Buy deep-fryers for my business

James Omuse

Nairobi, Kenya

4% repaid

Entrepreneur

Name

James Omuse

Member since

December 2016

On-time repayments

47 installments  •  26%

About Me

I come from an extended family of 19 kids with 3 mothers, my mother being the 3rd wife. My mum has 7 of us, i am the 6th born. I study at Kirinyaga University, taking bachelor of statistics, in 3rd year now.

When a challenge arises, it does not really bother me as much. I have learnt that whenever there is a difficulty, a greater victory awaits me somewhere, so i do not look at the discomfort, i look at ways to manage that situation. I have also learnt that for one to grow, they have to go through a series of challenges. I am not the same guy i was a year ago.

I needed to start up my rabbit farm back in 2007, i was only 11years old and in standard 6, so i thought why not borrow 50$ from my father. I started by selling cofee, tea and snacks to my schoolmates both morning and evening. My big sister could help me prepare my merchandise. In five months time, i had saved about 300$ since i never touched a penny from my profits.

The people of my land are well known for large scale sugar cane farming, including my old man and uncles.

I do not have any children as yet but i of course plan on having a couple of them. I would never at any point restrict my child from living their dreams. I hope to engage them in business undertakings as early as possible,thats if they'll be interested.

I pastime by visiting my colleagues who own different kind of businesses to discuss new business ideas, strategies and life in general.

My Business

My business entails retail food,it involves selling home made fresh juice, french fries, coffee,tea, sausages and bread to my fellow students and staff at the university.

Retail food is quite lucrative as there is not many canteens at the school as yet. Most students do not have time to cook, so sometimes demand is higher than supply.

I learnt about this business from my mum. She has had this restaurant back at home for over 10 years now, she has bought chunks of land from this very restaurant. So when i joined university, there was only one canteen inside the university, i saw this as an opportunity to start some retail food thing.

My typical costs on weekdays are about 250$ and 300$ on weekends.
revenue is about 50% -70% .

I save part of my profit just in case of a rainy day, buy myself personal effects and once in a while maybe clothes. I make sure i inject a bigger percentage back into the business for growth.

Loan Proposal

I want to buy adeep frying machine of like 400$ for my business.
I will as well purchase a refrigerator to store foodstuffs for about 500$.
This will increase profits for my business as it will expound on my margins. More people will come in thus more demand for my food.

I will also have one more employee come in, since I will need help. This will help him/her earn.
I expect my profits to increase by 40%

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$986.38

Date disbursed

Apr 20, 2017

Repayment status

Late

Projected term

115 months

Cost to entrepreneur

Service fee: $41.52

Lenders

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ShaneS

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MZ

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SK

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D

dabatate

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KL

Kevin Law

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Kevin

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George

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Jorgen V

Mol, Belgium

ME

Manaal Eisa

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CNV

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Caroline Cress

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Ben Bellows

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Rasmus

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D

Dario

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M

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A

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Mark Rowlatt

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