They came to Tekedia Capital to raise funds. We looked at the pitch deck and the business model. We said “NO” because the plan on the table will not work because this business is in America, not Nigeria or Africa. Quickly, we made suggestions, not on the grand vision, but on the path to it. Our unalloyed thesis here is that business models are supreme for the success of any business, because the logics of all firms run through the models they execute in the market. Amazingly, the team converged, and we then agreed to partner as investors.
Then we proposed a name change, and while the meeting was going on, the team registered the domain. Good People, we present 54Tables, an African meal company that will serve Africans and more in the Americas. In Nigeria, this is one of the fastest growing sectors, and we are confident that African delicacies will do well here in the Americas also.
Tekedia Capital is proud to lead the funding of this enterprise. And I am also using this for those who may want to have franchise licenses in major American cities with African diasporas. Besides B2C, the core business is B2B with consistent quality and pricing. Yes, order stew that will last your family for two months, and they will prepare and ship to your house, for the deep freezer to do its job. Locally, the delivery partnership is with companies like Uber Eats and the team has finalized things ahead of the launch.
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54tables has partnership with one of the largest cloud kitchen companies in America, and that partnership has reduced its fixed cost to get the ball rolling. 54Tables founder is amazing, from the old school hustling path. He managed a big filling station. When we were exploring this business, I asked him “so, you were a filling (gas) station manager?” He responded “YES”. Nothing more because one of the hardest jobs in Nigeria then was doing that job. You may not understand until a truck driver takes you out of a job.
As a junior banker in Lagos, for the IT servers to be up, you needed to keep the generators up and running, and to do that, you must have diesel. On multiple occasions, I had to throw out my bank suit to enter trucks to make sure diesel gets to the bank headquarters. If that does not happen and the system goes down (ban that in prayer), you are on the street with no job. That was just for one location, scale that for filing station managers: our founder has the hustling spirit to do this in America where can-do men and women thrive.
A proper introduction will come later once the product is launched in the next coming weeks. I am just writing to tell everyone that a solution is here: your jollof rice, nkwobi, and all the good stuffs are a click away in the beautiful America. To learn more about 54tables (not launched yet), visit https://54tables.com/ . For Tekedia Capital, the most active investing entity out of Africa which invests $millions yearly in companies around the world, visit capital.tekedia.com .
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