Very nice idea! I wish you the very best in your plans
Yes i think we can work on the Co-creation hubs in your country all we need is the availability of a facility, skilled hands to carry out the training, female entrepreneurs with particular skill sets like tailoring, hairdressing, weaving, bag making ets, funds to procure the equipment
Educell is a brilliant idea, i wonder how you also came up with the idea its really quite interesting and i wish you the very best in your endeavours. Whatever the outcome of the competition you should keep pushing till you achieve the success you desire
@Victor thanks for the feed back. We would really need to change their mindset to enable them see the big picture. Without that it would be difficult to achieve
@yoke thanks for the feed back. Yes i have identified a training institute and the cost of training would be borne by the social enterprise by getting discounted facilitators or pro bono training. The owners of the centers would also provide the basic financial and business management training required by these women as they are mostly not so highly educated.
Luckily the pilot programme would be handled by the training institute and I am currently working on revising the project.
So basically the social enterprise (to be registered soonest) would be a separate entity from the owners of the centers. This is necessary to enable us scale up and replicate the project without the draw back of fundraising to start up. Apparently there are a few facilities available that would only need a little upgrade in terms of equipment. Once we have demonstrated a proof of concept it would be easy to get people to sign on as well as raise funds to set up new centers for the Women engaged in the centers. Revenue would now be shared in 3 ways but the bulk would still be going to the Women engaged.
So I am considering the following sharing formula. The social enterprise gets 10-15% the owner of the center gets 25-40% to cover operational cost while the Women get 50-60% of the total revenue. The added advantage for the owner of the center is that they could also have their clothing brand manufactured at the centre whilst they would have to pay the standard production cost set out but with the potential to earn additional money on the profit from the production cost to selling price.
Wow this is very interesting I'm definitely going to share your idea with fish farmers in my country. This is really innovative and I am certain your project would be profitable as you have presented a cheaper solution of the same quality. Brilliant!
Wow this is very interesting I'm definitely going to share your idea with fish farmers in my country. This is really innovative and I am certain your project would be profitable as you have presented a cheaper solution of the same quality. Brilliant!
Technical education would always be the driver of any economy. I think you should consider working with companies that may also need the services of the graduated students. So for those that are interested in paid employment the college could actually assist with job placement. Certification bodies may also help in certifying the quality of your graduates. I'm impressed by what you have achieved thus far. Well done!
Brilliant idea! There is need to improve the quality of education in Nigeria immensely. You didn't state the reward for successful participants. I hope you have a great package for them as that would be very instrumental to drive the competition
@Christina thanks for the feedback. Would review the proposal. I'm suggesting crowd funding model because operational costs may be too high for one person to bear and also when you employ people locally they tend to get very relaxed and not caring for the volume of work they are putting in. However, when the cost is shared by one or 2 other persons it lightens the burden also when you engage people and they know they can only earn revenue based on what they produce it would make them sit up especially when other people are doing the same thing or have done the same thing and were successful at it.
Thank you @Oluwagbenga Ogunsanya, the facilities owned by the women would be set up using the same model and equipment obtainable at the incubation centres. The whole idea is to create a model that is replicable and sustainable for participants and beneficiaries. The access of funds would be easier as the women would have a financial track record built over 6 months thereby making them investor/funding ready upon graduation
Comments
Very nice idea! I wish you the very best in your plans
Yes i think we can work on the Co-creation hubs in your country all we need is the availability of a facility, skilled hands to carry out the training, female entrepreneurs with particular skill sets like tailoring, hairdressing, weaving, bag making ets, funds to procure the equipment
Educell is a brilliant idea, i wonder how you also came up with the idea its really quite interesting and i wish you the very best in your endeavours. Whatever the outcome of the competition you should keep pushing till you achieve the success you desire
@Victor thanks for the feed back. We would really need to change their mindset to enable them see the big picture. Without that it would be difficult to achieve
@yoke thanks for the feed back. Yes i have identified a training institute and the cost of training would be borne by the social enterprise by getting discounted facilitators or pro bono training. The owners of the centers would also provide the basic financial and business management training required by these women as they are mostly not so highly educated.
Luckily the pilot programme would be handled by the training institute and I am currently working on revising the project.
So basically the social enterprise (to be registered soonest) would be a separate entity from the owners of the centers. This is necessary to enable us scale up and replicate the project without the draw back of fundraising to start up. Apparently there are a few facilities available that would only need a little upgrade in terms of equipment. Once we have demonstrated a proof of concept it would be easy to get people to sign on as well as raise funds to set up new centers for the Women engaged in the centers. Revenue would now be shared in 3 ways but the bulk would still be going to the Women engaged.
So I am considering the following sharing formula. The social enterprise gets 10-15% the owner of the center gets 25-40% to cover operational cost while the Women get 50-60% of the total revenue. The added advantage for the owner of the center is that they could also have their clothing brand manufactured at the centre whilst they would have to pay the standard production cost set out but with the potential to earn additional money on the profit from the production cost to selling price.
Looking forward to some feedback on this
Wow this is very interesting I'm definitely going to share your idea with fish farmers in my country. This is really innovative and I am certain your project would be profitable as you have presented a cheaper solution of the same quality. Brilliant!
Wow this is very interesting I'm definitely going to share your idea with fish farmers in my country. This is really innovative and I am certain your project would be profitable as you have presented a cheaper solution of the same quality. Brilliant!
Technical education would always be the driver of any economy. I think you should consider working with companies that may also need the services of the graduated students. So for those that are interested in paid employment the college could actually assist with job placement. Certification bodies may also help in certifying the quality of your graduates. I'm impressed by what you have achieved thus far. Well done!
Brilliant idea! There is need to improve the quality of education in Nigeria immensely. You didn't state the reward for successful participants. I hope you have a great package for them as that would be very instrumental to drive the competition
@Christina thanks for the feedback. Would review the proposal. I'm suggesting crowd funding model because operational costs may be too high for one person to bear and also when you employ people locally they tend to get very relaxed and not caring for the volume of work they are putting in. However, when the cost is shared by one or 2 other persons it lightens the burden also when you engage people and they know they can only earn revenue based on what they produce it would make them sit up especially when other people are doing the same thing or have done the same thing and were successful at it.
Thank you @Oluwagbenga Ogunsanya, the facilities owned by the women would be set up using the same model and equipment obtainable at the incubation centres. The whole idea is to create a model that is replicable and sustainable for participants and beneficiaries. The access of funds would be easier as the women would have a financial track record built over 6 months thereby making them investor/funding ready upon graduation