Medical supplies for my pharmacy

Entrepreneur

About Me

I grew up in a remote area in the eastern part of Ghana called adeso.being the first girl in a family of four, i started fending for myself and my younger siblings at a very tender age because my father who was our breadwinner died when i was just 11yrs old. I fetched firewood from the farm to the market center for sale three times in a week before going to school. I had to go to the market after school each day to help my mother with her tomatoes business. I did this for several years until the time came for me to go to the secondary school. I moved to Kumasi in the Ashanti region to live with an uncle of mine to attend secondary school. Amidst all the financial hardship, i was able to finish secondary school where I offered business accounting and gained admission to Kumasi polytechnic to pursue HND accounting. I managed to raise some money after i served in a pharmacy as a sales girl and with the help of my uncle and mother i was only able to make it through only the first year at the polytechnic due to financial constraints. I however quickly enrolled to a certificate awarding pharmacy school for six months and now have a license to operate a pharmacy. I took a loan from a microfinance institution in Kumasi and started my business which I'm proud to say is in its fourth year.I must also state that I have repaid the loan in full to the institution. My business is located in a very busy part of Kumasi called kadjetia and what is unique about the area is that the people here never sleep and are always business minded. I'm blessed with a beautiful baby girl and she aspires to be a lawyer in future. Growing up,i remember i used to like a game called oware. It's a game played between two people.we used to dig eight little holes on the ground and fill them with four palmnuts each after which we took turns to collect the palmnuts from one hole and drop them in each hole one by one until your hand goes empty.

My Business

I'm into the sale of assorted pharmaceutical products. The products range from over the counter pain relievers to prescription drugs. I have employed two salesgirls to help in the day to day running of the business. It is a fast moving business because on a daily basis, people from all walks of life walk in with one medical problem or the other to which they need solutions to. The shop is strategically located at the heart of the central business district of Kumasi so the pharmaceutical companies send their sales vans on a daily basis to supply us with drugs which help me to cut down on transport cost.the cost i however incur include rent, staff salaries, tax etc which makes up about 30% total revenue.
Between 80 and 90% of total profits is ploughed back into the business since it is a developing one and needs a lot of capital injection.

Loan Proposal

I intend to use the loan facility to purchase more supplies for my shop. Most of my suppliers require that i make an initial downpayment before they supply me with drugs so i intend to use the facility for that purpose so as to push up my supplies and hopefully boost profit by up to 20%.

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