N.GEORGETECH PLANET🌎

BUSINESS PROCESS

N.GEORETECH PLANET is a fully registered company with CAC, located in Ikeja Lagos. We operate in a single location, we sell advanced, durable and elusive CCTV cameras with motion detections, our products come in analog and IP. Analog comprises of drv, camera, hard drive and switch, while IP also known as internet protocol camera is a type of digital security camera that receives and sends video footage via an IP network. We also sell tiny and highly elusive tracking devices that can be attached to customer’s personal items like, iphone wrist watches,etc these gadgets would help security agencies in locating the carriers of such items.

We have a team of resilient, young hardworking individuals that are passionate about the safety of Nigerians and their properties. Our unique feature comes from the fact that, we offer free installation and maintenance within Lagos for a period of 12months which serves as our product warrantee, regardless the quantity purchased.

PRICING 

The average price for a set of analog surveillance package is $155.37, while the IP cost $269

PROFITABILITY 

We make profit from sales; we make a profit of about $60 on each set of analog surveillance package, while we make $100 on a set of IP. We are targeting revenue of about $55,000 by the end of 2022.

 MARKET OPPORTUNITY

Target Audience/Customers-

Lagos state, which is our closest market, has an estimated population of over 15 million

people. We target; residential houses of celebrities, government official and business

Schools, government ministries,

hotels, security agencies, companies etc. over 10 million people stand to benefit

from our company.

MARKETING AND SALES 

We intend to penetrate this huge market through the following means. (1) We shall advertise our products on all social media platforms and other search engines like youtube and Vidmate. (2) We shall partner with local security agencies in the state. (3) We shall be giving out a discount of about 10% for every purchase of ten sets of analog and IP for the next 6 months. (4) We shall leverage on referrals from friends and family. (5) Lastly, we are the only surveillance company that offers free installation, maintenance and free training on installation for customers for a period of 12months; this would be effective in securing customer loyalty.

BUSINESS ANALYSIS STRENGTH

Our company has been endorsed by some prominent system integrators and end users in the state, we offer prompt and free installation and maintenance, and we established excellent customer relationship.

WEAKNESSES

The cost of free installation and maintenance is heavy.

OPPORTUNITIES

Huge market, high levels of criminal activities.

THREATS

Unstable tax policies.

BUILDING A TEAM 

Emeritus Trading and Stores is owned by Emmanuel Oluwole who holds a bachelor’s degree in Biological Sciences from Benue State University, he is a prolific entrepreneur with efficient managerial skills, he  is the Chief Executive Officer of this company,he  controls the running of the company and also acts as the customer care agent. Tunde is a graduate of Marketing, he is the company’s accountant and marketing strategist, Bola, Philip, Amanda and Usha are in the installation and maintenance department. In all, we are a team of nine.

How much capital did you use to set up this business?

we started up in 2006, making sure that our services where just with third parties, we basically didn’t start with much capital. that at the long run we realized that aside from the services we can do some sales and supplies and we created some kind of relationship and partnerships with some vendors in getting some goods with clients soo when the clients pay we make payments to the customers.. soo i’ll say we started up with zero capital because first we had a good relationship with vendors in 2006 and later on we realized that we still stocking up and initially started up with about 3million and that was in 2013.

Did you share the capital with another person, or it’s sole proprietorship?

it’s a sole proprietorship, it’s just a business enterprise soo it’s a sole proprietorship we didn’t have any self capital.

How have you been able to cope with the constant power outage in this location?

we started in distributing from door to door, we didn’t have a particular place when running it but then after a while we started in a small container where we had to create a semi standard office, we struggled with power, generator in testing items. there’s no constant light so we consumed much on generators most of the times.

What other challenges do you face?

economy inflation, sometimes we get to loose items when shipping and they’re cases where we had to repair laptops that we thought would be functioning well. we can’t afford to be rude to customers when they complain with their feedbacks. other challenges are the inflation and dollars regularity..

How satisfied are you with the sales traffic?

 

considering the fact that we’re trying to pay for the rents the sales traffic has been good because it’s also a small company so we can’t afford to put people on salaries.. we do them on contract bases

How do you procure your products?

we procure our products locally and if they’re customized products if they’re specialized products where we can’t source locally we need to import soo we do more of importations..

How much is the estimated sales per month?

Give or take.. 2million..

 

Where did you see your self in the next 5 years ? 

Expansion is the goal. Expansion! Expansion!! Expansion!!!

How did is you intend to support the Nigeria economy and the society ?

Currently we have couple staffs working with us, this has created a side hustle for them too and a passive source of income so to speak. As they don't have to be always present. And as far as society is concerned, we aim at making outreach to Motherless babies home, at least once a year.

BY LINE 

Ezeamaramu Augustina Ozioma 

Published by SHODOLAMU OLAWALE QUADRI