Kenya

Motorbikes for grocery delivery service

Entrepreneur
Teresah Wamuyu
Kiptangwanyi, Kenya
Invited Members: 4   View

Volunteer Mentor: Silas Omuteku

This Loan
Pending Disbursement

Amount Requested: $2,929.00
Repayment Frequency: Weekly Projected Term: 13 months
Cost of Loan: $145.68
Show Cost Details

Cost of this loan

Service Fee: 5% of $2,929.00 = $145.68


Story
About Me

I was born in the Central Province of Kenya (Nyeri). My parents were peasant farmers with some coffee plantation, only, to tend to. It was challenging for them to guarantee us a decent lifestyle. However, despite these limitations, my parents believed in my education. They did their very best to ensure I went to school. It’s heartbreaking that they are not here anymore to witness the results of their hard work and faith in me, but wherever they are, am sure they are smiling and proud of their efforts.
I ended up a teacher, teaching in primary schools. I taught for over 25 years until I decided to seek early retirement to focus on making my small business work.
I am married with four children. My husband is a primary school teacher. Thanks to God, my eldest son secured a job and is working towards cementing his career. The second born has just started his small business. My third born is in his 3rd year of university. He has been helping me out so much over the holidays in running my cereals business. He is very interested in joining me after university to try and scale this business. My only daughter, the last born, is in her 3rd year in high school. She would love to study in University to become a doctor. It has been quite a struggle educating my children, but it is with God’s glory that we have managed.
Zidisha was very pivotal when I decided to start my business. A business, for me, was not only a means of meeting the needs of my community and creating a source of income, but also a way of liberating myself and empowering more of the people around me. I have always had a passion for helping people in need. Throughout my teaching career, I have lived with and accommodated different persons and treated them as family; ranging from a few orphaned kids, a HIV Positive girl, a son of a single mother, to my nieces who needed financial support. I do not do all these because I had any adequate financial capability, but rather because I felt it was the right thing to. That is why I look at my business as a means of not only empowering myself, but most importantly, a way of empowering my customers and persons I care about. That is my passion.

My Business

My recent loan application was for purchase of Inventory of cereals for my cereal store in a semi-arid area. I stocked the maize, beans, sorghum and green grams as promised. The business picked up relatively well; however, I met quite a number of challenges. For instance, my supplies of sorghum and green grams dried up and became too expensive to get elsewhere. I had to discontinue them and re-strategize. As you know, with small businesses, we have to keep evaluating the market to ensure we remain relevant since we do not always have sufficient resources. Therefore, I decided to introduce a few other shop products in order to supplement the store. I introduced products like sugar, salt, cooking fat and loaves of bread. Most of it has not really caught on, but the loaves of bread have. This improved to the extent of having a sufficiently stocked shop mainly dealing with cereals (maize and beans) and bread.
This business has improved, but it has become clearer that to scale further, I need to stop waiting for customers to always visit my store, but to start distributing to wherever they are. I have identified several far-flung areas within my locality where my distribution will prove effective. Within these areas I have very key customers of the cereal business and the loaves of bread. To service most of these far-flung customers as well as look for others, I need to buy more inventory of the products earlier mentioned, purchase one motor cycle, and rent another motor cycle. This is the reason which my loan application is based on.
To determine why my customers choose me over others, I decided to conduct an informal survey by asking them why they still bought from me. I realized that they prefer my products to others because of two key factors: one, the fact that my products are priced more affordably for them, and two, because of the personal rapport I have established with each of them.
For instance, my competitors still sell one debe of maize cereals at $0.82 while I sell mine at $0.71. I also have a good deal with the bread manufacturer who supplies me. I deal in Broadways bread which I sell to small shops and other consumers 10% cheaper than competitors.
After subtracting the monthly costs and payable taxes, my profit margin is an average of 20-25% across the products. Expanding this business will give me good economies of scale that will further lower costs and give me an opportunity to better serve customers.
The profits I have made so far; I have used the same to rent a bigger space for my business as well as rent a small space elsewhere to act as a store for surplus products. I pay $89.32 per month of both rents. Some of the profits also went towards increasing my order of loaves of bread in order to try satisfy demand; The rest of the profits I used to clear the remaining part of my Zidisha loan in order to get access to a larger loan to finance the most important activities of the business.

Loan Proposal

I will buy three motorcycles to help in the transportation of my merchandise.
Each motorcycle will cost approximately $930.00, and then hire the riders who will be ferrying the commodities to my customers.
This will surely increase the productivity of my ventures thus the profits.
I surely thank you Guys for everything you have enabled me to achieve.
Thank you.



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Feedback
Positive   6      Neutral   0      Negative   0     

  • TomF925     May 30, 2016

    Positive

    Great payback record and business acumen in marketing foodstuffs to rural Kenyans. I wonder if she could expand into solar and other technologies to establish distributed, clean local energy. With solar, rural areas can leapfrog over outdated entrenched technology (centralized power stations) and avoid addiction to expensive fossil fuels.

    • Teresah Wamuyu     May 31, 2016

      Thanks Tom. Clean energy could be a wonderful venture I agree. Just requires giving it proper thought. But first, assist me feed our people. Thanks alot.


  • KirstenShute     Jun 17, 2015

    Positive

    Great repayment record, thank you!


  • mossuto     Feb 11, 2015

    Positive

    tks


  • Kjartan     Sep 30, 2014

    Positive

    Repaid before due

    • Teresah Wamuyu     Jan 27, 2015

      Hello Kjartan,
      Thank you sincerely for supporting me over that period of time. I repaid early when my poultry business did well and i was ready to diversify to a closely-related business for which my new application is now based.
      I seek your support on this one too.
      Thank you so much.


  • granite     Sep 25, 2014

    Positive

    repaid as promised

    • Teresah Wamuyu     Jan 27, 2015

      Hi Granite,
      I wish to extend my gratitude for the support you have bestowed on me over the period. The support was fruitful and has led me into having the courage and confidence to pursue another venture this year.
      I seek your support on the same too.
      Thank you.


  • KM     Sep 23, 2014

    Positive

    Repaid almost a year ahead of time ?!

    • Teresah Wamuyu     Sep 24, 2014

      Hello Kilmeny, Yes am very thankful to you for having given be an opportunity to grow my poultry business. It became profitable and that's why i was able to repay a year ahead of time. The poultry business is now running on its own, i have appointed a manager to actively run it. I have decided to diversify into a cereals store that will stock maize, beans, sorghum etc. My intended plan of financing is by using some of the profits from the poultry business and perhaps some more financing from Zidisha. Am eternally grateful to you Kilmeny and other lenders for supporting us all through. God bless you.


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Motorbikes for grocery delivery service

Teresah Wamuyu
Kiptangwanyi, Kenya

Pending disbursement