Sale of home electrical appliances

Entrepreneur

About Me

My name is Michael Ofosu. I am 30 years of age. I come from Berekum in the Brong Ahafo Region of Ghana. I am in a family of three and the first son of my parents. Am married, and have a one year old child .I started my education at Berekum Methodist Basic School and furthered at the Berekum Senior Secondary School. After a successful completion, I went to St Joseph College of Education where I pursued a Diploma in Education. Had my Degree in Education at the University of Education Winneba. Currently I am a Basic school Teacher. Aside my teaching profession
I am into sale of home appliances. I started the sale of home appliances due to the high demand of such goods in my community. Currently I have one store and a warehouse for keeping my goods I hope to expand my business to meet the market demand of my community

My Business

I started the sale of home appliances in the year 2007. I started my business with a capital of about 500 dollars from a loan I secured from a bank. I opted for this business due to the demand of such goods in my community. People had to travel for miles to the cities to buy their home appliances. I found out the need to go into the business because electricity was first introduced to most of the communities around and peoples taste and preference for home appliances rose. I stared the business with one store assistant but now I have four assistants. I have in stock televisions, pressing irons, electric fans, sound systems, blenders, hand dryers, microwaves and other home appliances. I hope to extend my business to include the sale of computers and their accessories’ I will need about 3000 dollars to embark on this business plan. I will use the requested amount to rent new store rooms and add other stock. I hope with Zidisha I will be able to make it.This loan facility will help me employ other assistants thereby creating employment for them to assist in taking care of their wards in school. with this loan I expect to make a prifit of not less than 250 dollars amonth.

REPAYMENT
I will be able to repay the loan from the sale of the appliances I make.

Loan Proposal

I will use the loan amount of 100 dollars to buy more electrical appliances to boost my stock in my shop.i will this time use the loan to buy more kettles which are of high demand since we are entering the raining season in Ghana.i hope to make a profit of about 80% within 2 months.this will help me pay fees ofmy kid in school.

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