Equipment for my barber shop
Prince Haruna
Bandah Nkwantah., Ghana
100% repaid
Entrepreneur
Name
Prince Haruna
Member since
February 2015
On-time repayments
94 installments • 69%
About Me
I am Prince David Haruna, and a junior high school graduate. i have three siblings, all female. so i am the only male among the children of my parents.
Been the only male, i was trained to be a man very early in life. Then the most important virtue i was taught by my dad is hard work which has helped me very well over the years since in my barbering business if you don't like working hard and been innovative with the styles of the day, you will soon be thrown out of business because new styles come everyday.
Right after junior high school, i could really barber so i decided to do that instead since my parents were not financially sound. so i began working and i used the profits to help my parents to educate my sisters.
Today, when ever i visit them, i feel so proud of that decision i took since they are all high school graduates now. two will be going to college in September and for that matter i am working so hard so that i will be able to support them through my parents when the time comes.....
My Business
I am a barber and i am into barbering. i barber both grown ups and children. and i also do styles for ladies. in my community, i am the first barber whose name comes into peoples mind due to the good cut i give people.
i choose this kind of business because i loved to barber even at an early age for free and as i completted junior high school i realized that the barbering shops were not many in my locality and that these barbers could not barber well too. then the profit margin is amazing so i decided to set up my shop and i have been into it for more than five years now.on average, i make about $18 in a day and after taking all expenses out, i have on average $12 as profit a day.
i then save 50% , i live on 20% and i give 30% to my parents and siblings.
Loan Proposal
When and if my loan is fully funded, to which i believe it will, i will use $60 to buy three different barbering machines.with each costing $20. then i will use $20 to buy a sterilizer machine to sterilize the barbering machines.then the remaining $20 will be used to buy blade and cotton wool for the cleaning process.
this will help me to employ one additional barber and help reduce to congestion that i sometime experience in my shop.
the sterilizer in particular will help the prevention of transmittable diseases to those whose do not have them. By so doing i will be helping in the prevention of these diseases such as HIV.
i expect that with the new hands on board and the new machines, my profit margin will increase by as much as 40% and this will allow me to repay the loan on time and as scheduled.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Feb 23, 2015
Repayment status
On Time
Projected term
6 weeks
Other loans
Lenders
United States
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