Loan to start my fashion designing shop and business

Richard

Asin Fosua, Wasaa West Municipal Assembly. Western Region Of Ghana., Ghana

5% repaid

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How it Works

Entrepreneur

Name

Richard

Member since

May 2016

On-time repayments

58 installments • 50%

About Me

Richard Nana Kwame. I come from Assin Fosua in the Wassa west municipality in the Western Region of Ghana. I attended fiasiman senior high school and did came out with very good grades. I have three other siblings. My parents are both very old now. We did had the best of parental upbringing and me and my siblings were encouraged by our parents right at tender age to aspire to do whatever good that our hearts desired.
After senior high school, I took apprenticeship with a fashion designing institute to work on my talent. i did passed out with lot of knowledge just this July.
Then i worked for free with my institute for two months and i am now done with all the service and am now about to start my own shop and business.
I have learn well as to how to run a fashion designing shop and business. I have learn how to serve people and be patient with the learning process too. I bought my first sowing machine with my first loan backed by my small life time savings and managed to pay of the rest of the outstanding too. The western region of Ghana is a very nice place to stay with great people and culture. it happened to be the home of Ghana's first ever President too. I am very hardworking and well determined to make some great sense out of life with the help that lenders on Zidisha are helping me with. I am fully set now to start my own fashion designing Business.

My Business

When i took my first loan i was in a fashion designing training school and the loan came to be of great help as it afforded me a machine and other sowing materials. Currently i am all set to start my own shop. i sow and design for both male and female and that is my greatest advantage. I have only one machine to start with, and some few materials but with lot of demand and workload.
I choose this business due to the demand for it and my passion for the job. In my community this business is very profitable if you know your job very well as a designer. so will be selling both material and fabrics for sowing. then i will be doing the sowing too myself. since this is the beginning of my business i do not expect too much profit but i still believe per calculation that i will not make less than 25% profit on any $100 invested in my business.
I will very surely save a little and then reinvest into my business too. This loan will give me a shop and few sowing equipments and materials which is to set me off for a bright future.

Loan Proposal

I will want to thank all lenders and the entire Zidisha family for the help when i took my first loan. I was still under training then but i knew this day will come for me to start my own fashion design business too. I say thank I did Bought a sowing Machine with the first loan.
I will using half of this second loan for textiles, buttons, Thread, lining, pins and etc and the rest will be for the payment of my small shop which i just rented but not fully paid yet. so i will use part of the loan to complete the payment of the shop. Thus about $215 will go into all sowing materials while $200 will be used to complete the payment of the shop for two years lease. Then $30 for electrical works in the shop and other expenses.
This will provide for me a starting point in life as a young man. Then to the people of my community, nicely locally designed dresses at affordable prices will be at their disposal. I expect my profit to be moderate since i am starting out and as a new shop. Hence i expect around 20% to 25% profit on the invested capital.
I have hope and i will work hard to build my business and also to keep to repayments as i did with my first loan.
Thank You.