Shoes,phone accessories and electronics supplier

Samson

Makongeni, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Samson

Member since

December 2014

On-time repayments

144 installments • 40%

About Me

I am 25year old man married with one child.I was born and brought up at Kiandutu Thika.I studied at Gatumaini primary and later joined Thika high school where i cleared in the year 2009 with mean grade of B-.Due to lack of school fees as by the time was an orphan i approached several companies and worked as a casual labourer to save for the fees.In the year 2010 i had saved $115 which i started a shoes business at Thika.The environment of my business is sorrounded by low income earners so i decided to supply second hand shoes which i purchase at 2.22 and sell between $5.55-8.88.This has an avarage revenue of $350 and costs of $202 per month.In the year 2012 i was able to introduce phone accessories and electronics.This has an avarage revenue of $890 and a cost of $555 per month.This has also attracted more buyers from upcountry and sorrounding towns which has boosted my business.My daughter is now 9months and my prayer and dream is to educate her to the best she can attain.My pass time is spent in business seminars,reading and visiting the less privileged in the society.I also take joy in singing in my church choir.

My Business

My business provides 2nd hand shoes,phone accessories and electronics.The 2nd shoes are in high demand as they are cheaper compared to the new ones.The phone accessories are in demand since low income earners prefer repairing their phones or buying cheaper ones which am able to provide due to low cost of rent and cheaper operation cost.Considering change from analog to digital this year digital boxes are highly in demand and other electrical appliances used to connect.My main costs is purchase of inventory since transport and rent are below 10%.I use my profits on reinvestment and home improvement.My plan is to expand the business to a capital base of $10000 and spread to other major towns especially electronics which are in high demand.Afteq a period of three months,i do channel part of my profits towards charity.This goes towards purchasing clothes and foodstuff for street children.

Loan Proposal

I wish to apply my second loan to increase my electronics.This loan will be fully used on the projects since their is rising demand for these items.This has been caused by digital migration and also high number of fresh employees settling in Thika.I am expecting my profit to increase by 40-50% per week after increasing my stock.This will make me meet my installment with ease and also increase my livelyhood.Thank you lenders for your continued support i will always remain committed.Thank you and may God bless you all