AfriCoWorking - A Pitch Deck - Apr 2023
This is a pitch deck outlining the work needed to set up a small events and merchandise business for Africans and African diaspora, operating out of premises very close by to Canary Wharf London E14.
Photo by Sean Pollock on Unsplash
Introduction
AfriCoWorking is a business that creates revenue streams based on African merchandise and events, physical and digital, from a physical location based close to Canary Wharf, London E14. Our business model will create a win-win situation for all stakeholders, ensuring sustainable revenue streams. We aim to create a platform for AgriTech and FinTech exhibitors through events, and we will also provide equipment such as overhead projectors, microphones and podcasting equipment. The physical space in which we operate is DLT Lounge.
Section 1: Problem
There is a gap in the market for an African merchandise business that also hosts events for AgriTech and FinTech exhibitors. Currently, there are no such businesses in the Canary Wharf area.
Section 2: Solution
AfriCoWorking will provide a platform for African merchandise and events for AgriTech and FinTech exhibitors, physical and digital, from a physical location based close to Canary Wharf, London E14. We aim to create a win-win situation for all stakeholders, ensuring sustainable revenue streams.
Section 3: Business Model
AfriCoWorking will generate revenue through the following sources:
Rental fees for exhibitors and merchandise vendors
Ticket sales for events
Merchandise sales
Sponsorship and advertising from key partners
Rental fees for equipment
Section 4: Market Opportunity
The market opportunity for AfriCoWorking is significant. Canary Wharf is a major business district in London, and there is a growing interest in African merchandise and technology. We estimate that the market size is around £10 million per year.
Section 5: Marketing Strategy
We will market AfriCoWorking through the following channels:
Social media advertising
Email marketing campaigns
SEO and content marketing
Partnership and collaboration with other businesses
Section 6: Competitive Analysis
There are currently no businesses in the Canary Wharf area that offer both African merchandise and events for AgriTech and FinTech exhibitors. However, there are a number of businesses that offer similar services in other parts of London.
Section 7: Financials
We estimate the initial start-up costs for AfriCoWorking to be around £200,000. This will cover the cost of equipment, marketing, staffing and rental fees. We estimate that the business will generate revenue of £500,000 in the first year, with a net profit of £150,000.
Section 8: Key Personnel
To set up and run AfriCoWorking, we will need the following personnel:
Creative Director
Marketing Manager
Event Coordinator
Merchandise Manager
Accounts Manager
Section 9: Timeline
We estimate that it will take six months to set up AfriCoWorking, including acquiring equipment, hiring personnel and marketing the business. We aim to hold our first event within six months of launch.
Section 10: Stakeholders
Our stakeholders include:
Merchandise vendors
Exhibitors
Sponsors and advertisers
Customers
DLT Lounge (the physical space in which we operate)
Projected revenue streams for stakeholders:
Merchandise vendors: Rental fees for space and a commission on sales
Exhibitors: Rental fees for space and equipment
Sponsors and advertisers: Sponsorship and advertising fees
Customers: Ticket sales and merchandise sales
DLT Lounge: Rental fees for space and equipment
Conclusion
AfriCoWorking is a business that creates revenue streams based on African merchandise and events, physical and digital, from a physical location based close to Canary Wharf, London E14. We aim to create a win-win situation for all stakeholders, ensuring sustainable revenue streams. Our business model will provide a platform for AgriTech and FinTech exhibitors, as well as African merchandise providers.
Requested Cost & Timescale Revisions
Revision to cost and time estimates when integrating ChatGPT into plans.
Peter Jones:
Consider using Chat GPT in the roles described for AfriCoWorking, estimate the effects on both costs and timescales, and revise just the sections concerning financials and timescales.
Revised Financials and Timeline
Section 7: Financials
Using Chat GPT in the roles described for AfriCoWorking could reduce our staffing costs and streamline certain processes, which may result in a lower initial start-up cost of around £150,000. This would cover the cost of equipment, marketing, and rental fees. We estimate that the business will generate revenue of £450,000 in the first year, with a net profit of £120,000.
Section 9: Timeline
By using Chat GPT in the roles described for AfriCoWorking, we could potentially reduce our set-up time by two months, bringing the total timeline down to four months. This would include acquiring equipment, implementing the use of Chat GPT, and marketing the business. We aim to hold our first event within four months of launch.
Note: It's important to keep in mind that the use of Chat GPT may require some additional time and resources to ensure that it is properly integrated and functioning as intended. This may affect both the costs and timeline, so careful consideration and planning should be undertaken when implementing this technology.