Who We Are
Logistics is vital for the economic performance of any economy. There is huge demand from small scale businesses to move their products to the final consumer very quick and this is the gap we are coming to fill as a company. MyGm Management Nigeria Limited will serve businesses in multiple routes within the country and we will continue to expand the routes we serve in our various countries of establishment.
To this end, MyGm Management Nigeria Limited is keen on taking advantage of these opportunities.
Based on qualitative research and an in-depth feasibility studies carried out by a hired team of researchers in the Last mile delivery sector of the logistics industry and we believe the following projections can be achieved when we launch the last mile delivery arm of our business.
▪ Income Projection: The income projected for the first, second and third year is as follows: N 6,552,000, N 7,534,800, N 8,665,020. The projected revenue increases by 15% In the second and third years given that the same number or even more number of bikes is been used, we change price or demand increases.
▪ Operational Expenses: the projected operational expenses for the first year is
N 3,681,576. The total amount projected for expenses is based on present realities.
MyGm Management Nigeria Limited main goal is to provide a Very fast delivery and exceptional customer service to our consumers in a way that is more sustainable, and more cost effective than our competitors. Our focus and target audience will predominantly be small scale businesses (B2B).
With our estimated startup capital of around N10,000,000 MyGm Management Nigeria Limited is highly focused and promises to follow a path of prosperity for its owners and staff. The projections contained herein are authentic and will be used as the budget for the business. MyGm Management Nigeria Limited last mile delivery arm will show a profit within 12 months of launching, and will increase sales and profits each year thereafter.
2. Description of Problem and Solution
The logistics and supply chain sector is one of the fastest growing industries in Nigeria, though still in its nascent stage. As at 2018 the value of Nigeria’s logistics sector was estimated to be 250 billion Naira ($696 million US Dollars), a rise of 50 billion Naira ($140 million US Dollars) from 2017 figures. This was according to the 2018 Logistics and Supply Chain Industry report as reported by Vanguard.
A huge infrastructure deficit and anti-business government policies, poor road network, unstable electricity, multiple taxation, etc. has led to the sector not being able to achieve its full potential, with local stakeholders unable to meet financial obligations, transferring costs and charges to end-users thus making them uncompetitive, and making room for foreign owned operators with the financial capabilities to absorb higher levels of business risk to enter into the market, entrenched corruption, and others being additional factors.
Here are Few Stats to take Note of:
• In 2019, the revenue of the Nigerian E-Commerce market amounted to US$ 4,885.7 million. The revenue is expected to grow at a Compound Annual Growth Rate (CAGR) of 20.5% in the period of 2019-2023, resulting in a market volume of around US$ 10,290.6 million by 2023.
• Logistics companies like DHL, FedEx, EMS, UPS, etc. have seen a steady growth in their revenues with the average revenue per user amounting to US$ 46.53 in 2019
The goods delivery (logistics) business is not a capital intensive business and can be started on a not so much intensive budget. However, to ensure that the business grows and sustains itself, we intend to offer other services in addition to our core service – goods delivery. These other services will boost the bottom line of the business and cause us to achieve our intended sales projections on time and also solve some major problems in the Logistics industry.
We believe that we as a Company can help solve the Problem in the logistics industry by.
- Offering a Wide range of logistics service (Last mile delivery, Sea Freight, Rail, Cargo) etc
- Offering Logistics Consultation Services.
- By having a Well Organized delivery Process for our Logistics business
Vision and Mission
Our mission is to meet customers’ increasing demands for logistics services for their goods by providing them with very quick delivery services. We will offer all of our customers the direct personal attention they deserve. Our commitment to customer service and satisfaction assures us that our customers are 100% satisfied with our products and services.
We want to become a global Brand and have office in other countries of the World and we made steps already in achieving this Vision by having a branch already in Malaysia
We will focus on providing the market with very quick logistics services. In addition to this, we will focus on delivering exceptional customer service to our customer’s customer thereby offering much more value than our competitor.
Description of the Location/Our Office Space
MyGm Management Nigeria Limited is in Ibeju Lekki. This axis Is also where we have The LEKKI DEEP SEA PORT , This will enhance the demand for our Business over the years, We also have Lekki Free zone around And currently there is a proposed Lekki – Epe INTERNATIONAL AirPort around this area.
Office Not Far from Main Bus Stop Abijo GRA, Abijo , Ibeju Lekki, Lagos