Car branding

Kennedy

Nairobi, Kenya

89% 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 will use it to brand the cars so they can be easily identified. Its a good sales strategy. Also it helps in tracing location of a car by the identity as sometimes clients tend not to give exact location.