Objective market surveys to help entrepreneurs

Samuel Munene

Thathini, Kirigiti, Kenya

43% repaid

Entrepreneur

Name

Samuel Munene

Member since

March 2014

On-time repayments

166 installments  •  9%

About Me

My name is Samuel Munene, the third born in a family of four .I hold a BA ( Economics) degree. After graduating from college I worked for a number of organizations before losing my work after the company I was working for went under. I trained myself by reading and started freelancing as fiction and creative non fiction writer, social researcher. I also tried my hand in business.

Its when I wanted to start a bookshop and was looking for objective information to guide me on the status of competition, margins, consumer behavior, suppliers that I spotted a business opportunity. What I found from friends and newspapers was too theoretical, and not objective enough. I had to spend a lot of time researching . So I thought if I could save potential entrepreneurs the hustle by providing affordable off the shelf market surveys.

In June 2013 I set up my business to provide ready market surveys, but it wasn't until November when the business really picked up. Now money from the business supports my family of one wife and a daughter. I pay rent, buy food and day to day expenses. My plan is to go beyond this point of survival to thriving, and this by growing the business.

My Business

My business is called Crack A Business Kenya , whose website is http://www.crackabusiness.com. I provide potential investors with ready objective and street smart market surveys focusing on Competition & Survival, Revenue & Margins, Capital, Process & Licenses, Consumer Behavior, Manpower, Tips and Tricks.

This is information to help give a potential investor a pretty good idea of what is happening in the market even before she commits her money or starts writing a business plan.

Presently there is no company in Kenya providing off the shelf market surveys. What is available are business plans which are quite biased. I insist on "objective and street smart" because there is the theory of what is happening in the market, and there is also the reality- good or bad. I conduct of research before I come with a single survey.

The reception has been amazing with customers asking for all kinds of market surveys. My only hindrance is that I don't have the resources to conduct researches fast enough. So I am not able to fulfill so many of the customers orders.

If you give me the loan, I will be able to recruit temporary staff to help me in data collection. Also since I sell the surveys through a website I would like to improve it and include a proper shopping cart to make it easy for customers to order. Again presently all my advertising is through Facebook groups. I will use some of the money to advertise in newspaper classifieds and reach out to those with no access to the internet or who don't use Facebook.

Since November the income from the business has been growing at a rate of about 20 %. I can't keep up with the orders because I don't have enough income to hire personnel to help me work efficiently.

My plan is to grow the business to have as many market surveys as possible and expand nationwide. Income from the business is enough to pay my loan without fail.

Thank you lenders.

Loan Proposal

Dear Lenders,

My business Crack A Business Kenya (www.crackabusiness.com) provides potential investors with street smart objective market surveys to help them decide whether to invest in a business or not. The surveys cover Competition & Survival, Revenue & Margins, Consumer Behavior, Capital, Equipment & Process. It helps potential entrepreneurs save money by not investing blindly and make money by investing wisely.

I am asking for a loan equivalent to $97. I will use the money for two major purposes; One is to conduct research on a wider variety of businesses, more. so the most asked for by visitors to my website. ( For example Fast Food & Hardware).

Secondly is to market my business by distributing simple but effective flyers, and running a classified advertisement in the newspaper.

Presently I advertise through Facebook groups, and I have also managed to get very good Google ranking for some searches ( For instance Google Wines & Spirits business in Kenya , and my website is at the top) , I feel there are many more people who don't regularly use Facebook and Google who are in need of the market researches. Mine is the only service in Kenya providing off the shelf objective market surveys to small business people. Later I will
make my website more professional.

With a wider reach not only will I be able to increase my sales, but also pay the loan while providing investors with the knowledge to make the right decisions.

Help me fulfill my dream of creating more knowledgeable small investors. Help me help new investors save money by telling them in black and white what is happening in the market, and thus avoid making wrong investment decisions. Help me aid small investors make money by equipping them with the knowledge to make right decisions. Help me support myself too.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$99.92

Date disbursed

Mar 20, 2014

Repayment status

Late

Projected term

39 months

Cost to entrepreneur

Lender interest: $99.92 at 20.50% annual rate over 39 months = $67.36

Service fee: $11.60

Lenders

Jason

Auckland, New Zealand

Matching Fund

Sterling, United States

B

Boeing777

United States

J

jcmfl

United States

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