Open a new branch of my growing salon

Jane

Mombasa, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Jane

Member since

May 2014

On-time repayments

182 installments • 82%

About Me

My name is Jane Wanja, born in Central region of Kenya. I later went to school in the same area up to secondary school. I later relocated to Mombasa in search of a job. I briefly worked for a fisheries company and later decided to start my own business after attending a short course in hair care.

I am a single mother with two children, a daughter aged 21 years and in college and a son aged 16 who is in secondary school.

I earn my living by running a hair salon that is located in Mombasa town. I am a hard working, resilient, honest and ambitious woman. I survived in the hostile world of business for many years due to the above qualities.

My Business

My business deals with hair dressing and related beauty work such as pedicure and manicure.

I also make a sell washing detergents on a small scale to supplement my income.

I make an average net income of about $280 from the business activities. I would like to expand my detergent making department if I get funding.

I normally produce about 20 liters per week of cleaning detergent which is way below the demand of my clients. If I get credit I will be able to buy more raw materials to enable me double the production hence increase my sales and profitability.

Loan Proposal

My business has experienced tremendous growth ever since I joined Zidisha last year. This has attracted many clients to my beauty salon and some have requested me to take my services closer to them by opening a new branch. This will also ease congestion at my current space which is too small to accommodate the surging crowd.

If loaned, I will spend this money to open a new branch on the other side of town. My budget for this ambitious project is as follows:

1. Rent deposit and lease agreement (a requirement when one is moving into new premises) $300

2. Branding, Renovation and fixtures $250

3. Licence from the local government $150

4. Basic equipment and products to start off the work $100

I will use some equipment in my current salon as I wait for the business to grow.

This will be a major milestone in by business journey as it has potential to double my profit since I intend to open the new branch in a very busy area of the town where success is almost guaranteed.