Increasing the number of my smart phones

Collins

Kumasi, Ghana

100% repaid

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Entrepreneur

Name

Collins

Member since

June 2016

On-time repayments

64 installments  •  69%

About Me

My name is collins Twum Barimah, i'm a fante from the central region of Ghana. I'm 33 years of age, i completed my juniour high school education in the year 2002, i finished my seniour high school also in the year 2005, after my seniour high school educatin, things became tough for me, at that time my father felt sick and my mother's business too collapse so i decided to embark on this phone business, since i had no huge amount of capital to apply for loan, i could not expand the business so i quit until a freind gave me some money to add to the old capital, i have been using the small capital till this time.I'm methodist and also youth organiser as well.

My Business

I started this phone business with small amount of capital, i sell both china phones and android but the android ones are small so i'm planning of inreasing the quantity of the android next year, but for now i need this loan to increase the number of the china phones, so far i have about 90 china phones and 20 android ones. At first i used to repair phones and i now share a repairs shop with a freind in Ghana, i sell the phones at a road side,i will use the profit to pay my sibblings school fees and take care of my parents especially my granny who is sick.Also i will expand the business by opening a new branch next year if i get profit.

Loan Proposal

I want to increase the quantity of smart phones i have,iam planning to buy addditinal 8 to 9 smart phones making it 29 in total,the cost of each is 40 to 45 dollars,these new smart phones will help me increase the profits because they are a new type in the market and due to this when customers comes to me they will get some ,as a result i will get some profits.I will also want to start with pendrives and memory cards so the profit from the smart phones can be use to start that area.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$274.00

Date disbursed

Jan 20, 2017

Repayment status

On Time

Projected term

10 months

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Jun 2016:  $147

Sep 2016:  $293

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Ask Collins a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

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  • Collins    Mar 8, 2018

    Still counting on my lenders for my next loan.

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  • Collins    Mar 4, 2018

    Please my lenders help me secure this loan because my business is at the edge of collapsing, you have been my help from all this while.

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  • Collins    Feb 7, 2018

    With my little sister.

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  • Collins    Jan 11, 2018

    Please my lenders help me this time get this loan,because without you my business can't grow,you have been my only source of hope in life.

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  • Collins    Dec 21, 2017

    Please my lenders help me with this loan,because with out you my business won't grow and I can't help to pay siblings school fees and some bills in my family.please help me this time again,I know I have been depending on you and you never left me down.

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  • Collins    Dec 4, 2017

    My new branch ,all the creadits goes to my wonderful lenders.I started this from my small profits.

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  • Collins    Dec 3, 2017

    My family

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  • Collins    Nov 25, 2017

    Thanks

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  • Collins    Nov 25, 2017

    Thanks lenders for helping me expand my business,a picture of me a the wholesale shop buying new goods.

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  • Collins    Nov 22, 2017

    This another small branch of my new business, I started this in the month of September, all through the help of the lenders of zidisha and their loan.I started this from the small profit I made from my main business, at first I decided of selling phone accessories but the mind change because the sales of the accessories was too much at where i work so I chose to open another phone arena.I want to thank the lenders of zidisha because it's their help that has brought me this far.

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  • Collins    Nov 15, 2017

    Appreciation to the lenders of the zidisha for helping me through my business with their support, it's not easy to get a loan without having money in your accounts, especially in a country like Ghana.I want to take this opportunity to alert my lenders that I have finished paying my loan and looking forward to the next one.Thank you.

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  • Collins    Nov 4, 2017

    I still want to increase the number of my phones with both smart and normal phones,I want additional smart phones to increase the number of smart phones I have, and I also want to create job for some street guys out there,if I'm able to increase the number of my smart phones,I can make more profit from it and also employ others too.when I get this loan,I can buy additional15 to 20 smart phones to what I have now.I can also buy additional 25 normal phones also.the price of the smart phones that i want to buy range from 300dollars,450dollars and 550dollars,the profit on a 300dollar phone will be 5 to 7 dollars,the profit on a 450 and 500 dollar phone will also be seven to ten dollars.After this loan I want to open a phone accessories shop also in other to employ some of the guys who are not working. The price of the normal phones i will buy too will range from 15,160and 20dollars,and the profit on this normal phones will also be three dollars,four dollars and five dollors.

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  • Collins    Nov 1, 2017

    I thank the board of zidisha once again,because they have help me soo much.Had it not been them, I wouldn't have come this far,through their support I'm now able to sell smart phones and iam even planning to open a different branch to start selling another normal phones.this are some of my pictures when going to buy the phones.

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  • Collins    Oct 22, 2017

    May God richly bless you lenders of zidisha,it has not been eazy from day one of setting my phone business, but after meeting the lenders of zidisha,things have now change,at first I find it though in paying my nanny's medical bills and also can't pay my siblings school fees but after the second loan,my profit margin rised up which help me pay this bills and also my business is growing, iam now planning setting up a new phone businesses.

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  • Collins    Sep 26, 2017

    I have bought additional smart phones to the old ones, due to this my customers are willing to come to me anytime for their smart phones, at first i used to struggle to get them such phones but due to the help of zidisha I now sell the best of smart phones at my area, and I have even decide to start supplying some to the nearby vilalages. And my profit margin too has increased now , I can now pay my bills at home and also help my grandma buy her drugs and also pay my siblings school fees. Iam much greatful my lenders. Thank you.

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  • Collins    Jun 13, 2017

    Things are not working for me now,my grandmother is very sick,since iam the one taking care of her, all my time i have spent on her at the hospital,due to this i can't go the market regularly, i asked a friend to be selling my phones for me but he has eateing all the money he get after sales,due to this i asked him to stop, but i have started work on my own but here we are in the raining season,my sales too has gone down, so i want to reduce my my payment to Ghs 20 weekly,thank you.

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  • Collins    May 28, 2017

    I have been having problems lately,and that is why my payment has been slow this time, my granny was seriously ill and since I'm taking care of her, I was not going to work for some months, because I had to take care of her at the house.

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  • Salihu    May 11, 2017

    I have been able to contact Collins and he said it was due to curtain circumstances beyond his control that is why he is late in repaying the instalment. But as at now has started paying.
    Thank you

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  • Collins    Jan 20, 2017

    It is almost a week since i applied for my loan but the money hasn't been disbursed.

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  • Collins    Jan 4, 2017

    I thank the board of zidisha because if not them,my business wouldn't have come this far,i started with small capital but after meeting zidisha,i can see that my business is growing.At first used to order only 10 quantities of phones but after meeting zidisha,i order for 30 orsome times boxes of phones.thank you the board of zidisha.

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