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BD Chat Company Profile

Overview:
BD Chat Mobile App is a cutting-edge communication platform designed to cater specifically to the needs of Bangladeshi expatriates worldwide. Our comprehensive suite of services includes chat, voice calls, video calls, and remittance services, all tailored to facilitate seamless communication and financial transactions for our users.

Aim & Mission:
At BD Chat Mobile App, our mission is to empower Bangladeshi and other country expatriates by providing them with a reliable and user-friendly platform to stay connected with their roots and support their loved ones back home.
Initially BD Chat will launch its venture targeting Bangladesh 7, 00, 00,000 customer. Gradually it will expand to Pakistan, India, Sri Lanka etc. Asian Countries and later on Europe Countries.
From which country or which bank BD Chat will be operated, the Bank will enjoy a huge volume of service charge and the country will earn a big amount of foreign currency in currency conversion process over the whole BD Chat transaction.

Services:
1. Chat Service: Connect with friends, family, and colleagues through instant messaging, stickers, and emoji’s in your native language, Bangla, fostering a sense of closeness and familiarity.
2. Voice Call Service: Make crystal-clear voice calls to any mobile or landline number in Bangladesh, ensuring uninterrupted communication with your loved ones.
3. Video Call Service: Experience face-to-face conversations no matter where you are in the world, with high-quality video calls that bring you closer to home.
4. Remittance Services: Send money to your family in Bangladesh quickly, securely, and affordably, with competitive exchange rates and convenient transfer options.

BD Chat Users can send remittance/Money to Bangladesh from following countries : 

  • Saudi Arabia
  • UAE
  • USA
  • Singapore
  • Malaysia
  • Canada
  • China
Any BD Chat User can send remittance/Money to Bangladesh from any countries of the world if he has : 

  • Credit Card
  • Debit Card
  • Visa card
  • Master card

Founder & CEO

M A Ferdous, a visionary entrepreneur with a passion for leveraging technology to address the unique needs of the Bangladeshi diaspora, leads BD Chat Mobile App. With a background in technology and a deep understanding of the challenges faced by expatriates, Ferdous is committed to driving innovation and delivering exceptional value to users.

M A Ferdous
CEO
BD Chat

Business Model & Other Details

Business partnership affiliation & API Integration:
BD Chat will have business partnership affiliation / Agent and API integration with International Money transfer Operator MTO / MSB like Stripe / 2Checkout / Wise / Western Union Etc.
1. BD Chat will have API integration with a Local bank like Mutual Trust Bank.
2. BD Chat will have API integration with a local PSP like Bkash.
3. BD Chat will have API integration with a local PSP like nagad.
4. BD Chat will have API integration with SSL for local interbank integration.

Business Operation Model

BD Chat is the platform which will interconnect various international MTO / MSB like (Stripe / 2Checkout / Western Union / Wise Etc.) with local PSP / PSO like ( Bkash / Nagad) and a local bank like Mutual Trust Bank and with the SSL Back bone by API integration.
1. As Bangla Chat is API integrated with international MTO / MSB (Stripe /2Checkout / Western Union / Wise Etc.), BD Chat App user can use the payment portal of these MTO / MSB to send money in any country.
2. Bangla Chat will be the business affiliate partner / Agent of this MTO / MSB who are approved by FINCEN / FINTRACK to transfer the money worldwide will be the applicable authority of Bangla Chat. 
3. International currency will directly hit the Mutual Trust Bank from various MTO / MSB who are the principal of Bangla Chat. Mutual Trust Bank will transfer the fund to BD Chat FC account as Bangla Chat is the partner / Agent to the MTO / MSB.
4. Mutual Trust Bank will convert the BD Chat FC account fund to BDT through Nostro account and place it to Bangla Chat CD account maintaining the Bangladesh Government rules & regulations. 
5. For real time operation, BD Chat will use the Pre Funded Model and be integrated with local PSP / PSO like Bkash , Nagad and SSL backbone for real time delivery.
6. BD Chat is a Mobile App which provides Chatting services, Voice call services, video call services and working as a Money Transfer Agent services provider under one umbrella.
7. BD Chat will act as an Agent and also a market place for international MTO / MSB and promote their business as a business affiliate partner by providing various relevant services like Chatting / Voice Call / Video Call / File Sharing Etc.
8. BD Chat will run necessary campaign to promote the Market of MTO / MSB by running AD / Campaign as a business affiliate partner / Agent. 
9. Finally, BD Chat is a BD / English Mobile app which is developed making so user friendly keeping in mind that a semi-literate can use it without any hesitation. It will encourage the expatriates to avoid Hundi / Hawala for the app’s user-friendly operating and easy money sending procedure. 
10. The biggest achievement of this app will be the developing of FOREIGN CURRENCY RESURVE in Bangladesh.  
Initial & Start-Up Target Customer
BD Chat targets 20 million Ex-patriot service holder Bangladeshis around the world to serve their remittance to their families on mobile & Bank account.
• BD Chat integrates with local PSP Bkash who has existing 50000000 customers who will be by default BD Chat customer with API integration for remittance.
• BD Chat integrates with local PSP Nagad who has existing 20000000 customers who will be by default BD Chat customer with API integration for remittance.
• BD Chat integrates with local SSL backbone who has existing 27 bank API integration for money transaction will be by default add with BD Chat customer with API integration for remittance.
BD Chat target market comprises international migrants, students studying abroad, and small and medium-sized enterprises (SMEs) involved in international business. These customer segments are likely to purchase our digital remittance service, given the convenience, fast transfer times, and low fees that we offer.
International migrants, who make up a significant portion of our target market, often need to send money back home to support their families. With BD Chat, they would be able to do so quickly and affordably, without having to go through the hassle of visiting a physical remittance location.
Students studying abroad need to manage their finances while in a foreign country, and often have to send money to their families back home. BD Chat's digital remittance service would offer them a convenient and secure way to do so, without having to worry about high fees or long transfer times.

