To get more shirts for my boutique and buy books for my bro

Entrepreneur

About Me

I am Michael Sarpong. I am 23 years old. I am the first born of my parents with two siblings. I completed senior high school with a very good grade but could not join university because of finances. So I worked in the informal sector selling mobile phones for one year, until I was able to save funds to pay for my tertiary education. I am now a final year Bsc. Dietetics student in the University Of Ghana. I started my Hawaiian shirts business in the year 2012 during my first year vacation. This was to help finance my education and to prevent idleness as I stay home. Even after school resumed I didn't quit because it turned out successfully. I love to play football and dance to music. I also like searching for information online. My dream is to own a boutique, have a dietetics consulting firm and engage in a large scale agribusiness(rearing and selling of cattle)

My Business

I started my business in the year 2012 during my first year vacation. This was to help me finance my education and to prevent idleness as I stay home. The business turned out successfully and even after school resumed i didn't quit because it turned out successfully. I used to sell the Hawaiian shirts in school by visiting the hostels. I also send the Hawaiian shirts to offices for sale. I just started a wholesale boutique where retailers come in for the Hawaiian shirts for sale.I do advertise the Hawaiian shirts on whatsapp and instagram where clients give me their sizes, with description of color of the shirts they want and i deliver them to their offices in a good package style. My shirts are affordable and very attractive. My shirts suit every occasion too, therefore the demand is higher than what I have in stock. Thus, I will use the loan to invest in the business to increase my production. Every week I make an average sales of 500 Ghana Cedis which is equivalent to 157.11 US Dollars. I am sure that i will make turn around business especially now that i have started wholesale business.

Loan Proposal

When I receive the $50, I'll use 85% which is $42.5 to buy 10 new shirts into my boutique.
I'll use 10% of the money which is $5 to buy some books for my junior brother. This will reduce the financial burden on my parents.
I buy a shirt for $4.7 and sell it for $7.8
I'll use the remaining 5% of the money which is $2.5 for transportation.
I'll pay my employee 25% with respect to the sales he make a day. For instance, if he make sales of $78, I'll pay him $19.5. This will motivate him to make more sales in order to increase his payment and help productivity as well.
I hope my loan will be funded very soon to make my dream come to reality.

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