Buying and selling of mobile phone handsets
James
Kitengela, Kenya
100% repaid
Entrepreneur
Name
James
Member since
June 2014
On-time repayments
329 installments • 96%
About Me
I am a 47 years old married man with four children; three sons and one daughter.
I work as a minister of the gospel, and am paid a monthly salary, which helps for my upkeep and supporting my family.
Lately, I have found myself straining a little as my children progress to higher levels of education, two of them currently in Secondary School, while the third-born is in a private boarding school. I have therefore had to look for a side job to make ends meet.
My Business
I have been trading in mobile phones in a small way from retailers well known to me, selling a piece at a time and earning a commission.
Having realized my selling skill, I wish to buy a few handsets from him at wholesale price, so that I can sell at retail and earn from the markup as this will be significantly higher than the commission.
I have been selling approx. five handsets a week, earning a commission of approx. $10 per piece, which totals to $50 per week. When I buy the handsets and sell them as my own stock, I will be able to make $20 per piece, which would double my earnings.
My startup costs will be significantly low, as my friend/supplier is willing to store the handsets for me as I do office-to-office deliveries against orders made online/by phone. - I have been using www.olx.co.ke to advertise the phones I sell, a website greatly used in Kenya for person-to-person selling, removing the need for a physical premises.
However, after I have grown sufficient capital, I hope to do car-boot phone sells, from my small car, parking at strategic areas around market centres, and in the long run also have a central distribution shop in the town centre.
Hopefully, this will in the long run help me to cross over to become a Zidisha lender to also also help others who, in future, will wish to start how I have started.
Loan Proposal
I have been trading in mobile phones in a small way from retailers well known to me, selling a piece at a time and earning a commission.
Having realized my selling skill, I wish to buy a few handsets from him at wholesale price, so that I can sell at retail and earn from the markup as this will be significantly higher than the commission.
I have been selling approx. five handsets a week, earning a commission of approx. $10 per piece, which totals to $50 per week. When I buy the handsets and sell them as my own stock, I will be able to make $20 per piece, which would double my earnings.
My startup costs will be significantly low, as my friend/supplier is willing to store the handsets for me as I do office-to-office deliveries against orders made online/by phone. - I have been using www.olx.co.ke to advertise the phones I sell, a website greatly used in Kenya for person-to-person selling, removing the need for a physical premises.
However, after I have grown sufficient capital, I hope to do car-boot phone sells, from my small car, parking at strategic areas around market centres, and in the long run also have a central distribution shop in the town centre.
Hopefully, this will in the long run help me to cross over to become a Zidisha lender to also also help others who, in future, will wish to start how I have started.
About Me
I am a 47 years old married man with four children; three sons and one daughter.
I work as a minister of the gospel, and am paid a monthly salary, which helps for my upkeep and supporting my family.
Lately, I have found myself straining a little as my children progress to higher levels of education, two of them currently in Secondary School, while the third-born is in a private boarding school. I have therefore had to look for a side hassle to make ends meet.
My Business
I have been trading in mobile phones in a small way from retailers well known to me, selling a piece at a time and earning a commission.
Having realized my selling skill, I wish to buy a few handsets from him at wholesale price, so that I can sell at retail and earn from the markup as this will be significantly higher than the commission.
I have been selling approx. five handsets a week, earning a commission of approx. $10 per piece, which totals to $50 per week. When I buy the handsets and sell them as my own stock, I will be able to make $20 per piece, which would double my earnings.
My startup costs will be significantly low, as my friend/supplier is willing to store the handsets for me as I do office-to-office deliveries against orders made online/by phone. - I have been using www.olx.co.ke to advertise the phones I sell, a website greatly used in Kenya for person-to-person selling, removing the need for a physical premises.
However, after I have grown sufficient capital, I hope to do car-boot phone sells, from my small car, parking at strategic areas around market centres, and in the long run also have a central distribution shop in the town centre.
Hopefully, this will in the long run help me to cross over to become a Zidisha lender to also also help others who, in future, will wish to start how I have started.
Loan Proposal
I have been trading in mobile phones in a small way from retailers well known to me, selling a piece at a time and earning a commission.
Having realized my selling skill, I wish to buy a few handsets from him at wholesale price, so that I can sell at retail and earn from the markup as this will be significantly higher than the commission.
I have been selling approx. five handsets a week, earning a commission of approx. $10 per piece, which totals to $50 per week. When I buy the handsets and sell them as my own stock, I will be able to make $20 per piece, which would double my earnings.
My startup costs will be significantly low, as my friend/supplier is willing to store the handsets for me as I do office-to-office deliveries against orders made online/by phone. - I have been using www.olx.co.ke to advertise the phones I sell, a website greatly used in Kenya for person-to-person selling, removing the need for a physical premises.
However, after I have grown sufficient capital, I hope to do car-boot phone sells, from my small car, parking at strategic areas around market centres, and in the long run also have a central distribution shop in the town centre.
Hopefully, this will in the long run help me to cross over to become a Zidisha lender to also also help others who, in future, will wish to start how I have started.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$150.00
Date disbursed
Aug 6, 2014
Repayment status
On Time
Projected term
2 months
Other loans
Lenders
Shanghai, China
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Summary
Amount repaid
$156.36
Amount remaining
$0.00
Date repaid
Nov 4, 2014
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Aug 19, 2014 | $11.23 | Aug 19, 2014 | $11.23 |
| Aug 26, 2014 | $11.23 | Aug 19, 2014 | $0.05 |
| Aug 31, 2014 | $11.19 | ||
| Sep 2, 2014 | $11.23 | Aug 31, 2014 | $0.09 |
| Sep 7, 2014 | $11.14 | ||
| Sep 9, 2014 | $11.23 | Sep 14, 2014 | $11.23 |
| Sep 16, 2014 | $11.23 | Sep 14, 2014 | $0.05 |
| Sep 21, 2014 | $11.19 | ||
| Sep 23, 2014 | $11.23 | Sep 21, 2014 | $0.09 |
| Sep 28, 2014 | $11.14 | ||
| Sep 30, 2014 | $11.23 | Sep 28, 2014 | $11.23 |
| Oct 7, 2014 | $0.29 | Sep 28, 2014 | $0.29 |
| Oct 14, 2014 | $19.77 | Sep 28, 2014 | $0.01 |
| Oct 15, 2014 | $19.76 | ||
| Oct 21, 2014 | $19.77 | Oct 15, 2014 | $0.01 |
| Oct 26, 2014 | $19.76 | ||
| Oct 28, 2014 | $19.77 | Oct 26, 2014 | $0.01 |
| Nov 2, 2014 | $19.76 | ||
| Nov 4, 2014 | $18.14 | Nov 2, 2014 | $0.01 |
| Nov 4, 2014 | $18.13 | ||
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