Purchase of mobile phones

Entrepreneur

About Me

Daniel Frimpong is my name, I am twenty-four years of age. I am a boy born to Ghanaian parents who have nine surviving kids and i am the third child. I come from Abrepo-kumasi in the Ashanti region of Ghana. My house is located just behind the County hospital and close to Kumasi Girls Senior High School. I attend Asem boys Junior High School, where i took my Basic Education Certificate Examination and passed with distinction. When i completed JHS, i learnt how to repair mobile phones to raise money to cater for my further studies because the size of the family was very large and the hardship on my parents was very enormous. I later asked them for a small capital to procure some mobile phones and sell. This became very necessary after many people were consulting me when buying mobile phones so i thought it wise to be in that business and it has really helped me sort out my financial problems. I carried this job to the university campus because students buy phone more regularly and some also come to me for phone settings, Internet settings and many more. I also repair spoilt phones for them at a fee. I like reading and preaching the world of God to other colleagues and people around the school campus and my community.
I am a second year biomedical engineering student at the Kwame Nkrumah University of science and technology(knust) in kumasi.Aside my academic work, i sell phones on campus, i deal in second-hand mobile phones and i finance my education with the proceeds that accrue from the business i do on campus. Being a student entrepreneur has broaden my knowledge on how to start a business as a result of the numerous business seminars i have attended and am looking forward to setting up my own business after school.

My Business

I sell second-hand mobile phones at moderate prices to students who cannot afford highly sophisticated and the most expensive brand new phones. Student prefers these quality slightly used phones to the expensive one because it saves them money for other expenses. I chose to do this business because i realised the dividends from this business would be massive and as a phone repairer myself people were always searching for on phone related issues so it was prudent to sell some and raise revenue for my upkeep. I generate enough revenue from the business which i used to pay for my tuition and buy books.I also reinvest some of the revenue to expand and grow the business.

Loan Proposal

I will use the loan to purchase mobile phones and other accessories like earpiece and phone covers to sell and generate enough revenue to finance my education. I need 420 dollars to make this a success and this will increase my weekly earnings and expand my business as the revenue will be reinvested to grow the business and some use to defray my university education fees.

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