Photocopying machine for my business

About Me

After graduating with a bachelor of commerce I decided to venture in self employment instead of joining the endless list of job seekers. My entrepreneurial skills led me to start a business trading in computer spare parts and mobile phone accessories. This business enables me to meet my monthly financial requirements and leave me with a decent amount to save or pay a business liability like a loan. Some profit is re-invested in the business to ensure that there is continual growth. Through this profit plough-back, it has enabled me to increase my stock, growing from the initial phone covers to accessories and computer repair equipment.

My Business

As stated earlier, I am a youthful entrepreneur who makes a tidal sum of income. In our rural setting, many clients lack access to mobile phone accessories. Traditionally, they used to travel many kilometers to the main county headquarters. The same case applies to computer accessories. Thus, with few competitors within this region, the clients are flowing to my business making me to have good profits. Typical monthly cost include rent of Ksh. 10000, electricity bill of Ksh. 2000, water bill of Ksh. 700 and labor/ wages of Ksh. 10000. This totals to Ksh. 22700. My monthly cost of goods sold is about Ksh. 48,000 and total sales revenue is about Ksh. 101000. This leaves me with gross profit Ksh. 53000. I apportion this amount to Ksh.15000 for recurrent expenditure and the rest for saving and re-investment. However, I expect this to change drastically by adding more stock to my business, I also intend to diversify my business to also cater for computer classes with an aim of increasing my business income.

Loan Proposal

My previous loan of $150 was a blessing to my business in which I stocked all the accessories that I had anticipated when applying for the loan. I can attest that my business has grown with monthly gross profit rising from the initial $280 to $360 thanks to my first loan I obtained from Zidisha. I was able to supplement the mobile phone accessories with the computer accessories from my previous loan and ploughing back the profits from the business. As business is about opportunities and customer satisfaction, I have noted that I am in dire need of introducing basic computer related services such as typesetting and printing as well as photocopying. This means that I must have a high speed computer plus a photocopying machine which cost an approximate of 330USD and 900USD respectively. I have already saved about 700USD for this project, meaning that if I get an approximate of about 430USD, I will be in a position to introduce this nature of service in my business thus boosting my revenue. It is for this reason that I humbly request the Zidisha lending team to extend to me a loan of 431USD so that I procure the equipment described above. This will be an inch closer to realizing my dream of self reliant and satisfying my clients. Thank you.