I’m Leah, a resident of Nakuru. I love kids and I want to set up a small shop selling Toys that entertain kids and save money for the parents. The moment I found MavenCORE I realized capital for my project is just “a reader away”
Budget Ksh 119,500 (approx)
MavenCORE raised funds privately for this project and released it to facilitate this project.
Kids just can’t get enough of toys – they are always interested in a new plaything right after getting a new one. However, most parents in Kenya don’t have that much disposable income to keep burning with toy purchases, especially considering most of those bought rarely last more than a few weeks. I believe second-hand toys are the answer to both the problem of Supply and Durability.
Another line of indispensable products is second-hand kitchen utensils. For a housewife, there is always something else needed in the kitchen, whether it’s a cooking pot, a unique serving spoon, a different sized plate, or even a pitcher to serve guests. However, the budget to stock the kitchen is rarely that big. Second-hand utensils in Kenya undoubtedly fill this gap by providing a cheaper source of highly durable items.
I want to start this business in Nakuru, Langa Langa estate, where there is a sizeable population of low and medium-income earners that could benefit from these items. I also have the contacts of direct importers of these items in Mombasa so I can get then at fair prices. Finally, I participate in community activities, including church groups, so I have a direct personal relationship with most potential customers. This project is, therefore, ready to go as soon as funding is available.
Women and children highly value the products my business will sell. While in most households, they are not the primary income generators; they drive most purchase decisions. My target population is the working class, and there is a sizeable number living within Langa Langa, who can benefit from second-hand utensils and toys from my shop. I plan to locate the shop along a busy street within the estate where potential customers can view my items as they walk to work or do their evening shopping.
Quality and Hard to Find Toys
Although my business offers items readily available in almost every shop in Kenya, the real value is affordability and durability of the products when availed as second hand. Unlike the new items sold in most shops, which are usually low-quality generics, the second-hand ones are high-end items used in Europe and the USA and discarded when the owners get newer versions – sometimes there are also “deadstock” items sourced from shops clearing out old stock. It is hard to find most of the items in shops selling new stock because their prices when new are beyond the reach of most people in Kenya except the very high-income earners.
To reach the target customers, I will rent a stall on a busy street within our estate where people pass by as they go home from work. Displaying the wares at the booth will help attract customers. Apart from that, I will also use social media for marketing the wares as well as marketing in person to the people from church and other groups that I’m involved in.
The good thing about the second-hand toys and kitchen utensils is their uniqueness in terms of quality and low prices. The suppliers are also limited, so it is hard for people without a direct connection to start the business. This unique set of circumstances puts me at an advantage to run a profitable venture.
Breakeven Within A Year
The business has minimal fixed costs, mainly the rent for the stall payable every month, the cost of furniture such as shelves, which is one time only, and business permits payable once a year. The costs of stocking up the stall and advertising will vary depending on how the business runs. The business is expected to break even within 7-10 months of operation.