Best Price

Problem:

1. Communication gap between buyer and seller

2. Heavily Dependent on third party like driver, technician

3. Traders require investing huge money for opening up new outlets to expand their business in new areas

Solution:

1.Vehicle owner will receive multiple price offers from different supplier which gives a clear indication of price

2.Traders can serve all the customer on the platform which allows them expand their business beyond their geographical area

Impact :

1. The platform will reduce the cost of doing business by eliminating the geographical boundary barrier of the current business model

2. Vehicle owner will get empowered in terms sourcing their products which will save them time and money 

Currently there are 3.5 million Vehicle registered according to BRTA in Bangladesh. Big Names like Honda, Suzuki and other companies are setting up their assembly plant in Bangladesh

The auto spare market size is around 5 Billion USD which will twice as much by 2021. Currently most of the vehicle owners are dependent on their driver and technician. Because of the dependency vehicle owners are deprived of sourcing the right parts at right price.

Traders are geographically confined in their location because of the current business model. Outlet in the prominent location is their only way to reach customer. Traders cannot expand their business because of huge investment required for the infrastructure.

Our platform will enable the whole industry to use their resources to its maximum potential. The entire industry will operate on a much efficient model where we will be able to provide product, demand and price forecasting through our big data analysis capacity

We are serving the following categories

1. Vehicle Owner (Private and Corporate office)

2. Traders

3. Technician

4. Parts Importers and Manufacturer

Solution that addressing the needs

1. Vehicle Owner can source the right product at right price based on the reliable information they receiving through our platform. This is reducing their dependency on the third partly like their driver and technician

2. Traders can reach all the customer across Bangladesh without spending any money. This will increase their business opportunity and reduce the business cost as well

3. We can forecast product demand which we can provide to the traders and importers to maintain their inventory  

Best Price is a B2C bidding platform for our solution. Through our platform vehicle owners can reach the traders in a matter of seconds and can source the right parts at right price.

Currently we are operating on a B2C model. But soon we will launch a B2B model where the parts importer/manufacturer can communicate with the trader through our platform which will make the logistical challenge a lot easier.

This is the first market place of its kind. Our solution solves the dependency problem of the vehicle owner on third party for sourcing their auto spare parts.

It also solves the problem of supplier where in current business model they are geographically confined. Outlet in prominent location is their only way to reach out to customer.

No one as of yet has provided a solution where they can on board all the related parties (Vehicle owner, trader, technician, manufacturer) in one platform. We are bringing all of them in one platform.

Through platform manufacturer can get direct feedback from the user.    

The only cause of this problem is "Lack of communication problem among all the related parties". We are taking the help of technology to breach this gap.

Till date we have 23 thousand registered user, 2 thousand suppliers and we have more than 15000 quires recorded in our system

Currently Serving : 25 thousands

In one Year : 50 Thousands

Five Year : 1.5 Million

2020: Concentrating on growing the user base

Long Term : 

•Big Data analysis  

•Product demand, pricing forecasting

•Create a community

•Adding the service industry in the loop

•Start operating on B2B model

1. Educating suppliers to familiarize with the system

2. Vehicle owners discomfort on the quality of the product purchased through online platform

1. We are training the suppliers one by one so that they get familiarize with the system

2. We are trying to create awareness among the vehicle owners about the eCommerce platform 

Our team consist of 10 Members

Full Time : 6

Part Time : 4

I (Founder) am an electrical and electronics engineer. I have worked as a team leader for big companies where my job role was to implement and monitor key industrial project. I have completed all the assigned task along with my team members successfully.

My educational back ground and job experience both will help me for the current  project I am working on. My educational back ground will help me understand the technological side of the product. And my job experience will enable me operate my team successfully. 

We have a CFO who has 5 years working experience. To understand the market operation properly we have an supply chain expert (Phd enrolled) in our team along with a experienced auto motive engineer  

1. We are operating on a commission based model

2. Advertising through big data analysis is our long term goal

At this point we are generating revenue. But we are planning raise investment soon to accelerate our growth 

This program will allow us to fast forward our growth by emphasizing on the key points like marketing, team building, finance and other points in a structured way under experienced mentor of this sector. It wills also us to grow our network as well