| Current Status | Pre-Revenue |
| Amount Invested | RM65,000 |
| Funding Required | RM750,000 |
| Description | Iagoora bridges that gap between suppliers and buyers by providing a comprehensive listing platform, search engine and sourcing solution. We are not only focused on Food and Beverage suppliers but provide a holistic approach that ensures all hospitality industry segments are on board the platform, creating a one stop solution. |
| Business Opportunity | There are over 12,000 HORECA industry suppliers in Malaysia. Most are now facing a high sales team cost with no way of tracking their performance or ROI. On the ground marketing style is still the most prevalent strategy which makes it difficult to reach new target audience and gives buyers a hard time finding competitive products and services. |
| Revenue / Business Model | Malaysia has over 12,000 F&B suppliers and our goal is to have 15% to 20% of them listed on Iagoora by the end of 2021. There are 3 simple packages ranging from a free listing, Standard Membership (RM350) and Premium (RM500). We do not charge any commission rates. Other sources of revenue will be from digital advertising on the Iagoora website pages, web design and data entry services for suppliers and also related third party charges. |
| Management Team |
Nicol Roach Reddy (Founder & Team Leader) has worked in the F&B industry for over 18 years, lastly as the Director and COO of Chaswood Resources Holdings Ltd. He has managed business in Indonesia, Singapore and Malaysia with an annual turnover of RM150 million. Founder of The Restaurant Mechanics consultant firm, he is also passionate about working with startups in the industry to help them get on the right track from the beginning.
Muhammad Kashif (Co-Founder & Lead Programmer) has been in the IT sector for more than 15 years. Always developing and keeping up with the latest tech trends. He is skilled in Web Programming, Mobile App UI, SEO, Digital Marketing, Google Ad Word Certified and Project Management. He is an avid traveler and adventurer and owns his own travel site. Kash has numerous professional certifications from universities in USA, Australia and UK. He has work experience in Europe and Asia. Rajendra Subra (Operations Engineer & IT Tech) has worked in the Hospitality Industry for over 15 years and his most recognized job scope was with TGI Fridays as a Regional Manager for Malaysia managing the business and delivering results to stakeholders. He is now a freelance F&B consultant and joined Iagoora because he strongly believes in the ability of the brand to bring the industry forward. Raj studies IT at the boom of the industry and leads the operations team. |
| Company Background | Iagoora Hospitality Solutions Sdn Bhd was founded on 12-01-2018. We started programming the website 4 months later and completed programming on December 2018. Pulling full time jobs both the founders Nicol and Kash work tirelessly to make Iagoora come true. We are now listing our first 20 suppliers and will be targeting to list 200 suppliers in the next 8 months. We have personally invested RM65,000 into Iagoora since it’s inception and are now looking for funding to move forward and grow the brand and business. |
| Funding Milestone | We are looking for RM750,000 for the following purposes. Hiring team for sales, marketing, programming and administrative then running operations cost. Building iOS & Android applications, continuous programming, office space, integration with POS. We will be operationally self sustainable when we reach 200 subscribed paying members in 6 to 8 months. |
| % Equity Allocation | 7.5% |
| Expected ROI | 3 years + |
| Risks and Mitigation | Before we embarked on this project we took time to meet with key suppliers in the country. Their positive feedback and encouragement is what drove us to invest into Iagoora. There is a lack of web technology in the F&B supplier sector which makes it difficult for buyers (restaurants, hotels, cafes & etc) to source for products, vendors and service providers. The problem is faced by both buyers and suppliers alike which is where Iagoora comes in. We are the bridge that links both sides of the divide. Our key suppliers are POK Brothers, Euro Atlantic, TWH Tong Woh, Allied Food Services and many others that we seek advise from. |
| Exit Strategies | Exit strategy for investors if they wish to can be in 5 years time when the business has expanded in the region. We plan to expand into Singapore, Indonesia and Australia in 2021 when we have reached 1,500 suppliers in Malaysia. Option would be to sell shares back to the the founders based on the future valuation at the time of sale. |
| Company Name | Iagoora Hospitality Solutions Sdn Bhd |
| Website/Facebook | http://iagoora.com/final/ |
| Business Address | B-2-16 Boulevard Residence, Kampung Sungai Kayu Ara, 47400 Petaling Jaya. |
| Contact Person | Nicol Roach Reddy |
Subscribe
Login
Comments