households. Our process flow includes: • Low income household members may enroll into the scheme by paying Le 2000 to under Na-U-Next Salone as membership fee. • Every member is provided a card bearing customer number which enable them to benefit from scheme. • Using the card for a retail format is found nowhere in this region and this facility is unique and first introduced by Na-U-Next Salone. • Households interested in availing the rolling credit facility is required to submit a completed Promissory note. Once credit is approved for the household, a credit limit Le75000- will be set for the member. • The member may walk into the store and purchase by showing their card. They may choose to pay cash or avail of the credit facility. The credit amount needs to be paid at the store within 1 month. • We keep close to 50% (product lines) consider as staples in Sierra Leone. Our main focus is on Food security and thus we focus more on rice and staples. (as 60% to 70% business comes from this category)
Expected impact of your idea on sustainable development
The slogan of Na-U-Next Salone Mobile Retail state: “Food security, Security for all” speaks volumes of the ambitious social impact we intend to create. National statistic breakdown the 3.5 million food insecure Sierra Leoneans into: 7% severely food insecure, 36% moderately food insecure and while 42% marginally food insecure, The lasting legacy Na-U-Next Salone intend to create when we would have started full operations in Sierra Leone, are outline as fellows; • 6months-1.5 years: transform around 15% of households’ food insecure situation to an acceptable level let say to at least moderate level. We aim to achieve this by encouraging them to register with our scheme which in turn give the priority access to the utilization of our products and services. • 2-3 years: we hope to gradually build on this figure to 20% through expansion of operation in other communities who need the same service. • 4-5 years: we hope to repeat the success of 2-3 year. Outline of these success factors will be review in accordance with yearly operational strategic plan and country specific situation until food secure is at acceptable level.
Plans for implementation and sustainability
Our marketing initiative primarily aim at selling staple food items to low-income households, thus we are applying business to customer (B2C) model to serve this. The why reason these low-income customers will buy our products is because of these compelling benefits: customers expect to make a savings around 8–10 % on their purchases from our truck. These households are provided an interest-free monthly rolling credit of Le75,000 which they may dip into in times of emergency. We have advantage over our competition because of this sustainable competitive advantage. The business will become profitable at the second year of operation in 2019 by selling 46,200 basket of staples to 8.5% of target customers. Na-U-Next Salone is going to sell directly to customers via our mobile truck at a price of $3 per basket of staples and at cost of $1.2 for each customer we acquire. At that point our revenue run rate will assume be around $138,600 annually. The business is able to maintain the competitive advantage because these benefit and in addition we have an agreement our suppliers to handle most our key processes. For instance, all products are brought in bulk, packed and labelled by the suppliers. Our supplier’s agreement also allows us negotiates for better products and price. As we are able to negotiate better terms with our suppliers and able to get excellent deals on price we will eventually pass these on to its clients.
Nyanje Konneh is the Founder and CEO of Na-U-Next Salone. She was born in Freetown, Sierra Leone on 9th November, 1987. She is happy marriage with with one son. In 2012 Nyanje graduated with a bachelor degree in Business Information & Technology from Njala University. She over 4years in retail business experience. She is currently managing Jem Salone small corner which she is planning to change to Na-U-Salone. She also served as the Sales Supervisor of Camptoko Group a company that sell cooking condiments.