Buying rice,sugar and cooking fat for the shop
Emmanuel
Eldoret, Kenya
$216 to go
0% funded of $216 goal
0
days left
Entrepreneur
Name
Emmanuel
Member since
April 2016
On-time repayments
126 installments • 48%
About Me
Hi my name is Emmanuel, born and raised in kenya in a town called eldoret . I learned to read and write at the age of five when my parents enrolled me my first grade, later I joined high school for my 0 levels where I completed basic education .my life was fun during my childhood days as I enjoyed to play and look after animals in the village. Though I had various challenge like lack of school uniforms and fees, my mum struggled to take us to school.in my later life after completion of basic level of education money was not enough to sustain my enrolment to college, so I had to look for other means of surviving. I started working for a friend who had a business in eldoret town. This is where I learned about business skills and how to interact with people. I worked there for a while before moving on to opening my business with the capital that I had saved from the earlier job. Challenges came after opening the business because I was also relying on the business for my survival .I struggled with it at the earlier stages of introduction since I revolved with small amount of capital of less than 200 dollars only. Also licencing posted a challenge due to the terms stipulated and it’s pricing. With the help from friends I managed to overcome this challenges and at present I have grown from where I stared and managed to improve my business am also paying school fees for my seedlings who are in high school. With the loan which am applying I want to boost my inventory level to go higher so that I can attract more customers and make them satisfied. Our partnership in helping each other makes us shine.
My Business
my business is a retail one stop shop where i sell basic commodities such as sugar,cooking fat,detergents,rice,and also edible foodstuffs such as bread ,milk,cakes,eggs i.e products which are mainly a must for life.i sell this kind of products because they are necessary to our lives and also i offer alternative solution other than going to the market which is an advantage to customers in terms of accessibility.my preference to doing this kind of business is mainly because the market demand is always there despite the situation that customers are facing hence sales will always be recorded on a daily basis bringing up maximum profits to the business, also it is a business that you can interact with different people easily which can be a plus for future business endeavors .readily availability of handling money is also an advantage since you have sales every now and then.the typical cost for running the business is usually low since because the only thing you require is a business permit and your stock it will cost around 50 dollars per month for the recurring cost while the revenue per month may be around 200 -400 dollars in total sales.if you remove the recurring cost the profit will be around 50% of the total sales.50% of my profits i usually re invest it into the business while the rest i use to pay school fees for my siblings and also for personal expenses.
Loan Proposal
Hello lenders?with loan obtained from you,i intend to buy two 50kg bag of sugar,rice and also 2 cartons of cooking fat for my retail shop.the market price of the following items stated are as follows.a 50kg bag of sugar retails at 45 dollars in wholesales ,hence for the two the cost will be 90 dollars.for rice,a 50kg clean pakistani rice retails for 40 dollars this will bring a total price of 80 dollars.cooking fat will also be added up in the budget.one carton goes for15 dollars hence for the two it will bring up a cost of 30 dollars.the total expenditure for the whole purchase will be 200 dollars.i will then use the remaining funds as transport for the goods to the store.the impact that this kind of stock will bring is that i will attract more customers to my business bringing up more profits.also i would have saved my customers time of going to the market which is usually a bit far bringing up an added cost of transport.i would have also created employment opportunity to the person who would offer transport and also someone that would help me with the packaging of the commodities into smaller portions inorder to take care of each customer.my profits after the end of will be around 60 dollars this translates to around 40% in profits which will be used up to repay the loan.the initial capital will be used to purchase up another inventory which will result in profits that will always be servicing the loan.i would appreciate so much if your fund my loan.thanks
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Loan Info
Project Type
Classic Loan
Amount requested
$216.00
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