Second-hand clothing & footwear business

Joyce

Nairobi, Kenya

Funds disbursed

$0 to go

100% funded of $9 goal

0

days left

Entrepreneur

Name

Joyce

Member since

June 2017

On-time repayments

1 installment  •  0%

About Me

bout Me

Am Joyce Wambui Hannah, a second born in a family of three, my mum is a single mother who struggled all through to give us education, I remember in high school me and my elder sister we could be sent home for school fees occasionally and we could go picking tea to get money to take us back to school.
After high school a well wisher paid for my college fees where I studied business administration.
I got a job in a community based organization, but it later collapsed due to poor leadership.
I got married while still working at the CBO,and after four years in marriage when I stopped working my younger son developed adenoids which depleted my savings as my husband stopped being supportive. That's when I decided to quit the marriage and look for a job to support two kids and my son's treatment, I got a job in an outpatient clinic where I have been working at the customer care desk for four years now.
The job helped me cater for my son's treatment, he is fully recovered now and both my kids are in school.
In December last year I decided to start a side hustle since the salary I get was never enough to support us and started selling kids second hand shoes.
From the income I got from selling kids shoe's I was able to buy a bale of second hand trench coats in March this year to boost my income.
I come from the Kikuyu community and one thing I boast about ur culture is,that we are well known for business.
My daughter wants to become a doctor while she grows up and my son a pilot,he always boasts of how he will buy his mum an aeroplane.
My job takes much of my time but anytime am free,I spend with my kids having fun out in a park.
I also love community participation and assisting the less privileged as I was also helped.

My Business

I currently sell kids second hand shoes,to my friends and neighbours,I initially started this business after I realized how many times I bought my kids shoe's and noticed it also applied in other families as young kids barely know how to take extra care on their shoes.
I also incorporated second hand trench coats after visiting my village which is near the abadares and it's very cold,my mum assists me in selling in the village as I also sell to my friends.
I chose this business after doing a research and realized that second hand clothes and shoes are currently on higher demand than new ones as they are more pocket friendly.
For each pair of shoe I buy it gives me 100% profit or more depending on the customer, I.e,I normally buy them at $1 and sell between $2 to $4.
For the trench coats I get them at $2 and sell between $3 and $5 again depending on the customer.
The profits I have gotten from this business have all been directed to reinvestment as I started the shoes business with very low capital as my salary is barely enough to make a saving.

Loan Proposal

Buy a bale of second hand dresses at $250
and another one of second hand chiffon tops at $180 which are currently on higher demand.
This will give boost my income and also offer employment to one person, the income generated will be reinvested to the businesses for six months which is my target to be self employed, and hence giving my kids better life and education that I got.
My profit will raise from $20 to $45 in a week

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$9.00

Date disbursed

May 31, 2018

Repayment status

Late

Projected term

1 week

Lenders

Benjamin Kniaz

Boston, United States

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