Connect with us

Entrepreneurs

The Best Startups of Pakistan in 2018 to Leave Mark in 2019

Published

on

Startup culture in Pakistan has grown exponentially in the past few years, but questions still remain about whether startups have what it takes to survive, mature and scale.

Finding seed funding is where many startups struggle. However, things may be set to change on the venture capital front as big names including Bakery, Golden Gate Ventures, Wadi Accelerator, and Fatima Ventures are showing interest in investing in the Pakistani market.

Here is a shortlist of startups that have already made their presence felt in 2018 expected to go bigger in 2019.

Bykea

Founded: December 2016

Bykea is a local ride hailing service which uses bikes as the primary mode of transportation. Apart from getting a ride, the app allows customers to avail multiple other services such as bill payment, and parcel collection or delivery.

Just like competitors Careem and Uber, Bykea allows its users to track rides and rate them based on the quality of service.

Why are they on this list?

Given the low maintenance and fuel consumption of a bikes, Bykea is able to offer economical rates to its users, compared to other car hailing apps.

Moreover, the app is also available in Urdu making it easier for the masses to understand and use it.

With additional services of collecting and delivering parcels, Bykea is catering to a huge local market and has already shown potential to make it big in the months to come.

CertCars

Founded: February 2017

CertCars makes buying and selling cars easier, eliminating middlemen and connecting buyers directly with sellers. All cars listed on the website get inspected by trained technicians, and they also carry out a detailed photo shoot.

Their service is currently free until the end of 2017, but they will be charging an undisclosed amount from 2018.

Why are they on this list?

A young startup fresh out of tech incubator The Nest I/O, they recently secured investment of Rs5 million from ecommerce portal homeshopping.pk.

MicroPower Labs

Founded: 2015

MicroPower Labs is a technology innovation startup that develops tech gadgets, one of their products being Flash Pack, which claims to be the world’s fastest charging power bank with charging time of 15 minutes.

The startup also aims to launch Cooly in 2018, which they say is the world’s first solar powered wearable cooling device.

Why are they on this list?

With a customer base spread across 35 countries, MicroPower Labs has been able to secure funding from international investors in a very short period, with $100,000 in sales in 2017. The most recent push for the startup came in September 2017 when they secured an equity free grant of AUD $100,000 from the Government of Queensland Australia.

Car Chabi

Founded: December 2015

Car Chabi is a digital car key app that allows users to lock, unlock, start, and secure their car through smartphones. They have introduced many other interesting features for this digital car key as well, such as engine kill, automatically saving parking locations, and pre-heating or cooling the car.

Why are they on this list?

Within one year of operation, the startup was able to generate a revenue of over $30,000 and also secured seed funding worth $150,000 from Treet Corporation Limited in 2017. The first-of-its-kind local app has gained interest of many car owners for both security and convenience.

Patari

Founded: September 2014

Patari claims to be Pakistan’s largest audio streaming platform that not only produces original music, but also the first Pakistani digital media platform that pays royalties to its artists. Users can stream music on the Patari website as well as on its mobile app.

Why are they on this list?

The startup raised $200,000 in seed funding in December 2016 from Sarmayacar, and has since launched many successful projects. Patari’s userbase has been consistently increasing since its launch, and according to Humayun Haroon, co-founder of Patari, they are currently attracting over a million visits and over four million streams each month.

UrduBit

Founded: August 2016

UrduBit is Pakistan’s first Bitcoin trading platform focused on safe transactions and maintaining a level of professionalism that doesn’t exist on the cryptocurrency front locally. The site functions by allowing users to trade directly with each other via the platform, charging a 0.75% trade fee.

Why are they on this list?

Urdubit continues to gain traction as awareness regarding cryptocurrency has increased in the local market. Bitcoin has gained the attention of people around the world who are now looking to invest in this largely unregulated digital currency, and Urdubit shows a lot of potential as a local platform for bitcoin trade in Pakistan.

