Startup AddVenture Cairo 2015 - Filkhedma
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This document summarizes a startup competition presentation for a Egyptian household services company called FilKhedma. The company addresses problems in Egypt's household services market like lack of quality assurance, security, and price transparency. FilKhedma connects users to reliable, background-checked technicians through an online platform. It has grown to 370 orders in its first 4 months and projects revenues of $200k in its first year. The company is raising a Series A round of $200-300k to expand operations and develop new products like online ordering.
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Startup AddVenture Cairo 2015 - Filkhedma
- 2. February 2015 Checks classifieds Egypt’s Concierge for Household Services
- 3. The Problem with Household Services in Egypt No Centralized Venues Lack of Price Comparison Lack of Security Unreliable Quality
- 4. How the Service Works for Users
- 5. How the Service Works for Users
- 6. How the Service Works for Users
- 7. FilKhedma’s Value Proposition • Quality assurance • 5-star hotel standards • Trustworthy technicians • Background checked • Reliability of service • Call center / online support • Clear price • Based on preset hourly rate
- 8. Target User Segments • Young families • Upper and upper middle income class in big cities • Newly weds or couples with young children • Families with teenagers • Upper and upper middle income class in big cities • Married couples / parents of age 45-65 • Upper and upper middle income class in big cities
- 9. Our Team Founder & CEO • investment management and investment banking at EFG- Hermes. • MBA from the Wharton school, University of Pennsylvania. • San Francisco based startup, SoFi COO & Consultant • 20+ years of experience in hotel engineering and maintenance at several five star hotels in Egypt. his most recent role is director of engineering. • Facility management. • Bachelor’s degree in electrical engineering from Cairo University. Chief Engineer • 15 years experience in hotel maintenance as maintenance manager • Negotiating offer Omar Ramadan Khaled Samir …
- 10. Online Marketing Social Media (Facebook) Viral Videos Community Outreach • Communicating value proposition and how service works • DIY posts • Competitions • Targeted SMS and email campaigns • Informal Whatsapp message recommendations • Posts to online forums of gated communities and neighborhoods • Produced low cost short videos communicating value proposition in a humorous way • To be launched on Facebook and Youtube
- 11. Offline Marketing (Hyperlocal) Corporate Offers to Companies • Agreements with gated communities, local supermarkets, pharmacies and fast food delivery Installation services Flyer Distribution • Corporate offers giving discounts to employees at large corporates • Negotiating with furniture, lighting stores and hardware stores providing installation services for their customers
- 12. Relationship with Service Providers • Physically present at the dispatch office during their shift • Their presence is crucial to ensure reliability when responding to emergency orders • They only need to perform a one hour long service per day order for FilKhedma to generate profit on their full time salaries Full time Employees Order Takers 1 2 • Have their own outside full time or part time work • Are on call to receive service orders and get paid a fixed amount per order • FilKhedma makes a commission on each order performed • Receive all training and show up wearing FilKhedma uniform at the customer’s location
- 13. Financials 1st 4 months of operation Startup costs of $ 20k 370 orders Revenues US$ 10k Year 1 Orders Revenues 11k orders US$ 200k We are raising.. Series A US$ 200-300k
- 14. Future Product Development Picking rated service providers Online order Automatically sending SMSs to service providers and they accept by SMSing back 1 2 3 Payment through mobile banking 4 5
- 15. Reference Slides for Q&A CEO
- 16. Household Services Market Analysis • Huge demand • ~100% of market uses individual service providers • Users usually ask friends and family for referrals of good technicians or they just ask their janitor to find someone randomly around the neighborhood Maintenance Services Housekeeping Driving, Tutoring, Babysitting,…etc. • Huge demand • Individual service providers and some small scale informal contractors dominate the market • Users find service providers also through referrals or contractors for a commission • Demand is mostly for full time housekeepers and A-class users prefer foreign service providers • Many different smaller verticals • There are few competitors providing formal services but would not account for even 5% of those verticals
- 17. EGP$ 31,500$$ EGP$ 21,600$$ EGP$ 19,200$$ EGP$ 17,400$$ EGP$ 14,000$$ Rough Attempt at Estimating Market Size (Accurate figures unavailable) Annual Average household consumption (EGP) 40% of households Assuming 10% of their consumption is spent on those services Annual market size of ~US$ 2.5bn
- 18. • We recruit our technicians from diverse backgrounds, but ensure the majority have been employed in professional maintenance teams before FilKhedma • Sourcing through agreements with NGOs, employment agencies and technical institutes Recruiting Background Check • We review their criminal records and all personal documentation Interviews • We interview each applicant thoroughly based on rigorous quality standards to ensure best: 1. Technical capabilities 2. Work ethic 3. Customer service mentality Technician Hiring Policy 5 star hotels Maintenance companies Freelance experience
- 19. Clear Pricing Light maintenance EGP 30 Medium maintenance EGP 100 Heavy maintenance EGP 200-400 Full day maintenance EGP 500 Customers pay for just the value of the work our technicians get done… • Quick 5-10 minute inspection and maintenance • Transportation & taxes included • 15-60 minute maintenance • Transportation & taxes included • 2-4 hours maintenance • Transportation & taxes included • 5-7 hours maintenance • Transportation & taxes included What you get Examples of what can be done • Fix leak in faucet • Hang a painting • Change bulbs • Fix leak in toilet / pipes • Fix kitchen units • Install lighting units • Major plumbing repairs • Install doors + shelves + hang paintings + • Install > 5 lighting units + sockets • Install bathtub or new pipes • Major carpentry installations • Install new wiring
- 20. Retaining Service Providers Stable cashflow Health insurance Reduced “no shows” and price disagreements Security Value Proposition Retention Tactics • Building a sense of community through hosting events and family gatherings • Hosting skill specific training programs
- 22. The Next 10 Months Raise Capital Feb Mar Apr May Jun Jul Aug Sep Oct Nov Hire Maintenance manager, supervisor and launch second location Launch 2 more locations and 2 more services Hire HR manager, Chief Engineer and Operations Manager Set expansion plan for other cities