William Wallace
Miami, FL (USA)
Role(s):
Founder/Owner/Principal
AfriBiz International
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Startup
Location:
Miami
Industry:
Technology/Web
Year Founded:
2006
Number Employees:
1-10 people
Description:
AfriBiz International (Miami, FL) exports beverages to Ghana via its local filial operations in Accra. We now plan to leverage our experience and assets (warehouse, import logistics, local and international staff) to fulfill the high local demand for clean drinking and cooking water.
We propose to sell atmospheric water generators into a market in truly dire need of clean drinking water (only 50% of the capital receives municipal water, which itself is contaminated). We have successfully identified the key cost factors that will allow introduction of this new consumer and commercial appliance at a pricing level affordable to a sizeable and increasingly sophisticated urban home and business office market in the Greater Accra region of Ghana. We will be importing the machinery direct from the Chinese manufacturers.
The target market is poised at a highly positive turning point (will become a net oil exporter in 2010; GDP growth circa 9%), and so presents a unique window of opportunity. The target range of products, restricted at first, allows measured and controlled expansion into practical green appliance technology, sold at a profit yet aggressively priced. Local direct competition in the same technology as yet does not exist, while other markets are beginning to boom in this new type of appliance, making the timing of this project promising and the choice of location fortuitous.
We are in search of $300k in startup business funding so that we can make the initial inventory and advertising investments to grow our new green tech business. Right now, AfriBiz International currently has annual gross sales in the amount of $250k or less. We have investment ready business plans, and full managerial and financial accounting due diligence available for review. We expect to become highly profitable within 18 months, yet have a staged capital infusion plan to cover downside risk. The upside for growth includes value-added reselling of our products throughout the region via named distributors for our privately branded product line, with the potential to become a multi-million dollar enterprise within 5-8 years.