| Current Status | Concept / Business Plan |
| Amount Invested | |
| Funding Required | RM300,001 to RM600,000 |
| Description | MyPasaronline will gather local vendors and their products and make them available online for Malaysians. MyPasaronline (MP) will establish a centralized warehouse in which to store the fresh products for same day delivery. MP will establish and promote a healthy competition between local vendors and bigger supermarkets. MP has a three year plan in which it looks to conquer the malaysian market by providing quality service, fresh food, and borrow the business model of uber by involving the public in deliveries so they can earn income. |
| Business Opportunity | Available online grocery shopping service do not have fresh produce on standby (no physical goods). Theses websites and app instead have their employees shop for their customers at stores in place of the customer. This takes longer and is a more expensive approach to shopping. By buying goods from local vendors such as kampong suppliers, we can get fresh goods at more affordable prices and can store goods at warehouse (physical goods). |
| Revenue / Business Model |
Difference in profit of margin. MP will cut out the middle man, by obtaining groceries and products fresh from suppliers and local vendors, MP can increase the margin of profit of products by 30-50%. A local vendor was found selling 1.5kg of whole chicken at Negeri Sembilan or Kuala Selangor for RM5.00. Tesco and others sell the same item at an average of RM15.00
MP will have its own warehouse and chiller for the storage and distribution of products and will charge for handling fees. MP will have its own logistics fleet and charge for delivery. MP will also introduce in the future a scheme where customers can also deliver goods and earn income. |
| Management Team | Only CEO and two developers so far. However, for development, only one more operations assistant and marketing officer is needed for the period of 6 months. After 6 months, MP will look to generate a positive income. |
| Company Background | CEO started his company in July 2016 and worked full time as a legal and business consultant. A single individual working full time, he has been able to record a positive RM100,000 money in to the company until to date. |
| Funding Milestone |
– Operational strategy : RM50,000 for human resources, research and development.
– Marketing : RM100,000 for marketing both offline and online including hiring of influencers, campaigns, targetted ads and promotional activities. – ICT development : RM50,000 for the development of the website and app in 5 months . – Logistics arrangements : RM250,000 for the rental of vans, motorcycles and warehouse rental and renovations. – Miscellaneous – RM150,000 for ICT Hardware such as RFID for location tracking of deliveries, and other dorect expenses that might arise. If not used this money will be reserved as rolling capital for investors. |
| % Equity Allocation | 40 |
| Expected ROI | 20% |
| Risks and Mitigation |
Market risk – New disruptive model however, PasarTap has successfully done this, owing their products to Mydin instead of having their own warehouse. Diversifying purchase of goods from a variety of vendors based on supply readiness and selling price.
Financial risk – Costs ripping into balance sheet can be mitigated by lowering other costs without sacrificing quality. Vans can replace motorcycles for delivery thus eliminating the need for custom made baskets and a fleet of motorcycles. Warehouse rental can also be reduced to shoplots for cheaper rent and easier accessability. |
| Exit Strategies | Initial public offer, Private Offerings of shares to raise funds, Overseas Venture Capital involvement to maintain security and positive cash flow. |
| Company Name | xxx Sdn Bhd |
| Website/Facebook | xxx |
| Business Address | xxx Empire Damansara, Damansara Perdana |
| Contact Person | Nor Aiman |
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