Additional equipment to employ another hairdresser in my salon

Martha

Nairobi, Kenya

100% repaid

Entrepreneur

Name

Martha

Member since

February 2015

On-time repayments

181 installments  •  69%

About Me

My mum owned a salon when i was young and anytime she went to work i could either accompany her or after leaving school i had to drop by her work place before we could all go home together.Anytime a client would come with unkempt hair after several hours after my mum work on it the outcome was always awesome.I grew with the interest of one day becoming a great stylist with a state of art salon and also owning a depot whereby i will be supplying all types of hair and cosmetic stuff.

After finishing college in hairdressing i started hunting for a job in Nairobi.It was hectic since most employers didn't want to pay a monthly income and they opted to pay me commission.It wasn't a smooth ride since the city was expensive and sometimes i could not get my hands to work due to scarcity of clients and also we were many in the salon and that means that day i couldn't earn my commission.I really prayed hard for God to open a way for me since i was really in a bad state.

In 2011 i landed in a salon where my boss loved my work and fully entrusted me with her salon.Anytime she was a way i acted as a manager.It came a time when she got green pastures and wanted to sell off the salon.Since we had created a friendship and didn't want me to suffer she recommended me to take over the place and could be paying her on a monthly basis until i clear the balance.And that's how i came about to owning a salon with equipments after repaying her after two years.

My Business

My source of income comes from providing my services of hairdressing and also i pick hairs in bulk from a wholesale cosmetic at a cheaper price and use it on my clients who pays the standard price of retail.Therefore from a client i benefit in both ways.My services include braiding,weaving, manicure, pedicure and also i do dreads.

The services are greatly in demand since the place my salon is situated most people are working class and always want to look neat when going to work and also their children anytime they go to school i make their hair.

I choose this kind of business since it has always been my passion since i was young and also i have my livelihood catered for.

My typical costs include paying rent for the premises and also buying certain hair oils.My revenue comes from the services i stated earlier and also anytime i source hair from the whole sale cosmetics i come over and sell to my client at a retail price.

I use my profits for reinvesting in my business and also home improvements.

Loan Proposal

I want to thank everyone who funded my first loan.It was a stepping stone to my future success.When i get funded i would like to purchase an additional blow dryer which cost $37 and the remaining $59 i will purchase the Abuja braids which are used to braid and also used if someones wants to have a weave on her head.One packet of the Abuja braids cost $0.44 this means that i will be able to purchase 134 packets which i will resale one packet at $0.77.

The loan will benefit me since with an additional blow dryer i will be able to employ another stylist who will assist me and it will also lessen the frequent queues i normally have on weekends and when the kids are out for their mid term holiday.With the braids available in my salon it will save time used by clients to source for a place to buy the Abuja braids.This way it will increase the profit margins higher than what i normally get.
It will also benefit others in that with adding another blow dryer it will create employment to someone and also the clients will experience a more satisfying experience without wasting time and the long queue will lessen.With the additional assistant it will mean quality services since we will share task and no one will be overworked.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$99.00

Date disbursed

Apr 10, 2015

Repayment status

On Time

Projected term

2 months

Lenders

Paul Buchheit

Mountain View, United States

johnhudson

Washington, DC, United States

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