Bequester startup restarts for a second chance at success
“Buying something takes time, you have to look for suppliers, call them and this takes time. But with us everything is done for you at a lower cost,” says Thabo Makenete, co-founder of Bequester, a website that facilitates the buying and selling of goods and services between small businesses.
Connecting suppliers and buyers
Bequester helps to connect suppliers and customers both of which must be small businesses. Interested buyers request quotations from multiple suppliers by posting the product and price they are looking for. Bequester then sends email alerts to their database of potential suppliers who then bid by posting their prices, which are displayed on the website. It is up to the business owner to choose the supplier who offers them the best product at the right price.
Makenete and co-founder Grant Monareng first launched their platform in February last year and re-launched earlier this year after sorting out bugs in the platform.
Monareng says Bequester lowers the costs associated with buying by cutting down on time spent getting quotes. “The costs incurred when one is chasing business leads are very high, one has to make several calls and this is expensive.”
Bequester makes money by charging a fee for each transaction made. Suppliers are charged 1% of the value of the product that they bid, 3% is charged for every transaction made.
Makenete says their focus on small businesses is what makes them unique as there are companies online with a similar offering.
The founders are also looking to launch a mobile app for Bequester in the next three months. Monareng says an app will make it easier and quicker for suppliers to respond to business leads.
Bequester has so far generated 1,700 users since their launch last year. The twosome have already raised funds to help market and develop their business, and have also identified future potential partners.