SMEs involved in international business would also benefit from BD Chat's services. They often need to pay vendors or suppliers in different countries, and our platform would offer them a reliable and cost-effective way to do so.
By targeting these specific customer segments, BD Chat aims to build a diverse customer base that values our fast, transparent, and secure remittance services. 

Present Market Scenario:
The remittance industry is competitive, with many existing players offering similar digital remittance services. Some of the current alternatives or substitutes in the market that BD Chat will be competing against include:
• Traditional money transfer services, such as Western Union and MoneyGram, which offer physical locations for sending and receiving money
• Mobile wallet providers, such as PayPal and Venmo, which allow users to store and transfer money digitally
• Bank transfers, which offer a secure and reliable option for sending money internationally, but with higher fees and longer transfer times than digital remittance services

BD Chat will differentiate itself by offering low fees, fast transfer times, and a transparent and secure transfer process, with a user-friendly interface and personalized customer service. Through strategic partnerships with remittance partners, payment gateways, and regulatory authorities, the company also aims to expand its network and infrastructure to provide reliable and efficient remittance services to a broader market.

Business Planning Milestones :
At BD Chat, we understand the importance of setting achievable milestones and tracking our progress towards achieving our goals. We have outlined a clear roadmap of where we currently are and specific milestones we plan to hit in the coming years.

Year Milestone                                       Status
Year 1 Launch platform in the Bangladesh                         :  Under testing & trouble shooting
Year 2 Achieve profitability                                      :  In progress
Year 3 Expand market reach to Europe                                :  Planning stage
Year 4 Develop additional value-added services for customers :  Planning stage
Year 5 Establish partnerships with major banks and financial institutions : In Progress

Our current milestone is to achieve profitability by year two of operations. We are on track to meet this goal and are confident that our low fees, fast transfer times, and exceptional customer service will continue to attract customers.
In year three, we plan to expand our market reach to Europe and Asia to increase our revenue streams and achieve sustainable growth. We are currently in the planning stage of this milestone, and we aim to leverage our partnerships with key players in the remittance ecosystem to support our expansion.
As we continue to grow, we plan to develop additional value-added services for our customers and establish partnerships with major banks and financial institutions to increase our credibility and reach. We are committed to achieving these milestones and transforming the remittance industry by providing outstanding services to our clients.

Business Details Under Consideration
Problem Worth Solving:
International money transfers have traditionally been associated with high transaction fees, lengthy transfer times, and a lack of transparency in the transfer process. This often results in a significant financial burden on international migrants, students studying abroad, and SMEs that engage in international business.
Moreover, these customers often struggle to find a remittance service provider that offers personalized customer service to address their unique needs and concerns. This lack of customer-centricity has resulted in a negative perception of the remittance industry and a reluctance to use digital transfer services for financial transactions.
BD Chat aims to solve these problems by offering a digital remittance service that is fast, secure, and transparent, with low fees and a user-friendly interface. Our personalized customer service model ensures that each customer's unique concerns are addressed promptly and effectively, resulting in a positive customer experience. We strive to transform the remittance industry by making international money transfers more accessible, affordable, and convenient for our customers.

