To expand my food retail shop

Joseph

Berekum, Ghana

Funds disbursed

$0 to go

100% funded of $304 goal

days left

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How it Works

Entrepreneur

Name

Joseph

Member since

March 2015

On-time repayments

31 installments • 55%

About Me

My name is Joseph Awisi Yeboah. I live in Berekum, an area in the Brong Ahafo Region of Ghana. My house number is 204, Berenyakwa. I am 24years of age. My parents are Mr. and Mrs. Yeboah. I grew up with two siblings. I completed primary school and continue to have Senior Secondary School Certificate respectfully. I have always thought of setting up my own business to help create employment for other youths who are unemployed. As such I have set up a small business where I sell provisions to the people of Bberekum and its environs. My hobbies are; soccer and reading books.

My Business

My business is a retail shop that deals with selling food items such as,rice, sugar, cooking oil, baked products such as cakes and bread, milk, eggs, and juices. The shop is located at the central market in Berekum. I started the business about four years ago with a capital of $50. The shop serves a fairly large number of customers since it is strategically located at a junction along a busy street with many residents and passersby. The goods that I sell at my shop have a high demand since the area is residential with many low and middle income earners who need to do frequent shopping of food items to feed their families. The name of my business is "God’s chosen Shop." As such, customers have been flocking at my shop, curious of doing their shopping at better prices. Moreover, the area is dominated by middle and low income earners who are often keen to compare prices before they make their purchasing decisions. My typical costs include the cost of buying stock to re-stock the shop and also introduce new items. On a weekly basis, approximately $127 may be spent on stock and transport of the goods from the wholesalers' premises to the shop. In terms of revenue, the business generates about $300 every month. Out of this, the profit is about $173. All the profit is reinvested into the business to expand the range of products available as per customers' demands.

Loan Proposal

When i am given the loan i will purchase food items like bags of rice and sigar, different kinds of tin tomatoes , milo, soft drinks and other food items to stock my provison store.
This will help my community to get better thing in the community ,and live better life .
If this loan is granted , it will enable me to exand my business and this will help incteasr my profit from 40-50% .