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It was not long ago when IBA student, Shah Aun Hussain, was inspired to set up a mobile food stall in a Qingqi rickshaw after he visited China for a leadership training conference in 2011.
“I saw fried ice cream actually being sold on mobile units,” he recalled. “That kind of ice cream is not available at many food junctions in Karachi. Only a few places offer it but that too for Rs300 or Rs400 for a couple of scoops.”
In February this year, Hussain, who is now in his seventh semester, replicated the idea at Jami Commercial in DHA Phase VII by offering high quality fast-food products at reasonable prices. His cart paid special attention to detail on service, presentation and staff. The entrepreneurship venture was an instant success with its low-priced peri-peri chicken, hot shots, zinger burgers and potato fries that were comparable to large food chains. Several of his customers claimed, in fact, that his food tasted better than larger food brands.
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“I did spend a great deal of my time and energy to formulate the recipes of my own and did not just copy them from here and there,” he said, adding that one of his workers was offered Rs20,000 by a famous restaurant just to share the recipe of Pom Frites’ peri-peri chicken.
The premiere unit marked average monthly sales of Rs150,000 with around 50 per cent net profit on sales, as well as, fulltime employment opportunities for four men. The success boosted the self-confidence of the young entrepreneur and he mustered up the courage to present the expansion proposal to IBA’s Centre for Entrepreneurial Development (CED) head, Dr Shahid Qureshi.
“Son, you have got five minutes to share your thoughts, following which I will provide you my feedback in two minutes. I have to leave,” he replied when Hussain approached him. Dr Qureshi believes that if you wish to become an entrepreneur you need to forget everything that has been taught to serve the corporate world during your Bachelor’s of business administration. That prepares the mindset that leads 99 per cent of the students for nine-to-five jobs.
Hussain’s five-minute conversation led him to sign an agreement with the IBA-CED that enabled him to open up his second restaurant inside the campus. “According to the agreement, the centre will be responsible for 40 per cent of the investment against 25 per cent equity,” Ahmed Adeel Zai, a programme manager at IBA-CED, told The Express Tribune.
“Our young graduates have the potential to become job-creators instead of losing their identity by becoming a part of the workforce that serves the corporate world. They should struggle to become employers for the society rather than becoming employees for the society.”
For this reason, according to Zai, IBA-CED was envisioned to play a strategic role in promoting entrepreneurship in the country and to create a new breed of youth and professionals who believe in recognising opportunities recognition and creating new ventures. The centre, at present, has been facilitating 12 entrepreneurial projects, which are at different stages of maturity, while another 12 projects are in the pipeline, he added.
Meanwhile, Pom Frites at IBA has been marking sales amounting to an average of Rs15,000 a day since its launch on October 28. “Such a business opportunity inside the IBA premises has never been allowed before,” said an excited Hussain. “A venture with a start-up investment of around Rs170,000 can do exceptionally well within a university.”
Published in The Express Tribune, November 6th,2013.
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