Our Solution:
At BD chat, we understand the challenges faced by international migrants, students studying abroad, and SMEs engaged in international business when it comes to sending and receiving money. That's why we offer an innovative digital remittance service that makes the process simple, secure and hassle-free.
Our platform provides low fees and fast transfer times for international money transfers with a transparent and secure transfer process. We recognize the importance of trust and assurance when it comes to financial transactions, and that's why we offer an easy-to-use interface that ensures a personalized customer experience in all that we do.
Our solution offers a custom-built compliance infrastructure that ensures adherence to local regulations. With state-of-the-art technology and thorough compliance protocols, we guarantee that our customers' transactions are safe, secure and traceable.
We make it easy for our customer base to send and receive money with our online and mobile app support and personalized customer service. Additionally, we provide value-added services that make our platform one of the most comprehensive in the remittance industry, including foreign exchange services and transaction tracking through our platform.
At Bangla Chat, we are confident that our solution will solve the problem faced by our customers and ensure the seamless transfer of money across borders.

Validation of Problem and Solution:
As a digital remittance service, Bangla Chat understands the challenges faced by international migrants, students studying abroad, and SMEs engaged in international business when it comes to transferring money across different countries. Through extensive market research, we have found that these customers are often in need of a secure, transparent, and low-cost solution for their financial needs. To validate our solution, we conducted a pilot program with a limited number of customers and received positive feedback. 
We also compared our fees, transfer times, and services with those of our competitors and found that our platform offered significant advantages to customers. Furthermore, we analyzed the global remittance market and found that it is projected to grow at a steady pace in the coming years. According to the World Bank, global remittances reached $689 billion in 2018, and this number is expected to reach $715 billion by 2020. Our analysis also revealed that there is a significant gap in the market for personalized and user-friendly remittance services, which we aim to address through our platform. By offering fast transfer times, low fees, and easy-to-use interface backed by state-of-the-art technology, we are confident that BD Chat's solution will cater to the needs of our target customer segments. In conclusion, our market research, pilot program, and analysis of the global remittance market validate the need for BD Chat's digital remittance service and its potential to succeed in the market.

Product Overview:
BD Chat is a digital service that offers Chat, Voice, Video Communication with real time money transfer with low fees and fast transfer times, for international money transfers. Our platform is designed for international migrants, students studying abroad, and SMEs involved in international business who require a convenient, secure, and cost-effective way to send and receive money across borders. 
Our service offers transparent and secure transfers, with an easy-to-use interface that ensures a hassle-free experience for our customers. With BD Chat, customers can enjoy competitive exchange rates, low transaction fees, and fast transfer times. Our goal is to provide exceptional services and personalized customer experience that meets the needs of our diverse customer base.
Whether our customers are making a one-time transfer or need to send money on a regular basis, we guarantee that our platform can help them save money and time. Our efficient payment processing system and regulatory compliance framework ensure that all transactions are fast, secure, and compliant with relevant regulations. Whether you are a student studying abroad or an SME conducting international business, BD Chat is the reliable and cost-effective solution for your remittance needs.

Strategy to Fight with Present Competitor

Currently, there are several established players in the digital remittance industry, such as Western Union, MoneyGram, and Xoom. These companies offer similar services and have a strong brand presence in the market. However, BD Chat aims to differentiate itself by offering low fees and fast transfer times with a transparent and secure transfer process. Our user-friendly interface and personalized customer service will also set us apart from our competitors. By building strategic partnerships with remittance partners, payment gateways, and regulatory authorities, we will expand our network and infrastructure, providing reliable and efficient remittance services to a broader market. Our commitment to exceptional services backed by state-of-the-art technology and an exceptional team will make us a strong contender in the industry.

Roadmap: Products & Services:
At BD Chat, we believe that our digital remittance service will bring a revolutionary change in the industry. Here's our roadmap for establishing and growing our business:

  • Research & Planning Conduct market research, establish partnerships with key players, finalize business plan, and identify funding options.--------------------------------------------Completed
  • IT Infrastructure & Compliance Framework Build a secure and reliable platform for digital remittance services and establish a regulatory compliance framework to ensure transparent transactions.-----Ongoing
  • Staff Hiring & Training Hire a team of skilled professionals, and provide them with rigorous training to ensure that they deliver efficient and personalized customer service.----------------------Ongoing
  • Product Launch & Marketing Launch our digital remittance services, backed with effective marketing strategies, to create awareness and attract customers.-----------------------------Upcoming
  • Feedback & Reviews Encourage customer feedback to identify areas of improvement and deliver services that exceed customer expectations, ultimately building a loyal user base.---------------------Ongoing
  • Expansion to Europe & Asia Expand our market reach to Europe and Asia to increase revenue streams and achieve sustainable growth.---------------------------------------------------------Future
Market Analysis
Market Segmentation:
In order to target specific customer groups with our digital remittance service, we have identified the following market segments:
Segment Description Size of Segment Market Potential
International migrants Individuals living and working in a foreign country who need to send money back home to their families and loved ones. Over 250 million people worldwide High demand for low-cost remittance services
Students studying abroad Students who are studying in a foreign country and need to receive funds from their parents or sponsors to cover their expenses. Over 5 million students worldwide Significant potential for growth, as more students are choosing to study abroad each year
SMEs involved in international business Small and medium-sized businesses that engage in international trade and need to make cross-border payments to their suppliers and partners. Over 20 million SMEs worldwide High demand for efficient, low-cost solutions for international payments

