"From Small beginnings come great things" EXECUTIVE SUMMARY
123Ryde Logistics is a start-up and registered company located in Kano.123ryde Logistics is a courier company which will established itself to exclusively cater to the growing E-Commerce industry, by providing a one stop Product Delivery and Cash Handling solutions.
While delivery services is not an innovative idea in itself, our plan addresses delivery in a new way. There is no direct competition for a business of this sort presently in Kano because our services include such a wide range of delivery options as well as using cutting edge technology for our services. Not only will we corner a segment of this market, but we are proposing to launch our business at both a time and place where it has high potential.
In today's society, people are constantly on the go and are utilizing delivery service in all type of businesses and personal effects. We are starting the company in a city with a lot of commercial activities, travelling around the city can be hectic and time-consuming, so customers will appreciate the ease of the services we are planning to offer. Furthermore, delivery is extremely popular among retail e and f commerce, food vendors, restaurants, offices and others.
To attain and retain our customers, we have in place strategies to assist us which includes but not limited to:
+ Creating a positive customer experience
+ Customers loyalty programs
+ Staying in touch with our customers
+ Appreciate our repeat customers
+ Asking for feedbacks from our customers and treating their feedbacks adequately.
With the booming e-commerce in Nigeria Our targeted customers includes; Online stores,Eateries, supermarkets,Schools,Government offices,Real estate owners,Hotels,Financial institutions, Manufacturers and Distributors, Cooperate organizations, market sellers, private organizations as well as individuals.
KEYS TO SUCCESS, OBJECTIVES, BUSINESS TARGET &MISSION KEYS TO SUCCESS
The keys to success for 123ryde Logistics includes:
2) Affordable cost
3) Convenient delivery time for our customers
4) Trained, reliable and courteous riders
5) Competitive pricing
6) Using state of art technologies for our deliveries
a) To be the best bike delivery service in our location.
b) Quick response.
c) Fulfill customer requirements.
d) To develop a profitable/sustainable home-based company.
e) Mitigate product damage.
f) Efficient flow of Information.
Our targets for Establishing this courier and logistics organization include:
1) To establish a credible name In the courier industry.
2) To iprove the state of courier services in the country.
3) To ease the way of doing business of E and F-commerce vendors by being intermediary for cash collection and refunding back to them.
4) To know the consumers of the major E and F-commerce businesses as well as the products they are buying.
5) To establish e-commerce store
6) To expand to other cities and countries.
MISSION, VISION & VALUES
123ryde logistics mission is to provide customers with an environmentally friendly, expedient delivery service. We exist to attract and maintain customers.
The mission of 123ryde Logistics is to take part and help create an ecosystem for the consistent growth of the E Commerce industry.
The world is changing and it demands for dynamic solution to its new problems. Up until lately, people were not familiar with online shopping especially in Africa which is now spreading all over African cities.
This new trend demands for a solution that is customers centric to better provide a lean solution to address to the problem as online shopping is relatively new culture in this part of the world.
Therefore,123ryde Logistics will looks closely into the wants and needs of the market and is willing to be flexible in terms of its service offerings.
The vision of 123ryde Logistics is to become a one stop solution to the E Commerce companies.
Starting with the delivery and cash handling solution will enable 123ryde Logistics to be an intermediary between the buyers and sellers.
123ryde Logistics opportunities to get to know the players of E and F- commers market as well as get commerce data, therefore 123ryde Logistics thrives to position itself as a complete E & F commerce solution firm that would allow new business to enjoy the solutions relevant to their businesses, all under one roof.
123ryde Logistics will give uttermost priority to customer satisfaction unlike the conventional courier services, 123ryde logistics will cater to business as well as household customers.
This means that the company has to provide service to a very small segment of the population overtime and their satisfaction is a key to the company's existence.
The employees at 123ryde Logistics will undergo grooming sessions to adapt themselves into the company's culture. Here, the employees have to understand and indulge into the 'Customer is always right' slogan.
"If you want to grow you have to do something different from the majority of people." PRODUCTS AND SERVICES PRODUCT STRATEGIES:
Initially, 123ryde Logistics will focused on delivering parcels in less than 3 hours for intrastate and less than 24 hours for interstate.
We will have the following products for both intra and inter state. Regular Delivery: Maximum of 3 hours in intra state and 48 hours for interstate. Express Delivery: Maximum of 1 hour for intra state and 24 hours for interstates. Special Delivery: For oversized or overweight and it will be based on the dimension, weight and distance. Shopping and Errand Services: This service is for busy individuals or organizations that register with us for the purpose of buying groceries, general goods and others as well as picking up items, documents etc. from places. Merchant Delivery: This is a form of delivery whereby we will station rider or riders to our partners or merchants, they can be using the bike for their logistics need with a fixed price for either daily, weekly or monthly. The partner will be fueling the motorcycle for the period.
By using our products, customers will enjoy Fast delivery
123ryde Logistics will ensures the fastest delivery to the customers. They will deliver the merchant's product to the customers within 3 hours after picking up the products from merchants for intrastate and 24 hours for interstate.
HANDY APPS AND WEBSITE
123ryde Logistics will developed convenient apps and websites for its clients which will be very easy to use. Anyone can easily register or sign up as a merchant just with a few clicks to place order and track their package always.
DELIVERY THROUGH OWN TRANSPORTATION
123ryde Logistics will be delivering products through our own transport which will totally eliminates the chances of product loss or damage.
