Buy a taxi to employ another driver and fund my studies

Entrepreneur

About Me

I am single, a Catholic Christian I attend Christ the King cathedral in Nakuru. I was born in Kisii County. I attended my primary school at Machruriati Primary school later on joined Tabaka High School. I later went to Hightech college of accountancy which is situated in Kisii Town. Currently I live in nakuru town racecourse approximately one and half kilometers from town (Nakuru). I work at Uhuru High School which is situated in Soilo location approximately 7 Km from Nakuru town. I am a school Bursar and I have been holding that position for the last 4 years. Where I have established harmonious working relationship with the school society and also the surrounding community. Apart from that I do operate a taxi business along Nakuru – Salgaa route . I have been able buy a plot of land in ngata 8kilometres from Nakuru town.

My Business

I have been operating a taxi business for the last two years along Nakuru - Salgaa route, my business has effective demand because of the high number of people travelling to salgaa and from salgaa to Nakuru town and the limited number of vehicles in the route. My customers prefer my services in favor of my competitors due the fair charges I charge, honesty and trustworthy services that I offer to my customers. Also I have been able to maintain a good number of customers who commute on daily basis along the route. Customers also prefer my curb because I keep time, level of cleanliness and the good condition of my vehicle. I have been able to purchase a plot of land in Ngata (8 kilometers form Nakuru town) and fund My part time studies from my taxi revenue. I would like to expand my Taxi business by acquiring another Taxi Curb due to meet my customers demand. But I have been facing financial problem due to the high intrest rates charged by the banks when acquiring a loan. I incur expenses such as:-
Maintenace cost 20,000.00
Fuel 2000 x 26 52,000.00 Labour 12,000.00
Car wash (150 per day) 3,900.00
Misc:
Drivers lunch 100per day 2,600.00
@ 26

My montly revenues are approximately 135,000.00 and a profit margin of approximately 30,000.00 per month. If I can get a new curb I will be able to cut my maintenance cost and increase my profit level.

Loan Proposal

i invested my first loan wisely, i repaired my car bought new tyres and made my customers happy with my services. my returns doubled over the Christmas season and in the month of January. i will use my second loan as an additional capital to buy a second hand car (imported from Dubai). the car will operate in Nakuru town. transport business is booming in Nakuru town since the devolution took place. there so many activities taking place and my customers have increased in a high rate.

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