Expansion of my beauty and cosmetic business
Samuel
Nakuru, Kenya
100% repaid
Entrepreneur
Name
Samuel
Member since
March 2015
On-time repayments
314 installments • 67%
About Me
My name is Samuel Njuguna and was born on 3rd January 1991 in Nakuru county, formerly known as Rift valley Province. I joined school at Mugwathi Primary School in 1998 and left in 2006. I enrolled at Bavuni Secondary School in 2007 and left in 2010. I stayed at home for one year before joining Tracom College in 2012. While at home in 2011, i reared a calf hoping to sell it a year later and add onto the money my parents would give me as school fees for my college fee. I reared the calf for a whole 11 months and while about to sell it in a month's time it was stolen. My hopes for joining college appeared dashed but my parents struggled to pay the entire fee. I pursued Computer Networking and graduated with a diploma in 2014. Upon graduation, my parents gave me $350 to venture into a business of my choice. I began a beauty and cosmetics shop along Langa Langa street.
My Business
I engage in selling of beauty and cosmetic products for ladies The goods are in demand because ladies all over the world are renowned for loving beauty, thus chose such kind of business. My costs are are as follows:
Rent- $44
Electricity- $6.
Whenever i buy goods worth $100, the sale is usually $200. On average i buy stock twice in a month and therefore my net income is usually $150. I use the profits to save and add more stock to my shop.
Loan Proposal
My plan with loan is to expand my beauty and cosmetic business by improving on the existing brand and adding new brands with the aim of making profit through ensuring supply and demand of the product equals and by this i will be challenging my competitors. am going to buy locally produce goods Hair clips, handbags,ear rings,weaves,braids,Abuja hair and bungles. i will also going to buy goods from Uganda which are really going this are both men and women shoes, cream,powder, makeup
cost of;
braids 20pairs costing 30$
hair clips 30pairs costing 20$
ear rings 60 pairs costing 20$
weaves 100pieces costing 70$
Abuja hair 50pieces costing 65$
bungles 30pieces costing 20$
shoes 80pairs costing 120$
cream 60pieces costing 35$
powder 44 pieces costing 25$
makeups120 pieces costing 70$
handbags 50pieces costing 60$
necklaces 100 pieces costing 80$
lotion 50 pieces costing 45$
women dress 10pieces costing 8$
with all this my business will be able to give back a profit of 70% and i will be able to pay my loan and able to face competition with other business around since we are approaching festive season in our country am sure that my business will meet the needs for this season and i will be able to retain and have new customers. this will be as an icon of development in the society.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$643.00
Date disbursed
Dec 3, 2015
Repayment status
On Time
Projected term
15 months
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