Ateneo Professor on Entrepreneurship
I was invited by a former college classmate, during our 40th year homecoming, regarding his business.
What is the life for him after his business of hotel in a major city in CL, ended when the lease agreement ended.
He showed me his property in a 5th class muinicipality and his plans for a boarding house and commercial complex where he will invest approximately 5 million. Will it be worth it? How is the risk.
While his property is in front of the market place, the business is dependent in a nearby trade school. When there is no school, there is no business.
So I advised him to: enter the business on a trial basis: lease the commercial property cheap; let each one build his sta ll. Each stall measures 3x5 or 3x6 meter, or lease the entire frontage for P25t monthly for a one year lease. Start small on a boarding house: 10 beds on 2nd floor of his house, and 20 beds on a shack renting for P1t per month per bed.
As with his other busiensses: pawnshop, financing and restobar, promotions, better customer service could be made to increase sales and revenues.
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