₦airaland Forum

You welcome daddyfowl, u started it we just helping out, tanx to you too
Your points gives everyone a good summary of what is expected... Nice one..

angelsmartty:
@kaysy I think you've gat something good... pls any idea when this submission of form will end?

January or February..... For sure... So submit, leave d rest to God, and go on with your usual business until we hear from them....

kaysy:
Yes Ooooo... my questions has been answered... back to work. Thank you so much for all the answers. KAYSY

**Modified**
@openmine & Chikwuka12 and other YouWin 2013 Winners, kindly review my latest computations, think i just understood what u guys have been saying hence i have this values on ground now... Please review it. Thanks

It looks much more realistic, personally I think it OK, however I will still say DAT if u where OK with your initial 1.2m per month u can leave it at that, or 1m.
But its OK.

Lovely. Thanks alot. Hoping to start soon no matter how little

Kaysy, kindly note that your minimum equipment cost can not be greater than your capital cost..
Like I said earlier add up your capital cost land, building, generator and so on.. Den for your minimum equipment cost mention the most important equipments needed and it still can't be greater than the 40%.
I don't no the business you are into, but what YOUWIN wants is that u are expected not to use more 40% of their grant on capital cost, meaning that any extra cost of capital will be on you... You will have to contribute any thing above the 40%.
Hope this helps.

If u can sell up 1.2m in a month pls go ahead, no need to adjust it cuz it means u will break even in fewer months.. So u can go with your initial selling price.
However from what u have said so far your capital cost can't be 2.5m. Capital cost consist of all equipment , land, building etc. So you have to increase d capital. It makes more sense having 2.5 as minimum equipment cost. Take your time and add up all ur capital expenditure..
Remember its only equipment cost they are asking for and not including operating cost.

If by God's grace you scale tru to d 2 stage, you will be asked to give a detailed cost of all items that make up your capital cost, operating cost etc.

Well said..
1. Simply put zero if u are not accessing any loan for your business.

2. Its not a bad idea for u ur family to make a little commitment into your business even 200k or 500k or more... U are sending a positive message.

3. Open mine has answered it well

hmbs:
I have a good news for the house.Accessbank hss finally opened our accounts.its now ready for use.thanks fellow awardees for the encouragement.

Lovely, nice one. Congrats.

blink182:
Please can you give me a template for calculating break even point and answering the financials

I don't have any, and am not vast in that area, however my little understanding is
BEP= fixed cost divide by contribution.
Where contribution is price per unit minus cost per unit.
Its gives u the total units to be produced to break even.

But like I said its not one of my strong points, am sincerely not good DAT area....

@ Kaysy, are u sure u can sell 1.2m monthly?? Never over promise and under deliver... 1.2 is on the high side. You are contradicting your self. Ur capital cost is above 2m, your minimum equipment cost can not be 7m, it will definitely be below 2m. Your equipment is part of your capital cost, so what is d minimum u will need. Openmine has given u a clear picture.

@bluedahlia. Your break even is simply saying given all my expenses(total grant and any contribution from your end).. This is when my revenue will equate my cost. After which u start making profit. So u add up everything. It is a forecast you are making, its not based one disbursement. But the full grant....(that's my understanding)

Bluedahlia:
will 24months be a good return time for business break even? and what if operational cost needed is small that the remaining 60% is too much for. what do you do with d rest figures?

I sincerely think 24 months is too much, remember that Youwin will monitor your business for a year b4 leaving you. One year or less is perfect. They are expecting u to creat employment sharp sharp.... 12 months is good.

Just as I said earlier stop working around the you win grant. First sit down and do your analysis based on what you want. After which u den compare with your Uwin grant. You must not request for 10 million. Request for what is needed. During the last Youwin some requested 9m but only 2m was approved..... They will really scrutinize anything you put down...

hmbs:
House,pls have u all collected your cheque books?At Accessbank,they have not even touch our account opening documents.wahala dey o o

How far?? Any progress??

@Kaysy its not OK, u completely wrong in your analysis. Blink182 is right. Go tru again and ensure your capital expenditure is not more Dan 40%. You can not use over 70% of your money on any capital expenditure.. It is not viable.

