Help me purchase a microwave for my tuk shop
Victor
Rongo, Kenya
3% repaid
Entrepreneur
Name
Victor
Member since
February 2014
On-time repayments
224 installments • 1%
About Me
Thank you Zidisha team for giving me this opportunity to introduce myself. I am a 24 years of age, a third year student at Rongo UniversityCollege pursuing an undergraduate degree in business management. I started a tuk shop that serves my fellow comrades who reside in the hostels. I started this business because I saw there was a gap since there was only one such shop that served both the male and female students. This Tuk shop has greatly reduced congestion and loss of the students precious time.
Since the inception of the business i have been able to re-invest most the profits earned to enable growth of the business. As a business management student I have been able keep clear records and also come up with a comprehensive business plan for expansion in the near future. With the help of the awesome Zidisha lenders I see this dream becoming a reality owing the stories told by other entrepreneurs that have benefited from this wonderful program.
My Business
In my Tuk shop i sell basic and essential commodities that include food stuffs, stationery and cosmetics. My target market are the students that reside in the hostels nearby. The demand for these commodities is overwhelming due to the growing population of the students that reside in the hostels. This is just the tip of the iceberg because the University is earmarked for expansion and this can only mean the demand for these commodities will rise further.
Customers generally prefer my Tuk shop to my competitor because we make sure that our food stuffs are fresh and upto date. I have also been able to acquire the services of an assistant who helps me during peak hours and this means we serve our customers much faster and with this we beat our customers hands down.
my business is highly profitable because i basically get my commodities from suppliers at wholesale prices and i sell these same commodities at retail prices. There are no major risks in this business apart from fluctuations of electric power and to mitigate this I intend to acquire a back up generator.
My monthly costs include purchasing commodities from suppliers, electricity bill, monthly rent and payment of wages that come to about ksh. 25000. My sales revenue monthly come to about ksh. 52000 and this means after all my deductions my total profits come to about ksh. 27000. i intend to use the money raised from the loan to acquire a microwave that will enable me serve hot food stuff to my customers, this will give me a competitive edge over my competitor.
finally i will ably repay my loan from my weekly sales. Thank you again zidisha team for this wonderful program.
Loan Proposal
Thank you so much Zidisha team for this wonderful opportunity to help me raise money which I intend to use to purchase a new Microwave for my Tuk shop. In my Tuk shop I sell commodities which include stationery, cosmetics and foodstuffs. The foodstuffs are best served when hot, this appeals to the customers more as compared to cold foodstuffs. For this reason I saw the need to acquire a new microwave that will enable me serve my customers better and thus increase my sales. I take this opportunity to urge lenders to help me fund this loan. Thank you in advance and God bless.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$50.00
Date disbursed
Feb 25, 2014
Repayment status
Late
Projected term
52 months
Lenders
Brussels, Belgium
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