Stock of rice, sugar and tea for the "Glory Shop" kiosk

Entrepreneur

About Me

My name is Muttai Kipkoech and I live in Embakasi, Nairobi. My hometown is Eldoret, Kenya. I am married with two children. My career course is Tours and Travel Management. I also have a passion for foreign languages and can speak French. Currently, I am the Managing Director of The Big Five Adventure Safaris. I worked as a Tour Consultant at a tour company in Nairobi for a year before I decided to start my own tour company. I have always believed that I could do much more self-employed rather than employed. This way I hope to eventually help others through employment opportunities! Someone once said; ‘You will never be rich working for someone else!’ Thus the reason I quit my job to start my own company and do business.

My Business

I am venturing into the business of clothing. My business, Tracque Suits, will specialize in men's fashion, particularly slim-fit suits. I have done a market research in my home-town Eldoret and realized that a few clothing shops specialize in men's slim-fit suits which are now fashionable and in demand as they are the preferred official dressing during functions like weddings. I therefore see a business opportunity in selling men's slim-fit suits and accessories since I will buy them at a wholesale price in Nairobi and sell them at retail price in Eldoret at a profit. The initial costs are the starting capital to buy the stock and pay rent. I intend to use the profits to reinvest and grow my clothing business.

Loan Proposal

My mother runs a small Kiosk business back at home. The Kiosk is called Glory Shop. It is strategically located near a main road and is next to a primary school and a secondary school. Also located nearby is a health dispensary. This shop is strategically located and gets most of its customers from the above institutions. The shop sells basic household and foodstuff including sugar, rice, tea leaves and the day-to basic day items. I intend therefore to give the loan to my mother to increase her stock for the shop. With increased stock, the sales will eventually go up leading to more profit. Being a daily income generating business, there will be no problem repaying the loan on weekly installments.

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