Dominic
Free Area, Nakuru, Kenya
$0 to go
100% funded of $500 goal
0
days left
Entrepreneur
Name
Dominic
Member since
November 2012
On-time repayments
11 installments • 0%
About Me
My name is Dominic Ncunge Kirimi. I am from Meru County but currently living in Nakuru, Free area estate. I own a barber shop (Kinyozi as locally known). I was born in 1983, married and blessed with one child. I went to Iriene primary school in 1994 where I did my Kenya certificate of primary education in the year 2001 and qualified to join Nkubu Boys high school in the year 2002.Unfortunately due to the my father’s illness I was unable to finish my studies. His condition lasted for a year where he was admitted in Chogoria district hospital.
Unable to raise the school fees in Nkubu Boys I decided to join Meru institute of professional studies for my certificate in beauty parlour and hairdressing for eight months. Later I joined the job market where I was employed in a barber shop. I worked there for two years while saving some money. I had saved twenty thousand shillings when I thought of opening my own barber shop but the money was not enough. I talked to my brother who agreed to give me another twenty thousand shillings. The money helped me start my own barber shop in Meru town. I operated the barber shop until 2009 when very many people ventured into the business and this led to the reduction of my customers which adversely affected my profit. The other challenge was that my competitors came up with sophisticated equipment which could not match mine.
I decided to sell the business at ninety thousand shillings and relocate to Nakuru where I started another one. I was then an experienced man and my business went on very well. I have been saving some money in the bank and also am able to provide necessities for the family.
My Business
Nakuru town is a growing town within the Nakuru County. New industries are being set up because it is safe and that has created a gap for good barber shops around town and its environs. In my current barber shop I shave, trim, relax and massage men’s hair. In the last one month I have also ventured in manicure and pedicure. Men in town appreciate this service because it makes them look good.
Depending on the day, from the services offered I make at least Kshs 2,000 per day. After deducting the daily expenses of roughly Kshs 500 on consumables I am left with Kshs 1,500 which is around Kshs 45,000 per month. I also pay a monthly rent of Kshs 10, 000 which is inclusive of water and electricity, Two employees at a cost of Kshs 7, 000 each giving me a total of Kshs14,000. The Net income comes to Kshs 21,000 per month.
Loan Proposal
The money received from zidisha would be used to buy two modern barbershop chairs at kshs 20000, two clippers at Kshs 10000, one sterilizer machine at kshs 6000. This totals to kshs 36,000. The remaining amount would be ploughed in the business inform of barbersshop's consumables. This plan will allow me to employ two more barbers to attend to the ever increasing number of clientele that have been disappointed by the slow pace when attending to them.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$500.00
Date disbursed
Dec 27, 2012
Repayment status
Late
Projected term
12 months
Lenders
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