Courtesy  Dawn.com

Continue Reading
1 Comment

Leave a Reply

1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Anees Shah
4 years ago

Getting funds for your start-ups or business is really a difficult job. List of Startup Investors and Firms which Invest in Pakistani Start-ups

Business

10 Tips to Launch Franchise Business Successfully

Published

on

Franchising has become a popular avenue for aspiring entrepreneurs to enter the business world with a proven concept and support system. However, launching a franchise business successfully requires careful planning, strategic execution, and a strong understanding of the franchising landscape. In this article, we’ll explore ten essential tips to help you launch your franchise business on the path to success.

1. Introduction to Franchise Business

Before delving into the tips, it’s crucial to understand the concept of franchising. A franchise is a business model in which an entrepreneur (franchisee) purchases the rights to operate a business under an established company’s brand, systems, and support (franchisor). Franchising offers a balance between independence and guidance, allowing franchisees to leverage the success of a proven business model while receiving ongoing support from the franchisor.

2. Understanding Franchising

What is a franchise?

A franchise is a contractual agreement between the franchisor (the owner of the business concept) and the franchisee (the individual or entity purchasing the rights to operate the business). The franchisee pays an initial fee and ongoing royalties in exchange for the right to use the franchisor’s brand, trademarks, and operating systems.

How does franchising work?

Franchising works by replicating a successful business model across multiple locations through independent entrepreneurs. The franchisor provides the franchisee with training, support, marketing materials, and ongoing guidance to ensure consistency and brand integrity.

3. Research and Analysis

Before diving into franchising, it’s essential to conduct thorough research and analysis. This includes market research to identify potential locations, target demographics, and competitive landscape. Understanding the market demand and consumer preferences will help you choose the right franchise opportunity that aligns with your goals and interests.

4. Choosing the Right Franchise

Assessing personal interests and skills

When selecting a franchise, consider your passions, skills, and experience. Choose a business that resonates with your interests and expertise to increase your chances of long-term success and satisfaction.

Evaluating franchise opportunities

Evaluate franchise opportunities based on various factors such as brand reputation, track record, financial stability, and franchisee support. Look for franchises with a proven concept, strong brand presence, and comprehensive training and support programs.

5. Legal Considerations

Franchise agreements

Review the franchise disclosure document (FDD) and franchise agreement carefully to understand your rights, obligations, and financial commitments. Seek legal counsel to ensure you fully comprehend the terms and conditions outlined in the agreement.

Legal obligations and requirements

Comply with all legal requirements and regulations governing franchising in your jurisdiction. This includes obtaining necessary licenses and permits, adhering to labour laws, and maintaining transparency in your business operations.

6. Financial Planning

Initial investment

Determine the initial investment required to launch your franchise, including franchise fees, equipment, inventory, and marketing expenses. Develop a comprehensive business plan and budget to forecast your financial projections and ensure you have adequate funding to sustain your business until it becomes profitable.

Ongoing costs and expenses

Consider ongoing costs such as royalties, advertising fees, rent, utilities, and employee wages when calculating your expenses. Monitor your financial performance closely and make adjustments as needed to stay within budget and maximize profitability.

7. Marketing and Branding

Developing a marketing strategy

Create a marketing strategy to promote your franchise and attract customers. Utilize a mix of online and offline marketing tactics, including social media, email campaigns, local advertising, and community outreach, to build brand awareness and drive sales.

Building brand awareness

Leverage the franchisor’s brand recognition and marketing resources to establish your presence in the market. Maintain consistency in branding, messaging, and customer experience across all touchpoints to enhance brand loyalty and credibility.

8. Training and Support

Franchisor support programs

Take advantage of the training and support programs offered by the franchisor to learn the ins and outs of running the business successfully. Attend training sessions, workshops, and conferences to enhance your skills and knowledge in areas such as operations, marketing, and customer service.

Training for franchisees

Invest in training for yourself and your staff to ensure everyone is equipped with the skills and expertise required to deliver exceptional products and services. Continuous learning and development are essential for staying competitive and adapting to changing market trends.

