Entrepreneur

About Me

Am Silas Aduvaga kenyan citizen living in Nakuru county Nakuru town in the Rift valley kenya currently married with2kids and living in an estate called Freehold.This estate is mostly inhabited by low income earners as myself because we get cheap housing that can fit into our income therefore am not strained in paying rent . This area also offers cheap food for me and my family.It is situated next to the main gate of St Elizabeth medical Centre. After looking for employment in my town and elsewhere and finding none i took it upon myself to start something that sustain me and my family and the thought of used cloths popularly known as Mitumba came into my mind. I'm an o level and could not find employment so i opened and set up a a used clothes where am running a hired a space for mitumba business for my customers and clients.This business cost me a lot of money in stock and therefore reduces my profit margin significantly.The earning i get from the business helps me to pay my rent,food for my family and the rest used or hire space and other inventory.this has strained my resources because the hire charges are constant irrespective of the current day sales or the changing market forces.

My Business

The reason why i would like to be lent a loan is that i would like to upgrade my business and there after have an edge over my competitors. i have done my own research and found out that many of my competitors have not ventured into the business of formal sale of mitumba where there is actually a shop for mitumba.I have secured a shop i one of the buildings in town center.This place will increase my clients base . My plan is to attract wealthy clients who because of their reputation cannot buy used clothes in the open as this may damage their stature in the community.I have already paid for the deposit for this shop but is less with cash to make structures in the shop like shelves to accommodate the clothes.With this loan i will be able to make these shelves and begin the business and have an edge over my competitors..From this i will make enough money to pay back my loan to Zidisha and here also i will be able to make enough money to help myself and my family.I believe that due to the prime position of this shop and the security plans available in this building where i have set shop i will be able to beat my competitors as this type of clients have not been looked after by them.Those customers who come to my business to by old or used cloths whereby they will be able to to have their shapes fit with clothes here also and this will increase the number of customers visiting my business premise.This therefore will increase my monthly revenue significantly. My typical monthly sales is approximately ksh.15000 less cost associated with business of ksh9000 the gross profit s ksh.6000.After the acquisition of the shop i project that the sales will increase.The major risk to my business is political risks as an occurrence of political risk will prevent customers from accessing the business.

Loan Proposal

When i get the loan i will use it to increase my stock ..i will add new clothes. I have alwasy wanted to add different stock like ladies shoes which is doing well in the market and that will increase my profit . I am also intending to add belts as a different stock . All these will boost my business and i will be able to pay my loan in time.

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