Stocking of new brand of shoes for the rainy season
Handson
Nairobi, Kenya
$0 to go
100% funded of $616 goal
0
days left
Entrepreneur
Name
Handson
Member since
October 2014
On-time repayments
136 installments • 85%
About Me
I am a self-motivated young man who believes that nothing in this world is impossible. I grew up in western Kenya, where I also studied and successfully completed my O-levels. I am the 3rd born in a family of eight. After completing my O-levels I moved to Nairobi to look for employment as I could no longer depend on my parents, who had to pay tuition fees for my younger siblings. I struggled for a while but soon got a job as an attendant in a local boutique shop. This is where my fascination with women shoes started. I worked there for 18 months, on meager salary, and managed to accumulate some small savings that enabled me quit the job and open my own shop selling women shoes.
My Business
My business involves selling women shoes. I stock mid to small range types of shoes, which are affordable to most women in my neighborhood. The business is season dependent. I register most sales during the months of December, January, April and August.
I specialize in women shoes because, unlike men, women, even in my relatively poor neighborhood, like buying more and more shoes, which means that they is always demand for my products.
In the high season months, I average weekly profits of about 100 dollars whereas in the low season months, I average weekly profits of about 30 dollars. My typical monthly expenses are as follows: business premise rent of 50 dollars, my personal living expenses of 80 dollars and other miscellaneous expenses of 30 dollars.
Loan Proposal
Let me start by thanking the great lenders that have stood by me throughout this amazing journey. I appreciate your gracious attitude towards my cause and I always strive to work hard to be a responsible borrower because this will give you the opportunity to help many other small entrepreneurs around the world. I have been able to sustain my shoes selling business although life has generally been tough in Kenya to due rising costs of essential goods. With this loan, I plan to add to my current stock of shoes as well as add more brands that will be convenient for women during the current rainy season that is just starting. I also plan to start selling women sweaters, pullovers and scarfs that will also help my clients keep warm during the rainy season. I plan to add to my stock as follows:
-Current Brand of Shoes that am selling -KES 20,000
-Women Boots and Gum Boots- KES 30,000
-Women Sweaters, Pullovers and Scarfs- KES 10,000
As you can see, I will be starting a new line of products with the sweaters, pullovers and scarfs that I hope will compliment my existing products and give me the chance to upsell to my clients. I will be sourcing for second hand goods which will allow me to sell at cheaper prices that will hopefully encourage my clients to buy more. For the Boots, I live in an area that is not tarmacked and because my client base is women, they will appreciate the chance to navigate the mud without soiling their relatively more priced or delicate shoes.
While I expect the business to pick up as soon as I restock, I have set my repayment installments at a level that I can manage comfortably based on my current sales and profits. Once again I hope to gain the favor of you great lenders.
Thank you in advance for believing in me, and I promise to repay the faith.
Kind Regards,
Handson
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Loan Info
Project Type
Classic Loan
Disbursed amount
$616.00
Date disbursed
May 21, 2017
Repayment status
Late
Projected term
4 months
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