Addition of more varieties of cereals in my shop

Entrepreneur

About Me

I am the second born in a family of three. I was born and brought up in the village by my single dad who is a peasant farmer. He managed to educate me until I attained a bachelor‘s degree in education. After my studies, I got a job as a teacher and from there I started a general shop to improve my earnings get a better life. I use the profits to expand my business to a reputable size so that I can generate more and create more employment to the people affected by great unemployment levels in our country.

My Business

I run a general shop as my business, with a total monthly income of around 1200 dollars out of which 700 dollars is profit. I am advantaged to operate in an area with high population and a high demand for basic commodities and low competition. I always ensure excellent customer relations and also I provide goods at very fair prices therefore ensuring that I maintain my customers. Expenses in my business include rent, electricity and water that take up to 150dollars. I also restock every month the commodities that include flour, water, rice,sugar, soap among others. The risks the business faces include price fluctuations and changes in customer demands. These are handled by buying stock in bulk when prices are fair to avoid very high prices that in turn affect customers and buying commodities that customers need at different times respectively. In case I do not get enough profits to repay the loan, I will use my salary from teaching to repay it.

Loan Proposal

I intend to use the loan to buy varieties of cereals that i do not have in my shop currently but they are highly needed by my customers. This will help me generate more profits and improve my customer satisfaction. I kindly request the lenders to support me so as to enable my shop to grow to a reasonable size and also generate more employment opportunities to some unemployed youths.

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