We were at the Client's Party where we are the provider of Balloon decors and Photobooth. Its a very nice event where most of guests were professional adults. When its chow time, one of the guest called me and ask me to share the table with his wife. He said they cannot eat all the food in the table so he persistently asked me and my team to join them. We were shy and hesitant at first until the lovely host (our client) approached and asked us to eat with them. And so we ate the sumptuous lunch and in between exchanged a short chit chat with these guests. I never expected I will something from these strangers..
The learning started after I asked a simple question. The husband is working in Quezon City Hall and so I asked "Does your wife works in City Hall as well?".
He said "No, she's not working but she manages our business".
I said "Oh wow! what business do you have?".
He said "Scrap, apartment rentals and computer shop".
I said " YOU ALREADY!! (in my usual gay lingo mode) Its my dream to have a rental business. But it requires a big capital and that only means you are big time Sir!"
He just smiled.
Out of Curiosity I asked him " what is SCrap?" because out of the three businesses he have the term Scarp is very unfamiliar to me.
He explained to me the nature of the business that Scrap is synonymous to the term JUNK SHOP.. Its a business where they buy those that were deemed worthless like metals etc and sell it for a profit. To cut the story short, He shared to me how they got rich!
They only have P250,000 pesos in savings for their children's education and then their friend ask them to join the Scrap business. Although hesitant at first, (because this is the only money they have) he trusted his friend and lend the money with a promise of a monthly dividend. They got really lucky as this was the time of Beijing Olympics where China's demand for metal is really huge. So their small time business was one of the few where China imports metal from the Philippines. They buy second hand metals from destroyed warehouse and sold it to China. The business is very profitable as their P250,000 investment earned P192,000 monthly dividends and multiplied to P8,000,000 pesos!!!
From that money, he was able to buy apartments and set up a computer shop and the rest is history.
I will never forget what he said to me. They started from scratch, they got married when they he was 21 and his wife aged 20 with nothing. They did not finish college and just lived in a very small rented house. They learned that in life you have to be "madiskarte" (Smart), being just "educated" doesnt guarantee success. Learn to trust people but choose wisely who to trust. Do not judge people merely by their appearance as his friend (who helped them to become rich) wears short and sando on a daily business but his bank account is whooping with money..
His wife, though most of the time is quiet during the conversation told me to SAVE money.. whatever we earn in our business save it. Do not be little the Junk shop business because it may look dirty and smell awful but there's definitely Money in the Garbage!!
Just like any other meeting with strangers, we bid our goodbyes and exchanged numbers...
We may or may not meet again but the learning I got from them must be shared and so it is..
If you want to learn more about setting up a Junk Shop business, click the link below:
http://www.mixph.com/2008/05/setting-up-a-junk-shop-business.html
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