To purchase a welding machine

Entrepreneur

About Me

I'm a young and energetic business minded youth who is ready to explore the little available resources positively to create wealth. I'm an undergraduate in my country having pursued Bsc. Mechanical Engineering a year ago. I'm the 1st born of my parents within a family of six. Having undergone through a lot of struggle in my childhood my business minded attitude led to the establishment of a small milk depot using my savings while in the university where I used to value add milk to youghats but was shuttered. After finishing my undergraduate degree I followed my dreams and last year I started a welding business where I make metallic doors frames, chair frames and windows frames majorly but I also do metallic item repairs. I started this business with part of my schooling loan savings. My business grew at fast rate and I was able to employ a working partner and help my younger siblings as well. Orders requests have also shot up greatly.Yes I need Zidisha loan to expand this business of mine. Buying an extra welding machine and employing an additional welder, repayment of this loan will be very simple and fast since I will increase my weekly profit margin. My hobby include travelling, watching and surfing.

My Business

In early of last year I decided to set up a welding garage which I operate at Nairobi outskirts, Ngara. I design and make metallic windows frames , doors frames , chairs frames. Also I repairs broke items such as chairs, tables, car body parts etc. I chose welding business because of the booming rise of real estates growth in Kenya. This guaranteed a ready market for my doors and windows and I knew setting a business of this kind would be best and it has really been. As a matter of fact, to make a building complete there is no way one can avoid any of these products.
Usually I take three orders weekly and on a normal order, which would be a single door and three window frames, I spend Kes 9500 on all buying required materials such as metals, solders, grinder sand cutters if required etc. and for energy. I also have two workers whom I pay a total of KeS 2000 on a daily basis. Going by what routinely happen, a single order will take at least 2 days mostly. So after a single order, I use Kes 12,000 and after delivery, I roughly obtain KeS 5000 from the order. I reinvest KeS 2500 back in the business, then I send KeS 1000 to support my parents in raising my younger siblings. I'm able to save around KeS 1500. This business has fetch me more profits so to say and most of this profit is been used to buy additional products and tools maintenance in the workshop and has enabled me to support myself as well.

Loan Proposal

I will purchase a welding machine . I basically design and make metallic windows frames , doors frames , chairs frames and on few occasions I repairs broke items such as chairs, tables, car body parts etc. I need another welding machine which goes for $200. Real Estate development has been on the trend which has created market for my services highly. This has left me in a position not able to satisfy all the orders timely and sometimes lose some orders completely to my competition. It's for this reason I decided to purchase additional welding machine to curb some of the lost orders. I'm expecting to at least capture two additional orders per week which I was losing out. From the calculations above, I'm projecting an average revenue profit increase by $100 on weekly basis. Reinvesting back $50 of this, I will be able to get an net profit of $95 on average per week which will be of great boost to my business.
Thank you.

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