Entrepreneur
Name
Dennis
Member since
January 2015
On-time repayments
329 installments • 76%
About Me
I was born in Karingari, Nembure sub location, Embu District, now Embu county on 6th January 1991. I am the last born in a family of three boys. I went to Nembure Primary School in my locality and later joined Kangaru School. Due to lack of school fees I was transferred to St Christopher mixed day Secondary School. In 2010, after high school moved to Nairobi where I first worked as a messenger for a real estate management company. After one year I joined hands with my cousin and opened a movie shop in fedha Estate. After some months of poor performance my business partner gave up and wanted the shop to be sold. I agreed to refund him the money he had spent in monthly installments. After several months of struggle I had cleared his debt. The business had already peaked but the worse happened, due to expansion of Outer ring road in Nairobi we were issued with a vacation notice and I had to transfer my business
After that I secured another business room in November 2012 and set up my business, this time round I had made some expansion. I had phone accessories and electronic good like sub woofers. A month later, on December 12th my shop was robbed off everything. This literally paralyzed me. I worked as a free lancer for some months then in 2013 April I started an electronic shop in tassia where I run up to date.
In the year 2016 I set up another business but it was vandalized during the post election demonstrations. Am currently working on another shop in Nairobi Cbd where am dealing with phone spares. Hope all goes well. Thank you.
My Business
I run an electronic shop based in tassia. I sell Phone accessories, bulbs, bulb holders,head phones, USB cables among other products. I also deal with electricals such as wall sockets, wall switches and wires.
So far i have acquired loan five times. With the first three loans i have been able to add more stock to the shop. I purchased sub woofers and DVD players. This has really boosted my monthly income by more than 60%,all thinks to the zidisha team.
I also started dealing with cooking gas cylinders courtesy of the forth loan of kes 43500 with i used to buy complete gas cylinders with gas and also constructed a lockable metallic grill cage for security and display purposes of the cooking gas cylinders.
With my previous loan, which was the fifth one I was able to purchase television sets and some other minor things.
The business is now performing well but I believe with even more stock and variety of products it can perform even better beyond expectations.The market around is favorable for such a business but enough capital is a major hindrance to development
The main costs involved are the licenses and the rent, the others are minor e.g electricity bill. The profit raised is used to cater for my basic needs, take care of my parents, help the needy where I can and use the rest to add some stock
Loan Proposal
I would like to give my shop the facelift to an electronic shop rather than an accesorries shop. More so,With the current advancement in technology, entertainment and access to information has become more of a basic requirement than a luxury need. As a business person i have seen this as an opportunity to tap the market of entertainment units i.e subwoofers, dvd players and mini hifi systems.
For a begin, i intend to purchase four subwoofers and Dvd players. Quote below are the wholesale prices:
Ampex ax1035ms 2.1ch subwoofer @ $37
Ampex ax1048ms 2.1ch subwoofer @ $37
Ampex ax355ms 3.1 ch subwoofer @ $50
Aucma A618 2.1ch subwoofer @ $34
Aucma A616 2.1ch subwoofer @ $58
Hotpoint BT116 2.1ch subwoofer @ $68
Sony dvd player DVP SR 370 @ $32
Sony dvd player DVP SR 520 @ $35
LG dvd player DP 132 @ $25
Samsung dvd player DVD C350 @ $30
TOTAL $406
My budgets adds to $406 (Kshs 38570). Hopefully if am granted the $284 loan i applied i will add savings of $122 (Kshs 11570) from the sales made after the previous loan which was a great success.
I expect the people of my community to become more enlightened through the purchase of these unit as they will be able to access information more easily and conviniently at the comfort of their houses and businesses for the business people.
On the other hand i expect to benefit too, with projected 35% profit increase i will be able to cater for my expenditure and my dependants expenditure too with much less hustle.
Eagerly waiting to hear from lenders and i won't let you down.
May God bless you
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Loan Info
Project Type
Classic Loan
Disbursed amount
$284.00
Date disbursed
Jun 8, 2015
Repayment status
On Time
Projected term
3 months
Other loans
Lenders
United States
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