New phones for my communications shop

Entrepreneur

About Me

I grew up as the first born in my family of three siblings. Being a first born taught me responsibility at a very early age and the possibility of being a sole breadwinner has always been real because we grew up with a single parent. We had our ups and downs as a family but my mum always pushed us to be the best in life and go after our dreams. I always believed I want to be a great business man, and my dream has come true. I started the business that I always dreamed of , a communication business selling mobile handsets and accessories. Communication has always fascinated me and being able to do a business within the communication industry is a dream come true
My education was quite smooth and I graduated with a diploma in business management and marketing, which makes me an ideal candidate to run a business. I am excellent at record keeping and communication thus being able to convert customers into loyal fans.
I started my business after doing several jobs supplying stationery in a local school. However, this was a one-time opportunity so I used the money raised to start a community communication center.
The land culture in our country is unique in that the land is usually controlled by the countries elite and the rest is in the hands of the older generations, leaving youths like us without land.
My child want to be a pilot when they grow up so I have to work hard to make sure their dreams can come true. I know it’s a big dream for him as a child but I always tell him to believe in the power of dream because dreams always come true. When nurtured and taken care of they turn into great things.

My Business

I sell quality and affordable mobile phones and other phone accessories such as phone chargers and earphones. The goods I sell are useful and in demand because one is they are cheap to buy and maintain quality and require little or no maintenance and enable people to keep in touch with their loved ones.
By bringing the phones and accessories to the grassroots levels ensures the residents do not have to travel long distances to the central business center to purchase phones thus saving them time and travel expenses. The handsets also enable the residents to call emergency services in case of a robbery or medical emergencies. The sudden rise of mobile money transfer services in Kenya has made the access to a mobile handset a bank in hand. Mobile money transfers are a tool for self-reliance and empowerment for people who previously did not have access to any form of banking services. The handsets allow residents to access critical mobile money transfer services in Kenya such Mpesa and Airtel Money. And that is not all. The mobile phone handsets allow the users of those mobile phones to access cheap loans such as Mshwari and the newly launched
I chose this kind of business because the communication industry is growing rapidly with the younger generation purchasing their first phones at an early stage and the mature replacing their older phones to keep up with the trends or simply because they are faulty, damaged or lost.
I use the money I raise from my business to re-invest in the business because my vision right now is to grow big. My costs are few; levy paid to the county government is the only one and wages for my assistant when I have to be away. Which are not very high relative to the size of the business since most of the time am the one who operates it.

Loan Proposal

I will buy new phones worthy $120 and use the remaining amount to cover expenses for my assistant’s salary and pay levy to the county government. I will add the new injection of capital to increase my stock and variety of the phones I sell from my stand.
The new phones will ensure that we offer a wider range of products to our customers. Most of our customers are asking for touch screen phones while we stock most button phones. This means we are not including all the people in our product offerings.
I would also like to invest in a modest branding for our shop to increase our visibility in the market so that we can increase the number of leads and the customers trying out our phones to enable us to convert them into customers.
I expect my profits to increase by 20% since we stand to make better profit margins on the higher end phones compared to the cheaper phones which have minimal margins. The branding will attract even more customers and create excitement around our products. Branding is an essential part of any business that wants to grow and I would like to create a more vibrant image for my shop on top of adding a new variety of product.

Feedback

Loan Info

Lenders