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Bandy Auto Auction Center

Bandy Auto Auction Center. Prepared for: Joseph Kojo Owusu Prepared by: Development Consulting International, LLC . Presentation Outline. Purpose Site Location Site Plan Project Benefits Project Competitiveness Profit Potential Costs. 2013 Toyota Camry Hybrid

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Bandy Auto Auction Center

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  1. BandyAuto Auction Center Prepared for: Joseph KojoOwusu Prepared by: Development Consulting International, LLC

  2. Presentation Outline • Purpose • Site Location • Site Plan • Project Benefits • Project Competitiveness • Profit Potential • Costs 2013 Toyota Camry Hybrid Source: MotorTrend.com

  3. Purpose Historical Demand for Autos in Ghana: Current Rates and Future Projections: The Bandy Auto Auction Center will: • Serve as Ghana’s only central hub for the exchange of autos; a sector with rising market demand Source: Ghana Statistical Service (2008)

  4. Purpose (continued) • Feature five separate tracks to allow multiple auto auctions at one time • Provide low-cost, mechanical inspection services on site • Offer a testing track to ensure customer satisfaction

  5. Purpose (continued) • Employ at least 30 staff in high-paying, sustainable jobs in mechanics, sales, customer service, and site security • Set the standard for automotive trading and transportation-based development in West Africa and lead to the expansion of a cluster of additional businesses around the greater Accra region

  6. Site Location Convenient Location • Near Kpong, Ghana • Connected to Tema-Jasikan Rd • 30 minute drivefrom Tema/port • 40 minute drivefrom Accra

  7. Site Plan • Buildings • Main building (office, water, food, restrooms) • Auction room • Checking center • Mechanic shop • Testing driveway • Green space & wetland • Wall and road spike • Connecting road to Tema-Jasikan Rd Phase 1 Design

  8. Site Plan (continued) • Parking • General • 76 employee and customer (including disabled) • Inventory: • 626 (Phase 1)to 1567 cars (Phase 2) Phase 2 Design (includes additional parking capacity)

  9. Benefits of an Auto Auction • Decrease the price of autos in Ghana • Increase market transparency, fairness, and price stability • Modernize Ghanaian market and improve international trading • Increase local employment and national tax revenue

  10. Benefits (continued) • Under the current Ghanaian Auto Market… • Overpriced vehicles due to uncompetitive markets • With the Bandy Auto Auction Center… • Competition creates lower and more accurate price point

  11. Benefits (continued) • Under the current Ghanaian Auto Market… • There exists low transparency for auto purchasing, as buyers must purchase on streets or online without adequate standards or testing facilities • With the Bandy Auto Auction Center… • Transactions are visible, under the guidance of certified mechanics, and within a modern testing facility. Better value assessments lead to more stable prices!

  12. Benefits (continued) • Under the current Ghanaian Auto Market… • Auto trading is limited within Ghana due to factors mentioned prior • With the Bandy Auto Auction Center… • Modernization of Ghanaian auto market and set the regional standard for international trade, which will eventually include other trading itemssuch as heavy equipment andseptic tanks

  13. Benefits (continued) • Under the current Ghanaian Auto Market… • Only 19% of Ghanaians are employed in the formal private sector • With the Bandy Auto Auction Center… • Over 30 direct, high-wage, long-term jobs are created in sales, trade, mechanics, and site security. Advertising and utilitycompanies will gain business as well and construction workers will be needed immediately

  14. Benefits (continued) • Under the current Ghanaian Auto Market… • Limited tax revenues as auto purchases occur outside of the formal marketplace • With the Bandy Auto Auction Center… • Increase tax revenues for Ghana (i.e. corporate, income taxes, sales, and service taxes) and raise the nation’s global domestic product (GDP)

  15. Capital Costs • $4,022,648 • Capital costs largely due to initial construction phase

  16. Operational/Annual Costs • $487,477 • Wage costs are largest expense during post-construction, operating phase

  17. Profitability • Revenue Streams • Exhibition fee: $25per car • Test drive fee: $2per car • Trading fee: $300per car • Mechanic exam fee: $50 per car • Annual revenue $1,888,983(projected nine year average) • Estimated Auction Center Demand: • Exhibit 60 cars per day • Test drive 10 cars per day • Selling 10 cars per day • Mechanic exam 5 cars per day

  18. Profitability (continued) • Payback period = less than 5years

  19. Review • The Bandy Auto Auction Center will: • Reduce the cost of and improve access to autos and other motor vehicles for all Ghanaians • Set a transportation-based model for development and international trade in West Africa • Produce millions USD in tax-based revenue for the Ghanaian government • Produce hundreds of local jobs

  20. Contact • Project Leader: • Joseph KojoOwusu • Project Support: • Development Consulting International, LLC • Website: developmentconsultinginternational.org • Email: development-consulting-international@googlegroups.com

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