U-CASH dealership offer

[Kanchan Khisa]

Hi everyone,

I received a call from Orkid Chakma (mob 1610002902) the Area Manager of U-CASH program of United Commercial Bank Ltd.

U-CASH is  similar program to BKash. U-CASH has 2 main clients:

1. General customer (like BKash)
2. One House One Farm project beneficiaries (Bangladesh govt has contract with U-CASH for this only).

I presume cash remittance program through mobile banking is a growing business and has a very good prospect for long term business. I heard that Dhiman da is making very handsome margin through BKash dealership in Khagrachati.

They are looking for an ideal Jumma dealer in Khagrachari to run the U-CASH ptogram. If JIL is interested, one of us (Subrata babu or Shubhashish babu) can discuss with him (phone number given above), for detailed terms and conditions.

Please share your opinion of what you think of this.

Regards
Kanchan

Please share

sent from Samsung Galaxy

[Subrata Talukder]

Dear all,

Thanks for Kanchan for your information about business opportunity. There is no doubt that we all want to expand our business with profit. However, our main problem is that we could not be able to spend time for this. I can consider this business opportunity if other directors would agree.

Best regards

Subrata

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From: Kanchan Khisa <kancha...@gmail.com>
To: "jil-2010@googlegroups com" <jil-...@googlegroups.com>
Sent: Tuesday, August 5, 2014 1:27 PM
Subject: JIL Message U-CASH dealership offer

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[Kanchan Khisa]

Thanks Subrata da for your prompt response and comments.

Let's see what other members are thinking of it. 

Regards

Kanchan

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[Shubhashis Chakma]

Dear all,

Thank you Kanchan bhai for your proposal. Thanks a lot also Babudagi for sharing your thoughts.

A few days back, I was just talking to Babudagi regarding an expansion of our business like having a buying house or having established departmental stores one in Dhaka and one in Uttara like Joom Super shop in Khagrachari.

Regarding U-Cash dealership, I don't have problem but no idea on how commission/profit will be generated. Also UCBL is a black listed bank at British High Commission, though not sure why! and just thinking about the credibility of our future relation with  customers. However, if other directors are okay with it then it looks fine to me.

Thanks once again.

Best rgds,

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[Kanchan Khisa]

Many thanks Shubhashis bhai for sharing your thoughtful ideas and comments. Information about operating principles, commission rate etc. can be clarified by discussing with them. Also very interesting to know about blacklisting it by British High Commission!

Regards

Kanchan

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[Sugata Talukder]

Thanks Kanchan bhai for your proposal on potential business opportunities offered by Mr. Orkid. I think before we proceed for any kind of business expansion, we need to carefully consider the following:

1. Are we really ready for any business expansion given the facts that we are hardly able to manage our existing businesses. We should rather give more focus or attention on our existing businesses for making higher profit margin. Of course, there is huge potential for much higher sales thus higher profit margin from our Joom Super Shop if we have more goods/ inventories in the selves for sales. We have witnessed the sales volume down quite significantly in last couple of months, so it's time to do something to revive the sales volume, inter alia - be it some promotional/ seasonal activities? More diversified items including clothes? Offered bit lowered but competitive price to attract more customers? Etc. 

2. We need to raise fund for not only financing new business expansions (If we decide to go for new one) but also for procuring more goods for existing businesses. Currently my understanding is that we do not have enough fund at Super shop operating bank account for procuring more goods, so if we desire to fill up with more items then there is no other alternative option to raise fund from the member directors. So we have to come to an agreement exactly how much money is needed and accordingly raised as per requirements. 

As all of you know that I was in Khagrachari for last couple of weeks and interacted with all staff. I asked Sujon to make a list of items that need to be procured soon and finally he provided that list with approximate costs of BDT 60,000/- later on I will provide a scanned copy of this for your information. 

Sujon also informed me that he has been having some problem with one of his staff who is not adhering to his suggestions to attract more customers. The staff is rather reluctant to listen to him. Anyway, up to right now, this is not a serious issue and I advised him to see and wait a couple of months for change and if the staff does not change then we can think of taking some remedial action, because we can not afford jeopardizing their team spirit. 

The sales volume of last month (EID month) for BATA shop was encouraging. It has crossed BDT 350,000 mark for the second time if I am not mistaken. Again after two months another EID month will be in the headway so need to act accordingly. 

Finally, regarding the new business opportunity, what is the harm of knowing what kind of opportunities they offer. After knowing this info, then it will be easier for us to make Get-go decision. 

Sorry for a bit long email. See you soon. 

Best regards,

Sugata

Sent from my iPhone 5

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[Kanchan Khisa]

Dear Sugata bhai,

 

Thank you very much for your analytical views and comments. These are very much useful ideas, indeed.

 

Yes, I agree that we need to pay more attention to Joom Super Shop for increasing the product stock and also for diversification. We can brainstorm on what items could be accommodated e.g. garments/ locally weaved jumma clothing/ handicrafts/ electronics etc.

 

However, I am little confused, in other words it is not quite clear to me why the capital base is declining at the shop? It is assumed that the invested capital would go up from the reinvestment of sales proceeds without requiring further investment from members. In the couple of years, it did not require additional fund, it went on with the reinvestment of sales proceeds.  That is why it worries me a bit whether it is becoming a losing concern or might there be other reasons?

 

Regarding the issue of staff attitude towards the customers, I think it is important to provide basic on-the-job training to the newly recruited staff. They might not have any prior experience on dealing with customers. This orientation could be given by either Bata, or anyone of us while visiting Khagrachari, or by Sujan at his capacity.

 

Finally, for the U-CASH, if you all think that there is no harm in knowing about the terms and conditions or commission rates, then someone (Subrata babu/ Shubhashi babu or Sugata babu) can talk to Orkid. He might be waiting for a call from us.

 

Many thanks

 

Kanchan

 

 

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[Sugata Talukder]

Thanks Kanchan bhai. I remember, if i am not mistaken that some of you mentioned before that some funds from Joom Super shop account had been utilized for Bata Shop and that fund has not yet been transferred back to that account.  Apart from this, I came to know from Sujon that as of last week, the account (Pubali Bank) balance stands at approx. BDT 6000/- and cash in hand only BDT 15000/-. so we do not have enough cash to go for further procurement (as Sujon estimated we need to procure at least BDT 60,000/- worth of goods for the shop). Anyway, this is what I thought and you guys know what best needs to be done. For your information, please find attached the list of items to be procured prepared by Sujon.

Best regards,

Sugata    

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____________________________________________________

Mr. Sugata Talukder I The World Bank I Dhaka, Bangladesh

Ph + 880 2 8159001 - 28 Ext 4322 I stal...@worldbank.org