Increase stock of motorcyle spare parts
Hadson Wakaba
Khisero Village, Kenya
100% repaid
Entrepreneur
Name
Hadson Wakaba
Member since
April 2014
On-time repayments
24 installments • 71%
About Me
My names are Hadson Wakaba Ndiang’ui. I grew up in Nakuru County but later moved to Kakamega county at a place called Khayega. Where I now live with my family. I am married to one wife called Jacinta Muthoni. We have twin children who are both girls. They both attend Elimu Nursery school in Khayega. I come from a humble Christian background. I run the business of selling bicycle spare parts. I have been in the business for over two years now having changed from dealing in electrical goods. I moved to bicycle spare parts because I saw the great potential of the business, especially now that many people are buying bicycles which regularly need repair. I run my shop along Khayega Town. I buy my wares from business persons who import them from Asia, mainly China. I have every bicycle spare part one can need. Most of my customers are bicycle taxi operators who work in the rural parts Kakamega county.
My Business
My business involves selling of bicycle spare parts. In my shop, I sell bicycle tubes, tyres, brake pads, seats, helmets, among other items. bicycles has emerged as a reliable mode of transport in many rural parts of Kakamega County. And with increased use of bicycles in the public transport system, demand for spare parts due to tear and wear has risen.The business is lucrative. Price of goods in my shop range from between US$0.2 US$ 20. The expensive parts are bicycles frames, most of which are made from aluminum tubes. The much soughted spare parts are tyres and brakes. Tyres are on high demand because they need routine replacement. Most operators change them between four and seven months. I sell the tyres between $17 and $19 depending on the make and quality. On a good day, I can make up to $50.My main challenge is counterfeit spare parts. There are so many counterfeit spare parts in the market that it is hard to avoid them. They are cheap but do not last. Some customers buy them only to come and complain few days later, which is not good for business. My dream is to open a wholesale business for bicycle spare parts. I am hereby requesting Zidisha microfinance to help me by funding my loan.
Loan Proposal
With this money, I will be able to add a few stocks of motorcycle tubes, tyres, brake pads and seats. This will really boost my business. This is because the motorcycle tubes, tyres and brake pads and seats always sell much quicker than the other stocks. I will use the profit from my business to pay back my loan promptly. I therefore appeal to lenders to help me get more stock of goods in my shop. Thank you
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Loan Info
Project Type
Classic Loan
Disbursed amount
$50.00
Date disbursed
May 19, 2014
Repayment status
On Time
Projected term
5 weeks
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Lenders
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