Second-hand shoe sales

Entrepreneur

About Me

I am Kenyan citizen aged 26 years. I graduated from college with a diploma in business administration. It was my desire to further my education to a bachelors level but this was not possible as i was not able to raise the funds to further my education. I tried to secure my self a job but this was not possible. I approached my elder brother for a small loan so that i could venture into business.
My brother was in a position to lend me five thousands that i used as capital for my business.
I saw an opportunity in second hand clothes and decided to venture into the business. I decided to deal and specialize in ladies wear as this seemed to be fast moving compared to mens wear. I moved into business despite my young age and after five months in business i was in a position to repay my brother and was in a position to foot all my bills.
Its now two years down the line and business is still going on despite the normal challenges. The business has enabled me to enroll for distance learning at a local university where am taking my degree as i run my business.
Its my hope and prayer that with time all be in a position to be an importer of the latter and cease to be a small scale trader and move to the class of a supplier.

My Business

Am a second hand clothes trader an my business mainly deals with ladies wear ranging from trousers, tops and dresses. The ladies seem to be good shoppers compared to men since they bargain less and they move with fashion and what is trending. second hand clothes are usually unique and it is rear for one to find a similar commodity in the market and a cheaper price compared to new clothes that are available in the shops and supermarkets.
I decided to venture into this kind of business mainly because it is requires minimal formalities and the only formal document i required was a trading license from county council and capital.

The costs of running the business are as follows;(costs in dollars)
Transportation cost from 01/10/2014 to 30/10/2014 - 27.31
Stock as at 30/10/2014 - 169.34
City Council License - 16.39
Security for October - 3.82
Storage cost - 16.39

Sales For October -277.38

Profit for October - 71.44

From the above profits i was in a position to pay pay for my house rent worth 38.23 dollars and the rest was for my upkeep

Loan Proposal

Its my prayer that i will be in a position to introduce new range of products into my business. My wish is to introduce shoes that will help in boosting my total revenue that will assist me in realizing my dream of owning a clothing shop and eventually being a supplier.

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