Expansion of mitumba business

Entrepreneur

About Me

I was born in a family of 8 siblings in Uasin Gishu County, my parents were peasant farmers and dependent on agri produce. Life became more difficult when my father passed on immediately after doing grade 8. My mother struggled to pay our fees by selling agri produce and selling sheep and goat from our homestead.

When growing up i dreamt of becoming a manager, my mother managed to take me to polytechnic in Eldoret and graduated with diploma in secretarial. I got a job in small mpesa shop, my roles entailed phocopying documents for customers at a fee copy typing and mpesa assistant .I engaged in small business of cooking snacks and selling them to colleaques with the savings i managed to do my degree in business management.I got a better job at the same time engaging in small time business selling second hand cloths.
I have three children two girls and boy, My first born is currently in high school and iam currently pursing masters in Business Administration.by doing the business as side hustle am able to provide for my children and go to school mayself
I saved my proceeds to start the selling of second hand business which is proving worthwhile since i have regular customers that i sell to

My Business

My business involves selling of second hand clothing famously know as mutumba. Having been mentored by a friend i have developed several customers in my neirbourhood and my office colliques

The main reason as to why I started this business is owing to my previous engagement in the clothing industry and having identified the growing need for the clothes in the area because the cloths are cheap and You get good quality unique cloths at affordable price.
The whole business is currently worth KSHS 25,000 (Approximately USD250), This include the stall and the current stock. With this amount I am able to make a profit of at least KSHS 15,000 per month(USD150).

I intend to expand the capital base to at least KSHS 30,000(USD 300) with which I trust and am confident enough that the revenue will increase to KSHS 22,500 (USD 225). It is with notion that I wish to advance a loan from zidisha online lending and enable me expand this business and be able to meet the market demand which is increasing every day in this area.

I intend to use the revenue from the business to reinvest it in my business

Loan Proposal

I hope to expand my business to open a stall where I can stock with as much clothes as I can.

I am going to use this loan to buy one bale of clothes at kshs.24000/ (USD 240) which is better quality and have better return profits. This will increase my sales and my profit margins. I hope to rent a bigger stall and stock up with more clothes. This loan will help my business grow and expand.

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