Adding M-Pesa services & branding for my general store
Francis
Nairobi, Uthiru, Kiuru 87., Kenya
100% repaid
Entrepreneur
Name
Francis
Member since
August 2014
On-time repayments
68 installments • 85%
About Me
I was born in Central province, but grew up in Rift Valley in a duty town called Gilgil. When growing up, grazing my parents' cows, goats and sheep was the order of the day as long as it was not a school day. Grazing was being subsituted with going to the farm where we used to grow maize, beans, potatoes and peas. My father used to run a retail shop and occasionally he would let my brothers and I run it. The greatest hardship I went through was lack of school fees especially after I joined high school. But I used to sneak back to school to study even after being chased away by the headmaster due to lack of fees. This gave me a determination that I must work hard at all the time and ensure my children don't go through such a difficult life. Being exposed to running my dad's shop gave me the urge to start mine. And I am glad I am running a shop today outside my formal employment. My eldest daughter who is 11 years old wants to be a doctor when she grows up. My son who is 4 years old wants to become a pilot. The last born daughter is 6 years. My hobby actually is reading materials related to running a business.
My Business
My business goes by the name Bag & Bags. The business sells new and second hand bags and clothes. It is located along Kiambu Road.
The objective is to be a one stop shop for busy shoppers who want to look good but at an affordable price. The designer bags are meant to make sure customer gets enough space to put his or her stuff but at an affordable price. This calls for stocking of smart products especially for the common Kenyans citizen who either has no time or enough cash to purchase items from the big supermarkets in shopping malls.
I ensure the customers get the items they need at affordable prices, best quality and quantities that match their pockets. Since its establishment 4 years now , the shop has attracted a huge number of customers and this is on an upward trajectory.
My plan is to expand it even further and introduce new products/items which presently are not on the shelves. But stocking of the products is primarily demand driven. After being funded by Zidisha, I introduced M-Pesa services (Mobile money service) which is doing very well. The shop is also now well branded. But with increasing sales, I have come to learn I need to buy more things to serve customers better. I need to expand the variety of products I sell. I need to stock items which customers have been asking for yet I don't have.
Loan Proposal
I will spend Kenya shillings 6,000 to brand my business, including signage as a way of advertising what I deal with. The business is not branded yet and even there is no name at the entrance. If this is done, passerby will easily notice its presence and be attracted to get in and probably purchase one or two items. Also listing some of the flagship products at the door will greatly help. For the balance, I will pay it as a deposit to Safaricom agents to be enlisted as an Agent for Safaricom Mpesa service provider (agent). This is a booming business in Kenya and I have been receiving very many inquiries for the service. The service involved transferring money via mobile technology for your customers ie, lets say sending money from the customer at the shop to his parents in the rural village. This remains one of the key innovations that are touching the lives of ordinary people in huge ways in Kenya. It is imperative that I have this service.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$261.00
Date disbursed
Jun 30, 2017
Repayment status
On Time
Projected term
2 months
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Summary
Amount repaid
$261.10
Amount remaining
$0.00
Date repaid
Sep 12, 2017
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Jul 11, 2017 | $28.65 | Jul 9, 2017 | $28.65 |
| Jul 18, 2017 | $28.65 | Jul 18, 2017 | $28.65 |
| Jul 25, 2017 | $28.65 | Jul 25, 2017 | $28.65 |
| Aug 1, 2017 | $28.65 | Aug 2, 2017 | $28.65 |
| Aug 8, 2017 | $28.65 | Aug 10, 2017 | $28.65 |
| Aug 15, 2017 | $28.65 | Aug 15, 2017 | $28.65 |
| Aug 22, 2017 | $28.65 | Aug 22, 2017 | $28.65 |
| Aug 29, 2017 | $28.65 | Aug 29, 2017 | $28.65 |
| Sep 5, 2017 | $28.65 | Aug 29, 2017 | $0.99 |
| Sep 5, 2017 | $27.66 | ||
| Sep 12, 2017 | $3.28 | Sep 5, 2017 | $0.99 |
| Sep 12, 2017 | $2.29 | ||
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