I am Beatrice Mwaore. A designer and a tailoring expert. Until recently when someone introduced me to Maven CORE, my business has been an upward struggle without making any progress. I am delighted to submit my proposal in order to promote this business.
Budget Breakdown (approx)
I make unique industrial safety gloves that are special for handling extreme hot items. Through your fund I am sure, I will diversify my business to be able to produce a variety of quality safety gloves and other safety clothes for industries in Nairobi and markets across the country and abroad.
This project, under the name of BEGSOFT Designers aims to improve and expand the production of various models of safety gloves, in order to reach a wider market locally and overseas. As it expands it will create job opportunities to some youth and women and improve their economic and lifestyle status. I do my current business at home within a very limited space and under a difficult condition due to lack of proper machines and capital.
This Project will enable me produce quality products to attract many manufacturing industries in and around Nairobi as well as the super-markets across the country. Through your fund my current customers will be more satisfied by the quick service I will be able to offer them, in terms of delivery time and above all – product quality. I will be able to explore more markets locally and abroad. Through your fund, I will be able to rent a specious workshop space and add two more workers to hasten production. Thanks to the fund.
My project aims at supplying these safety gloves across the country. Specifically, I will target three primary markets:
- Large Manufacturing Industries in Nairobi, Mombasa and other cities
- Large Super Markets in Nairobi and other Cities.
- Access to high value global markets abroad for safety products.
With the diverse market choices above, you can be assured that your money will finance a project with realistic chances of succeeding because there are sufficient buyers.
Value for Customers
With this project, I hope to satisfy my customers fully in that I will have a variety of glove production. Thus giving my customers an opportunity to make better choices suitable for their type of work. e.g. Mitten glove style are a unique type that is lined with flannel material which is heatproof for handling extra hot items. We shall have long and short sleeves type, five fingers type, leather types and many more, suitable for any condition under which one is working. We shall have to import the plastic ones in order to increase the choice capacity for our customers.
At the moment, my product is single and consumed by one customer who is a heavy producer of glass products. Since production process in many industries involve handling extreme hot surfaces, my new quality products will take advantage of that situation and be able to exploit the market effectively.
Furthermore, unlike before, variety choice should no longer be a limiting factor to me and my customers. Also, in every manufacturing industry, there is always a need for safety products including gloves and clothes. And my products will always be at hand through your fund. My marketing will be through various medias available and will be able to supply local and overseas markets. Our sales projection for the first year will be around Ksh.1.2million and we project a growth rate of 10 – 15% per year for the first four years.
Project Cost Structure
My project is scheduled to succeed in that it will provide not only the needed quality, but also the needed quantity to satisfy customers’ orders. With new provisions of automatic sewing machines and over-locking machines and available textile materials, we will improve the quality to reach international standards.
Although my plan is to start with 3 machines, the business can scale up to even 10 or 20 machines as time goes. This will of course increase the cost of running the business which will form a significant portion of the budget. We will be needed to add more workers, spend more on textile materials and maintenance cost.
However, for the budgeted 3 automatic machines and 1 overlocking machine, the project can breakeven within the first year at a market price of ksh200.00 per pair. This price is fair, though at the moment we are selling at Ksh.160.00 per pair and get orders of 1000 pairs every month. There is a potential of doubling the orders to supply every month.
Presently, selling our products at Ksh.160.00 per pair leaves me with a profit of 35%. In next year production, the profits will be higher because the costs of machines will not be there and the quality will definitely call for a higher selling price.
This funds will help to achieve the following results:-
Achieve Improved quality of my products.
Achieve Improved quantity to satisfy market demand.
Achieve financial status and be able to eradicate poverty.
Be able to access high-value export markets with international quality products
My fervent prayer is that my Proposal will meet your favorable consideration. I must assure you of my continued efforts to manage my business profitably.