Friday, November 15, 2024

I opened my Nakuru business with Sh. 1 million capital, took 6 months to break even

I opened my Nakuru business with Sh. 1 million capital, took 6 months to break even

Purity  Okumu is the founder and director of Lavycure Nail Spa, located in Nakuru along Kenyatta Avenue. The business specialties include but aren’t limited to specialized nail treatment techniques, facial treatments, makeup services, and home beauty services.

There’s always opportunities to be found in chaos and the 2020 pandemic was no exception. Having worked in the Middle East for quite a number of years in the guest experience sector, deep down I always had a passion to own a Spa like my mum did. I desired to become an entrepreneur and continue the business legacy for my family.

As the country emerged from the pandemic lockdowns and work-from-home policies, I felt that many people would be eager to treat themselves in order to shake off the dullness of the pandemic. I decided to venture into the beauty industry. On 9th January 2021, I opened the business with a budget of Sh. 1 million as startup capital.

Co-Op post

It took us 6 months to break even. Nakuru City was a new market for us. In addition, I realized that change can be difficult in a new market, and trying to bring in new concepts into an already settled market comes challenges. I thank God that down the line, I’ve been able to build an amazing clientele through both first-time customers and referrals.

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I am a Hotelier by profession with years of experience in customer service in Middle East. Having had first hand experience in management in the Middle East greatly bolstered my confidence and skills required to start the business from the ground up.

Despite breaking even in half a year, I faced some startup challenges too. When I was looking to get started, I purchased the spa’s equipment and furniture before sourcing the business location. By the time I got my business location, I had more furniture than it could hold.

NCBA


This wasn’t the correct way to get started. Startup capital and location should have come first. If I could start all over again, I would select a location that can accommodate more facilities like parking which has become a major business selling point.

I have formulated my finances to revolve around SMEs However with a number of financial institutions. This gives me an edge in accessing and utilizing financial products and services designed for small and medium businesses. If I needed business financing, I can now access it easily, same as SME training programs.

Entrepreneurship is not for everyone. It requires grit and tenacity. However, having been in employment and now in business, I would advocate for entrepreneurship as the better creator of wealth.

You get to be your own boss, you enjoy both small and big wins and learn from your own mistakes. If you have enough grit, it will open a whole new world of networking you would never have been exposed to under employment.

There are three things I really believe in. First, don’t be afraid to take risks! Nothing great was ever done by someone coloring within the lines and playing it safe! Secondly, invest in yourself; learn your craft and become the authority in what you do.

Nothing boosts the confidence of clients like a boss who can roll down their sleeves and get stuff done. Third, let your money work for you not vice versa. Make smart investment choices and never forget to pay yourself!

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