Shoe stock boost

George

Nairobi, Kenya

100% repaid

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How it Works

Entrepreneur

Name

George

Member since

October 2014

On-time repayments

230 installments • 35%

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

I will increase my stock which has gone down, my target is to buy 600 pairs each at
USD0.54466 and sell at USD1.63399 to USD2.72331 depending on the bargaining power of the buyer, averagely if I successfully sell the whole stock I will make a profit of between USD653.80.392 and USD1,089.32. after paying the transport and other charges, this will help me grow my business and pay my college fee as well.