Buy an additional stock of mobile phone accessories

Entrepreneur

About Me

My name is Anthony Wanyoike. Anthony was born in Limuru near Nairobi city which is the capital of Kenya. Limuru is a very cold place (by our standards!) and it is famed for quality tea production. I was born in a family of 6 and I am the first born. My 3 siblings are still in school while the other ones are working.
I went to school, both primary and secondary and later enrolled for a shipping course.

Limuru like other areas of Central Kenya is densely populated and my parents advised me to move to Mombasa to look for greener pastures while creating room for others at home. I came to Mombasa with hope of getting a shipping job but I did not succeed. However, I was lucky enough to secure a job at a mobile phone shop where I started earning a salary. I then started my own business where I sell mobile phone accessories.

I am still single but hoping to settle with a wife soon.

My Business

I was employed at a mobile shop for two years where I was earning a small salary and working for long hours. While working there, I gained crucial knowledge which would later help me in running my own business.

I started by opening a stall near a busy market and a small stock of phone accessories. With support from the client base that I had build in my previous job, I was able to rise fast and I now sell a wide variety of accessories such as batteries, covers, memory cards etc.

In spite of my success, challenges still abound, key among them lack of capital to keep up with the demands of my customers. The field of mobile phones changes rapidly and needs a good source for funds to cope with the change. This is the reason I have joined Zidisha with the hope of getting quick and reliable credit.

Loan Proposal

My business is doing well but it could do better with more credit to enable me stock a wider variety of phone accessories. The craze of mobile phones especially among the youth is still with us and I want to cash in on this as much as possible.

If lent this money, I will use it as follows:

1. Buy 2 dozen batteries at a total cost of USD 100
2. Assorted earphones at a total cost of USD 40
3. Assorted phone covers at a total cost of USD 55

From my experience, these are fast moving items and I will be able to sell them very fast. That way I will increase my profitability while repaying this loan. Ultimately I want to venture into phone selling business which will give me better returns. Hopefully, I will be able to do so when I get my third loan at Zidisha.

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