Business expansion by buying handbags in larger quantities

Gladys Gitonga

Nairobi, Kenya

100% repaid

Entrepreneur

Name

Gladys Gitonga

Location

Nairobi, Kenya

On-time repayments

290 weekly installments  •  89%

About Me

I am a business lady living in Nairobi City, specifically at satellite which is about 40 KM from the Nairobi, the capital city. I am employed in one the government public colleges in which the terms of employment is permanent. I am grateful for giving me a chance at Zidisha. For a long time I had a hard time getting quality handbags. I also realized many of my friends and colleagues had the same challenge. One time an old friend sold a good quality handbag and many of my friends and colleagues admired it and asked where they could get a similar one. I talked to the person who had sold it to me and she supplied to me and I sold the handbags to the ladies who had made orders and I made some profit from that. I conceived a business idea. Using some savings worth 103 US I hired a room at the shopping centre about 100 metres from my workplace at 33USD and registered the business with 28USD. I stocked my small shop with various types, shapes, designs, brands and colours of handbags and wallets. A friend who was had done a certificate in sales and marketing is currently running the business. Since the business started, our products on ‘WhatsApp’ application through mobile phone to existing and prospective customers using contacts that we collect from the friends, relatives and colleagues.

My Business

The business name is ‘GLAMUT HANDBAGS CENTRE’ and our motto is ‘QUALITY IS OUR MISSION’. We plan to expand our business through introduction of new stock items like more types, shapes, designs, brands and colours of handbags and wallets. The monthly net profit of the business has increased from about79 USD to 87 USD after paying USD30 rent, 7USD electricity bill and 15USD transport after getting the previous Zidisha loan. With part of the net profit the business is able to pay the loan and use the rest of the money to expand the business. The business has been in operation since November 2013 and the business is doing well making good progress in terms of profits. The Zidisha funding has assisted in the expansion of the business. The business has expanded by increasing the introduction of more variety of bags and also purses. Our clients have benefited from having a wider variety of bags to choose from, ranging from different brands, colours and sizes of bags.
GLAMUT HANDBAG CENTRE is geared towards complimenting the presentable dressing with good accessories which include the hand bags and wallets that they have.

Loan Proposal

We wish to expand the amount of stock by bringing the stock in larger quantities for our clients. We plan to achieve this by getting the handbags from a supplier who sources her handbags from Kampala Uganda and has promised to supply the bags at a discounted price if we buy larger quantities of the bags.
We also plan to expand stock available by increasing the introduction of more variety of bags and also purses. We also plan to provide to our clients with a wider variety of bags to choose from, ranging from different brands, colours and sizes of bags. This will be of great satisfaction to the clients who have given positive feedback and have also referred new clients to us but keep requesting for a wider variety of our products.

This will help our business will take care of many ladies by providing them with quality handbags, wallets and other accessories which is our main objective.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$280.51

Date disbursed

Dec 11, 2014

Repayment status

On Time

Projected term

64 months

Cost to entrepreneur

Lender interest: $280.51 at 10.26% annual rate over 64 months = $154.10

Service fee: $75.10

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