9. Launching Your Franchise

Preparing for the grand opening

Plan a grand opening event to generate excitement and attract customers to your new franchise location. Offer special promotions, discounts, and giveaways to encourage attendance and create a memorable experience for your guests.

Implementing marketing campaigns

Execute targeted marketing campaigns leading up to the grand opening to generate buzz and drive foot traffic. Utilize social media, local advertising, and public relations tactics to reach your target audience and maximize attendance at your event.

10. Maintaining Success

Monitoring performance

Track key performance indicators (KPIs) such as sales, customer satisfaction, and employee productivity to gauge the success of your franchise. Identify areas for improvement and implement strategies to address any challenges or issues that arise.

Adapting to market changes

Stay informed about industry trends, consumer preferences, and competitive developments to adapt your business strategies accordingly. Be flexible and open to change, continuously seeking opportunities for growth and innovation to stay ahead of the curve.

Conclusion

Launching a franchise business can be a rewarding and lucrative venture when done right. By following these ten tips and investing time, effort, and resources into planning, preparation, and execution, you can increase your chances of success and achieve your entrepreneurial goals.

Continue Reading

Business

Unlocking Success: Top 10 Lucrative Business Ideas to Start in the UK for Booming Profits

Published

on

Introduction

In today’s dynamic business landscape, the United Kingdom offers a plethora of opportunities for aspiring entrepreneurs looking to start their ventures. From innovative tech startups to traditional service-based businesses, the UK market is ripe for those with the vision and drive to succeed. In this article, we will explore the top 10 businesses to start in the UK for booming profits, providing valuable insights and analysis to help you make informed decisions and embark on a path to entrepreneurial success.

E-commerce and Online Retail:
The rise of e-commerce has revolutionized the way we shop, presenting a lucrative opportunity for entrepreneurs to tap into the growing online retail market. With the convenience of shopping from home and the potential for global reach, starting an e-commerce business in the UK can be a profitable venture.

Technology and Software Development:
The UK is known for its thriving tech scene, making it an ideal environment for tech-savvy entrepreneurs to launch innovative software solutions and technology startups. From mobile apps to SaaS platforms, there is a high demand for tech products and services in the UK market.

Health and Wellness Industry:
With a growing focus on health and wellness, businesses in this sector have seen significant growth in recent years. Starting a health and wellness business in the UK, whether it’s a fitness studio, wellness retreat, or healthy food delivery service, can be a rewarding venture with high-profit potential.

Sustainable and Eco-Friendly Businesses:
As sustainability becomes increasingly important to consumers, eco-friendly businesses are gaining traction in the UK market. From sustainable fashion brands to zero-waste stores, there is a growing demand for environmentally conscious products and services.

Food and Beverage Industry:
The food and beverage industry is a perennial favourite among entrepreneurs, offering a wide range of opportunities from restaurants and cafes to food trucks and catering services. With the diverse culinary landscape in the UK, there is ample room for creativity and innovation in this sector.

Education and E-Learning:
The education sector is ripe for disruption with the rise of e-learning platforms and online tutoring services. Entrepreneurs looking to make an impact in education can explore opportunities to create educational apps, online courses, or tutoring programs tailored to the needs of students in the UK.

Home Services and Maintenance:
With busy lifestyles becoming the norm, there is a growing demand for home services such as cleaning, gardening, and maintenance. Starting a home services business in the UK can be a profitable venture with recurring revenue streams and opportunities for expansion.

Personal Finance and Wealth Management:
As individuals seek to secure their financial futures, businesses offering personal finance advice, wealth management services, and investment opportunities are in high demand. Entrepreneurs with expertise in finance can capitalize on this growing market by providing valuable financial solutions to clients in the UK.

Event Planning and Management:
The events industry is thriving in the UK, with a constant demand for professional event planners and managers who can create memorable experiences for clients. Starting an event planning business can be a rewarding venture for those with a knack for organization and creativity.

