Thursday, October 3, 2013

Meet 28yrs Self Made Millionaire Who Once Sold Eggs

There’s nothing wrong with starting from way down the ladder and climbing your way up. If you love one of those stories that instill hope in you and let you know that there’s always light at the end of the tunnel, then this story will surely do just that.
Erick Kinoti is today the Founder and managing director of Shade Systems East Africa but where did he start? Who was he before? Where did he get the capital to start his own business?
Lets’ find out , shall we……
What kind of jobs has he done in the past?
In 2004 he worked as a cashier in Malindi. While at this job, he would travel across the country to source for eggs which he would later sell to tourist hotels .
But luck was not on his side after 2007 election. Eric relocated to Nairobi and found a job as a Sales rep in a bank and being and being blessed with a mind of an entrepreneur, he noticed a high demand for milk and began distributing the product on his way to his banking sales job.
How did he venture in to the tent business?
In an interview with Business Daily, Eric said that a friend of his approached him inquiring if he could provide him with a tent for a function and after engaging in the business for a while and seeing how booming it was he decided to give it a try.
How did he get the capital to start the business?
Eric Kinoti, Founder & Managing Director of Shade Systems East Africa
Eric Kinoti, Founder & Managing Director of Shade Systems East Africa
He has Sh60,000 to begin with but the money was not enough. He decided to approach a loan shark who did lend him Sh2 million which saw him start the company.
How old was he when he started the venture?
He was only 24 years of age.
Did he employ anyone or go at it alone?
Eric was able to employ only 5 employees at the time.
What does the company do?
Shade Systems East Africa manufactures and supplies military and relief tents, branded gazebos, restaurant canopies, car parking shades, marquees, luxury tents, wedding party tents canvas seats and bouncing castles across the region.
Who orders for these products?
They have supplies to Sudan, Somalia, Congo and Rwanda to mostly NGO’s and humanitarian organizations who purchase the tents for personnel and refugees.
What challenges did his company face when it was young?
Eric Say that being in the manufacturing industry, which is highly capital intensive, they encountered cash flow problems.
He also says that as a small start-up it was not easy to earn the trust of potential clients.  But they have overtime proved wrong the cynics who felt they were not up to the task.
Where does he get his raw material from?
The company buys raw materials from Turkey, South Korea and sometimes uses locally produced ones.
Who are his competitors?
His competitors include Kenya Tents Company, Kenya Canvas Company and Tarpo Industries.
How much is his company worth today?
Shade Systems East Africa is now worth Sh150 million
Who are his well known clients?
Some of his biggest clients are  East Africa Breweries, Toyota Kenya, the Department of Defence and Bata Company, among other respected institutions in the country.
What is his advice to upcoming entrepreneurs?
“If you want to thrive in any sector, observe what successful people are doing and come up with a more unique structure and strategy that will sell you to the public as a brand. When you imitate what your role models are doing, you limit yourself, be different.’’

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