Target market segment strategy
The ideal customers for our digital remittance service would be international migrants, students studying abroad, and small and medium-sized enterprises (SMEs) involved in international business. These segments are most likely to benefit from our low fees, fast transfer times, and easy-to-use interface. Our marketing strategy would focus on creating awareness among these segments through social media engagement, targeted advertising, and personalized customer service. By understanding the needs and pain points of these segments, we can customize our offering to meet their specific requirements and build a loyal customer base.

Key Customers:
Our ideal customer archetype is the international migrant who sends money home regularly. They are typically tech-savvy and seeking a service that is transparent, secure, and fast. They are also cost-conscious and appreciate our low fees and favorable exchange rates. As advocates for our business, they can spread the word about our services to their family and friends, helping us to expand our customer base. Additionally, we also target students studying abroad and SMEs involved in international business who require fast and reliable money transfer services.

Future Markets:
Based on the analysis of customer segments and revenue streams, the potential market for the digital remittance service is substantial. As the world becomes more connected, the need for fast and low-cost international money transfers will only increase. The business strategy is designed to cater to the needs of international migrants, students studying abroad, and SMEs involved in international business. With personalized customer service and a transparent platform, the company is well-positioned to capture a significant share of the market in the future.

Present Market Competitor:
Here is a table of potential competitors in the digital remittance services market:
  • TransferWise: Low fees, fast transfers, transparent rates Individuals and businesses
  • Remitly:      Fast transfers, competitive exchange rates International migrants
  • WorldRemit:   Fast transfers, multiple payout options, extensive global coverage Individuals and businesses
  • Xoom:            Fast transfers, competitive rates, easy-to-use interface Individuals
While these competitors do offer some similar value propositions, our digital remittance service sets itself apart by offering the lowest fees and the fastest transfer times for international money transfers. Our platform will focus on serving international migrants, students studying abroad, and SMEs involved in international business, with personalized customer support and a user-friendly interface.

Marketing and Sales Plan
Marketing Plan:
Our main marketing goal is to increase brand awareness and target our potential customers on various digital platforms. We plan to allocate our marketing budget towards digital advertising channels such as Google Ads, social media marketing, and email marketing. We will also partner with relevant influencers in the international migrants and student communities to promote our service. Our aim is to acquire a minimum of 10,000 customers in our first year of operation. See below for a breakdown of our marketing costs:

Marketing Channel          Cost
Google Ads                    $ 10,000/month
Social Media Marketing $ 5,000/month
Email Marketing              $ 2,500/month
Influencer Marketing        $ 3,000/month

Sales Plan:
Based on market research and analysis, we anticipate a steady growth in sales over the first three years of operation. In the first year, we aim to achieve a conservative estimate of 10,000 transactions per month. This is based on our pricing strategy, which is designed to be competitive and attractive to our target customer segments, as well as our capacity to process transactions efficiently. Our pricing strategy will offer a low transaction fee and a competitive foreign exchange rate spread. This will be communicated through digital marketing campaigns and social media engagement. We will also leverage our partnerships with remittance partners and payment gateways to promote our services to their customer base. As we expand our market reach to Europe and Asia by year three, we anticipate a significant increase in the number of transactions per month. We estimate that we will achieve between 50,000 and 100,000 transactions per month, depending on market conditions and our ability to establish a strong brand in these regions. Our sales plan will be supported by a comprehensive marketing strategy that includes digital marketing, social media engagement, and targeted advertising. We will also offer value-added services such as loyalty programs and referral bonuses to encourage customer retention and growth. Overall, we believe that our low-fee, fast, and secure digital remittance service will be attractive to our target customer segments, and we aim to establish a strong market presence by delivering outstanding services and building strong partnerships in the remittance ecosystem.

