An elevator pitch is a critical tool for start-up businesses (or any business seeking funding) to have.? In f1 through 3, your Group built the fra
An elevator pitch is a critical tool for start-up businesses (or any business seeking funding) to have. In f1 through 3, your Group built the framework and an initial business plan for your proposed opportunity. In f3, you prepared a pitch slide deck for the North Dallas Business Angel Syndicate (NDBAS). In f 4, your Group has been selected as a finalist to present your idea to the NDBAS. Your group is one of 12 groups selected to present at the next NDBAS meeting. You are told you will only be given 60 seconds to present your pitch to the investor audience. As a reminder, the minimum amount of funds you can request in your pitch is $5,000. There is no limit (although it is not recommended you exceed $500,000).
Brim auto spares
Providing affordable spare parts for motorbikes and the general public to help the lifespan of their motorcycle.
The Issue
In most cities in Africa “public” transportation is inaccessible and almost nonexistent.
There are approximately 200 million motorcycle riders in the world and the number of riders in Africa is one of the highest in the world. The issue is that even though there are millions of people who ride motorcycles in Africa there are no manufacturing companies that handle the development of motorcycle spares. The need to be filled is easy access to parts and spares to repair motorcycles more easily.
The Solution
We aim to create a business that assists people with finding the parts that they need so that they can go about their daily lives unaffected. In the United States, if we have any issues with our vehicles, we can simply get it fixed or even take a taxi or Uber to reach our destination. In other countries, this opportunity is not given. If your motorbike requires maintenance and (or) needs a missing part, you are simply out of luck. This is where Brim Spare Parts comes in to assist! We’ll get the parts needed to you as soon as possible
Having remote production of motorcycles and parts creates import duties, and motorcycles and parts are marketed at higher rates. With our business plan we will be able to minimize those import duties and lower the market rates of the motorcycles.
Opportunity
In many places of the world, motorbikes are essentially the primary mode of transportation for individuals. They are relied upon to navigate to and from work, school and any other tasks that you may have, but the issue that people are facing is the common wear and tear of their bikes. After years of usage these bikes require maintenance and oftentimes new parts to get it up and running.
However, these parts are scarce, thus hindering the lives of people. Without transportation, they miss out on work and it becomes a rippling effect. We at Brim Auto Spares will be able to remedy the situation with providing them with the parts that they need and any other assistance desired for their motorbikes.
Target Audience
At Brim Auto spares we would assist these bike riders with the parts that they need. We would be able to accommodate customers in many places of the world, such as Africa, Argentina, Egypt, Turkey and more. These are all countries where motorbikes are heavily used.
https://sumorubber.com/where-to-look-for-the-hard-to-find-motorcycle-parts
https://www.worldatlas.com/articles/countries-that-ride-motorbikes.html
Technology
With the many shops that we will have available, we will have skilled and knowledgeable employees ready to assist. Whether it’s a simple inquiry or locating a much needed part, we are here to help. With our vast inventory of products. We can accommodate customers with online orders or in person.
Competition
Brim Auto Spares will set up shop in Nigeria, Africa and establish a presence with the natives. This will be our primary location and over time of building clientele, we will expand across the globe. We would face competitors such as, Honda Motorcycle, Innoson Nigeria Limited, Qlink Centre, Zongshen Motorcycles and Suzuki. These places are globally known or locally and they have already have a presence with consumers. While they offer similar services, most (if not all) have high prices and limited on inventory of parts. At Brim Auto Spares, this wouldn’t be an issue, we would be stocked with parts bountifully and with reasonable pricing.
https://www.hotvibesmedia.com.ng/2019/09/top-10-motorcycle-dealers-nigeria.html
Marketing & Sales
When it comes to marketing for Brim Auto Spares, we plan to utilize the 5Ps. Promotion, people, product, price and place.
We will market our business through social media outlets, advertisement via television and websites.
We will advertise with local businesses in the community (using flyers and business cards).
Customers will be able to make a purchase from any of our locations, our mobile app, our website or a third party (such as Amazon).
Transactions can be done using any credit or debit card, cash at psychical locations and other monetary forms such as CashApp, Venmo, Apple Pay, etc.
Our sales cycle is a duration of two months.
