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35 signs a business is about to become a hit (Part 2)

Read more 'finally!' moments of young entrepreneurs
By Entrepreneur Staff |

Here's  the sceond part of 35 signs a business is about to become a hit


thumb_up_441938_640.jpg12. When we got a space in the mall

“When we were awarded a space at SM Molino. Once you get into SM, doors will open for you.”

- Darren Go  was 25 when he and his then girlfriend (now wife) were granted a franchise for the De Original Jamaican Pattie Shop, which they put up in Central Binondo in 2003.

Although  marketing the product to mainly Chinese clients was challenging, Go said he persevered and even went to the extent of putting out press releases in Chinese newspapers and flyers with Chinese characters.
 
“The good thing about the Chinese was their willingness to try anything once, and most of them liked the product so much they would even buy my patties in bulk,” Go said.

Afterwards, Waffle Fun happened “by accident” to the couple. They originally wanted to put up another Jamaican Pattie Shop at the University of the East but changed their mind when they saw the market couldn’t afford the product.

However, they refused to let go of the concept, noting the campus was host to a huge number of students.

“We went back to the drawing board to think of a masa concept, and that’s when the idea of selling waffles came to us,” he said.

Finally in September 2004, Go and his wife opened their kiosk  at UE, which outsells other outlets.

13. When a bank trusted us with a loan

“It was when we secured the letter of credit from I-bank. It allowed us to shift our arrangement with the mother company from consignment to outright purchase. It was a big thing for us to discover a bank that was willing to gamble on a small start-up like us.”

- Anne and Freddy Gonzalez were in their early 20s when they were granted the right to become an exclusive Havaianas distributor in the Philippines.

The idea to import Havainas came to Anne and her sister after a vacation in Hawaii and thought that despite the Philippines being a tropical country, the market was lacking in better-looking and better-branded slippers.

Freddy, who was then a still boyfriend of Anne, surfed the Web for Havainas.

“Freddy sent them an e-mail and they responded within two weeks. Everything moved forward from there,” Anne said.

Terry S.A. became the exclusive distributor of Havaianas in the Philippines and from then on has been known as the product that “hews closely to the [Philippines’] casual culture.”

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Page 2: Prime location and raves


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