Purchase new electrical appliances for my store

Entrepreneur

About Me

My name is Benjamin Agha-Kuofie. I was born on the 6th of June in 1988 at Kumasi, which means I am 26years old and currently living in Berekum which is in the Brong-Ahafo Region (Ghana).Actually I come from Saltpond in the Central Region of Ghana. I am in a family of six which i am included. My family comprises of my mother, father and three siblings of which includes an elder brother and two younger sisters.
I started schooling at Airport International School in Kumasi, move to Sunyani and completed my junior high school at Miracle preparatory school. I continued my senior high school at Sunyani Senior High school, and finally continued at Takoradi Polytechnic where I offered my Higher National Diploma(HND) in Marketing.
I am currently doing my national service and has been posted at Berekum as a teacher at St Augustine’s junior high school. Am also engage in selling electrical appliance. As a marketing student, I decided to set up a small business with the knowledge and skills I acquired at the tertiary level and came out with selling electrical appliances when I completed tertiary education, all because my father was not feeling well and cannot raise any money to continue my younger sisters education. I setup this business through my research I conducted and I found out that there is only one electrical appliance store at the area and it was not effective. Also the owner was not selling enough electrical appliance. I started my own business in the year 2012 with a capital of about 800 dollars. I have employed two people who are working with me as a sales personal and an electrician. The sales personal is yet to continue his education at the tertiary level.

My Business

HISTORY OF THE BUSINESS
The name of my shop is BAK electrical enterprise. The business was established on 15th October, 2012 where I began with an amount of 750 dollars. The business (BAK electrical enterprise) is located at
Zongo one way near the Zongo clinic.Some of the items am selling are bulbs, sockets, extension plugs, cables, television antenna, universal remote and many more just to mention a few.
As a graduate in Higher National Diploma in Marketing (HND), I decided to setup some business with the knowledge and skills I acquired at the tertiary level. I conducted a marketing research and came out with a problem facing the community. I found out that there was only one electrical appliance store at the area or community and was not effective. Also they were not selling enough electrical appliance and the shop was not opened all the time because the owner has not employed anyone to assist him when he is not around. Due to this, the people at the community finds it difficult to get access to electrical appliance such as bulbs, video cords, cables for networking and connecting it to their Dstv, multi or televisions. Also, they do not have any electrician in the community to help or solve their electrical problems when they have any electrical fault or problems.
After the establishment of the business, the people in the community have easy access to electrical appliance and their problems are solved quickly.
As a result of this, it has help them to reduce their cost of transportation to town to buy electrical appliance and also get an electrician when they have any electrical problem.
I have employed three people who assist or help me in the business if am around or not, a young lady as a sales personal and two qualified young electrician to help the community in solving their electrical problems.
In conclusion, I want to expand the business and also extend it by opening new branches. This will also help to reduce the rate of unemployment in the community. I have estimated about 3000 dollars for expanding my business.
REPAYMENT
I will be able to repay any loan offer to me from the sales of the items i sell and the services provided to the community.

Loan Proposal

I will use the requested amount to purchase new electrical appliances and add them to the old once at the store. this will help me to provide quality service to the community and engage new members who are willing to learn to become electricians.
This will also help me to get much profit to help my younger siblings to continue their education.
A coil of 1.5,2.5,4mm,6mm,10mm costs 10 dollars,12 dollars,20 dollars and 39 dollars respectively. i will purchase them to make my store more attractive.

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