MAGWA GENERAL TRADING (PTY)LTD
What does your company do?
Laundromat and Dry Cleaning business. Magwa General Trading started off in 2017 when it was registered as a general trading and was consulting in the environmental science fraternity. Over the years i had used my expertise especially because in the country that we are in there is high unemployment rate.
So when i could not get community service training for the Environmental Health Diploma that i had, i managed to get an entry job in the construction industry which overtime due to even COVID the industry economy became weak. I had to think out of the box and that is when i had an idea to start the laundry business, so it has now since started.
With the fund it would assist in the operational capital as the business is still in its development stages, so operating expenses are what makes the business not yet profitable. Also in the same breath the fund could also help in building an invoicing system, purchasing of cash register, branding of uniforms, employ and pay salaries of the second employee which i would like to employ.
What is your biggest success?
To have a space to rent, 3 washers, 2 tumble dryers, 2 CCTV and a generator.
What has been your biggest hurdle?
Our biggest hurdle is the high capital expenditure that we are incurring, from utility bills (water and electricity) which puts our business at loss. So i had made it a point that our water is going to be in tanks so i can purchase and by-pass the municipal bills, so i have 26 000L water tanks which i would like to fill. The business has not yet made profit and able to pay staff, rent, operating expenses, so i am working in the side just to support this business and be able to pay off the salary of the laundry assistant, buy water, electricity ad top-up on the laundry products.
I would also use the fund to make up branded uniforms and buy a cash register because for now we are using invoice books. Also rent a space for 3 months on the big billboard for advertising our business, because the flyers and business cards that we have is not doing us so much justice.
