Loan to purchase kikoy towels for sale

Entrepreneur

About Me

I am a 29-year-old Kenyan. I live and work in Westlands, Nairobi. I went to Primary and Secondary school in Western Kenya (Vihiga County). In 2010, I trained as a driver and I currently work as a personal Driver. I was raised by my mother since my Dad passed away in 1994. My primary school education was okay since it was close by and fees and requirements were not expensive. I qualified to Join A good provincial high school but due to high school fees, I had to move to a Secondary School closer home to where I would commute. After training as a driver, I got a job as a personal driver in Westlands. I have been doing this job for 4 years. Once I had a daughter with my wife, i had to find ways to increase my income in preparation for her schooling. I decided to start selling Blankets, Duvets, Bed Sheets and Curtains as a side hustle. My Wife runs our small family business from home. She started off walking these items door to door while selling them. After a while, we got to create many clients who knew about our products. They continue to come, inquire and purchase them from home. I live in a low income area where people tend to spend mostly on basic needs and less on luxury. This is why I focused on selling items that people need more and at affordable prices. I make sure I get the items I sell at prices that will allow for profit-making, however minimal. When am not at work, I help my wife with the business. Sometimes, We get to play with my daughter who is a year old. When am not selling, I spend more time with my friends networking and catching up on the latest events and happenings.

My Business

My Business entails the sale of Beddings (Blankets, Duvets, Bed-sheets and bed-covers) and window / Door curtains. Since I live in a low income area, I get these items from Gikombaa Market in the city, where one can find low cost Second-Hand (Mtumba) items. I take them home, sort them, clean, iron and apply perfume. My wife then sells these items on a door to door basis or to customers who walk into my place and request for them. These items are in demand since the movement rate in the area where I live is very high. People are moving in and out at a faster rate. Many people who are fresh from up-country and are looking for jobs in the city tend to prefer settling in areas that are cheaper to live in. They need these items to start life or replace worn out ones. The place I live favors this kind of business.
Typically, I purchase a Blanket at 700 Shillings (7 USD), Duvet at 800 Shillings (8 USD), bed covers at 500 shillings (5 USD) and curtains at averagely 400 shillings (4 USD). I get at such prices because I buy in bulk and the items I purchase are second-hand. Blankets would go for 800 shillings, Duvets for 1000 shillings, bed covers for 600 shillings and curtains for 600 shillings. With at least 5 units of every item, I manage a profit of at least 3,500 (30 USD) shillings on completion of sales. This is subject to bargaining over the prices by customers. Costs incurred mostly are daily self-effects and transport for my wife when she is selling these items. After saving at least 2000 Shillings (20 USD) and deducting 600 Shillings (6 USD) for my wife’s expenses, I get to entertain Esther, My daughter with small gifts and presents. The savings I make are intended for Schooling my daughter.

Loan Proposal

February has been exceptionally warm in the city. I would like to sell Kikoy Towels / Cardigans as part of my business. Blankets and Duvets are moving slower due to the warmth. People prefer to cover themselves in lighter material than the Blankets and duvets I sell. To avoid slower movement of items, I would like to purchase at least 15 Maasai Kikoys to sell while the warm season lasts. They will cost me at least 800 shillings (80 USD) each, totaling to Ksh. 12,000 (120 USD). I intend to sell these items at not less than Ksh.900 each, which would see me make at least a profit of 1,500 on the whole lot. This will allow me to sell more products and counter the effect that season has to the nature of products I sell. I would like to find ways to adjust my business in such a way as to mitigate negative effects of season on the levels of sales. The This will help me maximize sales and stabilize / increase profits. I’ll be very appreciative if I get the assistance from Zidisha to make this happen. Am looking forward to the help from lenders on this one.

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