Starting a health & wellness business
Michael Sarpong
Accra, Ghana
13% repaid
Entrepreneur
Name
Michael Sarpong
Member since
October 2014
On-time repayments
301 installments • 43%
About Me
I am Michael Sarpong. I am 23 years old. I am the first born of my parents with two siblings. I completed senior high school with a very good grade but could not join university because of finances. So I worked in the informal sector selling mobile phones for one year, until I was able to save funds to pay for my tertiary education. I am now a final year Bsc. Dietetics student in the University Of Ghana. I started my Hawaiian shirts business in the year 2012 during my first year vacation. This was to help finance my education and to prevent idleness as I stay home. Even after school resumed I didn't quit because it turned out successfully. I love to play football and dance to music. I also like searching for information online. My dream is to own a boutique, have a dietetics consulting firm and engage in a large scale agribusiness(rearing and selling of cattle)
My Business
I started my business in the year 2012 during my first year vacation. This was to help me finance my education and to prevent idleness as I stay home. The business turned out successfully and even after school resumed i didn't quit because it turned out successfully. I used to sell the Hawaiian shirts in school by visiting the hostels. I also send the Hawaiian shirts to offices for sale. I just started a wholesale boutique where retailers come in for the Hawaiian shirts for sale.I do advertise the Hawaiian shirts on whatsapp and instagram where clients give me their sizes, with description of color of the shirts they want and i deliver them to their offices in a good package style. My shirts are affordable and very attractive. My shirts suit every occasion too, therefore the demand is higher than what I have in stock. Thus, I will use the loan to invest in the business to increase my production. Every week I make an average sales of 500 Ghana Cedis which is equivalent to 157.11 US Dollars. I am sure that i will make turn around business especially now that i have started wholesale business.
Loan Proposal
Based on research done in Ghana and the world as a whole, obesity as a result of poor eating habit is on rise. In Ghana it is commonly found in sedentary workers like lecturers, bankers,lawyers etc.
Therefore my vision is to promote good health and wellbeing among sedentary workers in Ghana and my mission is to reduce the risk of cardiovascular diseases and type 2 diabetes among sedentary workers by providing periodic nutrition advice based on their anthropometric measurement.
In order to achieve this I have to purchase a stadiometer, body composition monitor, and blood pressure monitor.
Stadiometer is an instrument used to measure height
Body composition monitor is used to determine BMI, visceral fat, body fat, muscle mass and basal metabolic rate.
Blood pressure monitor is used to measure blood pressure
The price of the body composition monitor is 500 Ghana Cedis which is approximately US$130.
The price of the stadiometer is 1200 Ghana Cedis which is approximately US$ 315
The price of the blood pressure monitor is 250 Ghana Cedis which is approximately US$66.
I will use 1800 Ghana Cedis (US$475) to pay my hostel fees for my last 6 months in school and use 510 Ghana Cedis (US$135) to pay the remaining of my last school fees in school.
With the help of these instruments I will be able to promote the Sustainable Development Goal 3 which is Good Health & Wellbeing in Ghana. I have already written proposals to institutions that need my service and I have received a positive feedback. Thus I need the instruments to start work soon.
I will employ two of my classmates who will help me in the taking of the measurements and the nutrition education. A fee of 5Ghana Cedis which is approximately US$1.5 will be charged after taking the measurement and educating every individual.
The average number of people in an institution is 30. I am planning of visiting 3 institutions a day.
Therefore, in a day I can make 450Ghana Cedis which is approximately US$ 118.
Feedback
Positive
4
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$1,434.12
Date disbursed
Apr 5, 2016
Repayment status
Late
Projected term
55 months
Cost to entrepreneur
Service fee: $34.18
Michael opted to pay
$59.51 into the Zidisha Members
Loan Fund in return for a
higher starting credit limit.
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