Agribooth

Agribooth is a one stop platform for agriculture.
Startup name
Agribooth
Web address
Founding date
January 2017
Incorporation
Yes
Total team member
6
Startup stage
Prototype
Category
Consumer, Enterprise, Software
Sector
E-commerce & online marketplaces, Communications & media, Education, Food & nutrition, Manufacturing tech & materials
Product usage or interact
Desktop, Mobile/Tablet (iOS), Mobile/Tablet (Android)
City
Abuja, FCT, NG

Elevator pitch

In Nigeria today, there are over 20 million farmers, from small to large scale and one of the problems they are facing is the access to modern farm equipment and inputs. Agribooth aims to provide these equipment, inputs and information to farmers at a much cheaper price than is available in the current market. Farmers can order equipment from us and be rest assured they will get them when needed.

Team

Benedict Ezeokwelume

A Microsoft Certified IT Professional and a business management graduate of Edith Cowan University (ECU) Australia with a deep passion for mixing entrepreneurship with technology. I lived in Bangalore, India for 4years, the IT hub of India. Also the founder of SQT Web Solutions and Proschool manager

Raymond Chen

I am a Taiwanese-Filipino businessman who has lived in Nigeria for 27 years. I have a passion for entrepreneurship and agriculture.

Business model

Target customer

Small, medium and large scale farmers including the government.

Customer acquisition strategy

Through advertisments and working with farmers associations and govt.

Revenue model

1. Leasing fees for agribooth equipment hired.
2. Commission from leasing of 3rd party owned tractors
3. Online shop sales of agribooth products.
4. Commission from 3rd party vendors on our online Shop Platform.
5. Advertisments from ads posted on our online platform.
6. Members subscription fees for access to restricted portions of the platform.

Market info

Market size

$ 9,525,000,000

Competitors

Competition

TOHFAN is an acronym for "TRACTOR OWNERS AND HIRING FACILITIES ASSOCIATION OF NIGERIA". They are the largest organized body for the leasing of tractors in Nigeria at the moment with a fleet size of 109 tractors across the country. Their current model of tractor leasing is old fashioned and a hassle to farmers. Farmers have to go all the way to their physical location to make a booking for the tractor without knowing in advance whether there are available equipment for lease.

KPI's

  • 150 Number of Tractors confirmed
  • 27 Number of interested associations
  • 12,000,000 Number of interested farmers in associations
  • 8,000,000 Potential Yearly Income in USD

Startup traction

We have built our platform and are in the process of completing our mobile apps for both android and IOS clients. We have finalized all partnerships with our equipment suppliers and input suppliers and they are waiting for our "go-ahead" signal to ship down the first batch of goods for our services. We have also engaged all farmers associations and banks to create the awareness needed and the feedback we have gotten is very positive. Farmers have been eagerly looking forward to our system to be up and running so they can have access to our equipment at cheap rates. Banks and some government agencies have also expressed interest to partner with us and subsidize the cost of tractor leasing services on behalf of the farmers.

Other information

Confirmed delivery of 150 units of 80hp 4wd tractors with 5 implements each from our partners. This is all without payment upfront and deferred payment terms of 5 years. The value of contribution is around $3,450,000.

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1. Shandong Wuzheng Group Co. Ltd: Wuzheng is the second largest tractor manufacturing company and the largest privately owned commercial vehicle manufacturer in China. They have agreed to partner with us for the provision of all our equipment.
2. Weichai Power Co. Ltd: Weichai is one of the largest engine manufacturers in China. They have agreed to partner with us in conjunction with Wuzheng group for the after sales service, maintenance and provision of spare parts for our equipment since all our vehicles come with Weichai Engines.
3. Green Biotech: Green Biotech is one of the leaders in Biofertilizers and biopesticides. They have agreed to partner with us to introduce their products into the Nigerian market.
4. Shahdin Pure Limited: Shahdin is an Iranian company that specializes in food processing.

Publication date: 10 October 2017