Location and Facilities:
As a digital remittance service, BD Chat does not require a physical business location for its operations. Our headquarters will be based in Dhaka, Bangladesh with remote teams working from various locations. This approach allows us to minimize our overhead costs while maintaining high-quality services to our clients. Our IT infrastructure will be hosted on cloud servers, ensuring secure and scalable operations. We will also have a disaster recovery plan in place to guarantee uninterrupted service delivery. Our team will utilize online project management tools to ensure effective communication and collaboration, enabling us to provide top-notch customer service. Our marketing and advertising efforts will be mainly online, leveraging social media platforms and search engine optimization techniques. We will also partner with affiliate marketers and remittance comparison websites to expand our market reach. By having a remote-based team, we can effectively market our services and establish a strong brand without the need for a physical location. Overall, BD Chat's business model allows for flexible and cost-effective operations while maintaining a high level of service delivery and accessibility for our clients.

Technology:
At BD Chat, we leverage state-of-the-art technology to offer innovative solutions that redefine the remittance industry. Our digital remittance service is built on a robust, secure, and scalable IT infrastructure that is capable of processing large volumes of transactions within seconds. We use advanced encryption technology and secure payment gateways to ensure that our platform is highly secure, reliable, and transparent. One of the primary features of our technology is its ability to offer fast and inexpensive international money transfers to our customers. Our platform provides near-instantaneous transfer times and uses the latest foreign exchange rates to ensure that our customers get the best rates available. Furthermore, the platform's user-friendly interface makes it easy for customers to initiate and track their transactions, reducing the complexities involved in international money transfers. Our technology infrastructure also enables us to offer value-added services such as SMS notifications, multi-currency accounts, and digital wallet integration. The platform's integration with digital wallets opens up new avenues for remittance payments beyond traditional bank transfers, promoting convenience and accessibility. Overall, our technology infrastructure is a key driver of our business, enabling us to provide top-tier remittance services that are secure, convenient, and affordable. As we continue to grow as a business, we are committed to investing in new technologies to further enhance our platform and delight our customers.

Equipment and Tools:
As a digital remittance service, our marketing and sales plan requires us to rely primarily on technology and digital tools. Here are the essential equipment and tools we need to execute our marketing and sales strategies:

Equipment / Tools                                                Cost
Laptops and desktop computers                             $5,000
Smartphones and tablets                                          $2,500
Video conferencing software                                    $1,000
Social media management tools                              $1,500
Email marketing software                                    $1,000
Customer relationship management (CRM) software    $2,500
Digital advertising platforms                                    $3,000
Website development and maintenance                 $5,000
Search engine optimization (SEO) tools                 $1,500
Total                                                                   $23,500

The total cost of equipment and tools required for our marketing and sales plan is $23,500. It includes the cost of laptops, smartphones, and tablets for our team, video conferencing software for virtual meetings, social media management and email marketing software, CRM and digital advertising platforms to engage with customers, website development and maintenance costs, and SEO tools to improve our online presence.

Management and Organization
Organizational Structure:
Our digital remittance service company will have a flat organizational structure with a team of highly skilled professionals responsible for ensuring seamless operations. The following table depicts the roles and responsibilities of our key employees:

Organogram:
• BD Chat has a functional organogram. At the top is the CEO, responsible for strategic planning and overall management of the business.
• Each function will be run by highly skilled departmental in-charge who will implement operational plans and maintain day by day activities of the overall organization.

     Role Responsibilities:
  • CEO- Overall strategic direction, partnerships, and investor relations.
  • CTO- Technology infrastructure, software development, and cybersecurity.
  • COO-Operations management, customer service, and compliance.
  • CFO- Financial planning, accounting, and budgeting.
  • Marketing Manager- Brand management, marketing campaigns, and user acquisition.
  • Remittance Partnerships Manager- Foster partnerships and manage relationships with key players in the remittance ecosystem.
The flow of information will be open and transparent, where ideas and feedback can be shared among all levels of the organization. The CEO will be the top-most hierarchical position, followed by the CTO, COO, CFO, Marketing Manager, and Partnerships Manager. An agile framework will facilitate efficient teamwork and encourage innovation.

