Sales of handkerchiefs and slippers to offset my school fees

Theophillus

Dansoman-accra, Ghana

9% repaid

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How it Works

Entrepreneur

Name

Theophillus

Member since

February 2017

On-time repayments

107 installments • 22%

About Me

Theophillus Duah is my name. I am from Dansoman-Accra and stays at the same place.
I was born Ghana parents. I started school at St. Martins international school - Dansoman through to the JHS, where i wrote and had distinction in the Basic Education Certificate Examination . Life after school was very hard because i was living with my uncle in the city who also struggles for livelihood. My parents have eight children and i am the second of the eight. Due to the financial difficulties on the part of my parents, my uncle took me to the city of Accra to take care of me because of my academic exploits. But when i completed junior high school and my uncle got married and started producing kids, his attention shifted from my side because he was in financial difficulties. This lead me into hawking on the streets of Accra to earn live hood. Honestly, the job is not easy but i got money to finance my secondary education and has pushed me higher to the tertiary level. There was a neighbour who bakes and sells bread so i told her my plight and she agreed to get me some bread to sell and earn commission on the number of bread i sell every week. I got enough money from the sales to pay my admission fees into the university. When I got to the university i decided to find something doing in order to get money to pay my residential and academic fees so I quickly started selling slippers and handkerchiefs to my fellow students to get money for myself financing. I am a university student and i always think about how to increase my market share and raise revenue to sustain my business. Payment of my resident and academic fees has not been a burden because i generate enough profit to take care of that.

My Business

l sell slippers and handkerchiefs to my fellow students to gain profits to finance by education. The demand for these goods on campus are very good and high. Student needs a very simple slippers to put on when they are at their hostels because it is easy to wear and convenient. I chose to do this business because it is very good and give me much money to pay for my educational expenses notably my redential and academic fees. I reinvest the profits into the business and pay off my outstanding educational fees. The have for buying the handkerchiefs is not not higher compared to the slippers. I need about 100 dollars to buy the handkerchiefs and 300 to 400 dollars to procure the slippers. I can generate a profit margin of 40 dollars every week. The profit will be used to repay the loan every week.

Loan Proposal

The loan would be use to purchase more handkerchiefs and slippers. The sales of these goods and products would afford me money to take care of my expenses in school. The payment of my school fees and my residential fees would give me the chance to partake in all school activities. I need about 400 dollars to get these goods. The money when given will increase the size of my business so that more revenue could be generated. Thank you.