Mobile phones shop expansion

Entrepreneur

About Me

I am Isaac Asare Boahen from the family of Freeman Asare. I am the last born of nine siblings. I have Bsc.mechanical engineering from Kwame Nkrumah university of science and technology,Kumasi-Ghana.I always believe that success is for those who have the power to persist in other to make it happen.I remember at my final year at school,thing were very hard to pay for my tuition fees.I went to talk to a friend to tell him about it,he promise to help me but later ask how I am going to pay him.Since I dont have any souce of income,I thought of starting something which will help me pay my friend and also fund my project work.I went outside campus to one big phones shop to meet the manager,I gave him my business of getting into mobile phones but done have the capital now since I am a student,he was happy that I want to start a business whiles in school. He asked me to make a copy of my student ID and submit it to him.I did it the next day and the journey of my dream business started. He gave me five phones to start, I sold them on campus and went to pay him,he gave me new one and this time seven phones. I understand business startup to be trust start not capital to start. I now have a shop at the eastern of Ghana. This is a business area where I want to grow my business to a whole shop. I want to prepare myself financially so that i can build a good career for my children and also help the needed in my community. I love football,swimming and reading business books and financial market news.

My Business

I have a mobile phone where I am making close to $200/week. Due to the high demand of this items in my area,there is a need as a businessman to sort for funds to increase my supply. All the businesses at the area travel to accra,the capital city to buy stock for their shop.Which will be ideal for a wholesale shop at the area.The phones prices ranges from $50- $300 and profit magine ranges from $5-$35. I Reinvest this profit to help me build my wholesale shop dream.

Loan Proposal

Have plans of expanding my shop to a wholesale shop,with the support of this fund from zidisha community,I will be able to achieve my 2years goal.Below is a breakdown of how the money will be used.construction of showcase for phones.
Item price
glass $70
Frame $20
Rivets $10
Labour $10
Total $110
This loan support will boast me in preparation stage for my shop expension.My goal is that,by two years from now,I can stock my shop with 1000 phones of which I will make a direct order from U.S.A. I am hoping to employ five shop attendants and one cashier from my community with this expension project. By the end of this expansion project,my business is expected to increase with 25% profit and 40% customer rate. I am appealing with zidisha community to make this dream happen. Thank you

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