Storesoko Solutions

Storesoko Trading Solutions is an eCommerce company with a mobile application and website. It offers a more convenient shopping experience.
  • Sector E-commerce & online marketplaces, Mobile
  • Country Kenya
  • Founding date July 2019
  • Stage Users
Our company provides the ultimate solution to trading in Kenya. In a 4 point summary,we curb the rise of unscrupulous middle men in business, provide convenience and quality to our customers as well as ease the spike in unemployment of our young people. Artisans in the informal sector get a platform

General

Sector
E-commerce & online marketplaces, Mobile
Category
Software, Enterprise
Product usage or interact
Desktop, Mobile/Tablet (iOS), Mobile/Tablet (Android))

Business

Customer acquisition strategy
With the current prevailing pandemic situation, our focus is on shifting our efforts of marketing to digital marketing . We also plan to mainstream the current marketing strategies we have been having by improving our brand name in the mainstream media such as radio, billboards and affordable television networks. Bulk SMS sending is a new thing that we have been trying and are almost finishing up on. We also plan to link up with sensational media personalities and influencers to grow our brand.
Revenue model
We generate revenue via channels such as sales of products,advertising sales, licensing/royalty/commission fees and deliveries. In the financial year 2019/2020 we had projected a total revenue of Kshs 1.7million. After the deductions from the expenses we incur from our daily operations we would end up with a net income of Kshs. 774,821. This projection was however short handed by the outbreak of the pandemic. We however expect to achieve and surpass this in the new financial year 2020/21.

Market info

Market size
$10,000

Total early investment
$20,000
Shareholder structure
Owner type
Name
Equity
Opondo
Co-Founder
% 10
Nyaranga
Founder
% 30
Meyo
Founder
% 40
Moriango
Co-Founder
% 20
Investment round
Angel Investment
Investment amount
$20,000
Equity on offer
% 40.0

Team

Malvin Opondo  - Kenya
Total team member
20
Comment
Last update: 18.08.2020