Buying mobile phones to sell in my business

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

With my loan of 222$, I plan to purchase mobile phones to my business as inventory. I plan to purchase 6 mobile phones ranging from 20$-50$ each. I plan to sell each mobile phone with a profit of 10$ which will give me a totall of 60$ after i sell all the phones. This will greatly improve my business to next level and help to service back my loan. There is a high demand of mobile phones in this area because main town is far from many residents and they prefer therefore to buy locally. With this i project that my business will be stable.

Feedback

Loan Info

Lenders