Entrepreneur

About Me

I am a Kenyan citizen born in 1961. We are 5 children of the late Mr. Ronald H. Katana and Mrs. Matilda Katana. My late dad died in the year 1971 when i was very young and were left with my mum and 2 sisters and 2 brothers. Am the second born child in our family, married with one child.
Since my dad died when i was young my mum through the help of a trust fund established by friends of dad, i and my brothers and sisters were able to attend school and attain education up to university level. This can be a tasted by the attached CV.
I currently live where i operate my retail shop business in a small town North of Mombasa at a place called Mtwapa. Though i grew up in Mombasa, the second largest city of the capital city of Mombasa in Kenya.
I started my retail shop business in the month of August 2012. Its a business that one buys in bulk and sell in small quantities to the small low income earners where i operate from. As said earlier you buy in bulk and sell in small quantities one should have a good capital base since when you go to buy the goods and products from the wholesales one should have a good capital base since the goods are normally sold in large kilo gram bags or contain quantities in boxes and one is forced to buy the goods in that order, this so because if you buy the goods in lesser this means your profit margin is also reduced which will reduce your profit margin which which affects your buying power since you may not order the same quantity goods when you enter the reorder level. Thus retail business shop of my deals with daily consumable goods, e.g sugar, flour, millet, margarine, onions, tomatoes, biscuits and some are very perishable hence one has to have stronger facilities as refrigerator and freezers and since i currently do not have these facilities am forced to buy limited items though they are the ones that are more fast and are in high demand i.e. milk, when you stock milk you assume that the client will buy sugar, butter, jam, tea leaves, biscuits, coffee,. Thus from the availability of one item it leads create need of other goods.
I started this business to bring goods affordable quantity products, to the consumers at the recommended retail prices not compromising quality.

My Business

As the saying goes, blood is the life of a human being, then i can be equally be said that finance is the blood life of a business, thus to achieve the best-business practice finance plays a very important and pivoted role on how ones business operates hence before i started my retail shop business i studied the area which i operate from collecting data which help me identify the numbers of retail shops that are in the vicinity, the goods they stock, credit hire if any and selling prices and how they packed the goods when they are bought.
After the market information, sat to prepare the items (goods) i would begin to buy and start selling. Having bought the goods i arranged them in such a way that when one passed the premises, one can easily see them and the price tags on the mode potential prospects look and know that the shop offers not only at recommended prices but of high quality.
Soon word went out that goods al Dericks's (for that's the name of my concern) goods are not only available but at reasonable prices, margin increased and due to this i was able to increase the goods, by diversity to new products like, cooking pots, utensils, detergents etc. So as to maintain my client base and add new clients, i encouraged for a credit line for the clients who from this records buy lots of cash in advance and having a records books. Which is presented whenever they they to purchase goods they do not have to pay up front but would settle their debts at the end of the month, this enable me have cash in hand which enable pay off my debts and what remains thereafter pays is used to buy more stocks and a certain amount is banked for the unforeseen situations.
This has not been a smile to the bank, some client have delayed in payments which has brought some finance hence to reduce risk, i have reduced this credit limit to cushion the risk of defaulters.
Monthly sales hence increase though sales revenue and profits have remind constant this is so because the buying prices have increase but you are able to increase the selling price due to the economic situation hence you have to continue selling the low profit margarine, so as to maintain your clients.

Loan Proposal

when given the loan ,i will diversify my product range.
curently my retail business deals with normal end user
goods eg sugar,flour,cooking fat cereals etc.
I intend to trade in goods that have a lager profit magine,
cooking pots ,ironboxs,plastic basins,be a distrubuter of packaging.
This line of business should prosper because the goods will be easily available
at a competetive cost,hence the prospective customers will not have travel to get
the goods from afar,which means saving on transport.

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