Entrepreneur
Name
Isaac
Member since
January 2015
On-time repayments
78 installments • 67%
About Me
I am 23 years old and has been for long interested in entrepreneurship. Currently I am staying at Gachororo in Juja, Kiambu county where I have resided for the past 4 years. I have a humble background of 2 parents and seven siblings. I am the 3rd born and was privileged to obtain tertiary education which has drained much of the family finances and my younger siblings who are in tertiary,secondary and primary levels of education also inspire me to be independent and reduce reliance on my parents. In my secondary school I used to sale food products such as Avocado and groundnuts which I obtained cheaply from our home which enabled me to obtain pocket money for my studies. I studied a course in food science and technology during which I got an attachment in a milk industry and my association led to a business linkage whereby they sold to me milk products at wholesale price and I distributed them in student hostels at a retail price. I expanded the business to include other retail traders thus increasing my stock and returns. I and wish one day to own a food industry or own a chain of food distribution networks in Kenya. I am hardworking and believe that my different abilities will help me to be successful since the culture of the Kisii people of being aggressive and hardworking has been incalculated in me.. I have diversified skills i.e in other areas such as driving and knowledge in areas such as Information technology. Other hobbies I have include reading and writing for pleasure. I suppose to integrate this skills in my life to make a living and be a blessing into humanity.
My Business
I have been engaged in retail of fresh milk for the past 2 years and has recorded success through distribution to various customers. I obtain my product from a dairy industry and deliver them to my retail customers which allows me to make some sustainable profit returns. People need fresh milk for breakfast and as a refreshment. The products are in high demand during sport events and holiday sessions i.e December but all the year through people need constant food supplies.I chose these kind of products because it was in line with my course of study. I receive competition from well established companies which deliver their milk products directly through their employees. I could like to diversify the products I sale and not only dealing with fresh milk but including yoghurt, fermented milk (mala) cheese and ghee. I also need to buy a bicycle to make my expenses cheaper unlike using public means of transport which charge highly. This will enable me to increase my stock and reach more customers allowing for an expansion. Currently I supply milk to retail traders and sometimes to individual customers to increase my daily sales. I spend 900kshs to buy my dairy products every day which enables me to make profit of up to 300KShs in a good day`s sales. during peak times, my daily profit can reach 500KShs while at worse moments I can make 30Shs. I use my profits for reinvestment in growing the business and in sustaining my livelihood.
Loan Proposal
I Need to buy a Refrigerator for storage of milk products. This will cost 183 Dollars. The fridge will be meant to increase the shelf life of the milk products by maintaining them at lower temperatures. Many times when the products are stored at room temperatures they deteriorate at a faster rate which at times leads to huge losses. This results especially when there is a low turn out of customers and am forced to store them until the next day.With the availability of a fridge I will be able to hold the products in storage for longer and deliver them conveniently especially in the morning and evening hours when the temperatures have fallen. I will use part of the money i.e 25 dollars to increase the stock of dairy products i.e yhoghurt, cheese, ghee and fermented milk (maziwa lala). I have an expectation that the profits will double because the losses incurred through milk spoilage will be minimized. I will used the profits to expand the business to reach more customers and also expand the clothing business which I opened for my younger brother. I will be very grateful for your support. Thanks in advance.
Feedback
Positive
None
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$198.00
Date disbursed
Jun 16, 2015
Repayment status
On Time
Projected term
10 months
Other loans
Lenders
United States
Ask Isaac a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.