Buy a sack of sugar to retail

Benson

Nyeri, Kenya

56% repaid

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How it Works

Entrepreneur

Name

Benson

Member since

February 2015

On-time repayments

52 installments • 27%

About Me

My name is Benson Wachira, I was born in Nyeri county in an area called Mweiga. This is an area where agriculture is the mainstream activity and we are also sorounded by big ranches where cattle and wild animals are kept.

My parents like most people in the area are farmers but they also engage in casual jobs in the ranches so as to supplement their income. It is with this income that they managed to put me to school first eight years of primary school then four years of secondary school and finally to a teachers training college where I did a two year diploma course.

I am glad I got a job immediately after graduating and with the savings that I got, I started a small grocery store where I sell house hold items.

My Business

I run a grocery store as a side business. I normally get my stock from the suppliers and then retail them from my outlet. The items I sell are like soap, cooking oil, maize and wheat flour, bread etc. My store is surrounded by many homesteads and these people make most of my clientele.

The turnover per day is about $100 of which my profit is about 10%. I use this profit to pay my assistant who runs the shop while I am doing my salaried job. I also use the money to expand my business since it requires new stock every now and then.

Loan Proposal

If given this loan, I will buy a 90 kilogram bag of sugar at $75. Sugar is always in high demand since every homestead uses it to sweeten their beverages and in their cooking. My mark up profit for this is 15% and I will be able to sell this consignment within one week.

This will ensure constant supply of the product because at the moment, due to lack of enough cash, I buy sugar in small quantities of 20 kilograms which is more expensive and I also have to make frequent trips to the supplier to replenish my stock.