Business: General Electronics Shop.
Location: Kenland, Nakuru.
Years in Operation: 8 Years.
Amount needed: $2,000.
When he set out to be a small-scale electronics seller, Reuben was fulfilling his lifelong dream. He had had a keen interest in electronics since he was a little boy in primary school. In addition, self-employment always sounded like something he would enjoy. He went all-in when he opened his shop eight years ago. Despite the space being quite small, Reuben utilizes it optimally. He has set out his wares neatly in an attractive yet easy-to-find fashion. His customers can quickly tell whether or not he has whatever they demand in stock. The business that he started with a total of $1000 now boasts of a stock of $4000 in value.
The small shop unit also saves him on rent expenditures. He has been in the strategic corner for all the eight years that he has been in business and is quite popular. His customers prefer his affordable yet good-quality items to those of his business rivals. The fact that they keep coming back is what guides him on what to stock. He is careful to stock up on fast-moving goods for he is well aware of the demerits of slow-moving or dead stock. His popularity in the neighbourhood is what led him to open an MPESA mobile money agency within the premises. The two businesses complement each other. It is a relief to him that there is no single time that both of the businesses are down. When the electronics bit isn’t making much profit earnings, for instance, the MPESA commissions save the day, and vice versa.
Reuben now seeks $2,000 from Moto Hope Capital to inject into both ventures. The MPESA business is doing relatively well and he intends to improve the cash float. This will allow him to make more transactions which will, in turn, translate to higher commissions hence higher profit earnings. While the other half will go towards the expansion of the electronics venture. He would like to extend the shop space to the adjacent unit. Doing so will avail him of more shop space for his next growth step. He plans to start selling wholesale to other retailers besides his regular loyal clients. He is focused on scaling upwards.