Management Team:
As BD Chat services business scales, we anticipate taking on a strong team of experienced, motivated professionals to fill high-level management roles within our company. Below is a table of potential candidates we have identified for these positions:
Position                                        Candidate Name Experience
  • Chief Executive Officer (CEO)          MA Ferdous 10+ years of experience in fin tech, including leading
                                                                                   successful startups in the digital payments space.
  • Chief Operations Officer (COO)    Mr. Masud Extensive background in operations and management,
                                                                                   having previously served as COO at a large financial institution.
  • Chief Technology Officer (CTO)   Mr. Rakib           15+ years of experience in software engineering with a focus on
                                                                                   building scalable systems in the financial services space.
  • Chief Compliance Officer (CCO)    Mrs. Sheuly Expert in regulatory compliance with a deep understanding of
                                                                                   anti-money laundering and know-your-customer requirements.
  • Chief Marketing Officer (CMO)   Mr. Mokbul A marketing veteran with over 20 years of experience in branding
                                                                                  and digital marketing, including leadership roles at major consumer-
                                                                                  facing companies.
Each of these candidates brings a unique set of skills and experience to our management team, and we look forward to working with them to drive the growth of our business.

Management Team Gaps:
As a recently established startup, our management team currently lacks candidates for specific roles and areas of expertise. We aim to bring on board individuals who have extensive experience in compliance and regulatory affairs, as well as marketing and customer acquisition strategies.
Additionally, we plan to recruit professionals with proven track records in scaling technology platforms, product development, and UX/UI design. By filling these gaps, we can ensure that our business model can effectively tackle existing challenges and stay ahead of the competition in the highly dynamic digital remittance industry.

Company history and ownership

BD Chat is a digital remittance service that was founded and is headquartered in Dhaka, Bangladesh. The company was established in 2024 by a group of experienced professionals who recognized the need for a transparent, secure, and affordable remittance service that could provide personalized customer service to international migrants, students studying abroad, and SMEs engaged in international business. 
BD Chat is a privately held company and is owned by its founder CEO and early investors. The company has plans to secure $3 million in seed funding from venture capitalists and angel investors to support its growth and expansion plans.
Since its founding, BD Chat has been committed to delivering exceptional services to its customers backed by state-of-the-art technology and a highly skilled team. The company's goal is to transform the remittance industry by making international money transfers faster, cheaper, and easier for everyone. As a startup business, BD Chat is focused on achieving profitability by year two of operations and expanding its market reach to Europe and Asia by year three. 

Milestones

As part of our management and organization plan, we have created a detailed roadmap of specific goals and objectives that we plan to achieve to manage and steer our business towards success. This roadmap includes:
Milestone Objective Target Completion Date
  • Securing Seed Funding Invest $3 million in seed funding to support IT infrastructure, staff salaries, marketing and advertising expenses, and regulatory compliance costs. End of Q1, Year 1
  • Launch of BD Chat Platform Launch a fully functioning digital remittance service platform with low fees, fast transfer times, and a transparent and secure transfer process. Q2, Year 1
  • Expansion to Europe Expand our market reach to Europe increasing revenue streams and achieving sustainable growth. End of Year 3
  • Building a Diverse Customer Base Build a diverse customer base by providing personalized service, an easy-to-use interface, and social media engagement. Ongoing
  • Profitability Achieve profitability by year two of operations. End of Year 2

Key Metrics

The following KPIs will help us gauge the overall performance and health of our business:
• Transaction volume
• Average transaction size
• Customer acquisition cost
• Cancellation rate
• Conversion rate
• Customer satisfaction rating
• Compliance rating
• Net promoter score
• Revenue growth rate
• Profit margin
By regularly monitoring and analyzing these metrics, we will be able to make data-driven decisions and adjust our business strategy accordingly.

Financial Plan and Metrics

BD Chat is a New Start up. The following tables outline the expected or incurred costs necessary to start and operate our Mobile App (Chat, Voice, Video Call) & digital remittance service:

Startup Costs:
Expense Name                                Cost ($)
Legal and Regulatory Fees             5,000
Technology Infrastructure            50,000
Marketing and Advertising              5,000
Office Space and Supplies              5,000
Total                                               65,000

Operational Expenses:
Expense Name                            Cost ($/month)
IT Infrastructure Maintenance          1,000
Staff Salaries and Benefits          5,000
Compliance Costs                      1,000
Marketing and Advertising          1,000
Office Rent and Utilities                1,000
Total                                         9,000

These costs are estimates and may vary based on market trends, regulatory changes, and other factors beyond our control. We will regularly review and adjust our expenses to ensure our business model remains sustainable and profitable.

Projected Funding Requirements:
Our startup business, BD Chat, requires an initial investment of $3 million in seed funding from venture capitalists and angel investors. The investment will help us develop and establish our IT infrastructure, hire staff, cover marketing and advertising expenses, and ensure regulatory compliance.

The following is a brief outline of the funding requirements:

• $1.5 million for the development of our digital remittance platform and IT infrastructure.
• $500,000 for staff salaries, training, and benefits.
• $500,000 for marketing and advertising expenses, such as social media campaigns, content marketing, and targeted ads.
• $500,000 for legal and regulatory compliance costs, including licensing fees, audit costs, and legal fees.

