Sale of second-hand clothes

Entrepreneur

About Me

My childhood was the best part of my life since i was born in the slums of Kangemi in Nairobi. My dad died in 1996 and this was a challenge to me because by then I was only in class one. I sought counseling from my religious leader who advised me never to lose focus in life and that is what has inspired me in my life. There are many challenges in life but I had to take them as part and parcel of my life. I started this business through the help of my uncle who gave me a loan of Ksh 5000. The culture where I come from is Teso which are the minority people inKenya. My hobby is to play pool table game.

My Business

I want 80 dollars to fund my business whereby 80 dollars will facilitate addition of new stock that costs 8000 kenyan shillings.
I sell second hand clothes. the goods are highly demanded because they are cheap and most people in Nakuru are poor who cannot afford new clothes. I selected this type of the business because its production costs in terms of transportation and market costs is low and the goods sale at high rates. The cost of one bail of clothes is Ksh8000 and the revenue is Ksh12000. I will use my profits to pay for my young brother's fees and use a quarter of the revenue for personal upkeep while the remaining half of the revenue I will use to add the stock of the clothes. s

Loan Proposal

The loan that I am applying for I intend to use it in boosting my second hand clothes business. The business had gone down because I sacrificed a little amount of my my earned profits of December in paying my young brother's school fees in Form one. I want to bring the quality stock that sales best since this season is a low season and customers are motivated with the attractive clothing rather than the ordinary ones that are plenty in the market. I also intend to start another branch where I plan to employ my young cousin who has just completed college to sell for me so as to increase the market share and also earn more revenue from the sale of clothes. With the lone I expect an increase of 25% from the revenue I used to earn before. The loan will help me employ my cousin and the person who will be carrying the luggage to the market daily.

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