The love and joy that come with adopting a pet make all the work involved well worth it. When you wake up at 5 am to walk your dog or scrape out the bottom of your cat’s litterbox, it’s all for the rewards of the cuddles, snuggles and companionship they give you in return. Taking care of your pet’s health while balancing your finances, however, can be a bit trickier.
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I am exploring opening an agricultural technology company. I am literate in mathematics/statistics so I have gone about calculating what I believe would be a fair simulation(albeit an overestimate) of what is the Initial Overhead, Monthly Expenses, and Monthly Revenue. The issue I experience is that at the end of the month, I have calculated my monthly revenue to be $ 19518 and my monthly expenses to be $ 17646, leaving $ 1872 "profit" unaccounted for. Each operation will cost roughly $ 200k overhead to set up(again, likely an overestimate), and is directly scalable.
I am unsure if just given these macro numbers I can justify dedicating the time to pursue this venture. One place I see that can be trimmed is that the expenses calculate in the payment of an Agricultural Scientist a contracted salary of $ 62,000 a year. This could be simplified with automation(which I have planned out in my schedule to personally complete this summer) that would diminish the requisite employee salary for this and subsequent operations to ~37,000 given the price for unskilled labor where I intend to open shop. To me, this does not appear to be a gamble that would net me greater profit than what I could otherwise make risk free by dedicating myself to my own job and intra-business mobility. Am I being totally blind to something?
I am wondering what makes more sense:
I have a small corporation with a cofounder, and we are not paying ourselves a salary.
We are however expensing personal living expenses (rent, internet, food) to the company
Is this a better route for tax purposes, or paying myself a small salary so I can cover those things with my salary.
Seems to me that second route is more clean and easy to explain, but wanted to hear others thoughts
What do investors usually request when it comes to numbers? I have presented a quick revenue demonstration but they insisted to come back with P&L or operation expenses sheet? Anyone here is capable of doing or at lease show me the best way of any resource I can copy? This is mainly for SaaS business.
Many thanks in advance
Earning rewards for making purchases sounds so cool right? It might seem a bit unrealistic, but Joko, the cashback app makes it possible. As more and more brands are adopting incentive-driven customer acquisition strategies, we, as consumers, have come to expect some sort of incentive for all our purchases. Therefore, apps like Joko have become a sort of necessity. It’s not only convenient to use, but it can also help us save money.
€10M in funding
Based out of Paris, Joko is a mobile app that rewards its users every time they spend using its bank card. The French company has raised €10M in funding led by Partech and Axeleo to accelerate its platform growth and double its workforce by the end of this year. This brings the total amount raised to €12M in two years.
Founded by Nicolas Salat-Baroux, and Xavier Starkloff in 2018, the Joko app is free on both Google Play Store and App Store. To make use of rewards, users need to connect their bank cards to the app. Post every shopping, the user is notified when cashback is credited.
Since 90% of spendings in France is still done in-store, Joko rewards its users for both online and in-store purchases. Joko says the cashback is applicable in various sectors including Food, travel, shopping, beauty, furnishings, and DIY.
According to Joko, the technology behind the app is based on the Open Data initiative enabled by the PSD2 (Payment Services Directive n°2), so it’s safe and secure.
“Our mission at Joko”, says Xavier Starkloff, co-founder, and CEO of Joko, “is to make everyone’s life more rewarding, and make sure that part of their spending ‘goes back into their pockets’. If we were already convinced that everyone, everywhere and at all ages, likes to be rewarded, the current context and the uncertainty that can weigh on the purchasing power of the French has only strengthened our value proposition. Our users tell us that the additional income generated by Joko makes a clear and appreciated difference in their daily lives”.
Aims to be a global cashback player
To date, around 500k users have benefitted from cashback offers and more than 1,000 retailers have partnered with Joko to reward them daily. As per the company, users have collected over €1M in cashback from well-known brands in total.
For retailers, Joko’s value proposition is simple: acquire new customers and retain them at a low and controllable cost. The impact for merchants using the app is huge since the customer acquisition costs are halved on average and a 20% increase in average shopping baskets and purchasing frequency.
Many retailers including Leroy Merlin, Franprix, Galeries Lafayette, Aldi, and BUT have trusted Joko to boost their revenue. Additionally, the pure players including Asos, Cdiscount, Heetch, Cityscoot, Birchbox, ManoMano, etc. chose the company to help them reach their growth targets.
After France, the company intends to become a global cashback player and aims to reward hundreds of millions of consumers daily. Joko is currently hiring across all teams – Tech, Product, Marketing, Support, Sales, Operations, Account Management, among others.
Main image: Joko
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