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COMPANY PRESENTATION

Blueberry Travel was founded in 2011 by Jaimee Mohit and Gassen Ramen upon their return to Mauritius. Before that, they had been in Dubai for 12 years, and also managed a travel agency and tour operator there. Blueberry Travel was conceived so as to unlock Mauritius to the rest of the world, while also catering heavily to demand for business trips to and from Dubai. From this original goal, Blueberry has grown into a service that offers diverse services and innovates to create a better customer experience.

The travel agency, located at La Louise, Quatre Bornes, now has partner airlines and hotels throughout the island and connects Mauritius to the world with exceptional service and a diverse service offering that includes airline tickets, hotel bookings, travel insurance and activities it carries out locally as a licensed Mauritian tour operator.

Blueberry Travel is currently looking into expanding their market share by leveraging online services and platforms to make their packages, bookings and services more accessible. Their first experiment with this is “Rodrigues Travel Expert”, an online tool for discovering and booking packages to Rodrigues. This integrated platform is owned and managed by Blueberry Travel.

 

PROJECT PRESENTATION

As part of its strategy to expand locally as well as regionally, Blueberry Travel is seeking MUR 1,000,000 to create a unique platform using the latest state-of-art technology to make its services instantly available to its potential customers.  They will open a  new branch in Triolet, which will inevitably give them a far bigger reach in the northern region of the Island. Based on the rate of growth of the company’s market share, Blueberry Travel intends to become among the top five travel agencies by mid-2021.

Key Loan Terms
Amount: MUR1,000,000
Term: 36 months
Profile: Monthly Amortizing
Interest Rate: 12% per annum

For an investment of MUR100,000, the monthly repayment to lenders will be MUR3,321.43.

 

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KEY FIGURES

MUR 30/06/2019 30/06/2018
BALANCE SHEET
ASSETS
Non-Current Assets 2,189,290 635,948
Current Assets
Cash 151,719 824,887
Others 35,317 0
Total Current Assets 187,036 824,887
Total Assets 2,376,326 1,460,835
EQUITY & LIABILITIES
Share Capital 100,000 100,000
Retained Earnings 629,786 (55,663)
Others 0 682,775
Total Equity 729,786 727,112
Non-Current Liabilities
Long-term Borrowing 1,512,825 0
Total Non-Current Liabilities 1,512,825 0
Current Liabilities
Current Tax Payable 75,561 17,118
Trade and Other Payables 58,154 716,605
Total Current Liabilities 133,715 733,723
Total Liabilities 1,646,540 733,723
Total Equity & Liabilities 2,376,326 1,460,835
INCOME STATEMENT
Revenue 3,783,783 1,720,917
Cost of Sales (0) (0)
Gross Profit 3,783,783 1,720,917
Administration Costs (2,903,034) (1,576,447)
Other Expenses (106,523) (55,368)
EBIT 774,226 89,102
Finance Cost (13,216) (13,332)
EBT 761,010 75,770
Taxation (75,561) (17,118)
Profit After Tax 685,449 58,652

THE TEAM

Gassen Ramen and Jaimee Mohit both specialized in hospitality and management at the tertiary level. Furthermore, they worked in the hospitality sector in both Mauritius & Dubai for more than 18 years. Both of them partnered with a local travel agency in Dubai and managed the same for some years. Jaimee also practiced commercial real-estate with RE-MAX during that time. Upon returning to Mauritius, Jaimee and Gassen founded Mataboom, Mauritius’ first discount-package portal.

Gassen Ramen and Jaimee Mohit are co-directors of Blueberry World Ltd, the parent company they incorporated to hold Mataboom as an ICT activity. They are also directly involved in the day-to-day operations of Blueberry Travel, as it is also a subsidiary of this group. They are helped by four other staff who handle bookings and engage with clients.

 

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