There is no doubt that most people are addicted to their phones. These phones are filled with numerous applications that can easily drain the battery. It is this that gave Chinese-born Peter Wang the idea to start a power bank renting business which he named Mopawa Software Limited.
Here is his story as told by WoK.
How it works
The power bank renting business is quite common in China with the industry raking companies billions in revenue. The only difference is that in China those wanting to rent, scan a QR code while in Kenya one uses mobile money.
The phone charger dispenser is simple and easy to use. One pays a refundable deposit of Ksh999 through the Mpesa paybill displayed on the box. Once the payment is made, a power bank pops out from the dispenser. One can then go and charge the phone wherever they want.
When they return the power bank, their Mpesa is credited with the change. The hardware for the charging station is manufactured in China but the software and the integration of the payment system with Mpesa was developed in Kenya.
Customers
The businessman works with high-end night clubs, such as 1824, 40 Forty and Cocorico. The dispenser had been installed in over forty different places.
While most night clubs have sockets, it isn’t convenient to leave one’s phone charging as one goes to dance or to another section of the club. Thus, the power bank is an ideal solution as one can carry it along to different places.
“You are free to go anywhere rather than sticking around the socket,” he said while speaking to the Daily Nation.
The businessman hopes to expand the business and have it in malls, hospitals, supermarkets, hotel lobbies, food outlets and colleges.
Revenue model
He told Nation that he earns money through partnerships with third-party companies. The partner takes 70% while Mopawa takes the rest.
Businesses can install either the 8-slot or 12-slot dispenser for Ksh30,000 and Ksh40,000 respectively.
His vision is to invest in 10,000 charging dispensers. If he manages to earn Ksh425.5 per day from each installation, it will translate to Ksh127.6 million in a month. The yearly revenue will rise to Ksh1.52 billion.
The electrical engineer said that there was already a deal with a single customer that was earning him five dollars a day. The dispenser only consumes about Ksh50 worth of electricity per month and does not require much in terms of maintenance.
