Inventory of wool and knitting needles for knitting business

Entrepreneur

About Me

I grew up in a family of seven. My parents and my four siblings. I am the third born. My dad used to be a drunkard so my mum had to fend for us by farming. Sometimes we used to go help other people in order to support my mum. She was sickly and sometimes she could get admitted for more than six months. So we had to remain alone with my dad who was always absent. We managed to go through high school. Then my dad passed on because of alcoholism. To get through college we had to work in our relatives houses as house help though I didn’t manage to finish college because of mistreatment. My mum also passes on. Our relatives saw as a burden, I had to look for alternative way of surviving. I had to do something in order to help my siblings. My mum used to knit a lot so I acquired the art and it became my hobby. I decided to turn it into business because I could make unique items and it has provided for me financially.

My Business

I do make sweaters, socks, scarfs, legwarmers, bags, ponchos, and I do weave carpets too. I make unique & creative items that are not found in shops so they are on high demand. I chose this kind of business because it’s my hobby and enjoy doing it which gives me satisfaction. My costs depends on the item I am making, the materials or wool costs at low as $1.2 and as high as $16. I have also costs of needles of different sizes which include straight needles ( $1.2 -$4.7, double pointed ($2.3-$5.9 and circular needles ($5.9). I do charge for labour and i make o profit of $3.5 on each item. I am reinvesting back so that I make more items to able to save more & buy a knitting machine that will enable me make more items in a short period.

Loan Proposal

I will buy different colours of wool and different sizes of knitting needles. This will enable me make different items with different colours and the needle sizes will give different tension depending on the patterns.

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