Management Team
Founder
With her knowledge and expertise, Oyinye Ekemezie is the founder of Brim Auto Spares. With her determination and her passion to help aid, Oyinye was able to bring Brim Auto Spares to light.
COO
Serving as joint chief operating officers are Colin Busby and Olivia Saldivar. These two skilled professionals use their knowledge to take on functions of operating the company in an efficeint manner.
CEO
With several years of management experience, D'Zul Cook takes on the role of CEO. With his leadership, he will be able to guide the company in the right direction. With his skills and insight he aims to make Brim Auto Spares a well-known company and a household name.
Financial Projections
The company generates 5.69 million dollars in sales, and there are two companies in Brim’s Import corporate family. With the above figure as the annual sales, the total income attributable to income on products and services sold by this company is likely to increase.
Financial Projections
| Assets | 2019 | 2020 | 2021 | 2022 |
| Cash | 167,971 | 181,210 | 183,175 | 211,069 |
| Accounts Receivable | 5,100 | 5,904 | 6,567 | 7,117 |
| Prepaid Expenses | 4,806 | 5,513 | 5,170 | 5,998 |
| Inventory | 7,805 | 9,601 | 9,825 | 10,531 |
| Total Current Assets | 185,682 | 202,228 | 205,277 | 234,715 |
Financial Projections
| Liabilities | 2019 | 2020 | 2021 | 2022 |
| Accounts Payable | 3,902 | 4,800 | 4,192 | 5,265 |
| Accrued Expenses | 1,302 | 1,541 | 1,662 | 1,865 |
| Unearned Revenue | 1,548 | 1,560 | 1,853 | 1,952 |
| Total Liabilities | 6,762 | 7,901 | 8,427 | 9,802 |
Financial Projections
| Shareholder's Equity | 2019 | 2020 | 2021 | 2022 |
| Equity Capital | 170,000 | 170,000 | 170,000 | 170,000 |
| Retained Earnings | 2,474 | 14,265 | 35,340 | 62,053 |
| Shareholder's Equity | 172,474 | 184,265 | 205,340 | 232,053 |
| Shareholder's Equity & Total Liabilities | 234,762 | 248,038 | 249,332 | 277,187 |
Current Status
January 2022: Formation of Brim Auto Spares
February 2022: Create a Feasibility analysis for Brim Auto Spares
February 2022: Begin to acquire product from remote sources
March 2022: Acquire website domain name
March 2022:purchase office space for Headquarters in Johannesburg, South Africa
March 2022: make first few sales to contribute to our ROI and establish a place in the market
April 2022: Create our Initial Business Plan
April 2022: Meeting with potential investors
Financing Sought
Brim Auto Spares is looking to acquire $190,000. This will cover costs of creating websites, payroll for our first set of employees and other services we hire, supplies for the offices as well as supplies for shipping out our products.
More specifically:
Accountant
Contract a phone center
Aan online tool to make meetings and keeping track of business endeavors easier
Business insurance policies
Company website and maintenance.
Materials for shipping: boxes, tape, packaging for the specific motorbike parts, etc.
Office space & supplies
Summary
The future endeavors of Brim Auto Spares are large yet surely obtainable with the tenacity that this company has. The passion that this companies founder, Onyinye Ekemezie, has. Not only her but the technical maneuverability, and witty critical thinking that our CEO (D’Zul Cook) has. We as a company can overcome any obstacle that arises. With seamless employee operations and company operations coordinated by Olivia Saldivar and Collin Busby, growth is inevitable.
,
Team Deliverable Four- Business Pitch
1) Describe or explain the problem (or gap) you are trying to address via a quick narrative
a. Approximately, 200 million are motorcycle riders in the world today. The number is expected to rise as it is the most reliable means of transport in the third world countries. The number of riders in Africa is high as compared to other continents. However, there is no manufacturing companies that deal with the development of motorcycle spares. Due to these there is need for importation of these commodities from time to time which is expensive.
2) Describe how your product/service will address the problem described in #1 above
a. The product that will be developed by the company is motor cycle spares. The spares will be developed remotely from the various companies. The aspect of remote production is to ensure that everyone gets access to the commodities easily. Also, the cost of production reduces as more commodities will be produced to serve the needs of the consumers.
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