To buy a new shaving machine and hairdo stock

Entrepreneur

About Me

My names are Anthony Mungai Thiong'o, a first born in a family of six. I completed my high school studies in the year 2007 and got a good grade. My parents were not able to take me to college and so i had to device a way of making a living. I went to Nairobi city in the year 2008 and in the first six months i worked as a gardener. I pleased my employer and i was employed in his hardware where i was earning 4 dollars in a day. The amount was suffient enough to sustain me and pay school fees for my young siblings. I also used to save some amount every month. By the year 2012, i had saved enough to take me to college. I joined university of Nairobi to undertake bachelor of commerce degree. My job did not allow me to attend my classes and so i decided to resign and start my own business. That is when i started a barber shop around campus

My Business

I run a barber shop at a place called kabete near my campus. Most of my customers are my fellow students. There are two other barber shops in the area but many customers prefer my place because am widely known and also my student friends market the business well. I earn roughly 400dollars in a month and my monthly typical costs average 250 dollars. In a month i make profits of around 150dollars which is usually enough to pay my school fees. The challenge am having is that i operate the barber shop alone and the customers are many. sometimes i have to close to attend classes. Customers come to my place and find a long queue and opt to go to my competitors. Am planning to expand my business if i get the loan and this will enable me to buy a new shaving machine, a blow dry and some hair do stock.In the long run i will transform my business to a beauty spa. My brother knows how to shave and we will carry the business together,i have identified a market niche that is not fully exploited:ladies beauty care,thus i am interested on transforming my barbershop to a fully equipped bisexually beauty point to carter for the ever increasing number of my female client base.thus resulting to more cash inflows. The earnings from my business will enable me to pay the loan promptly.

Loan Proposal

I intend to purchase a new shaving machine which is approximate $40 and hairdo stock of approximately $10.The new extra machine will help to expand my business capacity to handle my increasing client base.By choosing to finance my business lenders will propel me towards my biggest goal of self reliance and financial stability in life.

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