The loan will be used to expand my already existing poultry business

Entrepreneur

About Me

I am a kenyan male married with 2 sons. Currently working with the World Food Prgramme in Logistics department. Apart from the employment I'm also engaged in poultry farming where i do sale of eggs and hatching of chicks for sale. i started with quails and from the proceeds of the eggs i managed to acquire an incubator with a capacity of 3,978 quail eggs and 1,584 chicken eggs. However at the moment i am only doing chicken farming. I have diversified into butchery business where i am selling beef and mutton. The reason for getting into business was to supplement my current income and a fall back incase of loss of employment. Income from the business is used to invest in other activities and at the moment i'm in the process of acquiring the necessary approvals from the county government for construction of rental houses.

My Business

I have a salary of $1,414.60 per month.
I have approximately 30 indigenous hens which are laying and 10 cockrelles which are for serving the hens. occasionally i will also get extra income from the sale of newly hatched chicks.
In the butchery on a daily basis i sell an average of 30kgs of beef and 15kgs of mutton. The profit margin in the butchery business is 30%.
the challenges faced in the business is 1. competition - competition in the poultry business is quite high and one has to be innovative to get market for his products. what i use mainly is referrals from existing clients to widen my client base. My wife has also undertaken the duty of fetching for markets from local supermarkets as we seek to enlarge our customer base.
2. Erratic prices - prices have not been stable and thus one has to forecast very well to ensure that you give farmers the best price possible and still ensure that your venture is profitable.
3. mixing business with employment - this is usually a challenge when the chicks are hatching since they need utmost care. during this time i'm forced to hire external labour to take care of the chicks as i attend to formal employment.
The butchery business requires one to be present especially in the evenings when the flow of customers is high which means that am required to attend to it after leaving office in the evening.

Loan Proposal

I purchased an incubator late December 2013 and I intend to utilize the loan to purchase additional setting trays.
Apart from hatching Quails and chicken for my business, I am also offering incubation services to interested neighbours where they pay Kes 30 for each egg incubated.

With the loan i intend to purchase 10 additional trays of which 6 will be for chicken eggs and 4 for quail eggs.
I currently have an order to incubate 500 chicken eggs and this will raise a gross income of Kes 15,000.00.
Part of this money will be paid into the loan and the other re-invested into purchasing eggs so that i now grow my business from incubation services to selling day old chicks which will fetch at least Kes 130 per chick. This will translate to increased income that will enable me clear my current loan and apply for a larger amount next time.

Looking forward to a positive response from Zidisha.

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