108 installments • 59%
I grew up in a remote village in Western Kenya along the shores of Lake Victoria.I was involved in child labour since I started fishing at a tender age of 6,this was because I was an orphan. Through my perseverance and community support managed to go to school and overcome all these. I started this business because I also wanted to give back community and that is why I chose school business and currently there are 40 orphans and vulnerable who are learning at the centre free of charge ,we managed to register 20 this year 2015.
Kayole being in a city has almost all the communities in Kenya with diverse culture, I would like my children to do community work in future and I like watching football and I am the most loyal supporter of Chelsea Football Club in Kenya.
I do two businesses in one; I provide services in form of education and also sell school uniforms to the children at the school and others in the community. The uniforms are in high demand when the year starts since most of the children will be in need of new school uniform and others might have changed school. I choose this business because it is a long term business since children are born daily and clothing in a basic need and education is also important. A full school uniform cost $ 8 and can be sold @ $ 12.The profits are ploughed back to the business to expand it and also support the orphans and vulnerable children at the centre.
My loan will be used to expand my school uniform business as we head towards admission of secondary school children,January was also a challenging month month of the parents since there was a lot of spending during festive season ,many parents were not able to take their children to school in the month of January.I will buy 20 shirts @ $ 2 and sell between $ 3.5 to 4 depending on the size ,I will also purchase 10 truck suit which cost $ 9 each,10 pullovers $ 4.This will help increase my profit by 60 margin and give me opportunity to support more orphans and vulnerable children.
The area is densely populated and that makes a ready market,the loan will help me sustain and expand my business,the children will also get ready uniforms in their neighborhood and that will reduce costs for traveling to other places to access uniform.
Feb 4, 2015
Cost to entrepreneur
Lender interest: $232.88 at 6.19% annual rate over 3 months = $3.76
Service fee: $2.28