24/7 CUSTOMER CARE SUPPORT
Merchants of 123ryde Logistics can have full day customer care support at any time.
"If opportunity doesn't knock, build a door" - (Milton Berle)
The E-Commerce market has developed quite late in the African continent as compared to the US and China. In the last decade online grocery shopping has become a thing and has changed the way Nigerians shop. All kinds of items are now available online such as books, food, toiletries, clothes, electronics, furniture etc. In 2019, the revenue of the Nigerian E-Commerce market amounted to US$ 4,885.7 million.
The revenue is expected to grow at a compound annual growth rate (CAGR) of twenty point five percent (20.5%) in the period of 2019-2023, resulting in a market volume of around US$ 10,290.6 million by 2023.
In 2019, the market's largest segment was fashion with a market volume of US$ 1,761.9 million and user penetration was fifty two point two percent (52.2%) and is expected to reach seventy-five point two percent (75.2%) by 2023. With the ease of payments through mobile money and debit cards, increasing internet penetration is expected to help this sector to grow further in Nigeria and also give a boost to the logistics and freight market.
Nigeria is the 38th largest market for eCommerce with a revenue of US$7.6 billion in 2021, placing it ahead of Pakistan and behind Finland. With an increase of 44%, the Nigerian eCommerce market contributed to the worldwide growth rate of 18% in 2021.
With the booming ecommerce in Nigeria, the delivery providers in the country like DHL, FedEx, EMS, UPS etc. have seen a steady growth in their revenues and as the population is increasing with average revenue per user amounting to US$ 46.53 in 2019, the future of logistics market in the region looks promising as it's the fastest-growing sector, coming in at 41.59% in Q4 2022.
The market for courier services in Nigeria is national. With a population of over two hundred million (200,000,000) people and an estimated national population growth rate of five point seven percent (5.7%) per annum, average economic growth rate of three point five percent (3.5%) per annum in the past five (5) years, Nigeria is a large, expanding and sustainable market for courier business.
The overall Logistics Market in Nigeria is expected to increase during the forecasted period due to growing demand for E Commerce Product, Increasing International trade and Rise in Domestic Manufacturing. It is expected that there will be an increase in investment towards industrial parks in export promoting zones with PPP framework. The growing middle class population and increasing retail stores, food deliveries and supermarkets will increase the demand of logistics services.
Nigeria is the 38th largest market for eCommerce with a revenue of US$7.6 billion in 2021, placing it ahead of Pakistan and behind Finland. With an increase of 44%, the Nigerian eCommerce market contributed to the worldwide growth rate of 18% in 2021.This adaptability has allowed people to explore the realm of the internet and its offerings. The minorities that used to seek for jobs back in the late 1990s have turned into a majority, which looks for shopping items over the internet in the current days. This has created an opportunity for more home grown online pages to sell products and create the online platform into an online shopping mall using WhatsApp, instagram, Facebook as well as World Wide Web.
Therefore, with consumers having so much faith on this industry and with new online businesses entering into the market every day, there is a gap. The gap of a dynamic delivery ecosystem is still not firmly established in Nigeria which would operate keeping the needs and wants of the market into focus.
Since Nigeria has not yet accustomed itself with using credit or debit cards for online shopping. Therefore, the model is very different from that of west. In Nigeria the most popular method of cash transaction is through Cash on Delivery. In simple words, this means that the customer pays for the product in cash.
SWOT ANALYSIS: STRENGTH
The strength of 123ryde Logistics and its willingness to cater solely to the E Commerce market.
Its ability to listen to customers and include it in the service module will give the company a competitive advantage over the conventional courier giants
Also starting from market where all other startups are not organized and lack modern technologies is another strength for 123ryde Logistics.
At the end of the day 123ryde Logistics is basically a courier company that is providing dynamic services and a courier company needs to have a good network all around the country or all over the major cities of Nigeria.
Being a startup firm, 123ryde Logistics lacks the proper funding to expand its operations at the pace that it is require to satisfy the Nigerian market.
The E Commerce industry is growing at a lightning fast pace and it is the ideal time for a startup firm like 123ryde Logistics to seize the opportunity and grow with the market especially starting from the Northern part of Nigeria where most of the logistics startups are inefficient with poor delivery services.
E commerce is just not about buying apparel products over the internet. The food industry has reached a new hype among the internet users and there lies an opportunity for the delivery companies to create an infrastructure to expand the market.
Cash on Delivery service is preferred by online buyers all over Nigeria, however, this mode of transaction poses a great threat for the courier companies as such deliveries can be made and the customer won't pay for it as it didn't met his standard as well as the riders have to carry a lot of cash amounts every day and can be easily hijacked at the point of service because of the insecurity bedeviling the country. This poses to be the greatest threat for delivery companies that are focusing mainly on the e commerce market.
Secondly, 123ryde Logistics is not the only delivery company that is focusing on this particular market. Competitors such as GiG, Gokada, Kwik and a few more are present in the market. It is a competitive market and every firm is trying their best to dominate the major share of the market by serving the E Commerce giants.
Office Address Kano:
BSF03 Plot 47 Nassarawa Hospital Road Off Audu Bako Way. Ya kaji street, behind danlami filling station unguwa uku Ibrahim Taiwo Road close to Polaris bank, Kwari Round about
Suite B5, Morom plaza, Eke Yesufu close behind Eterna Oil, Utako