Mobile phone accessory business expansion plan

Entrepreneur

About Me

I am twenty years old and a student pursuing a bachelor’s degree in Economics with Information Technology in Maseno University situated in Maseno near Kisumu city. I began my education journey back in my home town of Molo in the year 2000 in St.Francis kindergarten and primary school. After successfully excelling in my final primary school examinations in the year 2008, I joined Koelel High School in Gilgil in Nakuru County. Four years later I managed to join Maseno where I am currently pursuing my degree course. At the moment I am in my first year of study and am working hard to achieve my academic goals.

My Business

I have an electronic shop specializing in sale of mobile phones and mobile phone accessories such as earphones, covers, batteries, SIM cards and chargers. I embarked on this business immediately after clearing high school in December, 2012. This was a great business idea that came into mind after identifying a huge market gap in Molo town. Such businesses located in Molo by then could not satisfy the large number of mobile phone users who were in need of such services. My initial capital came from my supportive parents after sharing my investment idea with them. I started off with US dollars 350 and that I used in obtaining the opening stock, registration of my business and payment of rent. On joining university I opted to hire a person to look after the business. My business has ever since been growing at an encouraging pace giving me the urge to expand it.

Loan Proposal

I have been realizing significant profits of averagely US dollars 55 every month. This is after calculating the total costs and taxes incurred including transport, electricity and paying my business caretaker. I am hoping to carry out an expansion on the business in the next few months. To achieve this dream, I am hoping you will consider funding me with a sustainable amount of US dollars 145 that I will add to my savings. I already have US dollars 95 and am requesting you to lend me the supplementary amount to facilitate the plan. With the total amount in hand, I will be in a position to obtain more stock and rent a bigger room for my business. I also hope to hire another employee to help in the expanded business. Kindly consider lending me the amount is requesting for. Thank you.

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