Project Cost: RM 1,000,000.00
Amount Invested : RM 300,000.00
Amount Required : RM 700,000.00
Knowledge / Experience Required:
sale & marketing
Proposed Investor’s Role: as consultant
informatics / multimedia
Company Current Status:
Revenue Generating, Pre-Profit
myself, jeiyan started my career in the IT industry focusing on healthcare. Came out of the industry in 2004 and got involved the the Security Manpower industry. Noticing a big gap for systems to complement the manpower services, in the 2012, i left the manpower industry and jumped back to the IT industry but this time was focused more towards IT Solutions for condominiums and residential compounds.
Product / Service Description:
a cloud based management system that handles the entire operations of the condominium as well as ties itself with the security features (both hardware and software) that would in return reduce the condominium’s dependency on manpower. Our solution works as and end to end solution that integrates the management software, and hardware (cctv, access cards, barrier systems, Intercom/Pabx) etc.
Bringing down the cost of operations and increase the efficiency of operations at a condominium has become a major task that is being pursued by many . Current dependency on security and management manpower is becoming very expensive.
Our target is that with a small subscription per month, we would be able to provide an environment that would make the condominium management become very efficient and reduce the dependency on manpower hence REDUCING the operational cost.
There are over 3000 condominiums in Selangor and KL with basically no condominium operating on a integrated system like this.
It would be a subscription based solution with a condominium paying a very minimal/affordable monthly subscription between RM 500.00 to RM 800.00 . Targeting that in 2 years to have about 20% of market share (600 condominiums) = an estimated RM 300,000.00 / month.
Management Team: basically, the team leads are as follows :
i) Design and Planning : Mr. Jeiyan (myself)
ii) software development : Mr. Ashwanth (development team is from Bangalore, India)
iii) Support (hardware) : Mr. Jack (barrier systems, entry / exit management)
iv) support (software) : Mr Dharan (systems and training)
Beezeebee is has been completed with its core modules operational. product is able to be launched with the core modules operational and would be having all the modules ready by end August.
Personal Investment has grossed RM 300,000.00 over time and revenue has exceeded RM 500,000.00 over the last year.This revenue is NOT limited to the software but also our supporting businesses like CCTV installation and maintenance, Access Management etc.
the funds would be used for product completion (RM 100,000.00) which includes support servers, registration with relevant government bodies, etc and the remaining RM 600,000.00 would be for wages, support systems, staff expenses, marketing initiatives and product launches etc.
currently equity given would be 40% for the investment of of RM700,000.00 . figure was derived by the ratio of investments done by myself and the market potential.
Expected Return On Investment:
conservatively withing 2 yrs but we are looking at the possibility of within 12 months.
Investment Risk and Mitigation:
local culture still believes more in actual paper and face-to-face meet. this will reduce the users using the system but its not a shop stopper.
We have drawn out some plans as part of our marketing initiative to address this issue.
Exit Strategies: IPO within the next 5 yrs