Expanding my photocopy shop

Emmanuel Koech

Eldoret, Kenya

7% repaid

Entrepreneur

Name

Emmanuel Koech

Member since

March 2016

On-time repayments

54 installments  •  46%

About Me

I am a 1st born in a family of 3, born in 1994 to a financially humbled background at koitoror village outskirts of Eldoret town in Uasin Gishu County. I attended Koitoror primary school and later joined Paul Boit Boys kapkong for my secondary school education where i passed very well and proceeded to university where i did bachelor’s degree in Actuarial Science.
During my period in secondary school I use to sell biscuits and sweets to my fellow students so i could earn pocket money for my upkeep in school. Later as i joined campus i applied for government student's loan where I used some part for my school fees and the rest to start my current business. As soon as I received part of the loan, I purchased a printer worth $50 basing on the current exchange rate. The business picked very well. Since the business is located around the university, printing and photocopy business is at boom. The culture of the students is very good and therefore it is a lucrative venture. I like reading, watching football and playing lawn tennis. I am good in making friends and having conversation on all aspects of life.

My Business

I have one printer and a desktop computer which are operational. I offer printing services at a cost of $0.03 per page and photocopy services at a cost of $0.02 per page. I also offer typesetting services at $0.1 per page. At an average, my daily printing and typesetting revenue is approximately $10 and those from photocopying are approximately $4. In general, my weekly revenue is $98. I chose this kind of business because the environment suits it. Students do print notes as well as photocopy so the demand is high. I incur maintenance cost of $30 per month but not that frequently, business rent of $50 per month and buying stationeries at $35 per week. Keeping in mind these low expenses incurred, this translates to higher revenue which I use to pay for my school fees and reinvest into business.

Loan Proposal

Since my current job is doing great. The number of customers I receive is promising. The problem is that, they request cyber service and I currently don't have. This has motivated me to bring the service to them. I will use $490 dollars to buy 4 desktop computers to start my mini-cyber. I am very positive that it will give me more revenue. By at least 30%.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$502.01

Date disbursed

Jul 9, 2016

Repayment status

Late

Projected term

61 months

Cost to entrepreneur

Service fee: $20.68

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