The company will deliver Banknote Counter that give the customer opportunity to save their time for counting the daily income. Also, the product will have a good features that enable the company to compete other competitors. The product has a good quality as the brand is German brand. In addition as the company have already planned for future expand business to be enable deliver different products of new technology.
Market
Regarding to our research we found that there is big opportunity to start sell this product as regarding to our research we found that the market size is very big and we have noticed that if we start stablish the product then the high growth business will be successful. We found that we have two main competitor companies that we will be compete them. However, the price we will be staring with this product will be very good compare by them as their prices is very high. Also, we found that the main customers for this kind of products are banks, retailers, money shops and other. Regarding to research with these customers we found that the demand of this product is very high by these customers as this is telling us as the company the product will be highly successful.
Financial
As the company we have already secured our fund of the business from the owner of the company that will be established Mr Salem Naamat will start to invest of this business by €100,000 which is this will be good for starting as the company. Also, we have done forecasting budgets for the all expenditures that we need and the all expecting sells of the products for 5 years coming. The first year we found that we will make net profit of € 58,844, the second year found that will make of € 104,324, the third year found that will make of € 137,950, the fourth year found that will make of € 182,467 and the final forecasting year found that will make of € 229,484. All of these expecting income compared by demand of the market size.
Operations
Operation would start with our team of four, Manager of the company Mr Salem Naamat, The marketing and sales will be Mr Moftath Aburziza and Mr Salem Naamat, The financial manager and Accounting will be Dr Nouri AlKassah and finally the technical manager will be Mr Adel Youssusf. These are the main our team operation in the company that will be start with. Also, we have already have looked to our main risk that we might expecting happen with us during working in the company and starting the business. However, we have already found the solution of these risks.
Business Description:
As we have done some research regarding the country that we will start work in it, we found that there is a high of using cash money in the Libyan market for long term, especially after old regime had completely changed in 2011 which this is increasing the cash in hands and one of the main target for us is that to provide a product to saving time for customer and check if these money are not fake. Then we found very good brand calling CASHWORKA PROCOIN, producing their products in Germany as the company is German company and we are still working to sign agreement with them for long time to be present them in Libyan Market. Also, the company can provide one of the best Banknote Counter to count your money and saving your time and make sure that is your money is not fake.
The Product is Banknote Counter for a daily use as if you have a high daily income and you want to save your time and check if this money is not fake front of your customers, as just you will use this machine to save your time and check.
These new future plans for my business and company in future to be expanded and deliver more services and reached more income.
This’s just one step of my target as I will use this product Banknote Counter to make money and increase my income to develop my company as then I will try to focus on new CASH Technology solutions for examples
- Financial Institutions (Assisted Service and Teller cash recyclers)
- Retail (Retail point of sale and Retail back office)
- CIT / Cash Centres (Note counters, Note sorters and Coin solutions)
- OEM (OEM cash dispensing, Cash deposit and New technologies)
The Company
Dar ALSaraya Cash Technology Solutions Company will be located in Tripoli-Libya. The company will be wholly owned and operated by Salem Naamat and his excellent staff and the company will be focusing to sell banknote counter as one of the best solution for Libyan market as nowadays in Libya is using cash money in hands more than other sources of technology payment.
The company will be registered under of Libyan law on the name of Dar ALSaraya Cash Technology Solution Company. Ltd and we will have file number in Libyan Ministry of Economic.
As we in company we will provide one of these solutions to save time for customers and saving their money from fake money by checking on the banknote counter scan.
Furthermore, the company will have excellent strategy and plan for future to provide different solution of cash technology. As our main expectation that in the future the Libyan market will be improving for new technology and will start to reduce using cash in hands but this is will be in future that mean maybe from now until 15 years later then we already as a company we have planned for that future to use new technology payment for that time such as 1- Retail point of sale and Retail back office 2- OEM cash dispensing, Cash deposit and New technologies 3- ATM machine. All of these new technologies are not available for Libyan market now and before. That is telling us the future must be prepared from now. Also as we are lucky in our company because of the company that we distribute behalf of them that they supply these new technology and then in future very easy to bring these new technology to Libyan market when be ready for new technology.
Mission
My Mission is that to helping my customers automate their cash processes to increase high efficiency, enhance security and to provide them high quality, prices and services.
Also, we will be mindful of the well-being of our customers and staff– treating each and everyone with dignity and respect.
Objectives
These are the main our objectives as the company to be in best position.
- Profitability: our target that is controlling the cost in both production and operations while maintaining the profit margin on products sold.
- Customer services: The aim of our company is that to make all our customers are feeling happy by taken care of them and provide best customers services.
- Employee retention: The aim of the company is that to make our employee have a good lifestyle during working in our company as to receive a high work for long term for the company.
- Productivity: Our aim that to provide all the best resources and training for our employee to achieve a high demand of productivity.
- Growth: As in our company, we already planned to make new future products to keep our company growth and to achieve a high value of company growth.
- Maintain financing: The aim of our company that to keep our maintain of cash flow needs and expanded the finance organization to keep always being in growth way.
- Change Management: The best plan for our company that is to make future change of management is to create a dynamic organisation that is prepared to meet the challenges of our industry plan.
The Market and Industry
General Information about Libya
Just let me give you little information about Libya is a region of North Africa, bordered by the Mediterranean Sea to the north, Egypt to the east, Sudan to the South, Chad and Niger to the south and Algeria and Tunisia to the west. In addition, Libya is a large country with a population of 7 422 772 (2011), 90% of whom live in the coastal 10% of the land area.
Libya covers an area of 1 750 000 km2 and has 1700 km of coastal frontiers. In addition, a rich country with high oil revenues, it is an Attractive destination for workers from the neighbouring Arab states. Libya is the fourth largest country in Africa. The Capital of Libya is Calling Tripoli as where is a big market and as this market supply to all other parts of Libya.
Libya is an upper-middle income country, with the highest per capita gross domestic product (GDP) in Africa as a result of the oil resources. Annual growth in GDP averaged 7.99% from 2000 to 2012 and it reached 122% in December 2012 following a fall of 60% in December of 2011 as reported by the Central Bank of Libya. Annual economic growth fell again to -6% in 2013 due to political instability, but World Bank forecasts from the World Development Index gave expected growth of 23% in 2014. The Gross Domestic Product-GDP is USD 51.4 billion (2017, estimate)[1].
Furthermore, the main resources of Libyan country are oil, gas and gold[2]. Libya has the 9
thlargest proven oil reserves of any country in the world.
As Central Bank of Libyan announced in news in 2017 and even recently in this year 2018 that there is high cash in Libyan Market .The Cash in Libyan market around 27.1 billion[3] . Which this is one of the main reason that encourage us as a company to sell this product because there is a high demand of using cash in Libyan market.
Regarding of our research about Libyan Market, we found that the main user of Banknote Counter are Banks, finical companies, private companies, motor car exhibition, Retailers, Money shops and any other types of shops has a lot of daily or weekly incom [1] https://www.gfmag.com/global-data/country-data/libya-gdp-country-report [2] http://geab.eu/en/top-10-countries-with-the-worlds-biggest-oil-reserves/ [3] https://www.alaraby.co.uk/economy/2017/8/27/?????-27-?????-?????-???-?????-?????-?????????