Rice , maize & wheat flour for grocery shop

Paul

Springs, Kenya

100% repaid

Entrepreneur

Name

Paul

Member since

January 2015

On-time repayments

220 installments  •  35%

About Me

I am 31 years of age and single, not having a family yet. will work on this later when all works well and am financially stable.

I was born and raised in Kari Muguga, I attended primary and secondary school education from the years 1991 – 2002. I lost my father in the year 1994 while in class for in primary, my mother a nursery school teacher worked hard to take me through education.
In finishing high school in the year 2002 and at the age of 18 years, I wouldn’t join campus through government sponsorship as I was 2 points below the cutoff points. This was after the results were released in the year 2003. For me to get to campus I therefore had to get some job and work my way to campus as a privately sponsored student as I still had qualified to join campus.
I travelled from the urban area to a rural area Kericho, to find work in a tea factory. I managed to secure a job at Litein Tea factory as a cleaner, which I did for 18 months, I took my self for driving lessons (part time) and passed the test in 2004 getting a driving license. A friend then invited me in Mombasa in the year 2008 and secured me a driving job in a car rental business Pervig Car rentals, which I worked for two years and later joined Avenue prestige car hire which I worked for another two years. I mainly drove clients to the North coast ( Malindi , Kilifi, Lamu) , south coast (Diani, Kwale, Likoni) other than that also to Nairobi, Voi and Wundanyi ,Taita. I loved the places I was a tourist too in my country Kenya. I also picked clients from the Moi international airport in Mombasa and took them to various hotels they had booked. As much as I liked the adventures I still thought of school .
I therefore decided to find a place that I would have a good environment to do my studies and found Moi university Main campus Eldoret to be the right place for me. I therefore had to travel to Eldoret and find a place for me to live, a job to do too so that I could be able to take care of myself. With my saving I managed to secure a room and after a week of searching I found a job as a retail shop attendant. I worked for one year and with the amount I had raised in my saving $437.00 bought the shop from my boss who was travelling abroad. The same year I too applied for a course Business Management degree and was admitted. I am currently in my second year just finished the first semester waiting to start the second semester on 11th May 2015 to August 2015.
I didn’t think I would get to wherever I am now, in campus and also own my own business. I am hoping to be in a position to assist my mum as she is about to retire, just as she took care of me and show her the worth of investing in me.

My Business

My retail store deals with the purchase of inventory at wholesale and selling in retail to the student population in the campus not only are my services extended to the students but also to the teaching and non teaching staff in the campus.

Location and customers
My retail shop is located next to the main stage and here my customers surround me in a radius of 4Km. the area is densely populated as the students live in hostels some of storey buildings. And it is from this main stage shops that the same customers come to buy their necessities. The campus has a population of 50,000 students when in session and a working population of approximately 6,000 teaching and non teaching staff.
The campus has two graduation ceremonies that is in August and December every year and during these times the activities in my retail shop are high with so much traffic that increases the daily sales volume resulting to high returns in terms of profit.

Competitors
As for competitors I have several with one with supermarket, but this encourages me to work hard to get to that level. Students too are in the business some offering a wide range of services from beauty to computer services and shops. To be above my competitors quality services provided to the customers is essential to have the customers coming back for more.

Products and services
My business sells or offers the following items cereals ( maize, beans, green grams, peas, and rice), foodstuff( bread, cakes, cooking fat, maize flour, and wheat flour) , others (scratch cards, sweets, salt, and sugar) just to mention but a few. These are purchased in bulk hence enjoying economies of scale and selling at a margin in small quantities in order to make a profit for my self so as to cater for my expenses and ploughing back a certain percentage in the business.

Monthly expenses and profits earned
My retail shop expenses are as follows
Rent $ 32.00
Electricity $ 6.50
Water $ 5.40
License $ 43.00 (yearly)
Salary $ 70.00
Misc expenses $ 20.00

Monthly income $ 600.00
Less expenses $ 134.00
Net Profit $ 466.00
Inventory $ 391.00
Tuition fee $ 75.00
From the net profit I use 12.90% to save for my tuition fee and 87.10% in purchase of inventory.

