Buying earphones, phone batteries and chargers for my shop

Entrepreneur

About Me

My name is Weldon, I was born in Nakuru County at a family of five. I was raised up and schooled in the same area where I attended Ewaat primary schooled and letter join Ewaat Secondary school. My life in school was not easy because i encounter a lot of difficulties in paying my school because my parents would not gathered for both food and education which force me to repeat some of the classes. This force me to drop school for a while and start a business to help me raise some money in order to continue with my schooling. I decided to start an electronic shop where I will be selling some of the spare parts of electronics like speakers, ICs, memory cards, battery and earphones. people in my area do not still embrace change, they still practice early marriages to their girls and boys still undergo traditional initiation. I would like to have a stable family, with son and daughters who are well schooled and who embrace change in my society.

My Business

My business is an Electronic shop located in Mauche center, selling some of the spare parts of electronics like speakers, ICs, memory cards, battery and earphones. This is because they are in high demand since the center is far apart from big towns like Nakuru which force people to buy electronics in my shop considering the distance and expenses. I choose this kind of business because I can also repair electronics appliances like Radio and TV which give me a good knowledge on the requirements of the customers. The cost of running this kind of business is not much because some time clients pay deposit in advance for an item he/she want and wait for re-order period until it arrive. The only big expense is rent which is 20$ per month and normal operational cost in the business which is approximate 30$ per month . I normally use the little profit I get in reinvesting in the business and some in daily basic need like clothing and food.

Loan Proposal

I will use my first loan of 20$ in buying my inventories like earphones, phone batteries and chargers for my shop. The cost of one earphone is 1$ and I intend to buy eight of them which cost a total of 8$. I will again buy 2 phone batteries which will cost 8$ in total. The remaining 4$ is for buying phone chargers which each cost 1$ and intend to buy four of them. This will generate some revenue for my business because i will sell one earphone at 1.5$ which will give me a total profit of 4$ in earphones. One phone battery will give me a profit of 1$ making a total of 2$ and another profit of 1$ from phone charger. This will increase my profit at around 40%.

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