Buy printer for my mug branding business

Entrepreneur

About Me

I developed interest in computing since high school. I remember struggling to maintain the best marks in order to be selected as one of the students who were to proceed with computer classes to the final exam (KCSE). Unluckily I was not selected despite being the best in all the exams. I found out that it was a deliberate move by the subject teacher since he had personal issues with me that I have never known to date. I was very passionate about computing; I never lost hope and believed I would make it in life. I used to sneak into the lab when he wasn't around, do some designing and programming. At times I used to get caught and face the music, but I had the passion, a strong passion that wouldn't make me give up.

All in all, now am a Software Developer, graduate from Nairobi University with a Degree in Computer Science. My programming interests secured me a job after I developed an Information System for Maranatha Church Headquarters (stores information of all leaders in all the Maranatha churches in Kenya). So far I have developed other softwares; Payroll system, School fees Management system, College Exam Processing System (for the 3 colleges within the headquarters). In Migori County, there are lots of potentials in business since most of them have not been exploited to the fullest. With the skills that I possess, I know I can make my life better. I thank God for keeping me through the part that I'm very passionate about.

My Business

BRIEF BUSINESS OVERVIEW

My wife and I have been having a hard time finding beautiful, quality and affordable materials in terms of beddings, mosquito nets, curtains, clothes, footwears etc. The ones we found were being sold very expensively. Moving from one shop to another, we realised that all the shops were selling the same type of products that we didn't find attractive and affordable. Furthermore, those items were being sold cheaply outside the County borders yet we were being sold at prices almost five times the purchase price. This finding gave us the idea of running one of the best Boutique that would provide residents with attractive and quality products, yet affordable. Though a Boutique requires lots of inputs, we decided to start one step at a time; purchasing bed sheets.

We started the bed sheet business last week (Wed 4th Mar 2015) by purchasing 7 bed sheets at Kshs. 800/= {$8.7} and pricing them at Kshs. 1,200/= {$13} each. Each bed sheet contains two pillow cases, a case which made our clients respond very positively. By Sat 7th Mar 2015, we had sold all the bed sheets we had in stock, making a profit of Kshs. 2,000/= {$21.8}.The demand for more has now risen beyond the quantity we would manage to purchase with the available funds. We would have liked to post photos of our first stock but unfortunately the sales were too fast for us to remember taking photos, so we only took ones already purchased and spread on beds by our clients. But as for the next stock we would gladly post them for our dear lenders for them to see how much of a blessing they would have been to our business.

The reason for applying this loan of Kshs. 25,856 {$282.2}, is to seek extra funding so that we may purchase more bed sheets to meet the current demand, and also to realise higher profits as compared to purchasing fewer products. Later on, we can also add other varieties like duvet covers, mosquito nets, night attires etc, to have complete bedding sets as many of our clients have requested.

Our dear lenders, this is the second loan application, the increase in profits will enable us expand our business. We project a profit margin of Kshs. 1,000 - 2,000 {$10.9 - $21.8} weekly. With the profits realized from the sales that would be made, we would effectively repay the loan, though at a slightly longer repayment period for the business to be stable. However, we believe that it won't be the case since we would repay as much as we can to finish the loan and seek for more. We believe in Zidisha Family, especially having benefited from the first loan funded for our Mug business. I strive to build my trust in Zidisha in order to acquire even more than that amount for major investments. Kindly fund this venture and make our goals and dreams valid.

THANK YOU Zidisha Family!!

Loan Proposal

The loan am seeking I want to use it to buy a better printer of KES 30,000 (around USD 340) that can handle the task. Though the start-up loan of USD 150 isn't sufficient to buy the printer, I had already saved KES 20,000 (around USD 226). The requested loan will be used to purchase a better printer for the Mug branding business. The one I was using broke down and the cost of repairing it almost enough to buy a new one. The printer helps a lot in printing designs as per customer requests and branding the heated image to the mugs using a Mug Press Heater.

I have displayed the Mug Press Heater machine, broken printer, and some of the printed mugs on the profile photo that you can take a look at them. The last photo, near my passport photo, is my daughter's mug branded on the day of her 1st Birthday celebration. I brand mugs for memorable events (like birthdays, weddings, anniversaries, baby showers), company logos, sports, movies, celebrities, wildlife, and many more, be it corporate, home use or gifts.

So far I have branded over 150 mugs in the past 4 months and currently I have pending requests 6 dozens to be branded. But due to the status of the printer I can't have them branded and delivered in time. It's now over 6 weeks since I received the orders, thanks to God for the patience and trust that customers have for me. Getting a new one would really boost the business and customer relations by delivering orders in time.

Feedback

Loan Info

Lenders