We are confident that the investment will help us achieve profitability by year two of operations and expand our market reach to Europe and Asia by year three, increasing our revenue streams and achieving sustainable growth.

 Proposed Business Projection:
Our financial plan is aimed at achieving profitability within two years of operation. We plan to secure $3 million in seed funding from venture capitalists and angel investors to support our IT infrastructure, staff salaries, marketing and advertising expenses, and regulatory compliance costs.
• Projected revenue in Year 1: $5 million
• Projected revenue in Year 2: $12 million
• Projected revenue in Year 3: $20 million
• Projected net profit in Year 1: $1.2 million
• Projected net profit in Year 2: $2.5 million
• Projected net profit in Year 3: $4.1 million
• Projected cost of customer acquisition: $20 per customer
• Projected customer base in Year 1: 50,000
• Projected customer base in Year 2: 100,000
• Projected customer base in Year 3: 150,000

We believe that our financial projections are conservative, and we have taken into account various risks and uncertainties in the global remittance market. We remain committed to achieving sustainable growth and delivering exceptional value to our customers.
BD Chat Business Analysis & Target Market
BD Chat targets its business to the surprisingly growing remittances in South Asia. According to the World Bank Report titled ‘Migration and Development Brief 34, May 2021', inward remittance flows to South Asia increased by about 5 percent in 2020 due to boost up of remittance inflows in Bangladesh and Pakistan. India received USD 83.1 billion remittances, accounting for 11.65% of worldwide inflows. Bangladesh, Pakistan, and Sri Lanka continue to receive increasing amounts of Remittances. 
BD Chat targets the Asia market first. Out of that the startup will be from Bangladesh. Because the remittance inflow grows a percentage of GDP, are shown in Table. 

Top Remittance Earning Countries in South Asia and % of their own GDP:  

  • India        83.1 -----------------11.65% 
  • Nepal        23.5 -----------------8.1%
  • Pakistan         26.1 -----------------3.66% 
  • Bangladesh     21.7------------------6.6%
  • Sri Lanka   26.-------------------8.1%
  • Afghanistan 16.2------------------5.32%
  • Bhutan.       22.2------------------7.3%
  • Maldives      20.1------------------6.9%
*Top 10 Countries according to remittance inflows as percentage share of GDP (percent) in 2020. 
Source: Migration and Development Brief 34, May 2021 

Sales Forecast:
Below is a table of the projected sales for the next three years (2023, 2024, and 2025). The first column shows the sales forecast broken down by product categories, with the total at the bottom. The remaining columns represent the years.

Product Categories         2025               2026                       2027

Transaction Fees                 $5,000,000    $6,000,000 $7,000,000
Foreign Exchange Spread     $3,000,000 $4,000,000 $5,000,000
Value-Added Services     $1,000,000 $1,500,000           $2,000,000
Total                              $9,000,000 $11,500,000            $14,000,000

The sales forecast is based on a projected increase in the number of customers using our platform and the expansion of our market reach to Europe and Asia by year three of operations.

Projected Profit and Loss:
Our financial plan focuses on achieving profitability by year two of operations and expanding our market reach to Europe and Asia by year three. Here is a profit and loss statement for the next three years of operations:

P&L Categories               2025             2026           2027
Revenue                      $5,000,000 $12,000,000 $20,000,000
COGS                            $2,500,000   $6,000,000 $10,000,000
Gross Margin                $2,500,000 $6,000,000 $10,000,000
Gross Margin Percentage         50%               50%              50%
Expenses List                $1,000,000   $3,000,000 $5,000,000
Profit                             $1,500,000   $3,000,000 $5,000,000
Profit Percentage               30%               25%               25%

Our projected revenue for 2024 is $5 million, which will increase to $20 million by 2025. Our cost of goods sold will be $2.5 million in 2024and will increase to $10 million by 2025. This will give us a gross margin of $2.5 million in 2026 and a gross margin percentage of 50%. We expect to incur expenses of $1 million in 2024, $3 million in 2025, and $5 million in 2026. This will result in a net profit of $1.5 million in 2024, $3 million in 2025, and $5 million in 2026. Our profit margin percentage will be 30% in 2024 and 25% in 2025 and 2026.
We plan to achieve our financial goals by expanding our network and infrastructure using the seed funding of $3 million from venture capitalists and angel investors. We will also implement effective marketing strategies to acquire a diverse customer base and offer value added services to increase our revenue streams.

