Taekwondo uniforms and supply of training aids
Ernest Madanji
Nairobi, Kenya
100% repaid
Entrepreneur
Name
Ernest Madanji
Member since
October 2016
On-time repayments
115 installments • 49%
About Me
I was born in Butere, Western Kenya and had a decent education. I completed high school and eventually graduated from the then Kenya Polytechnic with a diploma in Building Engineering in 1986. I'm a father of seven: four boys and three girls, with my second-born girl in university while the first born is to join campus next year.
What's interesting about me is I've never worked in the field; I studied as I took to sports early in life. I played on the Kenya National Taekwondo team since I was in sixth form until 1992. I was the Head Coach for Taekwondo in Kenya from 1986 to 1999 when I left for Kampala, Uganda. In Uganda, I revived their Taekwondo, having been appointed the national coach, a position I held till 2009. During my stay in Uganda, I learned their language and had my second wife from Bunyoro. I found that the education system in Uganda is better than what we have in Kenya. They still have the 7-4-2 University. They have the best education industry in East Africa with students coming to study in Uganda from all East African countries. This has led me to have all my kids study in Uganda where they stay with my wife except for the eldest two, who are in Nairobi with me to pursue university education.
I came back to Kenya in 2010 on a call from the Kenya Taekwondo Association to take the Kenyan team to Cairo for the Olympics qualifiers tournament. That's when I decided to stay and support my daughters with their university education.
My Business
I realized while in high school that I was talented in the sport of taekwondo, having made the Kenya national team while still in school. When I cleared with my diploma studies, I decided to follow my passion. Inevitably, I had to earn from the sport which I had taken full time. In those early days, it was not easy to make money in an unknown sport like taekwondo. This forced me to expand my knowledge in the industry and become a gym instructor. l eventually founded in 1994 the Kenya Taekwondo Academy as a gym, where I have taught and continue to teach people interested in taekwondo. This is where I merchandise training kits, uniforms and other accessories. As a gym instructor, l'm always interacting with people seeking to be fit, lose weight, and build their bodies.
I've had my success in this field. I earned a bronze medal in the 4th All Africa Games. I have traveled to all continents over the past three decades I have been in this sport. Currently, I'm the highest ranking taekwondo expert in the East Africa region. I should be getting my 7th degree Black Belt before the end of this year.
Loan Proposal
I have just finalized paying for the members depositors' fund to enable me to borrow to commence my project to take advantage of my status as a Taekwondo instructor by being able to supply not just uniforms for training but also training aids. This will also see my household income improve. I look forward to expanding this opportunity to the level of a martial arts supply shop in the future.
About Me
Born in Butere Western Kenya had a descent Education completing High School and eventually graduated from the then Kenya Polytechnic with a diploma in Building Engeneering in 1986.
I'm a father of seven four boys and three girls with my second born girl in University while the first born is to join Campus next year.
Interning about me is I've never worked in the field I studied as I took to sports early in life . I played on the Kenya National Taekwondo team since I was in sixth form till 1992, was the Head coach for Taekwondo in Kenya from 1986 to 1999, when I left for Kampala Uganda. In Uganda I revived their Taekwondo having been appointed the National coach, a position I held till 2009. During my stay in Uganda I learned their language and had my second wife from Bunyoro. I found that the Education system in Uganda is better than what we have in Kenya, they still have the 7-4-2- University. They have the best Education industry in East Africa with students coming to study in Uganda from all East African Countries. This led me to have all my kids study in Uganda where they stay with my wife except for the eldest two who are in Nairobi with me to peruse University Education.
I came back in Kenya in 2010 on a call from The Kenya Taekwondo Association to take the Kenyan team to Cairo for the Olympics qualifiers tournament. It's when I decided to stay and support my daughters with their University Education.
My Business
I realized while in High School that I was talented in the sport of Taekwondo having made the Kenya National team while still in school. When I cleared with my diploma studies I decided to follow my passion. Inevitably I had to earn from the sport which I had taken full time. In those early days it was not easy to make money in an unknown sport like Taekwondo. This forced me to expand my knowledge in the industry and became a gym instructor and l eventually founded 1994 the Kenya Taekwondo Academy, as a gym where I have taught and continue to teach people interested in Taekwondo. This is where I marchandize in training kits, uniform and other accessories. As a gym instructor l'm always interacting with people seeking to be fit, loose weight, build their bodies.
I've had my success in this field, I earned a bronze medal in the 4th All Africa Games , have travelled to all continents over the past three decades I have been in this sport. Currently I'm the highest ranking Taekwondo Expert in East Africa region - I should be getting my 7th degree Black Belt before the end of this year.
Loan Proposal
I have just finalized paying for the members depositors' fund to enable me borrow to commence my project to take advantage of my status as a Taekwondo instructor by being able to supply not just uniforms for training but also training aids. This will also see my house hold income improve. I look forward to expand this opportunity to the level a martial arts supply shop in the future.
For this loan which I will get a principal amount of US$ 792
After deductions of the service fees I will have a net of US $ 744.
Purchase of Kids Taekwondo kits at a whole sale price of $ 20.00 each
This will give me at total of 37 Taekwondo kits for kids
The sale price in the market now is US $ 25.00 each.
My gross profit is US $ 925
Net profit after paying the principal amount is 925 - 792 = 133
US $ 133.
I already have the orders following the introduction of Taekwondo in two primary schools that I teach. This should make a easy start for this undertaking.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$814.00
Date disbursed
Apr 21, 2017
Repayment status
On Time
Projected term
3 months
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Mary Apr 11, 2019
Philipp Aug 8, 2017
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