Beverage refrigerator and metal security grille for my shop

Lydiah Rutere

Juja, Kenya

40% repaid

Entrepreneur

Name

Lydiah Rutere

Location

Juja, Kenya

On-time repayments

318 weekly installments  •  36%

About Me

I am a Kenyan citizen born in Meru County, in a big family of thirteen children, being the second last in the family. I went to primary school and secondary school in Meru County and I completed my O level in 1999.

I later went to Meru Technical after one year to pursue an accounting course, since my passion was to become a banker or finance manager of a big company in the future. I started at ATC level and I proceeded to do CPA after passing the ATC level. I joined Strathmore University in Nairobi for CPA, whereupon my father decided that I should stay in Nairobi since my mother had passed on so that my studies cannot be interrupted by the loss of my mother.

I was able to do the CPA up to part III section V but, due to the competition in the job market, I decided to pursue a degree in business administration at Kenya Methodist University. While in the campus, I got a job with the sacco where I started as an account clerk and was then promoted to an accountant. In the same year I joined the campus, I lost my father after a short illness.

I was able to pursue my degree to the end, and I graduated with a bachelor of business administration accounting and finance option in 2012, but I was not able to continue with my CPA to do the final stage, since some of my other siblings were still in college, and the money was not enough to pay for all of our school fees.

After working with the sacco for five years, I decided to look for a job in another sector where the work was more challenging for my career growth and development. I was lucky that I got a two-year contract job with an NGO funded by international donors as a project finance and administration officer. After my contract was over, I got a one-year contract with a microfinance institution, where I worked as an administrator and I was also involved in business development, capacity building and groups mobilization.

After my one year contract, I joined a local bank as a customer relations officer for two years. I later moved to work with an insurance company up to this date as a financial advisor on savings and investment section. (This was after the bank was acquired by an insurance company.)

I started a business not only to help me have income supplement -- since my employment income is not enough to cater for all the needs, as the cost of life is becoming more and more expensive -- but it is also my passion to do business, and it comes as one of my goals in life that one day I will be a business owner and create employment opportunities to the increasing Kenyan population, and enable someone to earn an income to support their family and leave a dignified life.

The income from my business helps me to pay for my house rent, buy food and clothes, pay my employee and plough some money back to the business to expand it. I also support some of my siblings back at home. I would like to save more to enable me go back to school to complete my CPA final level and enroll for a master's degree, but the income is still not enough, as the business is still young and in need of more funds to expand it due to the increasing population and the demand of goods and services.

During my free time, when I am not in my business or work, I like interacting with an investment group, where we share ideas on different investment opportunities available. I am also a member of a christian fellowship and we meet regularly for prayers.

My Business

When the idea of doing business come into my maid after working in various sectors way back in 2011, I sat down with a pen and paper and listed down all the possible legal businesses that I could operate, starting with the easiest one to start with the minimum capital that I could afford from my savings, the affordable business licenses, and affordable human labour. This is how I settled on a general shop and first food cafe.

After I identified the business, I decided to do a market survey in different areas to identify the best location that I could locate my business. I had several areas that were potential location of my business after inquiring from my friends on those different areas, but I took time to visit these areas and do a feasibility study on the business idea that I was about to carry on in these areas, after analyzing different areas considering different factors such as accessibility, cost of renting the house, security suppliers (or availability of the commodity that I was going to sell) and the target customers I was able to identify.

The area where my business is currently located in Juja in Kiambu County. I started my business with a capital of $650 in September 2012. I settled on this area, as my target customers are mostly the students from Jomo Kenyatta University. The area was and is still developing and I realized that there were few shops in the area, and the ones which were around are located far apart from the student hostel. This area being under development, the permanent homes are very few and the number of houses that are being constructed are mostly hostels, targeting the increasing number of student joining the campus.

