Increase inventory of second hand clothes in bulk
Pauline
Kisumu, Kenya
85% repaid
Entrepreneur
Name
Pauline
Member since
March 2014
On-time repayments
202 installments • 52%
About Me
This business was inspired after the birth of my nephew, when I went to shop for his baby shower and realized retail items were sold at exorbitant prices compared to the gently used items. Most new parents in my social circle had also expressed how they wanted the best clothes for their children, but unfortunately, financial budgets couldn't always allow for the purchase of children's designer clothing. Not to mention the fact that kids grow out of their clothes as quick as you buy them. Hence Mum and Toto was the solution to these problems which deals with secondhand clothing for children from birth to five years.
With the steady growth, I now want to increase the inventory by stocking a variety of clothing for all seasons as well toys and books and also cater to a wider age bracket. In the next 12 months I hope to grow the monthly revenue by 40% as well as have a physical boutique in order to take advantage of walk-in traffic.
My Business
The business is called Mum and Toto, (fondly named after my late mother and sister, Toto). This is a children resale store specializing in gently used brand name items at a fraction of the original retail price. We are currently operating online-this way we keep operating costs minimal.Mum and Toto provides a place to buy stylish, yet inexpensive baby items without having to spend a lot of money on items that will only be worn for so short a time, thus making it a popular choice for most parents.
In the last few years buying gently used baby apparel has taken off and many cost conscious parents are realizing they don't have to pay retail prices when they can get brand name or designer clothing for 50% and sometimes as much as 80% off.
Keeping the online store stocked week on week with variety and new re-sell items is a constant challenge due to limited financial resources as we cannot purchase in bulk. Our typical monthly costs on average are Kes 16,000 (USD 182) while sale revenues are Kes 28,000 (USD 319) hence able to realize a profit of about Kes 12,000 (USD137)
I am looking forward to not only getting funding but building lasting friendships with Zidisha community.
Loan Proposal
The resell business has been rewarding since inception, no matter what the shape of the economy is, people still have the need to buy clothing, especially for kids. Currently there's limited stock in the online store due to limited financial resources yet there are lots of orders to fill necessitating the need to purchase items in bulk, hence my loan application. I intend to fiercely grow the business by focusing more effort in merchandising to leverage on the customers who represent the market segment of the business. With the loan I will be able to not only buy in bulk but also have a wide variety for customer selection. Wholesale bulk lots are deeply discounted for resellers and this translates into amazing savings for me, enabling me to increase your own profit potential and in turn improving my quality of life.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$443.00
Date disbursed
Jun 13, 2014
Repayment status
Late
Projected term
45 months
Other loans
Lenders
Odense, Denmark
Hilltop, United States
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