Tell us a few words about the founders and how the idea came
In 2016, Agribooth´s founder Raymond Chen had a contract to supply tractors to the government. However, the contract was eventually cancelled due to lack of funds on the part of the government. This led to disappointment in farmers who eagerly anticipated the arrival of the tractors. As a result of this, Agribooth was borne with the aim of addressing the needs of the farmers without placing too much burden directly on them.
Link to online video
Your products and services
We offer the following services:
- Agrihire: Platform for equipment leasing
- Agrishop: Platform for sales and purchase of equipment and inputs
- Agrinews: Platform for farmers to receive agricultural news on the go
- Agripedia: Platform for farmers to access information on any topic relating to agriculture
- Agriforum: Platform where farmers can interact with one another across the globe
Your success factors
Our success depends on a lot of things. First and foremost we are partnered with 2 of the largest equipment manufacturing companies in China. Secondly, we have access to equipment at affordable rates which in turn reduces the expenses for farmers.
Your factors differentiating and disruptive compared to the existing
We have our own fleet of tractors in addition to 3rd party owned tractors. We also plan to hire out our equipment to farmers at less than 50% of the current market rates offered by our competitors.
Your business model
We make money in several ways:
- Leasing fees for tractors hired
- Sales income from equipment and input sales
- Subscription and registration of users and tractor owners
- Commission fees from 3rd party vendor sales
- Commission fees from 3rd party tractor owners
A few words about your competitors
We have 2 main competitors and a few small-scale competitors. TOHFAN is one of our main competitors. They have a fleet of 200+ tractors but they use the “bookkeeping” method of making tractor bookings. They are also restricted to a few locations within the country. Our second main competitor is Hello Tractor. They use similar technology to ours, however, they are more focused on sales of their tracking device than tractor leasing. They also do not have tractors of their own and rely on tractors owned by 3rd party individuals.
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