Stock purchase for elli's perfumery

Elizabeth Frimpong

Ghana, Ghana

100% repaid

Entrepreneur

Name

Elizabeth Frimpong

Member since

March 2021

On-time repayments

25 installments  •  52%

About Me

Hello everyone, my name is Elizabeth Frimpong. I hail from Kwawu Pepease in the Eastern of Ghana. Currently, I reside in Tema in the Greater Accra Region of Ghana. I am the proprietress of Elli's Perfumery a retailer of undiluted designer perfume oils.
My ambition is to open my first retail shop in 2021, at the moment I retail my products online and on social media.
My previous work experience includes working as a retail supervisor at The Farmer's Market which is a fruit and vegetable supermarket in Tema(website: www.thefarmersmarketgh.com). I've also worked at Pan And Cook a popular dutch street food vendor of poffertjes, a traditional Dutch batter treat, at the ANC Mall in Achimota Accra.(website: www.panandcook.com).
I have decided to utilize all the skills and experience I have acquired from the retail and service industry to establish my own business in perfumery.
Thanks for reading.

My Business

Elli's Perfumery a retailer of undiluted designer perfume oils sourced from perfume manufacturers in Dubai and France. Currently, I retail my products online and so social media as well as distributing to shops in Accra and Tema.
Everybody loves to smell good and fragrances are an essential personal grooming product. What differentiates our products from the rest is the fact we sell pure undiluted perfume oils ranging in quantity from 3ml -100ml bottles.
The 3ml bottles retail for GHs12 Ghana cedis which is broadly affordable to the average Ghanaian.
I chose to sell perfume oils because they're in demand, high quality and affordable for the average Ghanaian, and also because they sell very fast.
1kg canister of perfume oil ranges from a GHs650(including delivery). From this, we make a revenue of GHs3996 Ghana cedis. Lable printing, packaging, empty perfume bottle purchases and branding cost an extra GHs1000-1200 Ghana cedis per 1kg bottle.
I reinvest profits back into the business to acquire more stock and also I plan to open my first physical retail shop in Tema this year.

Loan Proposal

I will use the loan to supplement the capital I have in order to purchase more stock. I achieve better sales and profits from packaged deals, however, my current stock levels are inadequate. I would like to place a wholesale bulk order from my suppliers in the foreseeable future.

Income Source

The situation hasn't changed since my last loan. Demand is steady and sales are good. My main challenge at this point is inadequate stock levels to drive sales with promotions and packaged deals.

My Videos

May 9, 2021: Intro to elli's perfumery

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Loan Info

Project Type

Classic Loan

Disbursed amount

$30.21

Date disbursed

Apr 6, 2021

Repayment status

On Time

Projected term

1 week

Cost to entrepreneur

Service fee: $1.01

Credit risk payment: $2.79

Optional expediting fee: $3.17

Lenders

I

isaac

United Kingdom

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