What is your idea / business and to whom is it addressed?
Store256 is a Ugandan local drop-shipping cum online shopping store that seeks to offers wide range of men's clothes, shoes and other accessories. Customers will be able to shop seamlessly online with our website which includes a host of new features including seamless shopping, faster check-out with a secure payment processor for Mobile Money, Visa, and Mastercard.
How should the idea/business earn money?
Dropshipping is a retail fulfillment method where a store doesn't keep the products it sells in stock. Instead, when a store sells a product using the dropshipping model, it purchases the item from a third party and has it shipped directly to the customer. Here's how dropshipping works, the customer places an order for a product on Store256 and we collect the money. We forward the order and shipping details directly to our dropship supplier and pay the agreed upon wholesale price for the product, and the rest is profit.
At what stage is the idea / business at the moment?
The business is established with an office and online store ready and fully functional. We have also started adding products and setting up marketing campaigns. The required funds will be used for the paid online advertising and the cash-flow for 3 months.
What do you need?
Seeking angel investor for a convertible loan of $5,000 at 20% interest per year and a10% Discount.
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