Purchase new hair dryer for my salon

Entrepreneur

About Me

I was born inn a dusty village in central Kenya. My mother was a teacher and my father a farmer. Being born in a religious family i grew up in a christian background. I attended a local school for my primary education and later joined one of the national schools for high school. however halfway through my secondary education I lost one parent and had to drop off to a local school because of lack of school fees.
After school i joined a beauty college where i learnt a beauty course and later got a job in a salon in Nairobi. I immediately had an impact since most customers wanted me to work on their hair and this made my employer jealous. I was fired but managed to get another job.
However with the little savings i got i managed to buy a few equipment and opened my new place. I had my loyal customers and with time the number has grown and am looking forward to expand to a bigger place.

My Business

I am in the industry of fashion and design but on the side of hair dressing. In this industry the main service we offer is designing people,s hair for new looks. The main customers we get here are ladies who like to have new designs now and then.
I choose this kind of business since i always loved how people look and am usually grateful when i make other people look good. i also like maintaining a good look for myself.
The typical cost involved in this business is electricity water soaps and chemicals all which are used for beautification purposes.
The main revenue from the business is the money one receives for the services rendered in hair dressing.
The profits gained from this business is mainly used to finance buying of new equipment as well as chemicals and financing cost as well as for personal matters.
I also have employed one person and is in the process of employing more people in the process since business is growing.

Loan Proposal

The loan that i get will be used to finance buying of a new hair drier for my salon. The drier costs around $100. The drier is essential for the beatification of my customers and essential part of my salons to make it accommodate more customers demands and specifications.
This drier will enable me make more money since for every customer who uses the drier there is extra revenue gained. i expect to be making an extra $50 every month from the drier and this will make my business grow.
The drier is one of the most important equipment in a modern salon which is mainly used after dressing of the hair to make it maintain the shape. Having one in my salon will greately benefit my business as I will be looking to get more customers thus getting more revenue in the process.
The profit gained in the business will be used to refinance the loan as well as meet business costs and savings as well.

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