Entrepreneur

About Me

I’m a 28 years old Kenyan businessman, with a college diploma in Banking And Financial Services. I’m currently running an entertainment enterprise under the name of Omega Media Group (O.M.G). I reside in Umoja Rd, Ongata Rongai, which is located approximately 10 kilometers from Nairobi’s CBD (Kenya). This also, is where my shop is situated. I started this business back in November, 2010, because of the passion I have for entertaining and for my financial upkeep. My business is currently worth at approximately Kshs. 74, 000 (USD 850)

My Business

Not only is entertainment an essential part of daily urban life, for the reason that it alleviates the stresses caused by constant hassles of city life; it is also increasingly becoming a part and parcel of modern Kenyan culture. My business entails a medium sized retail shop that provides its customers with such high-quality entertainment supplies, such as Magazines, Movies DVDs, Music CDs, and Play Station Games et cetera. There is a very high demand for my services in this area that I operate in, because of my reasonable pricing, my business location, and the good working relationship that I have cultivated with my wide client base over time. Despite the high demand for my services, my business still faces some challenges that are more or less financially related e.g. extensive marketing requirements and a need for high-tech electronics that will facilitate effective service delivery to my customers. My typical monthly sales revenues are approximately Kshs. 40, 000/= (exclusive of Labor, Rent and Utilities i.e. Electricity & Water: which amount to roughly Kshs. 25, 000/=) thus leaving me with a net profit of nearly Kshs. 15, 000. Most of my business profit is reinvested back into the business in form of stock.

Loan Proposal

I will use this loan to boost my business by increasing its stock and purchasing some marketing supplies that will increase my customer base, and in turn increasing my revenues. I wish to purchase a Duplicator that will assist a lot in my daily business operations, by enabling my customers to access faster and more efficient services, hence growing my returns and improving the image of my business by making more output in a shorter and less costly way. I also wish to acquire an Advertising Board on which I will be showcasing posters of latest products e.g. movies, for promotional purposes. A UPS (Uninterrupted Power Supply) is also a necessity to my business, which heavily relies on electricity, because of the constant power interruptions that occur, ending up hurting my businesses’ profitability. The overall monetary value, which totals to Kshs. 32, 500/=, is broken down as follows:
1. Purchase of a Duplicator @ Kshs. 17, 000/=
2. Purchase of extra Stock @ Kshs. 6, 000/=
3. Purchase of a UPS @ Kshs. 5, 000/=
4. Purchase of an Advert Board @ Kshs. 4, 500/=

The help that I will receive from Zidisha lenders will be highly appreciated. Thank you in advance.

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