@Debeginin I think u are getting it all wrong, note that its not a must to request for 10m. U trying to work your proposal to reach 10m or more. What I think you should do is ... With an understanding of what business you want to go into, make your estimates based on your idea. See how much it is and den stream line towards d grant. By d way don't promise what you can not deliver.... Do u have 3million to contribute now?

Denn well said... We all have the right to talk to the branch manager directly... Its your right. However if they play u or u not satisfied..
CALL THEIR CONTACT CENTER and u get all issues resolved within 24 hours. Its a fact!!!!

debeginin:
Shd one take SALARIES into cognisance?
And shd it be based on d first grant or the total grant?If it's d first grant,hw much is d first grant?

Pls you take everything into cognisance, salaries, raw materials, fixed costs etc...
It is based on the total amount you are requesting for, not 1st or second trench.. The TOTAL AMOUNT. Besides you can't know how much the 1st grant is until you finally win and sign your legal agreements..

Bluedahlia:
like how long do you think a good business should take to break even. am trying not to be over optimistic with the numbers

It matters on your business, the main thing is... From your business plan and forecast when will your total revenue be equal to your total cost....

hmbs:
House,pls have u all collected your cheque books?At Accessbank,they have not even touch our account opening documents.wahala dey o o

Like seriously? Dats not funny...
Pls if u have an access bank card check the back you will see a contact center number, if u don't ask around for who has one, go to d bank And get the number.... Call dem.

And inform them of you displeasure with their services.... Inability to open an account for over 2 weeks... I assure u that account will be opened in 24hours. It's a BIG service issue...

I think to move our team forward Wenger has to go.... We created all the chances, but could not score, the very few chances man u had they used it well... Wenger has tried... He should go.. We need good finishers.

Nice one, well said... This is a once in a life time opportunity and I think it will be folish to be thinking of luxury.... To enjoy this luxury... Simply dedicate all you have time and the Uwin grant, and BREAK EVEN... Den u can do what you want...

We must have the vision to expand our busines not just being satisfied by what the grant can do for us....
May God help us all...

Anything can actually happen..... Praying for God's favour.

That's very true.... Nice one... Simply develop the points stated....

With this survey, it means that its until decemeber (hopefully) that we may get our 1st trench.....

https://www.nairaland.com/1997905/youwin-4th-edition-here#28120353

You are right, YOUWIN4 can visit the link above...
We can also check it out to support them...

I think that you should use your registered address on your CAC document if you have not gotten your business address yet. You can't put an Address u have not gotten yet. Your house address will be fine.....my thoughts oh...

Nice one daddyfowl..
You must also show that you have experience in the business u are writing on, show that you not a novice.
Also do enough research on your area, u can not know it all. Even after guidance from this thread you must search materials on related topics.
Most importantly you must visit those in the same line of business to have 1st hand information, know their challenges. Everything not theory, practical also key.....
Best wishes....

Tomorrow is a good shortly...

strigger:
I was in the banquet hall when she made her speech and i was so eager like you but i did not hear say ' immediately' but she used same word like president 'SOON'. Except if she grant i nterview after the ceremony when we were still eating inside.
I think it may be next week sha!
My feelings sha oh!

Its well oh, it was on d news I TUT I had it, tanx 4 d correction. We pray it happens soon....

We are looking like lucozed....
I tut I ova heard Finance Minister say disbursement will start immediately.... May be immediately never reach...Lol

ciscaos:
sorri i can give out my materials because that is my business plan. but if u have any questions hesitate to ask.

Nice one CIscaos, I think I am also available to assist, however it has to be rh area were the person is not clear in any area of his or her work... What area are u in to, what challenges are u facing in answering the proposal. Then we no how to assist...

jeffmyson:
I would rather suggest that people who are Youwin 4 applicants should open a new thread to synergise together and work issues affecting them out.

It has already been done, if they check De will see it.. There about 2 or 3 threads on that....

Just had on d news that disbursement will start immediately... Let's watch and see

jeffmyson:
@neksummi, its only for existing business! Both Youwin funded and other existing business can apply.

Pls any update on wen d trenches will begin.

Tanx guys for d update. However have De mentioned when d 1st trench will be hitting our accounts...

Pls was any one invited from Lagos or port Harcourt Want to know if its only those close to abuja that were invited...Still not sure I can make it...