A mobile shop in Bagha started with Tk 20,000: partner split, a Tk 3 lakh loan, then two branches
A businessman in Bagha, Rajshahi opened a mobile shop with a friend for Tk 20,000 while still a student. After the partner split and a big loss, a new opportunity let him open two branches, and he later expanded into other sectors.
A businessman in Bagha, Rajshahi opened a small mobile phone shop while still a student. According to Prothom Alo, while studying at Rajshahi University he liked the conduct of a shopkeeper he bought a phone from, and later opened a shop in Bagha with a close friend; together they invested Tk 20,000. That shopkeeper supplied goods on credit and later helped arrange a bank loan. A year after opening, the business was split with his friend and he fell into a capital crunch; he mortgaged a piece of his mother's land to a bank for a Tk 3 lakh loan. At the time he was dealing with all three mobile operators. At one point the business suffered a big loss. Then he got a new opportunity with one operator, made good profits, and opened two branches, at Banesswar in Puthia and at the RDA Market in Rajshahi. On a well-wisher's advice he later moved into a different sector and now owns two factories in the BSCIC industrial estate, making plastic bottles and cartons, while still holding two mobile and electronics shops in Bagha. Across all enterprises about 150 people work for him.
Lessons
- 1.A good relationship with a supplier can bring goods on credit and loan help, easing a new shop's capital pressure.
- 2.A partnership split causes a capital crunch; keep terms and each partner's share clear from the start.
- 3.Keeping several operator relationships open makes recovery after a loss easier.
We published this with the person's permission, without revealing who they are.
Discussion
Nobody has written anything yet. You can be the first.
