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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

BandyAuto Auction Center

Prepared for: Joseph KojoOwusu

Prepared by: Development Consulting International, LLC

presentation outline
Presentation Outline
  • Purpose
  • Site Location
  • Site Plan
  • Project Benefits
  • Project Competitiveness
  • Profit Potential
  • Costs

2013 Toyota Camry Hybrid

Source: MotorTrend.com

purpose
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)

purpose continued
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
purpose continued1
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
site location
Site Location

Convenient Location

  • Near Kpong, Ghana
  • Connected to Tema-Jasikan Rd
  • 30 minute drivefrom Tema/port
  • 40 minute drivefrom Accra
site plan
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

site plan continued
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)

benefits of an auto auction
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
benefits continued
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
benefits continued1
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!
benefits continued2
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
benefits continued3
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
benefits continued4
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)
capital costs
Capital Costs
  • $4,022,648
  • Capital costs largely due to initial construction phase
operational annual costs
Operational/Annual Costs
  • $487,477
  • Wage costs are largest expense during post-construction, operating phase
profitability
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
profitability continued
Profitability (continued)
  • Payback period = less than 5years
review
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
contact
Contact
  • Project Leader:
  • Joseph KojoOwusu
  • Project Support:
  • Development Consulting International, LLC
  • Website: developmentconsultinginternational.org
  • Email: development-consulting-international@googlegroups.com