Being once a university student, I understood most of their needs and tastes. I decided to run a general shop in a unique style, selling all the household goods that are mostly the basic need. I also incorporated a first food cafe selling tea and sack and any other light food like chips, chapati, fruits and fruit salad. I target their busy schedules, special occasion like graduations, birthday and weekend parties held in hostels, where I offer different services like catering services.

With the increase in number of customers, I now want to expand my business. I seek the help of Zidisha for financial assistance to help me purchase more operating machines. I am currently in need of a fridge for storing beverages, as the majority of these customers need cold drinks most of the time. Other machines that I would like to include in my business are computers; a three-in-one printer, scanner, and photocopier machine; and a bidding machine. This is because most of the student are constantly in need of these services, especially when they are doing their assignments online, others are writing academic research project papers.

The business's average income is $293.75 per month with the fixed cost of house rent of $ 81.25, salary $87.50, water and electricity $12.50, licenses $ 46.67, other miscellaneous expense $12.50. Total expenses is $ 240.42. Net profit is 293.75-240.42=$53.33. My loan request is $1,651.188.

Part of the loan will be used to purchase beverage fridge at a cost of $ 937.50 and $713.668 will be used to purchase additional stock. With the availability of the fridge to store my drinks and additional stock, the sales turnover will increase and my net profit will increase, hence the fund will be available to repay the loan in eight months. I will be very grateful to the Zidisha community if you grant me this loan, and I believe I will grow and be able to become part of the leaders in this community. The people around me will also benefit, as I will be able to increase the number of employees, increase their salaries, and touch many more lives in positive way as I do business as a way of serving the humanity.

Loan Proposal

I thank all the lenders of the Zidisha for the support that they have given me, that I was able to expand my business and the profit for the business increased and I was able to pay my loan within the shortest time possible, right now as we approach the festive season I want to increase my beverages stock and also buy a beverage showcase fridge that I will be able to keep the beverage cold and in good display by doing this, I will increase my sale and profit per day will increase by 40%. on the other hand as I expand my business , security is very important at all time in order to protect and enhance the security of my shop I want to put up a mental grill at the shop door ,the showcase fridge will cost ksh 69 785,( $ 697.85) the security mental grill will cost ksh 6,080 ( $ 60.80).

Show original English  

About Me

Am Kenyan citizen born in Meru County. in a big family of thirteen children being the second last in the family. I went to primary school and secondary school in meru county and I completed my O level in 1999. I later going Meru technical after one year to peruse accounting course since my passion was to become a banker or finance manager of a big company in future. I started at ATC level and I proceeded to do CPA after passing the ATC level.I joined Strathmore University in Nairobi for CPA where my father decided that I stay in Nairobi since my mother had passed on so that my studies cannot be interrupted by the loss of my mother.I was able to do the CPA up to part III section V but due to the competition in the job market I decided to peruse a degree in business administration at Kenya Methodist University while in the campus I got a job with the sacco where I started as an account clerk then promoted to an accountant. in the same year when I had joined campus I lost my father after short illness. I was able to peruse my degree to the end and I graduated with a bachelor of business administration accounting and finance option in 2012, but I was not able to continue with my CPA to do the final stage since some of my other siblings were still in collage and the money was not enough to pay for all of us school fee. After working with the sacco for five years I decided to look for job in other sectors where the work was more challenging for my career growth and development,I was lucky that I got a two year contract job with an NGO funded by international donors as a project finance and administration officer. after my contract was over I got a one year contract with Micro finance institution where I worked as an administrator and I was also involved in business development , capacity building and groups mobilization after my one year contract I joined a local bank as customer relation officer for two years I later move to work with insurance company up to date as a financial advisor on savings and investment section this was after the bank was acquired by an insurance company. I started a business not only to help me have income supplement since my employment income is not enough to cater for all the needs as the cost of life is becoming more and more expensive but it is also my passion to do business and it comes as one of my goals in life that one day I will be a business owner and create employment opportunities to the increasing Kenyan population and enable someone to earn an income to support their family and leave a dignified life.The income from my business help me to pay for my house rent ,buy food and cloth,pay my employee and plough some money back to the business to expand it. I also support some of my siblings back at home, I would like to save more to enable me go back to school to complete my CPA final level and enroll for masters degree but the income is still not enough as the business is still young and in need of more funds to expand it due to the increasing population and the demand of goods and services. During my free time when am not in my business or work I like interacting with investment group where we share ideas on different investment opportunities available, am also a member of christian fellowship and we meet regularly for prayers.

