I am a 2nd born to a financially humble family of 5. I started my education very late when all my age mates had already moved several classes ahead. This is due financial situation of my parents. Later, I went to Soon primary for my primary school education. I did very well. Went to secondary having my uncle paying for my fee and later joined Polytechnic where I did beauty therapy. I graduated from the college but finding employment was hard. My uncle supported me when I asked him to give me capital to start my salon.
My business uncle gave me $100. I rented a premise and used the rest of the money to buy cosmetics and equipments to be used in my salon.
I offered blow dry service, shaving as well as selling hair extensions and cosmetics. My business didn't pick well at the start but this is normal for any at the start. I chose this kind of business because it suits my career. In a day, I receive an average of 3 clients each paying $10 . I sell hair extensions worth $10 per day. To an average my monthly revenue is $60. I use the profits to pay for rent and for business improvement.
When I receive the loan, I will buy another blow dry machine for my salon since the one I have is faulty and sometimes it doesn't work well. I use $45 for the machine. This reduce the time I spent on one client and therefore improves work efficiency. I expected my profits to improve by at least 20%.
New blow dry machine
I am a 2nd born to a financially humble family of 5. I started my education very late when all my age mates had already moved several classes ahead. This is due financial situation of my parents. Later, I went to Soon primary for my primary school education. I did very well. Went to secondary having my uncle paying for my fee and later joined Polytechnic where I did beauty therapy. I graduated from the college but finding employment was hard. My uncle supported me when I asked him to give me capital to start my salon.
My business uncle gave me $100. I rented a premise and used the rest of the money to buy cosmetics and equipments to be used in my salon.
I offered blow dry service, shaving as well as selling hair extensions and cosmetics. My business didn't pick well at the start but this is normal for any at the start. I chose this kind of business because it suits my career. In a day, I receive an average of 3 clients each paying $10 . I sell hair extensions worth $10 per day. To an average my monthly revenue is $60. I use the profits to pay for rent and for business improvement.
When I receive the loan, I will buy another blow dry machine for my salon since the one I have is faulty and sometimes it doesn't work well. I use $45 for the machine. This reduce the time I spent on one client and therefore improves work efficiency. I expected my profits to improve by at least 20%.