Interview with Edward Mbeche, CEO of Halen Technology
Woh are you Tell us about you?
My name is Edward Mbeche. I grew up in a small village in rural Tanzania. I moved to America about 22 years ago. I am the founder and CEO of Halen Technology; A user-friendly “super-app” that uses a franchise-based business model. I’m a serial entrepreneur who believes that persistence can make almost anything come true.
What is the Super-App?
A super-app is a mobile app that provides multiple services on a single platform, a “one-stop-shop” or an online platform that encompasses many aspects of personal and business life.
What does “success” mean to Halen?
Success to Halen is, at the very least, a franchise in every city across the country, which makes life a little easier for everyone in that community.
Is Halen suitable for the product market?
We combine several markets at the same time. In the mobile delivery industry, we will be discussing the ridesharing, food, grocery and retail markets. And then there are the vacation rental and flight reservation markets. I know that sounds like a lot, and it is, but it is totally doable with the system and the team that we have in place.
How exactly does the company develop talent?
For the most part, we discovered talents rather than developing them. And what I’ve learned is that success doesn’t just come from acquiring talented people, but also recognizing that talent along with motivation, hunger and dedication.
When does the business expect cash flow to break even?
If things go as planned, and of course there is an element of luck with that, we plan to break even in our second year of running at full speed.
What does team collaboration look like in the company?
Pretty similar to most other companies I imagine. We have our core members who are the heads of their departments. And depending on what is most essential at this point, some talented people are stepping in to get things done. And, of course, virtually everything is happening because of the pandemic.
Does the company have an exit strategy?
We have two. Looking at what’s going on in the world when it comes to business acquisitions and mergers, we would expect to make enough noise and shake things up enough that at least one (probably more) company is looking to us. make an offer. And if we like the way things are going on our end, then we have the option to keep going until we go public. Either option will be the most satisfying for our investors, I’m sure.
Has anyone already left the startup?
Yes, some of the original members have left. It was for one of two reasons. First, they couldn’t devote the time and attention to growing the business, or their production was not up to our standards. As I mentioned earlier, talent is not enough to be successful in this industry.
Does the company have a self-service product?
Not in the conventional sense, no. Our flight reservation and vacation rental services are the closest thing to self-service. A person will have to fill in the relevant information themselves because they know where they want to travel or where they want to stay during their vacation.
How Much Money Can You Make?
That, of course, depends on who you are referring to. As one of our mobile delivery partners, the fluidity of the four different gigs that are constantly available allows for continuous income throughout the time they drive. So how much depends on them. As an investor who had the vision and the courage to support our business from the early stages, he envisions six, seven and even eight figure returns.
What does success look like for the business?
Success for Halen, of course, means financial prosperity. We are a company and we have investors, and everyone taking advantage of their hard work and dedication would be a good thing. But full success for Halen will also mean that the communities around our franchise partners will be strengthened. Drivers from this community who earn a living wage. For clients in this community, having their life made much easier because Halen is there to support them with their daily needs. Merchants who grow their businesses with the participation and support of Halen. And a community benefiting from the various services, charities and events that Halen seeks to organize and sponsor. So it would be a complete success for Halen.
What is the biggest risk for the business?
At this point, the biggest risk for Halen is believing that enough good people can see the future the way we do. While we do it seems pretty basic, we’ve come across a lot of people who just can’t seem to get it. Even with the increasing amount of information flowing daily about the success of Super Apps in other parts of the world and from large companies like Facebook, Uber and PayPal all expressing interest and in some cases taking steps towards Super Apps. -App, there are still a lot of people who don’t see that we are leading the evolution of mobile delivery in this country.
What is the current track and what are the future financing plans?
We estimate that our current lead is towards the end of the second quarter in 2022. We have launched our WeFunder campaign and have already received generous sums from investors. But of course, we’re just getting started and looking for significantly larger numbers. Our goal is $ 1.5 million to get started. Once this goal is achieved, our franchise business model will take over. Franchise owners will have to pay the franchise fees and profits from the app itself, which will minimize the need for major investors to keep the business running. So we should have some leeway to strategize when and how much funding we will need to move forward.