Profitable and lucrative sofa set making business!

Wilbur

Mvita, Kenya

18% repaid

Entrepreneur

Name

Wilbur

Member since

April 2014

On-time repayments

41 installments  •  29%

About Me

I am Wilbur Kiplagat 21 years of age, hardworking and business orientated. My passion in business made me to be an entrepreneur ready to venture into the professional field. i am a fourth born in a family of five sons namely; Sammy, Nickson, Robert and Wilfred. we are parented by Joseph and Susan. My father is a businessman owning residential flats, a number of fixed assets and he also engages in commercial agriculture where he plants wheat for commercial purposes. My mother is a renowned farmer dealing with planting maize sorghum and vegetables in the well-known Uasin Gishu region.
My home is located in the great rift valley, Uasin Gishu region, Ainabkoi constituency and Kaptagat ward. We live near flax centre which is famous for storage and maintainace of fluorspar which is transported from Kerio valley. The nearest town from my home is Eldoret town known for its success in agriculture and production of re-owned athletes all over the world the likes of Ezekiel Kemboi, Asbel Kiprop and Nickson Chepseba.
I completed my secondary education in 2010 and attained a mean grade of B+ in KCSE and thereafter enrolled for university in the university of Eldoret (UOE) where I pursued a bachelor’s degree in actuarial science currently in 3rd year. I basically started the business to help my parents financially in terms of provision of basic needs in the campus. Apart from that, my passion in business made me to take a step in businesses.
To add on that my sense of responsibility natured from my high school that has gradually grown over the years eventually lead me to take a try in business especially because business was my best subject in high school. From the earnings of my business, I can add more stock to the existing stock of my goods and services since the business consist of a business shop enclosed in with an mpesa shop. Apart from that the earnings enables me to invest more in the business by injecting them to the m-pesa float adding more stock of chickens to the available stock etc.
Conclusion, the other reason for starting a business is that business itself is a career which can be done part time.

My Business

PROFITABLE AND LUCRATIVE SOFA SET MAKING BUSINESS, A BUSINESS WORTH!!
My business generally entails the making of quality sofa set and beds .The business premise is situated at a place known as Kimumu at the outskirts of Eldoret. The place is inhabited by the working class individuals who work in Eldoret town. Most of them are married making sofa sets and beds crucial necessities’
Beds and sofa sets are highly needed as they make an individual comfort keeping in mind that in this current generation, they are no longer luxuries. Apart from that, since the inhabitants are the working class individuals, the need of owning classic sofa sets and beds is crucial to ascertain and maintain their class. Sofa sets are very crucial to make a good impression when you receive your friends or family during those important meetings such as family get-together or celebration such as birthday parties and weddings.
Most of the hotels, lounges and offices nowadays preserve rooms for their clients equipped with a collection of conspicuous and comfortable furniture including sofa sets. This makes the clients comfortable and ready to enjoy the services offered by the hotel or office.
I basically chose this business because it is profitable and easy to manage. Apart from that, the fact that the business location is suitable makes it marketable considering that the goods are in demand in all hotels, supermarkets, lounges and offices in Eldoret town. It is an enjoyable business as it enables you to interact with many clients and master their tastes and preferences and enable you to improve on the quality of services offered.
TYPICAL COSTS
-Pieces of Timber for a 7 setter sofa set - 50 Ft *100 = 5000/= =$63
-Glue = 1000/= =$12.5
-Cushions 7 @ 500 = 3500/= =$43.75
-Nails (2 inches, 1.5 inches and 3 inches) – 4Kgs =1000/= =$12.5
-Labour - (2 workers) =1200/= =$15
Total 13,200 $165


REVENUE
One 7 setter @ 25000
Cost of one sofa 25,000 =$312.5
Total costs 13,200 =$165.0
11,800 =147.5


Revenue = Total sales – Total costs



My profits are well utilized by re-investing back to the business and paying of my employees which is very crucial for their work motivation hence enabling them cater for their family needs.

Loan Proposal

My Loan proposal
When awarded the loan I will use it precisely and wisely to ensure that the materials of making a comfortable sofa set are available in time for my employees to embark on work. With enough cash to run the business, the availability of the sofa sets to my clients will be in time and ready for transportation to various hotels and supermarkets in Eldoret and its environs if the need arises.
The loan will come in handy to solve the various financial problems that any business faces. With well planning and utilization of the loan, the amount of returns will be higher than the costs hence making the business profitable.
Apart from that, the welfare of my employees will be well catered and they will eventually take care of their families. The growth of a business is crucial and I will ensure that the general management of the business is effective.

