Livestock for slaughter

Paul Odhiambo Omondi

Nairobi, Kenya

8% repaid

Entrepreneur

Name

Paul Odhiambo Omondi

Member since

May 2016

On-time repayments

178 installments  •  30%

About Me

I grew up in Nairobi but most of my schooling,I did in the rural area.I saw my father struggle with us to get a decent education,and even how he could manage to sustain all seven of us.that's the force that drives me to making a better life for me and my family because i wouldn't want to see my family go through the same.that's my reason to starting my business.
I live in Nairobi the capital of Kenya.this is a city with much difficulty in life and for someone to survive,they really have to work hard for it,this is because the standard of living is so high.
Driven by this urge,I find myself working tirelessly to cope up with the competition in life.
Since my work and business involves sourcing for cattle for slaughter in different parts of Kenya,and so I travel a lot,and thus traveling is my hobby.Sometimes it takes up-to 11hrs in the vehicle,which can be cumbersome,but with time,I learned to love it

My Business

my business involves soursing of livestock from different parts of Kenya to be slaughtered in different slaughter houses.at first,I used to supply KENYA MEAT COMISSION,but of late I have been suplying FAMERS CHOICE AND QMP(along kangundo rd).
In life,food is important aspect,and food is neccessary,and meat is food taken by most people,in my country and outside.my work involves sourcing for cattle for local slaughter and for export slaughter.
My main reason for joining this business is because food substances will never be out of demand and its a neccessity in life.
When I buy a goat for slaughter,for example,I make sure that I get a profit of not less than 700 KES PER Head.This is because I get paid on carcass weighed of the slaughtered animal.So I have to be diligent and extra careful when buying at the market,so in a trip of goats, I make a profit of about 50000 KES and above,depending on the number of goats I bought.
In cows,for slaughter, I make sure that i make a profit of not less than 5000 KES. Per head.I also have to make sure that I buy cows with the right kilos since am paid on carcass weight kilo.with this in mind i make sure that i do the right thing.
Most of the time,my profit is used to grow my business,because the higher the number of cattle i have,the higher the profit.And in other times,I channel some part of profit into my other projects,that is sugar cane farming.

Loan Proposal

I will buy more goats/sheep for slaughter , since the higher the number I get the more the profit and also it helps me serve my customers well who expect higher tonnage every week.
I also realized that I could start a small butcher in my neighborhood and sale at least three goats in a weak,this will also escalate my weekly profit since am sure food supply is of importance and people also need it.
Price of one goat/sheep in a local market costs about 20 dollars which in turn I sale at about 29 dollars.I expect a profit of 7 dollars per head of goat/sheep minus expenses.
This loan can add at least ten more heads in my stock, thus increasing my supply and also adding confident to my customers.
I there for expect my business to grow by a margin of 10%.

Feedback

None

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Loan Info

Project Type

Classic Loan

Disbursed amount

$704.37

Date disbursed

Oct 25, 2017

Repayment status

Late

Projected term

25 months

Cost to entrepreneur

Service fee: $29.71

Paul opted to pay $330.67 into the Zidisha Members Loan Fund in return for a higher starting credit limit.

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