More stock for my bags business

Entrepreneur

About Me

Hi, I'm Samuel living in Ongata Rongai town which is in Kajiado county, in the outskirts of Nairobi, Kenya. I run a business of retailing second hand assorted bags at my shop in Ongata Rongai town.

My Business

I run a shop merchandising assortment of second hand bags. I started the business five years ago and i want to take it to the next level. I have stumbled on an opportunity to buy out a struggling business and convert it as my store so as to expand my business.

I need US $ 500 to pay for the goodwill and do renovations. The breakdown is as follows

I'll use US $ 300 to pay rent arrears for the said shop.

Pay US $ 100 as transaction fee for change of ownership.

Use US $ 100 to renovate the premises.

In total I'm requesting Zidisha team for a loan of US $ 500.

Looking forward for your assistance.

Loan Proposal

I am in the business of selling second hand bags. I buy bales of mixed bags which i later retail in my shop. A mixed bale of bags will cost an average of US $ 500 which i will retail at an average of US $ 700. Less overhead expenses of about US $ 100 i therefore make about US $ 100 as profit. With injecting more capital to boost my stock, i'm looking forward to increase the profits. Kenya being a developing country, most of my customers comfortably afford my merchandise and have helped me grow my business. It's a win-win situation for my self and the customers i serve. I thank Zidisha and look forward to working closely with the organization.

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