Pet Care Services:
Pet ownership is on the rise in the UK, creating opportunities for businesses offering pet care services such as grooming, pet sitting, and dog walking. Entrepreneurs passionate about animals can turn their love for pets into a profitable business by catering to the needs of pet owners across the country.

Conclusion:
Always remember that starting a business in the UK can be a rewarding journey filled with opportunities for growth and success. By exploring these top 10 business ideas tailored to the UK market, aspiring entrepreneurs can position themselves for booming profits while making a positive impact on their customers and communities. Whether you’re drawn to e-commerce, technology, health and wellness, or any other sector mentioned above, remember that success often comes from passion, dedication, and strategic planning. Embrace your entrepreneurial spirit, take calculated risks, and embark on your path to prosperity in one of Europe’s most vibrant business landscapes – the United Kingdom.

Continue Reading

AI

AI in the World of Discord: Bridging Virtual Communities

Published

on

an artist s illustration of artificial intelligence ai this image depicts the process used by text to image diffusion models it was created by linus zoll as part of the visualising ai

In the vast expanse of the internet, virtual communities thrive. From gaming clans to hobbyist forums, these digital spaces connect people across geographical boundaries. At the heart of these communities lies Discord, a platform that has revolutionized online communication.

1. The Rise of Discord: A Brief Overview

Discord, founded in 2015, started as a voice chat app for gamers. However, it quickly evolved into a multifaceted platform that caters to diverse interests. With customizable servers, text channels, voice channels, and bots, Discord became the go-to hub for communities of all kinds.

2. AI-Powered Bots: Enhancing User Experience

Discord bots, powered by artificial intelligence, are pivotal in shaping the user experience. These bots automate tasks, moderate discussions, and even provide entertainment. Let’s explore some popular AI bots:

a. MEE6

MEE6 is a versatile bot that assists server administrators. It can track user activity, assign roles, and even generate custom commands. Its AI-driven moderation features keep conversations civil and respectful.

b. Dyno

Dyno is another powerful bot that automates administrative tasks. From managing invites to creating custom commands, Dyno streamlines server management. Its AI learns from user behavior, adapting its responses over time.

c. Dank Memer

Dank Memer, a humorous bot, adds a touch of levity to Discord servers. It generates memes, quizzes, and even currency systems. Its AI algorithms ensure fresh content and witty responses.

3. AI Worldbuilding: Crafting Immersive Environments

Discord servers often host role-playing games (RPGs) or collaborative storytelling. AI-driven tools aid in worldbuilding:

a. AIDungeon

AIDungeon, powered by OpenAI’s GPT models, generates dynamic narratives. Players input prompts, and the AI constructs intricate storylines. Whether exploring fantasy realms or solving mysteries, AIDungeon sparks creativity.

b. World Anvil

World Anvil assists creators in building detailed fictional worlds. From maps to character profiles, this AI-enhanced platform organizes lore and encourages collaborative storytelling.

4. Challenges and Ethical Considerations

As AI infiltrates Discord, ethical questions arise:

a. Privacy Concerns

How much data should bots collect? Striking a balance between functionality and privacy is crucial.

b. Bias and Fairness

AI algorithms can inadvertently perpetuate biases. Developers must ensure fairness and inclusivity.

c. Authenticity

Can AI-generated content truly replicate human creativity? Striving for authenticity remains a challenge.

5. Conclusion: The Future of AI-Driven Communities

Discord continues to evolve, and AI plays an integral role. As technology advances, we’ll witness even more innovative applications. Whether it’s organizing events, moderating discussions, or crafting fictional worlds, AI is shaping the very fabric of virtual communities.

So next time you join a Discord server, remember that behind the scenes, AI bots are working tirelessly to enhance your experience. The AI world and the Discord universe converge, creating a dynamic space where pixels meet possibilities.

Continue Reading

Trending

Copyright © 2022-2023 AllBusiness,Inc . All Rights Reserved