‘We procure, brand and deliver souvenirs, gifts’

Olaleye Luther Lawoyin, an undergraduate and CEO, UberGood Ventures, owner and promoter of lucy.ng speaks on the opportunities/prospects and challenges of running his online souvenir/gift business in this interview with OLUYINKA ALAWODE.

Business

At UberGood Ventures, we procure, brand and deliver souvenirs, gifts and promotional items for all kinds of occasions and events in Nigeria. We also procure branded corporate gift items for companies and institutions.

Customers can place their orders on our website – lucy.ng or via our phone numbers available on the website or through email or our social media platforms such as twitter, histagram, facebook.

Starting out

I started the business April, this year. The inspiration came when I witnessed firsthand how stressful it was to get souvenirs and gifts to be distributed at the weddings of my family members while having to organise several other things. I would personally have outsourced this aspect then but I could not get anyone offering the service. It then occurred to me that people would pay for convenience just as I was also willing to pay. So I started out researching and building the business.

Startup funds

I started with funds from self, family and friends. In terms of external funding, I have not received any support, however Microsoft and Fate Foundation have supported us by training me on technology and business know-how respectively.

Knowledge is power, the lectures I received at Fate Foundation during that training sponsored by Microsoft has really helped. It was like a mini MBA. It has helped me and the company to put a lot of essential groundwork in place for the business.

Microsoft has also helped us to leverage the power of technology to our advantage, the power of cloud technology is going to help us scale up our business faster than previously planned or imagined.

Service

Lucy.ng is an easy to use web and mobile based platform where customers can browse through different gift packages and options, order and brand to their specification, then have it delivered to their doorstep or event center. We offer as a service the following values – convenience, innovative branding and packaging and quality products from reliable producers or suppliers at standard market prices.

Target clients

Women are usually the ones that organise souvenirs for their family/friends’ event. We also target wedding and event planners, retailers, advertising agencies, corporate institutions, multinational companies and so on.

Background

I am a business administration student of the University of Lagos, I also co-own PassExam Ventures, owners and promoters of passjamb.com.ng and passican.com.ng – Nigerian test preparation sites.

Challenges

Delivery and logistics of the items initially posed challenges. When we first started we had issues of over pricing by delivery partners. Their charges were too high given the volume of orders we procured, so we had to implement pick-up spot strategy easy for customers to pick their goods. This offer is for customers who cannot afford door to door delivery of their ordered goods outside Lagos.

Staffing

We have a mix of both full time and part time employees. Firstly, we make sure our staff members are qualified and capable to fill the roles we hire them for, we then give them the training required and room to be the best they can be at what they do.

Business environment

The Nigerian business environment is as challenging as any environment and even more challenging because of unnecessary overheads caused by lack of basic infrastructure. But it is also a fantastic environment given the fact that it is an emerging market with a teeming population, there is market for any good and relevant business idea.

Government role

Businesses need basic infrastructure, appropriate and fair taxation, the government should see to that.

Advice

My advice to young people is this – ‘Live the life you love , love the life you live and better still love what you do. Passion counts a lot in an environment that is this tough.’