Stock addition for my clothline business

Gabriel

Lower Kabete, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Gabriel

Member since

February 2015

On-time repayments

6 installments • 50%

About Me

Am Gabriel Ochieng,am a degree holder in Bachelor of commerce,finance option.Since i was young i always dream to have my own business so as to employ others and to be my own boss.I tried all my best after clearing University to come up with a small clothe line business i succeeded through the help of my friends and family who helped me to raise little capital for a start.The business was very challenging,i made a loss in three consuccative months i was in a point of abandoning it but i was motivated by friends not to quit.Some of my relatives were viewing my act of opening a cloth line business as a way of failing in life because they believe in being employed but i persist till now having a lot of hopes that one day i will be among the best entrepreneurs in our country.During my pastime i play football as way of keeping fit.

My Business

I deal with latest designed men clothes which are in fashion,i usually increase my stock depending with the demand and seasons.Some times you find that there are certain months that the demand is very high,i have to increase stock so as to prevent running out of stock because i can loss my customers.Also there are certain seasons that affect the business especially during the first months of a year.I came up with this kind of a business as a joke because i used to buy my own clothes and then you find that a friend is interested in it so i have to sell it to him at a profitable price that's when i decided to open this kind of business.Since it is still growing i can not say that i incur a lot of cost,but the costs that i incur are legal fees cost,rental cost,transport cost and purchasing cost.My revenue results from the sale of clothes.I normally repatriate my profits in growing the business.

Loan Proposal

i will buy clothes in bulk so that i can have enough stock,this will help me to retain my customers and also to be competitive.when i buy clothes in bulk i get price discount which is to my advantage because when sell them i get profit.Unlike when i buy clothes in small quantity its hard to get price discout.