Purchase of shaving machines for my beauty salon
Cassius
Nairobi, Kenya
100% repaid
Entrepreneur
Name
Cassius
Member since
August 2014
On-time repayments
61 installments • 85%
About Me
My name is Cassius Sifuna Wamalwa ,and I am 47 years old married to my lovely wife Gladys Apondi and blessed with two gorgeous daughters Cindy and Brenda aged seven and one year respectively. I am a holder of a Diploma Business management having graduated 1997 from Kenya Institute of management in Nairobi .After my graduation from college I decided to venture into self employment since getting formal employment proved a mirage in spite of my qualifications, I just could not land a formal employment however hard I tried. It therefore dawned on me that self employment was my only ticket out of the situation. I must admit that it has been challenging and rewarding at the same time but mostly I must admit it has been challenging given that I started with very little savings which I had accumulated while in college from my pocket money. Being a first born in a family with a single mother my father having died while I was a toddler it meant I had to take care of my younger siblings’ education because my single mother was overwhelmed and she could not manage it alone. I had to take the leading role of educating and caring for my younger brothers and sisters at a young age. I had to be the father figure to them, and had to quickly look for ways of making money, and to this end I set up my first barbershop in a makeshift structure by the roadside in the slum where I was living then called Kariobangi north. I was the one doing the shaving. It was not easy because I lacked the requisite licenses and could not afford them, so I had to endure constant harassment from the city authorities which made it near impossible to operate. But I never lost heart. Through determination and hard work I rented a semi - permanent structure in the same neighborhood slum which with time grew, and enabled me to have extra income ,and to employ one person to help with the shaving. It took me around fifteen years to finish helping my mother in educating my five siblings, then I married to raise my own family. A rewarding experience I always cherish. My wife and I decided that it was time to move to a better business premises and to expand the business and improve on the services provided. So with her help and a small financial loan from her friends and table banking group, we managed to set up a unisex saloon in Buruburu shopping centre Nairobi where we currently operate our saloon christened “Queens and Kings parlour” .My wife who is a beautician by profession runs the ladies side which specializes on issues to do with ladies hair and beautification, while I am in charge of the men’s side. However the saloon lacks enough shaving machines since the money we had only catered for shaving seats, and paid for the deposit and rent for the barbershop and a few items for hair care. That is the reason for joining Zidisha.
My Business
My unisex saloon specializes in hair facials, waxing, hair care, pedicure and manicure. I have employed three barbers , two beauticians, two hair care ladies in total I have employed eight workers, three gentle men, one who is an orphan of 19 years and five ladies, including my wife whom I pay on commission basis. I am hoping to employ them on permanent terms once the business grows. The saloon has been in operation for eight months now having grown from a humble barbershop in a semi permanent house in a lower class neighborhood to a permanent premise at the middle class suburb where we currently occupy. My customers being mainly middle class workers who work in the city centre but live in the neighbourhood estates, demand excellent service from us and we strive to give them the kind of service befitting their stature. This sometimes puts a lot of pressure in us to work harder and it calls for new innovations and introduction of new products to keep the business ahead of the competition. My dream is to have an executive barber and beauty centre in the next two years.The demand for my salon services is there since the clients that we serve are middle class who are ready to pay a tidy sum to be smart and to look good and professional.the challenges faced by such a business include lack of clients,theft of beauty products by dishonest staff members.Lack of proper business records and poor marketing strategy.We have countered these by employing trust worthy workers with proper referees,we keep proper records,and our marketing strategy is reviewed every week.My typical monthly costs are as follows; allowances and commissions $ 405,electricity and water $ 90, rent $ 70. totalling to $ 565 The revenue is as follows; the gentlemen s' section $ 305,while ladies' section is $ 545 totaling to $ 850 .Leaving a profit of $ 285 from which I will pay back the loan from zidisha and be able to expand the business.
Loan Proposal
I will buy shaving machines for Barber shop and for the salon.it has been a challenge to shave the many clients who keep streaming in our barber shop and the salon asking for shaving services.this is because we have only two shaving machines.Hence with this loan, I will add another two shaving machines,thus bringing the total shaving machines in the salon to four.this is a good number for a start,and it will help in shortening the waiting period between shavings.Most clients are turned away when they come to the salon and find the whole shaving area parked with people waiting. By increasing the number of shaving machines,the waiting time will be cut by half.The potential of this is that it will be possible to serve all customers who come ,and it will be possible to therefore increase the income by 20 percent in the subsequent months.The profit margin is also expected to expand by 20 percent,hence an improvement in the overall income of the business.I therefore appeal to lenders to help me.Thank you.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$97.00
Date disbursed
Jan 13, 2015
Repayment status
On Time
Projected term
11 months
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