Projected Cash Flow:
Below is the projected cash flow statement for BD Chat for three years :

Cash Flow Categories          2025            2026             2027
Inflow                            $5,000,000 $10,000,000 $20,000,000
Outflow                            $4,000,000 $7,500,000 $12,000,000
Net Cash Flow                $1,000,000 $2,500,000 $8,000,000
Cumulative Net Cash Flow   $1,000,000 $3,500,000 $11,500,000

The projected cash flow statement shows that BD Chat will have a steady increase in inflow over the next three years, while keeping a consistent outflow. As a result, the net cash flow will increase substantially, and the cumulative net cash flow will consistently grow over time, enabling the company to maintain a healthy financial position.

Projected Balance Sheet:
Below is the projected balance sheet statement for the Remittance Services business plan for the years 2024, 2025, and 2026. The table is categorized into Assets, Liabilities, and Equity, and each column represents a specific year.

Name       2025          2026            2027
Assets $500,000      $1,000,000   $2,500,000
Liabilities   $250,000         $500,000   $1,000,000
Equity     $250,000         $500,000   $1,500,000

The projected balance sheet shows a steady growth in assets and equity over the course of three years, with liabilities remaining a fixed percentage of the total. This indicates a healthy financial position for the Remittance Services business as it expands and scales its operations.

Projected Personnel Plan:
A successful remittance service requires a team of qualified and experienced professionals who can efficiently manage the various operations. The following table outlines the key positions that are necessary to run this business effectively:

Position                       No. of Employees Salary Range
Chief Executive Officer      1 $150,000 - $250,000+
Chief Operating Officer      1                          $120,000 - $200,000+
Marketing Manager            1 $80,000 - $120,000+
IT Manager                         1 $80,000 - $120,000+
Compliance Officer            1                          $60,000 - $100,000+
Customer Support Representatives  5 $30,000 - $50,000+
Payment Processors                      3 $40,000 - $70,000+

The salaries for these positions will be based on the level of experience and expertise of the candidates. The business may also hire part-time employees or outsource certain functions as needed to ensure operational efficiency.
We intend to hire a small team of experienced professionals who can contribute to the growth and expansion of our digital remittance service. Key positions include payment processing specialists, compliance officers, customer service representatives, and marketing executives.
Compensation will be competitive and commensurate with industry standards, with additional benefits such as performance bonuses and equity options. Our employees will be an integral part of our business operations, contributing to product development, customer engagement, and expanding our market share.

We plan to hire staff in a phased manner, starting with critical roles such as compliance and payment processing. As we scale and expand, we will hire additional staff to support customer service, marketing, and product development.

Use of Funds:
Below is a summary of breakdown of how the investment in seed funding will be used:

Use Categories                                      Amount Used
IT infrastructure                                       $1,000,000
Staff salaries                                       $750,000
Marketing and advertising expenses        $500,000
Regulatory compliance costs                    $750,000
Total                                                   $3,000,000

These funds will allow us to develop and maintain our technology infrastructure, hire a skilled team, promote our brand, and ensure our compliance with industry regulations.

Exit Strategy:
As the business grows and becomes profitable, we will consider different exit strategies. One option could be to sell the company to a larger player in the digital remittance industry or a financial institution interested in expanding their offerings. Another possibility is to pass the business along to a family member or key employee who has demonstrated the ability to continue running the company successfully. Ultimately, the decision on the exit strategy will be based on evaluating the best interests of our shareholders and achieving the highest possible return on investment.

Regulatory Details:
Name of the Company : BD Chat
Company Registration No In Bangladesh : 
Company Registration Number in USA    : Under Process
Tax identification Number    :
Website          : www.bdchat.app
Server                : USA
Business Affiliate Partner & Lisence used : Stripe, 2Check out, Wise, Western Union
Countries under Operation                : Bangladesh, USA, Canada, UAE, Saudi Arabia, Malaysia, Singapore, Oman, Qatar. 

Registered Office:
BD Chat
Head Office: Road-3, House-123, Block-A, Pollobi, Mirpur-12, 
Dhaka, Bangladesh.
Cell: +880 13 1212 1616, E-mail: info@banglachat.net

Contact Information:
For inquiries, partnerships, or support

Please contact us at:
Email : info@banglachat.net,  
Phone : +880 13 1212 1616
Social Media.: Follow us on social media for updates, promotions, and community events.
Facebook : @BdchatMobileApp
Twitter       : @BdChatApp
Instagram : @BdChatOfficial

Join the BD Chat Mobile App community today and experience the convenience of staying connected with your loved ones and managing your finances, all in one place.

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