LadipoMarket.com.ng

Lagos, Nigeria

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Executive Summary

We are actively looking for an angel investment sum of $100,000 to aid us expand the online e-commerce platform (LadipoMarket.com.ng) in the areas of marketing, research and development.

 

Highlights

  1. Finished Product – www.ladipomarket.com.ng (and mobile app).
  2. Total yearly revenue of N8.27 million naira ($22,657) in sales.
  3. A working team of 5 experienced hands.
  4. We receive an average of a 300 calls per day requesting for our products.
  5. We have an office apartment of ours & a dedicated hotline (+2347019559860)

 

The Business

Ladipo Market is the biggest auto spare parts market located in the busy city of Lagos, Nigeria where auto spare-parts are bought in large quantity by wholesalers and later distributed by them to other major cities such as Abuja, Port-Harcourt, Kaduna, Warri, Ibadan and other West African countries such as Ghana, Cameroun, Benin, Cote D’Ivoire and so on.

Due to its vibrant and active group of auto spare part vendors, Ladipo Market accounts for roughly 30% of Lagos State’s Revenue in tax alone and thus represents the single, largest hub for economic activity in the state and indeed across Nigeria.

Before now, buying spare parts online was literally impossible because, most auto spare part vendors located at Ladipo Market were not online and so information about their goods and services were not available in anyway to customers who were interested in buying from them.

What we have done as a company, is to organize these spare parts in a way that makes it easy for anyone, anywhere in the country and beyond to find what they are looking for and buy from us directly. This is what gave birth to our young, fast-growing start-up called LadipoMarket.com.ng.

LadipoMarket.com.ng is simply an online auto spare parts website providing customers with price information on various spare part products and a safe and guaranteed environment where they can quickly purchase auto spare part products online.

 

The Market (Industry Analysis)

Nigeria is an import-dependent nation and currently imports virtually everything. In 2016, Nigeria spent a total of 1.3 trillion naira ($3.3 billion US dollars) on importation of vehicles representing a 15% increase from the previous year’s importation numbers.

The Nigerian spare parts industry was no different and imported well over 650 billion naira ($1.8 billion US dollars) worth of spare part goods in 2016 to meet up with the rising demands from the teeming population of road users who required them for the maintenance of their vehicles.

The market is very active and growing and it is predicted that by the end of 2017, the country would have done 720 billion naira ($2.0 billion US dollars) in importation of spare parts.

 

Progress/Proof

Our website – (www.ladipomarket.com.ng) currently serves as the leading auto spare parts website in Nigeria with an average visits of a 300 people per day and a total product base of 703 products classified into 63 categories.

We have also made a total revenue of N8.27 million naira ($22,657) in sales between when we started last year (August) and today with no form of advertising so far. We presently have a mobile app, an active social media presence on facebook, twitter, instagram and a dedicated hotline (+2347019559860) that serves as a customer service point for clients.

 

Objectives/Future

Our short term goal for the next 1 year will be to drive aggressive marketing in the areas of social media campaigns (Facebook and Instagram) and online video marketing (YouTube). This means of advertising has proven very effective for Nigerian businesses and we intend to take advantage of these means of advertising to reach more Nigerians.

We also plan to hire more market agents who will be acting as our resource agents. They will be in charge of getting information on new products and their prices from the spare part dealers within the market. This is crucial to our business and will help us achieve our target of building a bigger and more robust product base that can meet more needs of Nigerians.

 

The Team

Our team is made up of a group of young, vibrant men and women with a wide range of experienced in various fields. We have a team of 5 young professions namely: Chigozie Orunta (Founder & IT Specialist), Glory Anaba (Legal), Bolarinwa Okeseeyin (Customer Service), Ifeoma Norah Onyejeni (Logistics & IT), Onyekachi Sunday (Market Agent).

 

Chigozie Orunta (Founder)

Chigozie Orunta is the CEO of AppWorld International Limited (www.appworldng.com) and founder of LadipoMarket.com.ng.

He has well over 15 years experience in programming, design and development and is also the founder of FlexPay.com.ng (an online payment processing company based in Nigeria).

Before now, he briefly worked as systems analyst for Chase Technologies and Tranter Nigeria Limited, where he gained programming experience and later worked in Guaranty Trust Bank as a credit analyst and staff.

He is a graduate (B.Tech Physics) of the Federal University of Technology and a fellow of the Nigerian Institute of Management.

 

Glory Anaba – Company Secretary (Legal)

Anaba Glory. E is the company secretary and legal representative for LadipoMarket.com.ng. She’s also the chief operating officer of Initiative for Global Change.

A Legal Practitioner by profession who studied law at the premier private Igbinedion University Okada, Edo State, Nigeria and has been in legal practice since 2010.

Asides from being a lawyer, Glory lectures part-time at IICD (International Institute for Career Development) an Institute for acquisition of skill on Entrepreneurship and Business ideas on legal issue that borders around business.

She also has professional (Basic and Advanced) Business Certification.

 

Bolarinwa Okeseeyin – Customer Service/Marketer

Bolarinwa Okeseeyin is a graduate of Lagos State University (LASU), Lagos, Nigeria with a degree in International Studies. He is an experienced customer service professional with over 3 years experience.

He currently manages the customer service arm of LadipoMarket.com.ng and has a passion for reaching out to new clients for our young start-up.

 

Ifeoma Norah Onyejeni – Logistics Manager

Armed with a Biochemistry degree from Delta State University, Ifeoma is our logistics manager in charge of processing customer’s orders and getting it across to them.

She is also well versed in the area of network administration and digital marketing.

She’s HSE certified and has worked for various corporate organizations in the role of medical personnel and unit leader/organizer.

 

Onyekachi Sunday – Market Agent

Onyekachi Sunday is an experienced Ladipo market agent with over 6 years experience. He deals and works directly with major spare part dealers within the market and is very resourceful with obtaining prices and purchases for LadipoMarket.com.ng.

He currently serves as our chief market agent and is in charge of 3 young market agents that work directly under him.

Why Buy From Us?

100% Guaranty

Yes! We offer you an opportunity to return non-functional spare parts purchased from us within one week and we change it immediately for you.

Experience

We know the well established names or brands in the market and can help you get the right parts from trusted vendors who are good.

Track Record

We are Nigeria’s no.1 spare parts online website with a track record for rendering unparalleled service in the Nigerian Industry.

About Us

We are Nigeria's No.1 spare parts online website providing with information on auto spare parts pricing and making it easy and convenient for you to buy anything online.
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