Wellcode enterprises detergent production
Kennedy
Nairobi, Kenya
100% repaid
Entrepreneur
Name
Kennedy
Member since
May 2015
On-time repayments
55 installments • 15%
About Me
I am Kennedy Kyalo, born and raised in Nairobi Kenya, the Eastlands area which is basically considered a poor mans area.
I am a graduate of Economics from Kenyatta University, A holder of SAGE Pastel ERP Training certificate distinction from Kenya Professional College.
I was able to overcome hardship by making use of the opportunities life offered me through my education and taking advantage of merry-go rounds to save monthly.
I started by cosmetics shop in May 2015 since i was looking for a job at the moment and i had none, so with my Kes. 15000 i set up Wellcode Beauty shop in Komarock Estate Nairobi.
Nairobi residents embrace hard work and therefore Small businesses rake in alot of money due to the culture of hardwork
My unique past time is sharing ideas with people within my community and taking time to inspire those i can.
My Business
My business is a cosmetics shop and recently i ventured into second hand clothing trade .
For the past One month ( May 2015 - June 2015), the second hand clothes have been on high demand. Weekly I have been able to bring in new stock and I have realised a weekly turnover of Kes 8000. I chose this kind of business because demographically, the area has many women who are low income earners and also the availability of many beauty salons in the area.
My typical costs are basically weekly payments of rent, County council levies, electricity and cleaning expenses.
My turnover is able to finance these weekly costs fully upto a tune of Kes 3500 weekly, restocking upto a tune of Kes 2500, and an average profit of Kes 2000 weekly.
I use my profits to plough back into the business and save part of it to assist me in my daily upkeep.
Loan Proposal
I will use the loan to introduce a new product into the market.
This product is detergent for Home and Commercial use.
I purpose to venture into production of Liquid detergents. These detergents have been in existence for quite some time but i now want to focus on repackaging and distribution. I have done a survey within my area and discovered over 300 households prefer to use liquid detergents which are perfumed for doing laundry and cleaning washrooms, also over 45 car washing outlets are located withing this locality and have a preference for the same. So i plan to do it differently from existing suppliers, who do not package or brand the product. My main aim of branding and packaging is to build client confidence and ensure i supply quality products to suite client needs.
Also the loan will boost me greatly in initial marketing of my brand.
I plan to use the $96.22 that i have requested to produce 20 litres of detergent at a cost of $20.20, buy packaging bottles at a maximum cost of $15.15, Marketing and promotion at a cost of $10.10 , Distribution and sales at a cost of$20.20, Cash flow balance will be maintained at $11.47 and $20.20 will be used to build an additional temporary store for the manufactured product.
This will of benefit to the surrounding households since they will be assured of a quality commodity been brought to them at their doorstep. To me it will benefit me since i will be assured of demand of my product and hence growth of my business.
I expect to increase my profits up to a tune of 35% per every sale made.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Jun 17, 2015
Repayment status
On Time
Projected term
2 months
Other loans
Lenders
United States
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