Entrepreneur
Name
Harun
Member since
October 2012
On-time repayments
72 installments • 21%
About Me
My name is Harun Githinji Ndungu from Kenya Central Province, Nyandarua County. I was born in 1981 In Mombasa Coast Province. I am third born in a family of Five. I am currently self employed in a small business dealing with petroleum products in Chobe Centre, North Kinangop Situated along Njambini - Engineer road. This area is fast growing and with the District headquaters at Engineer 3 km from Chobe. The need for more housing has seen the population and general development being on the rise. I started this venture having seen the same type of business do well in other places. After doing my research, i decided it was time to give it a try and after mobilising startup capital, I started. The business have been doing fine and with it i have been able to earn income that has been enough to take care of my needs. Part of the income has also been diverted to farming, an area i had interest in.
My Business
I want to expand my business which has shown great prospect of growth. The business is located within a rural setup (location). This place has no electricity and majority rely on other sources of energy. With availability of rental houses, there are many residents working in the neighbouring towns, Engineer, Munyaka and Njambini. Many people choose this location because of availability of cheap rental houses. I intend to open two branches to maximise sales. The areas sorrounding Chobe i.e Chuma, Gathaara, kamunyaka Thindi, Kijiko and other interior places all access this products either at Weru, Engineer or Njambini. Chobe is a Junction that servers other areas and the only reliable means of transport are the Motorbikes. These motorbikes also access fuel from far distance. I there fore find this as a market gap which i intend to fill. This areas has few Secondary Schools which i want to explore possibility of them being my large scale customers. I also intend to buy in bulk and this will help me attain economies of scale which will help me in turn less at relatively lower price than the few Vendors who sell this products from their shops. By doing so, i will have competitive edge over them. The Health officials have also sited these vendors as being insensitive to consumers by stocking such types of business with other foodstuffs.
Currently i sell on average 25 litres @ 115 i sell the same @ 140 With a profit of Ksh. 25. (25 x 25=625) Per day. This translates to a Gross profit Ksh. 18750 per month. and Net Profit of Ksh. 11,000. Its with this projection that i want to expand the business to include Kerosene There by maximising sales. Its with this view that i want to borrow a loan of Ksh 65 000 so that i can expand my business.
Loan Proposal
I want to expand my business which has shown great prospect of growth. The business is located within a rural setup (location). This place has no electricity and majority rely on other sources of energy. With availability of rental houses, there are many residents working in the neighbouring towns, Engineer, Munyaka and Njambini. Many people choose this location because of availability of cheap rental houses. I intend to open two branches to maximise sales. The areas sorrounding Chobe i.e Chuma, Gathaara, kamunyaka Thindi, Kijiko and other interior places all access this products either at Weru, Engineer or Njambini. Chobe is a Junction that servers other areas and the only reliable means of transport are the Motorbikes. These motorbikes also access fuel from far distance. I there fore find this as a market gap which i intend to fill. This areas has few Secondary Schools which i want to explore possibility of them being my large scale customers. I also intend to buy in bulk and this will help me attain economies of scale which will help me in turn less at relatively lower price than the few Vendors who sell this products from their shops. By doing so, i will have competitive edge over them. The Health officials have also sited these vendors as being insensitive to consumers by stocking such types of business with other foodstuffs.
Currently i sell on average 25 litres @ 115 i sell the same @ 140 With a profit of Ksh. 25. (25 x 25=625) Per day. This translates to a Gross profit Ksh. 18750 per month and Net Profit of Ksh. 11,000. Its with this projection that i want to expand the business to include Kerosene There by maximizing sales.
I want to take advantage of the projected increase of fuel prices which might be effected on 14th Dec by buying at the moment when prices are low and then after the increase by Kenya Energy Regulatory Commission, sell at relatively lower price than that of my competitors. I am still in the process of constructing an underground tank which will help great deal in storage.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$383.00
Date disbursed
Dec 14, 2012
Repayment status
On Time
Projected term
12 months
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