Entrepreneur
Name
Larry
Member since
January 2014
On-time repayments
44 installments • 73%
About Me
My Name Is Larry Keya. I am a Trained Agronomist and a self taught IT expert.
I generally have a passion for Entrepreneurship especially that which is geared to creating youth Employment.
I have Won Multiple awards in the Field of Entrepreneurship and Youth Employment for the various projects that i have including
Sukuma Afrika Young Entrepreneurs Competition
http://sukumaafrika.org/campaign_competition_2011.html
African Leadership
Awards in 2012
http://starsoftheindustry.com/Africa_Awards.html
http://goo.gl/395Yi
and ‘My Continent My Future’ Award by The New Partnership
For African Development (NEPAD)
http://www.nepad.org/ceo039s-office/news/3137/photo-and-essay-competition-announcing-winners
I wish to use this platform to get funds to expand my project and increasing the number of youth in self employment
My Business
I run 2 businesses; Offline i run a greenhouse farming project and Online i run A digital Download online store (This particular loan will go to my Online Business)
I run an Online store called SOKO LANGU www.sokolangu.com . This store enables people buy digital products like ebooks, Manuals & Guides, School Notes & Exams, Songs, Software, Scripts etc
Soko Langu is fully integrated with local and international payment modes. It is also automated in that once a client makes and confirms payment, a download link is sent to their email address.
Digital products are preferred to tangible goods since they are easy to create and do not require a huge amount of capital to create. A youth can easily convert knowledge that they learnt in school and sell it online through our store earning themselves an income. For Instance i used my knowledge as an agronomist to create a Guidebook on Tomato Greenhouse Farming which i sell online. http://sokolangu.com/manuals-guidebooks/8-guidebook-tomato-greenhouse-farming.html . I have sold 89 copies of this book in 3 months.
This success in selling my Tomato Greenhouse Guide inspired me to open up the store and allow other youthful sellers to list their digital downloads
SokoLangu charges sellers 10% commission each time they sale.Currently Soko langu generates USD 500 per month as gross and USD 50 as commission charged on sales.Soko langu's edge over its competitors,is its fully automated system integrated with local payment modes.
The loan requested will be used to boost marketing efforts of the store through affiliates hence boost sales
Loan Proposal
The Loan Requested will be used to improve the marketing strategy for SOKOLANGU {www.sokolangu.com} my digital download online store
I will use the funds to integrate an affiliate system in the store. This system will enable anyone to advertise or recommend any products listed on the store and earn commission when an actual purchase is made.
Currently the $ 500/month in sales generated is as a result of marketing efforts of one person (Myself).
The plan is to integrate an affiliate system, Get 10 initial people and train them on how to be successful affiliate marketers, then let them market products in the store for a commission. The idea is to replicate my marketing efforts in the 10 initial affiliates in order to boost sales of the store and attract more sellers to list their products in the store.
I anticipate that this affiliate system will boost sales by 30% (This being conservative projection). It should take roughly 1 month to integrate the affiliate system and to Train the affiliates. I anticipate growth of sales revenue on the third month from the time the affiliate module goes live.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$250.00
Date disbursed
Jan 12, 2014
Repayment status
Late
Projected term
10 months
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