To buy more hair pieces for my salon

Entrepreneur

About Me

I am second born out eight siblings, married and with three children aged 12, 10 and and 7 years. Born of peasant farmers in Nyandurua county, Kenya. Due to the humble background of my family, i had challenges going through my education, where i dropped out of school four times before sitting for my KCSE examination. I worked as a help us on weekends and after school to raise money for my school fees. I did my exam and passed with a grade C but could not proceed to college due to lack of college fees. I looked for house help job in a neighboring town where i worked for four year and saved capital for my business. I learned how to take care of hair from my employer, who operated a salon. Through helping her in the salon, i developed interest and decided to open my own. I am working hard to make ends meet and provide a better live for my children. I would wish them to professional in their lines of talent when they grow up. I love socializing and helping less disadvantaged in the community.

My Business

I operate a salon in karuri town where i reside. I plait, blow dry and retouch hair. There are many students and pupils who require plaiting hair as a school rule. There are also many working people who want their hair plaited or treated for easy management. The location of the salon is sub-urban densely populated area and therefore provides a large clientele. My business costs are mainly house rent, electricity and water bills which average to about 100 dollars per month. Business license of 150 dollars per year. Other operating cost are for chemicals, hair pieces, hair oil, combs, rollers which vary with number of clients. I have been reploughing-back 25% of the profit in the business and the rest has been going to school fees and home improvement

Loan Proposal

Since schools and colleges are on holiday, I will use the money to buy more and varied types of hair pieces to plait my clients worth 20 dollars. Most of the students and pupils are looking for the new arrival hair pieces for holiday hair do. This will raise my profits by 60%. I will use 40% to improve the business, save 40% for school fees and use the rest to improve the live of my family.

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