40 installments • 45%
I am a married woman with two children, a boy and a girl. I live with my husband at Muisho Wa Rami in Nakuru County. I moved to Mwisho wa Rami after marriege. My father and mother stay in Limuru. My Husband is from Nyahururu. He works as a mansion in Mwisho wa Rami. I have studied up to form four. I completed my form four studies at Ngarariga girls secondary school in 2004. After that, I started helping my mother in selling greens (cabbages, potatoes, peas, bananas, Oranges) and other items at Limuru town market. I assisted her until the end of 2006. In January 2007, I moved to Nakuru Town where I was employed by my Uant as a sales assistant in a supermarket. I worked at the supermarket until May 2009 when my husband, David kariuki proposed to marry me. We did customary marriage and I had to go tolive with him at Mwisho wa rami where he was working as a mansion. After marriage, I was employed in a mini-supermarket at mwisho wa rami but I left after I gave birth to my first child in August 2010. I was replaced and could not go back there. In February 2011, my husband supported me with some cash and I opened a shop for cosmetics, women hair and other beauty products. I have been operating the business until today. I started the business because it was the most lucrative option there. Having gained experience in Nakuru town, I found that many of the common beauty products are not sold at Mwisho wa rami. In fact, there was only one seller and she had a few products. I have managed to gain leadership in market there. I bring different varieties of beauty products that my one only competitor does not have. She has many businesses and she does not concentrate much on her beauty shop. Mwisho wa Rami is a famous place that is developing quickly due to increase of businesses. All farm and forest products are transported from there. As the population increase, I get new customers daily. My only problem is that I am unable to have adequate stock sometimes due to lack of enough capital. In some cases, I move to Nairobi to purchase more stock, a journey that is costly and takes the whole day. With enough money, I can add adequate stock and reduce transport expenses. Also, I will satisfy customers who sometimes find that some products are out of stock. I use slightly above half of income from the business to augment husband’s income to support family expenses. I save around 20% of the income to hedge for shocks in business performance. I put the rest back to business.
I will be paying my loan using my income from my business and also from my savings. I also have joined a merry go round group that one can request for support or payment any time in case of difficulties. The may go round will also support me to pay the amount. My business deals with different varieties of cosmetics, different varieties of hair and other beauty products desired by customers. The god thing with my business is that most of my products take long before they expire. I always sell at a price that higher than the buying price and thus, the possibility of loss is low. I have managed to learn the likes of people in the area and I always give them what they want. Almost all saloons n the area buy products from my shop and this has helped to increase demand for my products. Generally, this explains the reason why risk of loss is low. I started with a stock of $136.827 but it has expanded to $ 667.029 . I get an income of around $273.653 without deducting expenses. My expenses include transport cost of $57.0110, rent of $34.2066 for the beauty shop, electricity and $2.28044. I also pay license of Kshs $41.0480 per year. This means that my net income is about $176.734. Although the net income may fluctuate, I have never gone at a loss since I started the business. I have always wished to increase my stock in order to reduce expenses such as transport and to take advantage of purchase discounts. This can help to increase my income. But my problem is only lack of enough capital. I am ready to expand my business with the help of lenders and Zidisha. I promise to co-operate and to have good relations with you. Please lenders, I seek your support for my initiative. Thank you.
Welcome all to fund my second loan for my cosmetics business. I thank all who supported me and I worked hard to repay and ensure that I stick to my promises. I added stock to my business and the fruits are visible through increased profits. I will use the loan that you will give me to add stock to my cosmetic business since I have shortage than demand. Some of the brands that customers want I do not have because of lack of sufficient fund. I will use $142.89 that you will give me to add more different brands of hair and cosmetics and increase customer satisfaction and value. Unless I sell to the customers in my remote area, they can only access them more than 80 miles away. I get them at good prices in Nairobi city more than 400 miles away at much lower prices than the narest town 80 miles away. so, I sell at better prices than competitors and earn well. If I can add stock, I can even be able to sell to the retailers and eventually become a wholesaler. I will appreciate any of your support to make my dreams real; to be a wholesaler of the beauty products in future. I will be able to settle my loan using sales and proceeds from merry-go-round. Thank you
Oct 30, 2014
Cost to entrepreneur
Lender interest: $144.56 at 5.99% annual rate over 3 months = $2.40
Service fee: $1.47