Restocking my shop

Entrepreneur

About Me

I am a Kenyan aged 35yrs, was born in Lower Nyakach, Kisumu County. Am married and God fearing man .I dropped from school in form three due to lack of school fee? This was after my mother died and nobody was ready to support me .I started some other businesses but couldn’t prosper due to lack of capital. This was right after dropping out before getting married, but later, I was desperate that couldn’t make it by myself. Six years later I got married to a certain GOD loving lady who was also ready to support me in my simple businesses I was carrying out. Am a very social, jovial, simple, friendly and hardworking. So now, am concentrating abit in these businesses, but whichever challenges I undergo, I hope I will maneuver, to make me achieve the goals I have put forward in my LIFE.

My Business

Well, I started shop business six years ago, it has been quite challenging, like I said before, there are a lot of ups and downs that the going couldn’t just move smoothly, just for the fact that I was operating alone, and the capital I had reduced. But since 2010 after getting married, I’ve tried moving but still can’t move through, coz all the corners are closed, so this is why am asking Zidisha to give me a hand, to support me move. The fact that I am God fearing, jovial and friendly, this makes me be close to people, and I realized that so long as I get funded or have a good capital, I hope my business can move smoothly despite the challenges I undergo in doing this.
I operate with a minimal capital thus lack stock, but my daily sales are $ 26, the expenses from restocking are $17, while I get a gross daily profit of $9. This figure translates to $780 sales, $510 for expenses and $270 for profits. I use the profit to paying school fee, rent and personal upkeep. With reliable income and good stock I can service the loan and still remain with surplus to save.

Loan Proposal

First, I must thank Zidisha for giving me an opportunity to place my first loan application. I have been operating a shop for over seven years and have gained enough experience in this field. Shop business requires frequent stocking up to enable customers get their need in one stop. Restocking up requires adequate capital. I want to increase my stock and include fishing gears in my shop. These fishing gears are in high demand especially during rainy seasons which runs between March to August. Currently am relying on my customers to deposit more than half- price of the fishing gear they want, I collect the same from as many customers before I go to purchase the gears and resell to the customers who pay the balance on collecting their respective gears. This often takes long and reduces my authority to market the product as the customers have control over my merchandise.
When I have ready fishing gears, I will attract attention of customers and make immediate sales with better bargain. The restocking will help me attract and maintain many customers, build trust thus make my shop the better choice for the people.

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