Shoe stock boost

Entrepreneur

About Me

I am 31 years old, married still not blessed with a child. Professionally I am an Accountant and part time entrepreneur. Financial constraints is an ever present thing in employment life, so I do small scale business besides to raise extra income to support my other siblings and also get college fee for my ongoing degree program.
I love soccer and rugby and I like financial reports and business news. I started working as a casual employee then enrolled for accounting courses, from that I was able to be employed permanently, I still believe business is the way to go!

My Business

I am selling second hand shoes, I buy in bulk at lower price and the profit margin is good, usually I buy bales 2 bales per week, each bale contains approximately 150 pairs, each bale costs USD37 so by 2=USD74 , I sell each pair at 5USD, so if sell the two bales completely I will make (5USD*300)=1500USD which gives me a good profit margin.
I chose this business because second hand shoes is fast moving and does not go bad, and the business is also flexible in that I am able to juggle it up with my part time studies.
I use the profit for reinvestment into the business,my college fees, upkeep and also fees to my younger sisters who are in high school.

Loan Proposal

When I get this second loan, I plan now to increase the shoe stocks from three bales to six each bale costs 220.211 USD so by 6=1321.266 USD , because of the season I expect a slight increase. I also plan to secure a stall for storage
I will take advantage of the festive season of and ensure I have attractive stocks which can move quickly and massively.
My customer segment actually buy more clothes during holiday season like the one we are approaching. I at times make 100% profit. This time round, I believe it shall be more if I receive this second loan.
I also look forward to ensuring my repayment is 100% on time.
Thank you in advance and happy holidays1

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