303 installments • 22%
My name is Evonne Sifuma. I am a 27 year old lady and the third born in a family of four. I was born and brought up in Eldoret town, an agricultural town with many businesses ; these served to inspire a business bug in me. I live in Mombasa, Kenya where I work with a Fast Moving Consumer Goods Company as a marketer. I studied business management up to diploma level at the Kenya institute of Management. I have always had a passion to start and see a business grow and early January, this year, I had the satisfaction of starting a business, selling beverages and cold drinks mostly soda and drinking water in my area. I started off from my savings and am proud to see its continued growth.
I run a small business, selling cold drinks (beverages and bottled water), that’s strategically located in Mtamboni town, Mombasa. The great location and the hot and warm Mombasa climate favours my business as it ensures a high demand for the drinks all year round. Having lived in Mombasa for a long time, I observed a unique characteristic of the coastal people; they are friendly and will spend a good amount of time catching up with friends and making new ones. I used this observation to give my business an edge over similar other establishments and kiosks, in that, it’s a very simple shop with benches arranged under a shade of thatched roofing, that gives it an aura of simplicity, openness and friendliness. Customers frequent the shop to have cold drink as they catch up and discuss local politics. Having started off in January this year, the business has quickly gained ground and with increased demand, I upgraded from a single door to a double door, larger fridge; using some of my savings and my first zidisha loan. From my savings I have of late also added a common coastal delicacy, mahamri, to the menu, as an accompaniment to the drinks. On a good day, I make a profit of atleast 15 USD which, after all my monthly expenditure, translates to between 250-320 USD per month.
So far I am happy to be running a profitable business, though there has been a steady increase in overhead costs e.g rent cost of transport of the drinks to my premises and other running costs e.g salaries for my permanent employee and the cost of producing the snack due to an increase in the price of wheat flour and cooking oil. This notwithstanding, I have been thinking of expanding the business further, to increase the profit margin and also provide employment to at least two more permanent employees. With the loan from zidisha, I want to introduce a hot beverage, thus, increase the hours of operation to 9 o’clock in the evening. With an introduction to tea, I can accommodate more customers in the evenings. However, fresh milk for tea preparation can only be sourced from contracted farmers in the town’s outskirts at a cost of 0.5 USD per litre; feasibility studies show that I will require at least 10 litres daily, which can then be adjusted accordingly, in future. I will also have to buy at least 5-6 kilograms of sugar daily at a retail price of 1.4 USD per kilogram. Introduction of the new venture is projected to make at least 5-8 USD in profits daily. Hiring two new staff will setback the business 100 USD per person, monthly, in salaries. I am kindly appealing to you, the zidisha family, to once again support me in expanding my small business that provides a livelihood for my family and will be a source of employment for three other youths.
Dec 18, 2014
Cost to entrepreneur
Lender interest: $286.52 at 4.00% annual rate over 67 months = $64.23
Service fee: $59.34