Funds to increase cosmetic products in my salon
Hilda H
Eldoret, Kenya
8% repaid
Entrepreneur
Name
Hilda H
Member since
October 2016
On-time repayments
205 installments • 38%
About Me
I hold a Diploma in Fashion and Design.I had to create my own employment since it became hectic landing a job after my graduation.I decided to some market analysis is my nearest home town with the aim of trying to identify the most feasible business opportunity.Luckily the business opportunity that was viable was the one that was in line with my certification.
I then acquired a little capital and started a salon offering beauty services specifically, hair make-ups,pedicure and manicure.My culture; Keiyo is the best culture i can say.The people treats each and every individual equally without any discrimination.My children(two daughters) desire to both be teachers and to always support their mother whom is their role model in return to the unending support i have been giving them.This has been made possible by the current business that i operate.
My hobby is interacting with people and making new friends
My Business
I started my business in the year 2006 just after my college studies.I am currently running a salon and a cosmetics offering all type of beauty services named as "Amazing Salon" and also selling of cosmetics productsI chose this particular type of business after my market analysis and the realization that few people had ventured into it.More so the salons that existed at that time were of low standards and weren't operating according to the wishes of the customers.
I was glad that my salon quickly picked up and customers preferred my salon to those that existed at those time.My initial profits at averaged Ksh 12,000 for the first three months and later improved upto Ksh. 42500 (till now).
My current operational costs include the following (monthly)
Electricity bills Ksh. 3000
Wages and salaries Ksh. 12000
House rent Ksh. 8000
Water bill Ksh. 2500
Provisions Ksh. 3000
I am currently using the profits generated from my business for paying my children's fees and reinvesting the remaining amounts back into the business.
Loan Proposal
With this loan,I plan to add cosmetic stock in my salon especially the weaves. I will add weaves worth 500 dollars, braids worth 300 dollars and pedicure/manicure products worth 150 dollars.
This will really boost my profits by upto 40%. And also will enable my customers have plenty of products at their comfort.
Feedback
Positive
None
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$997.00
Date disbursed
Nov 1, 2017
Repayment status
Late
Projected term
37 months
Other loans
Lenders
Fontvielle, Monaco, Yemen
United States
Hong Kong
United States
Jake Gibson and Beverly Picardo
San Francisco, United States
United States
Ask Hilda H a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.