59 weekly installments • 100%
My name is Betty Mulatya. I am twenty eight years old. I am the second born in a family of five. I was born and raised in Nairobi but I currently live in Malindi because of work. I now work with Coast properties in Malindi and volunteer at the youth empowerment centre there. I also work with Ghetto Potential Trust in Kibera, Nairobi. I have a passion in community development and entrepreneurship and this is the reason why I work with community based organizations and operate a business respectively. I studied business management at the Management University of Africa in Nairobi.
My business is called Alien Youth Designs. I chose this name based on the Book of Joel 2 in the Bible.
I registered this business in 2011 but began operation in 2013.At first I sold my clothes and accessories to my friends and neighbors before proceeding o put it online on Facebook (https://www.facebook.com/alienyouthdesigns?fref=ts)
I started this business with the main emphasis of solving a need, offering affordable clothing and accessories to men, women and children. My vision for this business is to be able to design my own label for clothes and other accessories for men, women and children that they can identify with and be proud to be associated with it. Nowadays, finding elegant and yet stylish clothing and accessories that is also affordable is not easy. My goal is to ensure that this is possible and that people may realize that you can be stylish and remain elegant and decent. I decided to start with selling handbags and as I grow include clothes, shoes and other accessories.
Apart from fulfilling my passion as an entrepreneur, my business meets my daily needs and also allows me to read a lot about the clothing and textile industry.
I work with Coast Properties, a real estate agency in Malindi. I am also a part time content writer. These avenues assist me in earning an income.
My business also allows me to earn an income. Currently, I am selling unique and affordable bags and accessories on Facebook. The link to the site is: https://www.facebook.com/alienyouthdesigns?fref=ts
My customers agree that my products and unique and affordable. I know I am ahead of my competition because my products sell within a fortnight. The risk that my business faces is marketing but to counter this risk, I advertise by word of mouth and also rely on my skills as a content writer to make my site popular. My monthly costs are internet, rent and food. My business is indeed profitable because my business model is such that 60% profit is reinvested in the business and its operations. I started the business with US $ 340 and made a profit of US $ 190. Last month (February), I made a profit of $ 200. I would like to get a loan so that I can increase my stock and offer more products.
The trend right now is wearing chunky jewelry with simple but elegant clothes. My clients are looking for classy affordable jewelry that speaks for them as soon as they enter a room. I have done my research and one of my very good friends in Tanzania introduced me to Cassandra, a lady in Tanzania who sells amazing jewelry at an affordable price. Here is the link to her website.
I have an uncle based in Dares Salaam. I have already talked with him and he is willing to transport the jewelry using a courier bus. I am also planning to continue selling ladies bags. This is why I need 1033 USD
-Hair accessories= 107
With this money, I expect my profits to increase by thirty percent.
I look forward to posting the results of this loan.
Jan 16, 2015
Cost to entrepreneur
Lender interest: $1,077.62 at 4.36% annual rate over 7 months = $27.36
Service fee: $31.38