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July 29, 2021

Gotothewater: The Vision

Gotothewater Technologies Limited (certificate of incorporation: 144279654 – formed on 13 October 2020) is a Tanzanian company that was founded with the goal of developing solutions based on water and the blue economy, beginning with a boat rental and water activities platform.

We have identified various problems in the water experience business (boat rentals, etc). To begin with, one of the most significant problems here in Tanzania is the complete lack of solutions that allow the general public to locate and book boats available on our water bodies (lakes, oceans, etc). Despite this, the owners of these vessels lack a platform that allows them to engage directly with customers. They’ve been depending on tour operators and other traditional methods of communication to locate and engage with customers for years.

We’ve built a peer-to-peer boat rental and water activities platform that will address market needs while also providing opportunities for other stakeholders in the water ecosystem.

Context

There are around 30 million recreational boats in the world (excluding cruise ships). This statistic covers both GPS-equipped and non-GPS-equipped fishing vessels. [Source: SCMO]. Only a small percentage of boats (less than 2% ) are available for rent on boat rental platforms.

This is a great opportunity to build a global boat rental platform. We’re starting with Tanzania because it’s a market we’re familiar with and where we believe there’s a chance to transform people’s perceptions about water experiences. Dar es Salaam, for example, is Tanzania’s smallest region (about 1,590 square kilometers; Tanzania’s total area is 945,087 square kilometers), but it has a population of nearly 6.7 million people. This equates to more than 10% of the country’s population. Because Dar es Salaam is a coastal city, the blue economy employs a large portion of the population.

We can solely target recreational boats and concentrate on travel and leisure, but this will not set us apart from the competition. Instead, we aim to approach the entire blue economy, as well as anything related to water. To understand why this is the future, let’s first look at the blue economy’s true potential:

Blue Economy: The Future

The “Blue Economy” is a new concept that promotes better stewardship of our ocean and other “blue” resources. There are strong ties between the ocean, climate change, and people’s well-being. Its core values, such as equity and public engagement in maritime and coastal decision-making, are reaffirmed. It supports all of the United Nations’ Sustainable Development Goals (SDGs), particularly SDG14, “life below water,” and recognizes that achieving these goals will necessitate bold, coordinated actions now, for the sake of current and future generations, to sustainably manage, protect, and preserve our oceans.

The blue economy is more than just a way of looking at the ocean economy as a source of revenue. Large-scale industrial nations have seen the development of their ocean economies through the exploitation of maritime and marine resources – for example, through shipping, commercial fishing, and the oil, gas, minerals, and mining industries – often without regard for the effects their activities have on the future health or productivity of those same resources, according to the ‘business-as-usual’ model.

Small island states like Zanzibar have significant ocean resources at their disposal, relative to their landmass, which presents a huge opportunity for enhancing economic growth and addressing unemployment, food security, and poverty. They also stand to lose the most if marine resources are depleted.

The blue economy paradigm, like the “Green Economy”, strives to increase human wellbeing and social fairness while minimizing environmental dangers and ecological scarcities. It establishes an inclusive model in which coastal states, who may lack the competence to manage their abundant ocean resources, may begin to share the benefits of those resources with everyone. Realizing the blue economy’s full potential requires the engagement and inclusion of all affected social groups and sectors.

Quick facts

  • The global ocean economy is estimated to be worth roughly US$1.5 trillion every year.
  • Sea transport accounts for 80% of worldwide trade volume.
  • Fisheries provide employment for over 350 million worldwide.
  • Offshore oil resources are expected to account for 34% of crude oil output by 2025.
  • Aquaculture is the fastest-growing food sector, accounting for nearly half of the fish consumed by humans.

Numbers: Follow the Money

The success of a business is determined by how well its model works. Business models aren’t necessarily written down every time, but they’re always a known method that a business follows in order to turn a profit. As a technology firm, we at Gotothewater are digital enablers. We provide platforms for a variety of parties. We charge a commission on all sales as a result of this. That’s the heart of our business. On the boat rental platform we’ve built, our charge is a flat 12.5 percent. Other platforms that we are building will have a sliding scale, ranging from 0% to 30%, depending on the service provided and the type of business.

Renting a boat takes time and money. Consider the following basic calculations to get an understanding of how we expect to earn our money:

Quick Assumptions: Each boat only operates twice a week, and the average transaction per rental is $100.

Month 1: Operating with 3 boats

3 boats x 2 days a week x 4 weeks x $100 = $2,400

12.5% commision = $300

Month 2: Operating with 10 boats

10 boats x 2 days a week x 4 weeks x $100 = $8,000

12.5% commision = $1,000

Month 3: Operating with 15 boats

15 boats x 2 days a week x 4 weeks x $100 = $12,000

12.5% commision = $1,500

Those are quite reasonable expectations. Boats in Tanzania, for instance, start at $1,000 and then go up from there. Some of them cost more than $5,000. Monthly earnings for months 1, 2, and 3 become $3,000, $10,000, and $15,000, respectively, if we use a reasonable average of $1,000 each rental. By the time we reach 100 boats, we’ll be turning over $150,000 every month on average. Using these estimates, monthly income will total $10,000,000.00 by year three, when we expect to have over 100,000 boats listed.

NOTE: These are gross revenues and are based on assumptions. Because boat rentals are generally seasonal, the actual numbers will vary. If these figures pique your interest, know that our investment doors are open. We will respond to your proposal if you send it to [email protected].

Gotothewater and You

We believe you will be our future client. Water is necessary for survival, whether we like it or not. Water was the beginning of life on Earth. We can build a partnership that will last generations with your help. We want to work with you to tap into the blue economy, not just send people on boat cruises.

Even if you’re not a fisherman, you probably enjoy seafood. We’re working on a solution for you. You may be a party animal, but you never know when or where the next beach party will occur. For that, we have a solution. You may also be so fascinated with the water that you wish you could meet other people who share your passion. That’s also something we’ve got covered. At Gotothewater, we’ve combined our community portal with e-learning features. This allows our members to create courses and assist in training future change-makers.

We want to accomplish more. As our first order of business, however, is to validate our business model before moving on to creating new solutions. The platform we established for boat rentals and water activities is our major business. We’d want you to give it a shot. Sign up at https://www.gotothewater.com today. Send us your feedback via the contact page, the website’s chat feature, or our email address: [email protected].

Next Steps

Gotothewater Technologies Limited is a privately held company (limited by shares) founded in Tanzania by David Amani Kisamfu and Eliezer Frank Mmbaga. We have a small team of advisors and partners from Tanzania, Spain, the USA, and Sweden, who are helping us with ideas on the best ways to transform our small business into a global company. As we launch our products, we are also opening doors for investors who believe in our vision. We may be small, but our dreams are valid. Join us today. If you have any questions, please write us an email via [email protected] or call/WhatsApp us on +255688764220 (David) or +255758441676 (Eliezer) or +16505010916 (for voice mails).

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