Selling of second hand clothes

Entrepreneur

About Me

I was born in Bungoma county and grew up as an orphan. I attended Mpeli primary school with the help from church grants and donations. With the help of from my church, I was able to advance my studies to High school still with the church's support and later on worn a scholarship with Jommo Kenyatta Foundation. This scholarship saw me through my high school studies. Upon completion of my high school studies, I resolved to start a business that would at least generate some income to support my younger siblings. I opted to venture into selling second hand cloths and this was driven by the fact that most of the people in my village are poor with no constant income so they could only afford second hand clothes at a lower price. The majority of the people in my village are uneducated, poor and depend mostly on small scale farming as their main source of livelihood. My hobby is making friends and this has contributed immensely to the growth of my business as I am able to create a new target consumers for my goods with much ease.

My Business

My business, generally involve selling of second hand clothing. I started the business in the year 2013 with the little capital I had saved from doing manual work at people's farm. My first capital totaled to about two thousand shillings but this has been growing with time as I invest most of the profits generated. The business currently is located at Egerton at Njoro Village. I mostly deal with clothing for the youths both male and female. Most of my customers are the students and this led to me selecting this area of operation since students often have a preference of style and fashion and the emerging trends that comes with fashion. Iam able to meet their fashion tastes by supplying exactly what they demand since most of the unique designs are found in the second hand clothes. In general, I buy a bail of second hand clothes at about 12000 and sell it at approximately 18000. My of the profits generated are ploughed back into the business to strengthen my capital base. This re invested has enabled me to advance as at the moment the business is picking up and I believe with an additional fund, it will be stable as I increased my stock.

Loan Proposal

Upon receiving my loan, I plan to add my second hand clothes stocks, $33 and venture into selling second hand ladies shoes, $30. The ladies shoes have been on demand over time therefore investing into this venture is promising and very profitable. I would like to diversify my dealings even to handle trousers since currently I deal with shirts and t-shirts only. With the additional stock and product diversification, I anticipate an increased profit of about 4,000 form the sale of the stock.

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