80 installments • 53%
I am a 25 year old born in the village of Kadel sub location,Wich lum location,Rachuonyo north district. Homa bay county. I am a second born in a family of three. I have studied up to a diploma level. The reason unto why I started this is because there was rampant unemployment among youths and whenever I tried to seek for job opportunities little did I get positive response therefore I decided to employ myself after getting some little capital from a relative. The business idea was reached at after thorough survey of the demand of used clothes being that their prices are affordable compared to the newly introduced clothes on market. My business helps me in running daily expenses likewise to extending helping hand to the needy community.
Am currently operating a stall which i established with the profit i got from the previous loan i took, however, in small scale business of selling used clothes (second hand) in kayole.I am currently trading some fellow women who introduced me to some Uganda materials which i tried and found very marketable and trading to my customers. Through these have managed to get the materials at a very bearable and considerable amount which when i sell to my esteemed customer thus have not contradicted or bargain the selling prices.However, have managed to employee two people to be selling the stock in the stall as i go for the materials, have managed to save some money which i am planing to add some to purchase a piece of land, have increase my stock by adding the number of bale in order to fit my customers demand and easy maintaining them with new pair of clothes whenever they pay me a business visit .However, by the new strategies i came up with have managed to reach some customers whom their estates are beyond means of transport and with a lot of insecurity hence increased my sales tremendously, one person( a girl) to be walking from door- to- door selling the clothes. Secondly, the profit gained from the sales of clothes may also boost the repayment.My customers prefer my clothes because of my affordable price and customary ethics.My business thrifts because of close business friendship and constant maintenance of good products to my esteemed customers. Through these loan, thus i will use half the loan in purchasing of the more bales to maintain my customers and the remaining amount i will use to add the materials for the new customers and increase the stock of materials for the new market.
Its my commitment and dedication that if the loan may be funded then i intend to continue selling clothes but in a stall that have acquired in kayole, thus with grate intention to increase my profit and live-hood.
As per the market and new strategy have come-up with i believe i will increase my sales by 55% these year/ supply to my customers will be maintained by giving them new products in the market.
Jan 20, 2015
Cost to entrepreneur
Lender interest: $197.30 at 6.38% annual rate over 1 month = $2.11
Service fee: $1.23