Seeking funds in phases with guidance

Respected Sirs and Ma'ams, I'm from India and if you have any slightest knowledge of current grocery delivery app growth you'd know BigBasket of TATA, zomato, blinkit, zepto, swiggy all the giants are running in the race of 10 mins grocery delivery.

Now amidst this Blinkit launches 10 min Ambulance service. And Phonepe, Apollo, started 10 mins medicine delivery too.

These are the sectors not yet ripe. But interestingly enough I have been researching this idea for over 3 months now, to create an app based 10 mins delivery company which, instead of focusing on dark stores, will focus on sourcing medicines like OTC, prescription products from local shops to help them thrive as well as grow the whole ecosystem.

Only company that is truly my competitor is Phonepe who launched the exact same model (not sure of the backend) in certain tier 1 cities and that's exactly why the next part is absolutely important.

I am a pharmacist by education, marketing agency owner by profession and I know medicine industry is crazy growing every month. India has a healthy blend of elderly, young and every other stages of population which diversifies different segment of medicine demand. Moreover remote locations still don't have access to it. So I am trying to build a company that-

1. Delivers OTC, prescription medicines to doorstep in 10 mins. Backend will work like Uber where we book the products (complete strips/vials) and address and whichever nearby store accepts the order will just have to pack it.

2. Our delivery partners will deliver it.

3. There's one problem of this in Tier 2, 3 cities that people prefer to buy odd pieces of medicines like 5 pieces of Omeprazole instead of a complete strip of ten. This fractional medicine demand can cause issue bringing down margins and discouraging them from buying. Tier 1 cities mostly wont have this problem.

4. In this cases I have planned to introduce a quarterly subscription cost of 500-900 Rs. Which will give them exclusive benefits like fractional orders, discounts etc.

5. I have also found that despite government's initiative of generic medicine stores, those remain empty mostly because of lack of consultant or doctor's recommending it. So I want to incorporate telemedicine consultation which will give users a valid prescription for medicines of lower costs (20-30% discounts) generic medicines.

For now i want to raise a funding of 20 lakhs or 23k USD to carry out phases of rollout

PHASE 1

1. Initial launch with atleast 100 stores onboard in tier 2, 3 cities only (estimated 1.5 lacs or $1700 in sales and 1 lac or $1200 in App+ site dev)

2. Onboarding fleet of atleast 10 persons with 10 store localities for efficiency. (Cost around 3 lacs or $3400)

3. Onboarding of two to three doctors part time (2 lacs or $2300)

4. Advertisement & marketing (3-5 lacs or $3400-5800)

PHASE 2

1. Secondary launch with another 50 stores onboard.

2. Around 8 lacs or $10000 including all.

3. Raising of Seed Round.

DISCLAIMER

With all due respect, this is an idea stage and I am looking for pre-seed funds. I have no idea about fundraising, equity dilution, and valuations as I dont have any revenue, or a pitch deck.

Projected revenue formally isn't done but ★ 5-7% on medicine's retail price (since we will not charge anything from medicine stores yet but ask them to give us 5-7% more margins) ★ around 500-1000 subscriptions are expected each of 200 INR or $2.3 monthly or 500 INR or $5 for a quarter ★ Doctor consultation 50 per month which will average about 299 INR - 499 INR or $3.8-4.8 per consultation

These are going to be the monetization channels. Later after traction gain we will onboard pharmacies for a price and once we enter tier 1, our monetization model will increase due to PPP

I'd be happy to get a formal valuation on confirmation or anything after mutual discussion. I'd really appreciate some help as, if we pace up on this, we are going to make a huge impact not only in India but globally.