My Business

When the Idea of doing business come into my maid after working in various sector way back in 2011 I sat down with a pen and paper and listed down all the possible legal business that I could operate starting with the most easiest one to start with the minimum capital that I could afford from my savings the affordable business licenses and affordable human labour. and this how I settled on a general shop and first food cafe. After I identifying the business I decided to do a market servy in different areas to identify the best location that I could locate my business I had several areas that were potential location of my business after inquiring from my friends on those different areas but I took time to visit these areas and do a feasibility study on the business idea that I was about to carry on in these areas after analyzing different areas considering different factors such as accessibility, cost of renting the house ,security suppliers or availability of the commodity that I was going to sell and the target customers I was able to Identify the area where my business is currently located in Juja in Kiambu county I started my business with a capital of $ 650 in September 2012. I settle on this areas as my target customer are mostly the student from Jomo kenyatta university .The area was and is still developing and realize that their were few shop in the areas and the one which were around are located far apart from the student hostel. this area being under development the permanent homes are very few and the number of houses that are being constructed are mostly hostels targeting the increasing number of student joining the campus. Being once a university student I understood most of their needs and taste I decided to run a general shop in a unique style selling all the household good that are mostly the basic need I also incorporated a first food cafe selling tea and sack and any other light food like chips ,chapati fruits and fruit salad.targeting their busy schedule,special occasion like graduations,birthday and weekend parties held in hostels where I offer different services like catering services. with the increase in number of customers I now what to expand my business. and i seek the help of Zidisha for financial assistance to help me purchase more operating machines. am currently in need of fridge for storing beverages as majority of this customers need cold drink most of the time. other machines that I would like to include in my business is, computers, three in one printer scanner and photocopier machine and bidding machine. this is because most of the student are constantly in need of this services especially when they are doing their assignment online, others are writing academic research project papers. The business average income is $293.75 per month with the fixed cost of house rent of $ 81.25, salary $87.50,water and electricity $12.5, licenses $ 46.67 other miscellaneous expense $12.50 total expenses is $ 240.42.net profit is 293.75-240.42=$53.33. my loan request is $1,651.188
part of the loan will be used to purchase beverage fridge at a cost of $ 937.5 and $713.668 to purchase additional stock.with the availability of the fridge to store my drinks and additional stock,the sales turnover will increase and my net profit will increase hence the fund will be available to repay the loan in eight month. I will be very great full to Zidisha community if you grant me this loan and I believe I will grow and be able to become part of the leaders in this community and the people around me will also benefit as I will be able to increase the number of employees increase their salary and touch many more life in positive way as I do business as a way of serving the the humanity .

Loan Proposal

I thank all the lenders of the Zidisha for the support that they have given me, that I was able to expand my business and the profit for the business increased and I was able to pay my loan within the shortest time possible, right now as we approach the festive season I want to increase my beverages stock and also buy a beverage showcase fridge that I will be able to keep the beverage cold and in good display by doing this, I will increase my sale and profit per day will increase by 40%. on the other hand as I expand my business , security is very important at all time in order to protect and enhance the security of my shop I want to put up a mental grill at the shop door ,the showcase fridge will cost ksh 69 785,( $ 697.85) the security mental grill will cost ksh 6,080 ( $ 60.80).

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Loan Info

Project Type

Classic Loan

Disbursed amount

$762.82

Date disbursed

Nov 24, 2015

Repayment status

Late

Projected term

68 months

Cost to entrepreneur

Service fee: $38.14

Lydiah opted to pay $119.61 into the Zidisha Members Loan Fund in return for a higher starting credit limit.

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