Selling clothing to pay my university tuition
Nancy
Makongeni, Kenya
100% repaid
Entrepreneur
Name
Nancy
Member since
November 2014
On-time repayments
210 installments • 14%
About Me
I am a 28 years old Graduate of a Bachelors degree in Commerce. I am the first born in a family of three. I lost my father 12 years ago when I was just completing my high school and since then life has not been the same for my mother and my two brothers. One of my brothers who is the second born aged 25 years suffered from Downs syndrome when young schooled in a special needs institution. the reality in my country is that special needs schools are very expensive and all through my brother's journey has been financially and emotionally draining for my whole family ever since my father passed on.
As the first born I had to step up and it is this that has driven me to follow my passion by starting small business to make an extra penny to support the family. Being passionate about Fashion and Beauty, I started a small business that sells second hand ladies' clothing. I started out my business in 2014 where I spent majority of my time doing the sales whenever I was out of class so as to support myself at the University and also support my family.
My Business
First and foremost allow me to thank Zidisha community for believing in me and lending me finances to start my small hawking business. The journey has not been easy but I thank God for the far that I have come. I started off my business in 2014 while I was in campus by hawking and selling inner wears for the ladies part time while studying for my degree. My business originally was on the sale of ladies inner wears from 2014 to 2017.I used to sell outside my campus in a shade and at times I hawked within the university and this greatly reduced the operation costs since I did not pay any shop rent.
On average I made sales of up to 35 USD daily of which 20 USD is profit that is good enough to at least sustain me at school and also I save up to held my mother pay my fee.
Currently, from 2018 to date, I managed to expand my clothing business from ladies' inner wears to all kinds of ladies clothing from dresses, skirts, trousers and blouses. Additionally, I managed to rent a big shop space that can accommodate both the ladies clothing and ladies saloon. By doing so I was able to create employment to two ladies hairdressers paid based on commission who work in my shop while I sell ladies clothing.
My struggle now with the current economy is that am in need of a loan to finance stock of hair braids, hair accessories and also stocking of ladies clothing.
I believe this is the right platform to help me continue growing my dreams to not only better my life but also the lives of others around me by creating more job opportunities.
Loan Proposal
Due to the increase in demand, I now seek to venture in the sales of men inner wears including vests, panties and boxers. I am also looking to expand the business by opening up another place to sell so that i can target a market at the neighboring university that I have identified. This will call for me to double my stock at the moment which is worth USD. 120 to a total of 250 USD.
For all the clothings that i buy in bulk, i anticipate to make a profit of at least 70% in the prevailing market price. However, with the festive times approaching, the spending of most people increases and so i want to be ready for that and can make a profit of up to 100% during the festive period. I also target to sell in the estates and around the towns since the University may be going on recess so i have to take the commodities to the clients. to achieve this I need an extra income for the capital. i hereby appeal to the Zidisha fraternity to assist me to finance this.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Nov 17, 2014
Repayment status
On Time
Projected term
2 months
Other loans
Lenders
France
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