Feedback

3

None

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Loan Info

Project Type

Classic Loan

Disbursed amount

$313.00

Date disbursed

Nov 19, 2014

Repayment status

Late

Projected term

7 months

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Ask Wilbur a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

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  • Wilbur    Feb 2, 2015

    Hello zidisha team, I paid an amount of 1000 shillings on Monday 26th January at 9:15 am and realized that I paid with the number 0721735679 instead of 0708351727. Could you please add the amount to my re-payment amount. Will appreciate was a mistake

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  • Wilbur    Jan 28, 2015

    Hello zidisha team, I paid an amount of 1000 on 26th January 2015 at 9:15 am. Kindly add the amount to my loan repayment

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  • Wilbur    Jan 23, 2015

    Surely Sir Dennis

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  • Wilbur    Jan 22, 2015

    Hello Zidisha fraternity, I would like to reduce the amount of my loan in order for me to be comfort to pay the loan and attain the best repayment limit. Things have been hard on my side and for now I need more time to raise the money needed to complete my past installments. They year had started at a low point with little or no returns. Actually it's the January blues. For my respect of the entire Zidisha lenders and team, I pledge for your understanding as I work extra hard to complete the payment. I hope you will understand and give me another chance to practice investment.. Thanks

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  • Wilbur    Jan 22, 2015

    Yeah I have a problem now but I am trying my best to clear my re-payment sir. What is your advice

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    • Dennis Furr    Jan 22, 2015

      I'm happy to support your decision to extend this loan. It would be helpful and in your interest to communicate problems earlier in the future so your stakeholders have a better idea of this situation. Generally, no news is bad news.

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  • Wilbur    Jan 22, 2015

    Yeah I have a problem now but I am trying my best to clear my re-payment sir. What is your advice

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  • Captain    Jan 22, 2015

    Hi!
    Any updates? Is there a problem?
    Best regards!

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  • Wilbur    Dec 27, 2014

    sincerely I would like to thank the Zidisha team for their entire support. The loan has ever enabled me to purchase high quality materials for making sofa sets. Apart from that, the amount of timber has been increased and there has been ease in making the furniture.
    The purchase has been a milestone as my profits have increased compared to the recent times and I can comfortably pay my employees daily or weekly.
    My neighborhood is a place to be with a scenery of beautiful trees and vegetation with a good landscape suitable for living

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  • Wilbur    Dec 27, 2014

    I would like to thank all lenders for their support in funding the loan. It has been beneficial and has lead to a great expansion of my business from its current state. I believe it will still make a positive impact on the entire business and eventually lead to a great entrepreneurial empire

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  • NetProfitsMedia    Jun 30, 2014

    Best wishes for continued good results for your business and family!

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  • Wilbur    Jun 30, 2014

    I just paid my last Zidisha loan amount and i would like to thank the Zidisha team and fraternity for the far the have brought me.It takes a good team to achieve such.
    I have some future plans concerning the start or expansion of the business.With the available stock, i can reach the peak.I plan to start a new business in the field of Provision of services and I greatly hope that the Zidisha lenders will be on my side.
    Thank you very much

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  • Wilbur    Jun 12, 2014

    Hello Zidisha team, I paid my second last loan on 11th Wednesday at 9;18 Kenyan time.Please check on that, Thanks

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  • sjoerd    Jun 8, 2014

    Really good to hear that everything is successful. Good luck on the expension.

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  • Wilbur    Jun 7, 2014

    so far everything has been successful and it has been a milestone working with zidisha team.It has greatly brought a change of things in my business field.as for now, my stock of poultry is increasing and I plan to expand it soon.Thanks to Zidisha fraternity

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  • Wilbur    May 29, 2014

    hey Zidisha team please kindly show my last payment done on Wednesday 28th at almost 4.00 pm Kenyan time an amount of kshs 1300
    .Will appreciate.

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  • Wilbur    May 19, 2014

    I would like to change my loan re-payment due to the following reasons;
    -There is short-market of my products in the market due to low general circulation of money in the Kenyan economy.
    -The small profit I get currently is scattered to other costs such as rent,fare, and general upkeep.
    Will be glad if you accept my loan reschedule

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  • Wilbur    May 16, 2014

    want to take this grand opportunity to thank all the lenders for enabling me to always exercise investment as i have been able to do the following positives to my poultry flock;
    -quick reaction to outbreak of diseases by easily accessing good medicine and pesticides.
    -expansion of the chicken house
    Thanks lenders, you are all a milestone

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  • Wilbur    May 13, 2014

    Thanks Samuel for your motivation.The pleasure is mine !

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  • Samuel    May 10, 2014

    Dear Wilbur,
    I must admit i love the way you greatly understand your business.
    I wish your continued success in your passion.
    Thank you.

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  • Wilbur    May 9, 2014

    i cant stop thanking the Zidisha fraternity and the team in large for enabling me practice and enjoy the opportunities offered by investment and quickly responding to emergencies like sickness .In regard to that, the loan enabled me to cater for my medical need the previous week in fully because I had no cash in hand apart from the loan .Thanks

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