Purchase of stock for my motor vehicle accessories business
Geoffrey
Ruiru, Kenya
100% repaid
Entrepreneur
Name
Geoffrey
Member since
January 2015
On-time repayments
259 installments • 25%
About Me
I am second born in a family of five. I schooled in a primary called Madaraka and later headed for a high school education at ol-joro-orok high school. After high I proceeded for a college education and did a diploma in business administration.
I am a energetic male with a willing heart to succeed.
I love listening to people's advices and ideas and i have never undermined anyone for what they hold or believe. The passion for entrepreneurial dates goes back to my childhood as i used to burn charcoal for my pocket money. This greatly improved my confidence. After college, with my several saving and donation from family members, I succeeded in seating up my own business that deals with motor vehicle accessories. I am an outgoing social person. I love socializing and helping whenever i can even if its through moral support.
My Business
My business mainly entails sale of motor vehicle accessories like seat covers, dashboard sprays, and tints covers. My daily sales ranges from 25$ to 35 $with a profit margin of like 3$. My expenses including rent and electricity bills. The products are usually on demand as private cars are on high demand this days. The choice for this business is that i saw an opportunity in the area I am operating as the middle class is rising. I use my profit to educate my young sisters who are in college and high school as well as catering my expenses.
Loan Proposal
The loan will be solelly be used in purchase of stock worth $100, which includes different dashboard sprays, tinting papers as they are on high demand. The loan will let my business have the frequent asked goods hence tapping more customers, which will inturn increase my profit that i will use to clear my sisters school fees as well as expanding my business.
I am going to raise my profit to 6,5$ as soon as I am funded.
About Me
MY CHILDHOOD LIFE
my name is Geoffrey Kungu Wairimu, a 2nd born in a family of 5 born and raised in a village called kevindo in lower slopes of nyandarua mountains in vast nyandarua county. I schooled in a primary called madaraka and later headed for a high school education at ol-joro-orok high school which are 3 kilometers from my village. After high i proceeded for a collage education and did a diploma in business administration
Just like any other child boy in my village i used to look after cows and help my mother in various farm work. as our land is full of water streams and forest, my friend and i used to swim at the rivers and went hunting every Sunday afternoon as a way of enjoying ourselves.
The passion and dream for entrepreneurial dates back to my childhood life as i used to burn charcoal for my pocket money for which i would save much to even lend to my mother whenever she was in need.This greatly improved my confidence.
HOW I OVERCAME HARDSHIP
After my collage which i went under a lot of hardship due to lack of fees, I was invited by my friend over to Ruiru town as i sourced for an employment.lucky enough i got a contract job with a one micro-finance for a period of 6 months as a direct sales person.
HOW I STARTED MY BUSINESS.
After the expiry of my contract and with my several saving of forty five thousands and donation from family members i succeeded in setting up my own business that deals with motor vehicle accessories. The idea of starting this business was greatly contributed by the survey i did on this business as most people used to source this accessories from Nairobi. The capital was not enough to stock all the necessary products.
UNIQUENESS OF OUR LAND
our land is unique as it has vast thick forests and river streams. It is very fertile as we almost cultivate all staple food though in traditional ways hence not enough for commercial purposes.
OUR COMMUNITY CHILDREN'S DREAMS
our community believes that education is the key to life and our children are dreaming to be the next generation leaders, doctors and the great business people in Kenya.
MY UNIQUE HOBBY.
I am an outgoing person who like socializing with people. In fact i have a programmer for mentoring our high school student from my village which happens once per term.
My Business
My business mainly entails sale of motor vehicle accessories like seat covers, dashboard sprays, and tints covers. I started it with a capital of fifty five thousand shillings though it was not enough to stock every product. It did not pick up very well as most people did not know about it. Though my marketing skills and referrals it is now experiencing some growth in term of sales . At first is was very hard as i would go for even two days without a sale but now My daily sales ranges from two thousand to three thousands five hundred shillings a day with a profit margin of like three hundred shillings a day. My expenses including rent and electricity bills. The products are usually on demand as private cars are on high demand this days.
Loan proposal
The loan is intended to buy more dashboard sprays( variety), tint papers and seat covers as are on high demand this days. I also intend to use the profit gained to expand my business and various other motor vehicles spare-parts.
Loan Proposal
the loan will be solelly be used in purchase of stock worth $100, which includes different dashboard sprays, tinting papers as they are on high demand. The loan will let my business have the frequent asked goods hence tapping more customers, which will inturn increase my profit that i will use to clear my sisters school fees as well as expanding my business.
I project my profit to raise to six hundred and fifty shillings once funded
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Feb 3, 2015
Repayment status
On Time
Projected term
12 months
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