My name is Jacinta Ndiritu. Am a business woman engaging in auto spare parts and accessories business. Located in Nairobi CBD.
Budget Breakdown (approx)
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My business is already running and I desire to enlarge my business to increase my sales and thereafter get a bigger profit. This will be realized if I manage to get the funding for this venture..I have been in this business and am happy to say its what I enjoy doing and would like to add more stock to it. I buy my stocks from China where I have several companies who supply to me and it has been a good business relationship with them.
The problem I would like to solve with this is to break that large gap between the end user and wholesalers.. There are people who would want to sell in retail but due to the large quantities demanded by the wholesalers for a single purchase ,they are unable to buy..I want to reduce a little bit in regards to the quantity one can purchase at once keeping the price in the market constant.
I think I can be the right person to get the funding because I believe in myself, I have been in this business and I guarantee its profitable, I already have existing customers who at the moment am not able to meet their demand.
The chances of success in this is high because i have ready demands and still more coming through referrals. So for me there is ready market for the goods.
My business is registered and have a premises so no need to hire or buy a new premises.
My main problem is lack of funds to add stock .
My stock will include:
- sparks plugs of all types and all vehicles eg. Toyota ,Nissan, Honda, Subaru, Mazda and all universal sparks plugs available in the market
- Oil filters of all types of vehicles eg. Toyota, Mazda, Subaru, Honda, Nissan.
- Air filters of all types of vehicles eg Mazda,Honda, Subaru, Nissan, Toyota.
With all this which I want to specialise in my business will be booming with great returns expected.
I intend also to create employment because I will employ sales and marketers, and shop attendants. will be both retailing and whole selling..the employees will be on permanent basis.
My target customers will be wholesale shops, retail shops, garages ,companies with automotive departments and regular walk in customers.
I reach my customers through social media like Facebook, WhatsApp. Through referrals by other customers, door to door visit in their business as marketing, direct approach to new prospects.
For companies I will be giving a 2- 3 weeks agreement on payment of a supply which can be increased as the business relationship continues smoothly or depending with the quantity supplied .or we can compromise on a payment duration and mode which will favor both parties. There will be room for dialogue and come up with the most appropriate means.
With retailers, this is on cash basis at the shop counter, which can also be paid through mobile money.
With wholesalers, we can also come up with an agreement on the payments this I intend to make it a week only. That the longest they can wait to clear their payments
For garages, we sell cash or they pay by the close of business for the day.
I keep my customers by
- Selling good quality products
- Listening to the needs and concerns of the customers and changing where necessary
- Free delivery to customers by courier services or bikes . I pay for the cost on that to either garages or company. Or walk if its near my place of work.
- Always keeping in touch with the clients though calling or text messages to know how they are fairing and if the have any problems with our goods.
- Once in a while we give offers to our loyal customers.
- We give discounts on large quantity orders.
- I also visit my customers especially those who are close to me.
- I also alert them on new products available in the market.
- I also search for them what their customers need if they don’t have on request.
- If there is a new product I come across in my sourcing, or introduced to me by my suppliers, I buy as sample and show to them on their approval I can import for them. I do import on order even if its one item which does not need to be in stock due to lack of demand.
My source of revenue is solely in this business and its a guarantee 80% profit on this items. With the ksh 700,000 funding it will be able to give a profit margin of 80% profit in this case the profit will be ksh 560,000.
This can be realized at most within 5 months. The goods are fast moving and on high demand. That what has really motivated me to venture in it this time with large stock if I get the funding.
With this funding which I pray and hope I will get, my business will be great than it has never been.