Entrepreneur

About Me

My name is Karen Gakii, from Africa,Kenya.I am the second born in a family of four children mother and father. I have two sisters and one brother. My parents are both small business people and farmers. I am an administrator by profession.I started a business 2 years ago after being retrenched from my job. My business was not easy to start because i did not much money to spend as capital. I decided to start in a small way by hawking my products. I specialise in selling ladies and mens under wear, young childrens underwear, bras, ties, boxers, socks for men and ties. After selling my products i save the profit i make on a monthly basis. I use the money to pay for my college education to improve myself. In future i plan to buy a piece of land to build a premises where i will be operating from. I also plan to expand my business by introducing more products.

My Business

I started my business five years ago. After i completed my college education, i got a job in a security firm where i worked for three years as a temporary employee.I was able to save up some money to start up a business. After my contract lapsed i opened up my business with the little money i had saved up as capital. My business involves selling male and female under wear, under wear for children, bras for women, socks, ties and vests for men and hand bags for women. When i started i did not have a particular premises to operate from. I began by hawking my products from office to office, i would sell to men and women working in offices, i would also visit schools where i sold to teachers and students.Later, i did some marketting where i looked for orders from supermarkets and clothing store. I also have a small outlet on the street where i pay for space to display my products. I have since built a huge client base. Alot of people prefer my products because, i sell quality products at an affordable price. Every class of people can afford to buy and they also keep coming back because the products are unique and they serve them well. I usually import my products from neighbouring countries therefore they are always unique. I buy in bulk at low whole sale prices and dispose off at a profit therefore my business is quiet profitable. I also have enough time to sell my products from different avenues since i do not have a particular place to sell from. After i supply to the supermarkets and clothing stores i usually wait for 2 weeks to get paid. In the meantime i still sell from other place therefor this makes it even more profitable. I face challenges and risks due to the fact that i do not have a particular warehouse where i store my goods at night. Usually i pay a certain store owner who stores my goods for me. The risk involved is that sometimes i loose items hence incurring losses.Other times, the city council askaris over charge me for the space i use to display the product, that too affects my business. Therefore in future i am planning to secure a permanent premises where i will expand the business by introducing more items.
My business plan is as below:

MONTHLY TYPICAL SALE

Daily sales:
Daily sales - 5,000
Working days -26
5,000x26
Monthly sales -130,000

Expenditure:
Daily expenses - 1,000
1,000 x 26
Monthly expenses - 26,000

Monthly profit:
Daily profit 5000-1000=4000
Monthly profit - 4000 x 26
Monthly Profit - 104,000

Loan Proposal

First and foremost i take the opportunity to thank you Zidisha for giving me this platform to borrow finances to expand my business.
While the money may be much less than i had expected, i will utilize it in the best way possible to be able to win your confidence as i plan to borrow a bigger loan in future.

My business involves supplying clothing items to supermarkets and clothing stores. I also run a small outlet on the streets of Nakuru town. I plan to increase my business in terms of stocks and introduction of new items like accessories for both and women. I will do utilise the funds as i have indicated below;-

LADIES UNDER WEAR

BUYING:
3 dozens@1800/- per dozen
1800x3 = 5400

SELLING:
300/- per piece
300x12 = 3600
3600x3 dozens =10800

PROFIT:
10800-5400= 5400


ACCESSORIES:

BUYING:
20 pieces @80/= per piece
20 x 80 = 1600

SELLING;
200 per piece
20 x 250 = 5000

PROFIT
500 -1600 = 3400

TOTAL PROFIT
5400 + 3400 = 8800

STOCKS - 7000
LOAN REPAYMENT - 800
SAVINGS - 1000
TOTAL - 8800/-

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