183 installments • 65%
I was raised by my grandmother from a humble background after the death of my mum who passed away when I was eight years old. I passed through hardship but I was successful to get education which provided me with enough knowledge and skills to be an entrepreneur. I have been idenfying numerous business ideas and opportunities but have never been able to implement the idea due to Lack of funds. Out of my ideas, I decided to pick on wines and spirit business which is a very profitable business in our country.
As you may know, in our country about 60% in every area drinks regularly while about 40% drinks daily spending an average of kes 150 daily per person according to the recent research carried out by NACADA. The demand for wines and spirit has been so high in my shop that most of the time I usually run out of stock because I have been stocking insufficient stock due to lack of enough stock. I would like to add a stock of kes 150, 000 to cater for the high demand. This will ensure that I retain more customers and my sales volume will be high hence more profit. As a result, I will be able to repay all the loan on time
I will use the loan to increase my stock to avoid issues of running out of stock most of the time. I will be able to retain my customers, acquire new ones thus increasing my sales volume and more sales means more profit. I will reinvest the profit and donate some to children's home around me. I expect my profit to increase from kes 3500-7000 daily.
Jan 20, 2017
Cost to entrepreneur
Service fee: $18.55