Buying new tires and spares

Kennedy

Nairobi, Kenya

99% repaid

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How it Works

Entrepreneur

Name

Kennedy

Member since

June 2014

On-time repayments

76 installments • 43%

About Me

I am a Kenyan aged 34 and a farther of two. I started doing business in 2010 with a vision of making profits and generating more. Currently I own a social club and am a managing partner in a medium enterprise company. I have seven people working for me in my businesses. I have now ventured in a car hire business that is I have realised has good returns. During my free time I usually spend time doing my research and reaching out to potential business associates. I believe in dividing my profits in three. One for my upkeep, two for savings, three goes back to the business. I believe that in the next two years I will have grown my fleet to more than four cars

My Business

I intend to make my business the business of choice. I want to use the finance to upgrade my services in terms of advertising and marketing to make my business a brand to recon. My average monthly income translates to around USD 800. With other overheads like vehicle service and maintenance, at a cost of about USD 70 per month, wear and tear at a cost of USD 20 per month, insurance cover at a cost of USD 15 per month, other unseen overheads like car wash, body works and minor accidents at a cost of USD 60 per month. With a balance of USD 635 per month I believe it a good profit per car. In future am looking to adding several cars to boost the profit. This is a good business because on a daily basis I recieve bookings for the business that I charge on daily basis and payment being recieved upfront. With this daily charges USD 27 per day, I can comfortably repay my loan. My business has low risks as the vehicle is fitted with real time tracking system and people prefer my services because I have fitted a complete sound system and with a display screen to watch videos.

Loan Proposal

I intend to buy new tires and Spares for my cars. With the holidays here, there is need for having the cars in top most condition as there are more clients who need to hire cars more oftenly. I have been unable to reach my benchmark due to worn out tires as sometimes its risky for the client.