Best Ideas 2020 features all the nominated entries submitted under ‘Submit your Idea’ category. All the entries consist of innovative solutions or propositions for an enterprise that champions the Sustainable Development Goals. They can be on the conceptual, planning, or start-up stage.
Farm in the City
Explain your idea in details:
The business will be an online shop for farm produce, although customers will be able to also order via a phone call or WhatsApp message to the business line. We will purchase our supplies from local farmers and transport them to our store, from where we will deliver to customers as they order. We intend to source our supplies from different parts of the country where they are mostly affordable. We will offer speedy and affordable delivery to customers and in addition to this a customer can tell us exactly what time she wants a product delivered. We will start at the urban areas where food is mostly costly and where the average person is a corporate worker, who needs to save time, stress and get their items when they need it. About more than half of the average population in these communities are people that have no cars and the main markets are not be very accessible neither are they very affordable. We will lease delivery vehicles instead of using courier service, as the fees for courier is relatively high and we can lessen it, yet make profits on even the delivery alone. Our main source of profits will be getting produce at a very cheap price and marking it up to cater for our business expenses and significant profits. But the it will still be cheaper than what the customer can get in market. It's worthy of note, that we'll be only storing up non perishable items, while we will source for perishable items from the most affordable markets close to us. As we grow, we will be able to predict the amount of perishable items we can buy weekly according to the statistics, thereby enjoy economies of scale and increase profits. We will continue to expand to other areas.
Expected impact of your idea on sustainable development
Our target market are areas where food items are costly in Nigeria, one of the costliest is Abuja, hence we will start at the metropolitan areas of Abuja. Our target market are: mostly middle aged, mostly females, mostly low income and middle income earners, mostly internet savvy, mostly people who like to cook their own meals, mostly people who do not have a lot of free time. We plan to serve 15,000 customers in our first year. We also plan to reach more farmers every year, give them access to schemes that will increase their production. We will know how much impact we have made, by measuring how many people still choose to source food produce from elsewhere. We intend to make food the least problem any one can think of in Nigeria. After successfully executing the plan in Nigeria, we will clone the business in other countries in Africa.
Plans for implementation and sustainability
The business model is direct recurring sales. It's estimated that every customer will make an average of 2 orders monthly. Finance source: It will be partly financed through personal savings. But to grow fast, we are looking for Investment partners like: Angel Investors, Grants, Venture capitalist. Customer Acquisition plan: Use of direct sales agents, Social media advertising, Search engine Optimization, Search engine marketing, Viral marketing, Blog mentions. Customer retention plans: Customer check-in calls Customer survey and feedback, Discounts and loyalty points, Referral incentives, Customer contests and special offers, Email marketing.
I'm 25years old. I studied and practice accounting. I'm professionally certified by ICAN. However, since my last days in University, I knew I wanted to be an entrepreneur so much that at a point I felt I should have studied that instead of accounting. I have ventured into more than 3 businesses. Some were successful, some weren't. I'm in currently in a stage of studying as much as I can about business and practicing it. I worked at a start up that started in Uganda and has successfully cloned the Kenyan and Nigerian market. This gave an insider view and experience with start-ups on a large scale. As a guy, I like to cook my own food, I was raised to do this and I have embraced it as ever since my early teenage years. However, I know that there are times when you just feel ripped off by the unfair prices of market traders and other times you're too busy to go to the market though you need to. On some other days, you just dread the carrying about of your shopping bags, sometimes in a bid to save money you ignore uber and take the difficult route of enslaving your poor arms. When you put all these together it takes a lot to actually shop and cook, especially on the same day. The stress, time wasted and inability to immediately justify that shopping by cooking, is not worth it if there was some one you could trust to deliver to you quality and affordable farm produce, speedily and conveniently. That person is Farm in the City.