Entrepreneur

About Me

I am a male aged 24 years and I live in Nakuru.I come from a humble background I managed to complete my high school education where i did my O level and scored averagely.I manage to get a job with one of the company in Kenya but on contact basis of six months ,afterwards I was jobless.I took me six months seeking for another job but this time round my uncle took me as one of his shop assistance and from there I got an Idea of starting my Shop. After three months of working with my uncle i realized I could not survive in that job because I couldn't make ends meet together with my siblings.I approached my mother on the third month and explained to her about the idea of starting a small business. She was for the idea and with the little capital that I hard from the small savings I had kept when I was employed on contract, I started a small business of selling second hand clothes commonly known has mitumba and household utensils.The business did very well and I was encouraged.with the earnings from my business I managed to to cater for my basic needs and with of my siblings and some of it I re-invested to my business.

My Business

My business sells second hand clothes and household utensils (cooking utensils,towels,drinking glasses,pans,pots,blenders,pillows and beddings) in the outskirts of Nakuru town of Nakuru North in Bahati.Since most people are low income earners they buy a lot of second hand clothes,in-addition they don't prefer to spent a lot of money and time to travel 12 km to town to purchase household utensils and hence they prefer buying items from my shop which is within their surroundings therefore this creates demand for my goods that I sell.

My customers prefer my business to competition as its strategically located and also driven by quality products and fine services.The business faces various risks including lack of enough stock and space to cater for the large number of customers.With assistance of a loan I will be able to overcome the risks and challenges by purchasing enough stock at low prices and also benefiting from the advantage of economies of scale thereby selling the products at affordable prices and thereby satisfying my customers effectively. This will in turn increase my net profit.

Monthly Sale Revenue-Kshs 42,500
Total monthly costs -Kshs 25,500
Monthly Net profit-Kshs 17,000

Loan Proposal

With assistance of your loan I will be able to purchase stock at low prices,that is buying enough clothing's,utensils and increase the space of my business to cater for more customers ,this will benefiting my business as i will enjoy the advantage of economies of scale thereby selling the products at affordable prices and thereby satisfying my customers effectively and also attracting more customers.

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