Inventory of mobile phones and accessories

Entrepreneur

About Me

Edwin Acquah is my name and I am the first born and female twins follows me. I come from Assin Kushea in the central region of Ghana where the locals engage in chillie pepper and garden eggs farming.
I completed Adisadel College at Cape Coast in the central region of Ghana. My twin sisters are in high school with the support of my parents and myself. My parents had decided to stay in our village where they engage in chillie pepper farming, a kind of source of income to support themselves and my sisters. I am determine to travel to either China, Dubai and the far east where phone and its accessories are cheaper and buy them myself in the near future. Also if my dreams become a reality, I intend to give my twin sisters the best of education and also take up advance courses in computer to keep myself abreast to time so that I can always take the lead if there comes competitions.
I enjoy reading, watching movies, outing and meeting friends, music. I am not a keen fan of soccer but on the national level I show my support.

My Business

I am into the sale of mobile phones repairs and seller of new and used mobile phones. The demand for mobile phones with new features in the community is high because of the internet social usage. Today many prefer to use the internet at anywhere, anytime rather than visiting the internet café that have time of operation and also use to close down due to electricity shut down in the town. Beside I am the only person selling and repairing mobile phones in the community and I am really enjoying the monopoly. One of my advantage or opportunity is the monopoly I am enjoying in the community and even if a competitor emergies, my hospitality alone will still keep my clients and bring in some more. I make about $250 in a month from the repairing phones alone. Kumasi is the second largest city in Ghana and it is in the center of the country and its attract traders from all the corners of the region. Traders from this city shuttles to and from Ghana, Dubai and China so items in Kumasi are cheaper than any other city in the country. This makes the city one of the cheapest place to live in Ghana. And for that matter Kumasi is the place I buy my phones and accessories and sell them to my clients. Also I buy parts for the mobile repairing from this city and the profit margin is really satisfying. Usually I close the shop whenever I travel to buy stuff to replenish stock and buy parts for the mobile repairing and to satisfy my clients, I sometimes stay very late in the shop to finish my clients phones.

Loan Proposal

The market potential is huge for the mobile phones, because there appears to be the unstoppable growth of the telecom industry. Currently, the telecom industry is among the strongest growth industries and is responsible for huge gains in the world markets today. The continued growth of cellular phones is increasing at rates which at one time were unimaginable. One illustrative example is that it is forecasted that within two years over 65% of children from age of 10-15 will have cell phones.
Future growth of the market/products is projected in the following areas:
Text messages between friends around the globe is big. Users can send regular Short-Message Service (SMS) or email on their phones. Email is of course limited to small file sizes, but many of the phones allow for English characters to be sent. Each provider also allows special characters to be sent, such as an array of happy and sad faces, small animated images, animals, people, hearts, etc. When special characters are not available, people often use a specialized set of faces to show emotion. Email can also be sent between different provider phones, but many of the special characters are lost, hence users may try to keep a circle of friends on the same provider to receive the special characters. Email, of course, may be sent from computers as well, but files are often stripped of headers and attachments when received on cell phones. Profit on each phones depend on its sophicication and today many especially students want sophisicated phones and we are experiencing short shelf life and that is one of the facts that makes cell phone business lucrutive. I am going to use the loan to increase my stock to meet the high demand

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