Stock for my cereal shop

Steven

Ruiru, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Steven

Member since

January 2015

On-time repayments

53 installments • 64%

About Me

I am 25 years old, and grew up in Kiambu Town in Kiambu county where I attended Primary school in Kiuu River Primary School and proceeded to my secondary school in Mutuini High school Dagoretti Nairobi county. I excelled and joined the University of Nairobi School of Law for my LLB undergraduate degree where I graduated with a second class Honours, upper division.

However this journey was not as smooth, I encountered financial milestones during my schooling and as a result I had to carry out micro businesses of in order to raise the fees, these included planting vegetables and rearing chicken at home.

Kiambu County prides itself with its fertile soil and favorable climate, which is the hub of tea and coffee farming in Kenya , the county also provides a good platform to small scale farmers like me as its huge population and easy access to Nairobi city presents a wide market for the the agri-products.

During my free time i engage in hiking with friends.

My Business

I recently rented a shop which I intend to use as a cereal shop. According to my research, I found a great demand of a cereal shop in Ruiru, Oj connection area as the area comprises of a many restaurants and residential areas thus the market i the area is very high and I would be a monopoly in the sad area.
I would like to purchase stock for the shop and equip it with with one cashier counter. The profits from this shop will help in expanding it as in future I am targeting to have a big supermarket in the area.
I rented the shop from the proceed of my other farming project and some of the proceeds from this shop will expand the farming business and build green houses as the rainy season is affecting the business.
Due to the inconveniences caused by the floods, this business recorded a loss due to the plants getting damaged.
I now am dealing with sale of second hand clothes which is marketable right now since it's cold and I sell trench coats and heavy clothes.
The rest of the profits will go towards payment of my tuition fees for my school.

Loan Proposal

I have the rent and the shop deposit already paid from the proceeds of my farming business that is subsequently running. and I have already made arrangements for making the counters and labor costs. The funds lent will enable me to attain stock comprising of maize, beans, and nutritious sorghum and millet flour.

I will spend $80 on the purchase of purchase of 7 sacks of maize, $75 on purchasing 4 sacks of beans, $45 on seven sacks of sorghum and millet flour. The remaining $8 will be used on purchasing an electric weighing machine.

This business will increase my profit and aid in building green houses for my farming project as the crops are getting damaged by the rains and the cold weather. Further, to the community, these products are very nutritious thus I will be encouraging healthy eating so as to avoid lifestyle diseases.

This business will generate profits to a tune of 30% and will boost my farming project to tune of 20%.