To purchase additional inventory for my shop

Benson

Nakuru, Kenya

2% repaid

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How it Works

Entrepreneur

Name

Benson

Member since

January 2015

On-time repayments

55 installments • 2%

About Me

I am a first born in a family of seven. Growing up, my parents were poor and it was difficult to come up with food and school fees. We had to face harsh living conditions with my parents. After struggling to complete my O-level education, I acquired a little knowledge on how to operate a small business on my own to help my family. I also read novels as a hobby. In particular, I read those that talked about entrepreneurship and in turn developed an interest in operating a business. However, when I completed my schooling, I faced a challenge of capital to help me start my business since I had little skill in business management.

I started being hawker in Nakuru streets to get some income and to help my parents raise my brothers and sisters. After that, I got a small shop where I would be able to display my products. I started by first selling milk from our cows. From that income I was able to finance some additional inventory, bringing in different products including consumable products such as tea leaves, sugar, and milk from young farmers to keep my shop up to date. Despite my small, my business can now help my family; my brothers and sisters are moving ahead in their education and have different expectations when they grow up.

My Business

I have been operating a dairy shop for the last two and half years. I started these type of business Nakuru has a very high population, which gives me a very good demand. The products that I sell are chosen based on availability and demand. I usually earn $30 to $35 per day with a profit of nearly $5 to $7 per day from milk sale only. All other products earn me $3 per day combined.

Competition here is minimal and I have an advantage over the existing competitors. I buy my milk from young farmers during rainy season when the price is very low, boil it properly and then putting in a fridge to avoid milk going bad so as my customers get fresh milk. I sell my products at a very friendly price which keeps on attracting more and more customers earning me big profit at the end. Hence, my products have a high demand in the area.

Loan Proposal

The loan will help me purchase more stock especially the products that are on daily demand like milk, tea leaves, and sugar. I will add more litres of milk 40 litres that will cost me $20, also I will able to add sugar and tea leaves at the price of $10. Other products that I also sell will be purchased at $5. After the sale of all the products my profit will increase by 20% and this will increase my living standard as well as that of my family members. Through the addition of my stock, my customers will never run out of supply and this will bring convenience whenever they are in need of my products and increase their living standard as well.

Show original English

About Me

I am a first born in a family of seven.But my parents were poor in that were not able to improve our living standard by which school fees was hard to get and also food for the day. We had to face the harsh living style with my parents. I struggled to complete my O level education to acquire little knowledge on how to operate a small business on my own to help our family. When I completed my schooling, I faced a challenge of capital to help me start my business since i had little skill in business management. I started being hawker in Nakuru streets to get some income and again help my parents raise up my brothers and sisters. After that I started by first getting small shop where I would be able to display my products which I started by first selling our own milk from home that I got from the five cows that we have. Thereby I got some finance to add my stock by bringing different products like tea leaves, sugar among other consumable goods and also I have been able to purchase milk from young farmers that has maintained my shop up to date. My business can now help our family however little it is and my brothers and sisters are moving ahead in their education and have different expectation when they grow up. My hobby was reading novels more so the ones that talk of entrepreneurship that made me have interest in operating a business.

My Business

Because of ever increasing demand of milk, shop products such as tea leaves,sugar and many others. I have been operating a dairy shop for the last two and half years. I started these type of business Nakuru has a very high population which gives me a very good demand. I chose the products due to its great availability and demand you cannot miss to make a sale.I usually earn $30 to $35 per day and safe a profit of $5 to $7 per day only for milk sale and other products earn me $3 per day.Competition is minimal and the existing competitors i have an advantage over them. I buy my milk from young farmers during rainy season when the price is very low, boil them properly and then putting in a fridge to avoid milk going bad so as my customers get fresh milk. I sell my products at a very friendly price which keeps on attracting more and more customers earning me big profit at the end.Hence,milk has high demand in the area.

Loan Proposal

The loan will help me purchase more stock especially the products that are on daily demand like milk, tea leaves and sugar. I will add more litres of milk 40 litres that will cost me $20,also I will able to add sugar and tea leaves at the price of $10. Others that I also sell will be purchased at $5.After the sale of all the products my profit will increase by 20% unlike previously and this will increase my living standard as well as that of my family members.Through the addition of my stock, my customers will never run out of supply and this will bring convenience whenever they are in need of my products and increase their living standard as well.