Loan to expand my provision store

Entrepreneur

About Me

I am Victor Mensah, the last born in a family of 6 and was brought in Tamale. I am passionate about entrepreneurship and 4 of my sibling are self employed. My dad was also a business man before he retired , guess entrepreneurship runs in the family!
I am a trained a teacherwith a bachelors degree and which has been quite useful in helping me run my business.When i graduated i went about looking for a job but soon came to realize it was better and more fulfilling that i create one for myself -and hopefully for other too in future.Its both exciting and fulfilling to watch your business grow from nothing and have dreams and goals to make it even bigger in future.
When not running my business .
I am also engaged in community work and work together with my local church to reach out to the less fortunate in the rural areas.

My Business

My business is registered as a sole proprietorship since 2015.Its very simple and straight forward, i import watches from Accrs and resell them at a profit.
i run the business online selling via Facebook, word of mouth and referrals. but the biggest bulk of my sales comes from Jumia, the biggest online selling portal in Kenya.In order to reduce startup cots i decided to go online and work from home, this helps me save on rent and other utilities which can cripple a young business.
My target market are young Ghana between ages 20-45 , they are tech savy and internet services are available in all major town s in the country. hence its easy for customers to find my products using their provision,
My major expenses are the purchase of stock and shipping. The online store fulfills orders made on my behalf. However they take a commission of 10% on the sale .Most of the profit i get is re invested in the business.
I intend to use the loan to top up my savings so that i can purchase more stock with a wider variety, to include ladies bracelets, earrings and necklaces.
My plans for the near future is to improve on the variety of the accessories and also open a brick & mortar store so as to reach a wider market.

Loan Proposal

I intend to use the loan to buy new scarves for both men and women as they are in high demand during this cold season.
This new stock will help me increase the variety of items on offer in my online shop as i was previously selling watches only.
I look to add different varieties of stock as time goes by.
Thank you.

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