Page 2 - 888 Enterprise

INVESTMENT PROPOSAL
CORPORATE DETAILS
888 Enterprise Ltd 71-75 Shelton Street Covent Garden London WC2H 9JQ
DIRECTORS
Matthew Man Executive Director
Sachin Tupsy Finance Director
INDICATIVE CAPITAL
STRUCTURE SHARES
Founders
Seed and advisor Total Shares
£300k £1,000,000 1.3m
The customer buying journey for mobile devices has evolved massively in recent years. Pre-owned devices are a major part of this shift. As customers increasingly move to SIM-only plans, the ownership of the device has become untangled from the airtime contract. Customers are ever-more aware of the true value of their device and this knowledge, together with more awareness about pre-owned products, is driving sales year-on-year. At the same time, customers are becoming more aware of the choice of products that are available and the significant value they can achieve. Second-life products of course also offer many environmental benefits. At a time when consumers are becoming increasingly aware of sustainability, pre- owned devices offer users the opportunity to reduce their environmental impact and landfill. Upcycling is becoming a real trend.
IS THE REFURBSIHING OF PHONES STILL A FINANCIALLY VIABLE PROPOSAL?
Top five things that have happened to a child’s phone: 1. Smashed screen (53 per cent)
2. Damaged charger (30 per cent)
3. Water damage (26 per cent)
4. Damaged camera (18 per cent)
5. Damaged battery (17 per cent) https://mobilenewscwp.co.uk/News/article/insurance-ignorance-costs-parents-hundreds-smartphone-repairs
Just 4% of parents say they have appropriate insurance cover for their child’s phone according to research carried out by Insurance2go. The specialist insurance provider revealed that almost one in ten of parents spend £175 on fixing or replacing their child’s smartphone, while parents of 16-year-olds have spent the most on average at £158.
A smashed screen proved to be the most likely damage caused to a child’s phone, with over half (53 per cent) of parents admitting that their children’s smartphones have suffered a smashed screen. With all these considered, 888 is still of the opinion that there is a brilliant future in the refurbishing and upcycling of old devices especially if the refurbished device comes with a 12 months warranty. We at 888 do not see refurbished handsets as a direct replacement for new phones, rather it is an opportunity in the market to provide a cost effective alternative for consumers to access high spec devices which are one or two generations old and at the same time help the environment by keeping these devices from ending up in a landfill. As such 888 plan to invest significant time, effort and money in the refurbishing process and will continue to do so in the near future.
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