Since joining Zidisha my profits have risen by 24% and am hoping this will continue increasing.

Loan Proposal

If given this loan I would like to add the following inventory:
My spending on the purchase of inventory will be as follows with the expected profit in each item
1. Sugar 100kg spend $43.00 Profit $10.75

2. Wheat flour 1kg bundle spend $16.13 profit $3.23
½ kg bundle spend $10.75 profit $2.69

3. Maize flour 1kg spend $13.98 profit $2.69
½ kg bundle spend $8.60 profit $1.83

4. Rice 100kg spend $32.26 profit $5.37

5. Scratch cards spend $21.51 profit $2.69

6. Coca-Cola Soda ½ litre crate spend $7.52 profit $5.38
2 crates of Soda 300ml spend $10.21 profit $5.27

7. Sweets(lollipops etc) spend $21.50 profit $4.30

8. 3 trays of eggs spend $9.68 profit $4.84

9. 2 bags of maize 90kg spend $58.06 profit $38.71

10. 1 carton of 1kg tins of cooking fat spend $15.65 profit $5.45

My expected profit percentage is at 34% of the loan. Together with the inventory I posses currently I know I will be in a position to maintain my daily profit at $25 or get to make $30, I know I can achieve this from the number of new customers I have already bagged and those I am hoping to bag.
Thank you

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$277.00

Date disbursed

May 7, 2015

Repayment status

On Time

Projected term

3 months

Lenders

N

nani

austin, United States

Q

Quomar

Żmigród, Poland

B

BRWorthington

San Francisco, United States

Ishaque

New Jersey, United States

investor

Candiac, Canada

J

JLewe

Atlanta, Georgia, United States

Johnny

shanghai, China

AndreaBravi

London, UK, Canada

F

faical

Cologne, Germany

T

traderjohn

Baltimore, United States

Pere

Barcelona, Spain

S

SamTom

Carindale, Australia

T

thejacobnorton

Jubail, Saudi Arabia

P

patrickberkeley

Burlington, United States

TheWhiteCat

Surrey, United Kingdom

athomas

Chevy Chase, United States

G

GoldenPete

Christchurch, New Zealand

amovida

Central valley, ny, United States

D

DThirteen

Miami, United States

O

Oscart

Edmonton, Canada

Bruno

São Paulo, Brazil

Eduard

Dnepr, Ukraine

sarna

Toronto, Canada

Tom44

Vancouver, Canada

neocodesoftware

vancouver, Canada

CA

Chris and Janet

Portland, OR USA, United States

isabelv

Barcelona, Spain, Sweden

Erika

Calgary, Canada

iamdaimo

London, United Kingdom

mojobob

Hayward, United States

cman8888

Philadelphia, United States

J

jcappel

Toronto, Canada

E

elourenco

Porto, Portugal

L

lobotommy

OSLO, Norway

Walterlo

West Hollywood, United States

M

Malibu

Westwood, United States

D

drorm

United States

G

geoff

United States

T

tommychheng

san francisco, United States

Paul Buchheit

Mountain View, United States

A

allie105

United States

M

Michi

Switzerland

K

Karpet

Faroe Islands

S

sanfransec

San Francisco, CA, United States

Anu

India

R

RonEddy

United States

S

SaraNT

United States

I

idris

United States

S

SCHAC

Switzerland

N

Nicolaas

Doha, Qatar

A

adamdreaming

United States

SuperMario28

Cudahy, United States

S

Symoneous

Netherlands

R

Ruj-ura

Thailand

Mike and Jacqui

United Kingdom

KM

Kirsty M

United Kingdom

Haim Si

Mexico, Mexico

Dave Bogard

New York, United States

Tsay

Taipei, Taiwan

TM

Theo Mbise

Switzerland

Family Mueller

Petershagen, Germany

N

Niels

Berlin, Germany

Kriszti

Houston, TX, United States

M

Mathias

Cologne, Germany, United States

S

Sharon

United States

JG

John Gobok

San Francisco, United States

HC

Howard Cheng

New York City, United States

Cassian Opara

London / Dubai, United Arab Emirates

MW

Matt Willis

United States

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