Loan for expansion of my barbershop

Entrepreneur

About Me

I am 24 years old. I am a part time student at Maseno university studying economics and statistics degree.I also own and operate a barbershop in the local trading center. I ventured into business after the company that i worked with shut down and all the workers were retrenched. Loosing my job made me go through a lot of hardship as the salary i was getting on a monthly basis I used to support my mum to pay for my siblings fees. In addition I was staying at my own place, so with the loss of my job came accrued rent payments and general hardship. When my landlord gave me a three month notice to vacate his premises that's when i realized i needed a plan B.It was hard at first but after a few weeks i started to get the hang of it. I ventured into the barbershop business as there was a void in the market and the community had to go long distances just to get a haircut. Since now i had free time and a retrenchment package from my previous employment I thought why not venture into business. Since then i have not looked back and am hoping to own a chain of salon and barbershops. I love listening to music,watching movies and playing chess during my free time. I also work out twice or thrice a week.

My Business

I own a barbershop in Ahero town. It specializes in giving men,women and children haircuts. I also charge mobile phones and sell mobile airtime.
I decided to venture into this type of business as there was a void in the market and the surrounding community had to go long distance to just to get a haircut and those who were not privileged to have electricity in their homes had to go through a lot of trouble to charge their mobile phones. I also sell airtime because most people who brought their phones for charging asked for it.
I charge between 0.22USD and 1.11USD per haircut depending on the amount of hair,style the customer wants and age, children are charged the least amount and an adult depends on the customer choice of services.It costs 0.22USD to charge a mobile phone at my business.
On a good day i make at least 4.44USD from haircuts,1.67USD from mobile charging and 0.56 USD from airtime.On a bad day i make at least 1.11USD from haircuts,O.56USD from mobile charging and 0.56USD from airtime.
On average i make around 66.67USD per month, I spend 27.78USD on electricity,rent and maintenance.
Of the total profit accrued,30% goes to my personal uses,30% is reinvested into business and the remaining 40% goes to my educational kitty i.e my school fees.

Loan Proposal

I need a loan to buy better equipments for my barbershop and also to incorporate sales of cosmetic goods as i prepare to launch a salon alongside it in the near future. The current machine i use for shaving is almost worn out and overheats after a long period of use thus leading to wastage of time and lose of customers especially on a good day where there are lots of customers.A new machine will cost KShs3000.
I also want to start the sale of cosmetic and beauty products as most of the female clientele are already asking for a variety of products e.g lotions and jellies,make up kits and perfumes. I have talked to a variety of cosmetic suppliers from town and the recommended a start up capital of KShs5000 for a small but variety stock of cosmetics.
I will really appreciate any help that I can get towards the achievement of this.

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