Expansion of motor cycle spare shop
Naphtali
Kisumu, Kenya
$0 to go
100% funded of $17 goal
0
days left
Entrepreneur
Name
Naphtali
Member since
November 2018
On-time repayments
8 installments • 50%
About Me
Hello Esteemed investors,
I am Naphtali Wangia, Born and bred in Western Kenya. I have a Bsc. degree in mechanical engineering. I was raised in a more entrepreneurial family hence the passion for business. I have been in the job market for about 4 years and now am looking to venture in business, this is what my life can depend on, this is where I can work optimally and promise to give my all. It is taking sometime to raise the amount needed but I think it is worth it. Thank you to Zidisha and all the past investors who have ensured that my journey is smooth.
Regards, Naphtali Wangia
My Business
Hello Esteemed investors,
I plan to expand my Bicycle spare shop so as to accommodate motorcycle spares as well. Currently the shop is largely supported by our mechanic that we have hired to repair broken bikes. So, the idea is to introduce motorcycle parts plus a mechanic for the same. I am planning on buying spares that are auctioned at the port because they are far much cheaper, this will cost about $800. It could be more, but this is okay for the start. I also purchase specific tools for the mechanic at the cost of $200, Licensing the shop would cost $100. I will also want to purchase 4 chairs and a shade at the front of the shop at a cost of $150. In total am looking for about $1500 for the project. Thank you in advance.
Regards, Naphtali Wangia
Loan Proposal
Revenues from the motorcycle taxi sub-sector is estimated to have reached $2.19B last year alone, the Motorbike Assemblers Association of Kenya (MAAK)reported.
MAAK estimates at least 600,000 commercial motorbikes in the country each making an average of $10 a day. Compared, a 14-seater van taxi making profit of about $35 per day.
Last year alone the motorbike operators raked in more money than some of the giant telecommunications companies in the country, which posted $2.13B million in the 2016/2017 fisical year.
Data released by the association on Monday shows that the boda boda operators make about $6 million daily moving goods and peaople over short distances while charging as low as $.5
Areas with poor roads, motorcycles taxis are considered the most viable option while in the capitals highways, common users are those seeking to escape traffic.
The operators have varied incomes depending on how smart they get on the job with most working late in the night to make a better prices from the odd the demand that in more times goes with more pay. Disturbing statistics on accidents that motorcycle operators are involved have made authorities watchful on the industry that is characterised by violation of traffic regulations and safety requirements.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$17.00
Date disbursed
Dec 11, 2018
Repayment status
Late
Projected term
4 weeks
Other loans
Lenders
Munich, Germany
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