Vegetables and cereals for all time grocery
Fredrick
Oyugis, Kenya
100% repaid
Entrepreneur
Name
Fredrick
Member since
December 2015
On-time repayments
112 installments • 28%
About Me
My name is Fredrick Ouma Okwanyo from Homabay county Oyugis town, i was born in Oyugis town in the year 1994 . I attended Oyugis primary school from the year 2000 to 2008 there after joined Agorosare high school and sat for my KCSE in the year 2012 and obtained a mean grade of B [plain]
Finishing my secondary education was a problem, i had to work tirelessly hard in my mothers business of selling fish during holidays and weekends and sometimes evenings to resolve educational requirements. Another problem arises from my father as he was seek-ling. He actually ended dead when I was sitting for my KCSE examination.
I initiated a simple grocery shop when I detected there scarcity and that they were only available in the major shopping center . The residents had no option rather than acquiring these goods that far. It was a motivation to start the same in the estates where i stay and also since the passion that i had acquired in running my mothers business.
Where i live many people like natural food like vegetables and cereals hence this drive me to start this type of business.
Personally I would like a family that works together as one team in business, I expect my descendants to embrace good business ideas of profit making and proper understanding of the opportunity. in any ecological setup. I would expect them specialize in business profession in matters of education since there is scarcity of job opportunities so that in future they can be self independent without formal employment. Creativity is what I nature.
During my free time i do listen to gospel songs and watching football.
My Business
My business deals with selling of goods such as kales, tomatoes,onions, peppers and cereals for consumption. These goods are in demand since very many people like natural food and since food is a basic requirement hence they are on demand.
After realizing what people around were really in need of , i decided to start in of which it picked up so fast because i had saved very many from going long distance to acquire the goods.
My typical are as follows; kales-20 Dollars, tomatoes-25 Dollars, onions and peppres-25Dollars,cereals-50 Dollars and my total running capital is amounting to 120Dollars
I always add stock of 45- Dollars and do save 25- Dollars for emergency towards my business. The rest are used as running capital.
Loan Proposal
If my loan is funded I shall increase my stock by purchasing peppers, maize, onions and tomatoes. For peppers it will be 10 dollars allocation. For onions it will be an allocation of 5 dollars. Tomatoes will take 10 dollars. Maize will take the 25 dollars. The allocation of maize shall be slightly higher, this because the current market needs it most. Right now 65% of my profit comes from maize then followed by peppers and tomatoes which give 30% of the profit. Faster funding of my loan shall ensure that I increases the stock of maize before its demand decreases and this shall save on space for storage for quite along time, money will also circulate faster in the business thus faster increase in profit. I am targeting a profit increase by 45%, almost a double of the current profit. Increase in my stock will also save my customers from going upto town to get maize for flour, and tomatoes. This will save their time as well.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$50.00
Date disbursed
Jul 11, 2016
Repayment status
On Time
Projected term
2 months
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