Duration

10 months

Min. Investment

৳ 10,000

Projected ROI

16% per annum

Risk Grade

B+

Repayments

3 installments (Starting from the 5th month)

Overview

Larky Parky is looking to raise funds to cater to festive period orders of ready made garments. Their products mostly include denim jeans as well as some other items like shirts, t-shirts and boxers. Your financing will help them serve large orders just before Ramadan and maintain a steady business over the next few months.

The business has repaid 60% of its previous repayments. Every repayment was made right on time.  

This is a halal “buy-and-sell” (Bai’ Murabaha) campaign, and investors will be able to enjoy an ROI of about 13.34%* for an investment period of 10 months.

*subject to investment risk (details below)

Uttara, Dhaka, Bangladesh

Larky Parky [2]

৳ 777,600 Raised
৳ 0 Being Processed
0 Days Left
Raised:
111.09%
Goal: ৳ 700,000
The campaign is successful.
By Saif
61 Campaigns | 0 Loved campaigns

The Business

Accordion Content

  Larky Parky started operations in 2013 with stock lot business. Over the years, they have maintained a good network of entrepreneurs and they wholesale their products to these showrooms all over Bangladesh.

Larky Parky‘s products mostly consist of denim jeans as well as some other items like shirts, t-shirts and boxers. They have a Whatsapp group where they market these products to their local network of retailers throughout the year.

However, they are also developing a profitable buying house model by which they are catering to foreign orders from mostly India and Malaysia (and recently Dubai, Qatar and Fiji). On receiving the orders, they outsource them to small-hold garment factories in Dhaka for manufacturing and then deliver the items to buyers.

Currently their funding requirement is to address good quantity of local demand just ahead of Eid, and also maintain steady cashflow for the next few months.

The business has repaid 60% of its previous repayments. Each repayments were made on time.  

Office Location: House: 19 (Lift-02), Road: 01, Sector: 09, Uttara, Dhaka

 

Some products that Larky Parky sells can be viewed by Clicking Here

Md Golam Sarwar Rashel is an educated entrepreneur who completed his MBA in 2016.

His career started in 2007 with freelancing where he worked with web development and SEO. In 2012, he started working as an Assistant Merchandiser in a buying house. Inspired to start his own venture, he left his job in 2013 and started his clothing business Larky Parky.

At present, he has two other businesses besides Larky Parky – a small grocery business in Uttara named Daily Food Shop and an IT business named Uffra (uffra.com).

Mr. Rashel in his new office

  • Educated founder with industry experience
  • Established customer network for wholesale business
  • Multiple revenue streams to help navigate through economic turmoil
  • Paid every repayment on time for the first fundraising

The Contract

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The investment is for a period of 10 months, from end of March 2023 to January 2024.

  • Projected ROI (for the duration of the project): 13.34%
  • Projected ROI (annualized): 16%

biniyog.io will NOT charge the investors any fees for this service.

Example: if someone invests BDT 100k in the project, he/she can expect to receive a total of about BDT 113.34k by January 2024 in instalments.

  • Investors will go into sale agreements with Larky Parky and the factory which will manufacture the required products
  • It will be a “buy-and-sell” contract, where investors will first ensure manufacturing of products from the factory through biniyog.io. Larky Parky will then buy those items from investors on credit and pay the amount in pre-agreed instalments.
  • biniyog.io will act as an agent for the investors and buy the products from factory, take necessary ownership and risk of asset possession on their behalf, and then sell to Larky Parky.
  • biniyog.io has proposed a price to Larky Parky for the products after considering 13.34% profit on actual cost of product procurement. Larky Parky has agreed to it.
  • Investors can expect to get their returns in 10 months in 3 instalments:
    • 40% in August ’23
    • 30% in October’23
    • Final 30% in January’24

Shariah Compliance

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Investors appoint biniyog.io as an agent to deal on their behalf (Wakalah) and invest into the business through buy and sale of assets under an advanced buy-and-sell (Bai’ Murabaha) agreement.

biniyog.io‘s Shariah advisors have approved the basis and application of this Bai’ Murabaha contract.

Potential Risks

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  • Loss of foreign orders: At the moment, about 50% of Larky Parky’s business comes from foreign orders. Volume of these foreign orders may reduce in case of economic disruptions due to lockdowns etc.
    • Larky Parky’s strategy: Their established network of local buyers (mostly dealt with in cash) should ensure that they have a running business.
  • Inflation: Increase in raw material prices would impact selling prices to local buyers and may result in decrease in volume of sale.
    • Larky Parky’s strategy: For foreign buyers, Larky Parky operates on a fixed profit margin per product and the impact would be transferred to the buyer when they sell the products in the foreign market.

biniyog.io will buy the products on behalf of investors first and secure ownership in the factory premises. The products will then be handed over to Larky Parky within a very short time frame.

Larky Parky would have the right to reject the product due to quality and other order specifications. The risk is expected to be minimal since it would be a factory that they regularly work with for similar orders.

This is a necessary risk to ensure Shariah compliance of the transaction.

The instalment structure has been arranged such that the business can run operations smoothly without being burdened by repayments.
biniyog.io has done in-house analyses of the projected returns of the business, and they are expected to be able to repay on time.

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Please note that the business may be given an incentive in the form of a discount on early repayment, which can only come in effect if the investors agree.

Following example is an illustration:
If the business repays within 8 months, the markup profit can be 12% (instead of 13.34%). This benefits both parties – the business has to pay back less and investors get their money back faster at a higher annual rate of return (e.g. 12% in 8 months means 18% per annum)

Larky Parky will share instalment cheques with biniyog.io. A personal guarantee security cheque will also be kept from the business owner.

Disclaimer

This investment opportunity is based on a first come first serve basis. Your investment is secured only after your transfer-proof has been received. If the investment quota is already filled, your transferred amount shall be returned.

Return of your capital is NOT guaranteed. Investment, by default, requires a risk appetite. Past performance is not a guaranteed indicator of future outcomes.

biniyog.io only acts as a consultant to the investor and the business, and does NOT manage funds for any party.

biniyog.io does risk assessment to a certain extent, but will NOT be liable if the business does not perform as per expectation.

For any questions, please use the chat icon on the right or leave a message.

  • 05-03-2023

    This campaign is now live on biniyog.io!

    The funding campaign has started. The target is BDT 7 lac.
  • 28-03-2023

    This campaign is successfully funded!