Hard Work and Investing Right Make an Entrepreneur SuccessfulApril 7, 2020
A resident of Titahariya-6 Hasanpur Banke, Ranu Singh Thakuri runs two businesses — PMP Sweets and Pancha Tara Food Products. His products have markets in Banke, Bardiya, Surkhet, and Dang.
Thakuri moved to India at the age of eight and got a job of a helper at a sweet shop. The twelve years he lived and worked in India was full of struggle and hardship. The owner of the sweet shop refused to pay him any salary saying that since Thakuri lived an ate at the shop he didn’t need any money. Once, he was even accused of stealing from the cash counter.
He often thought of returning home and starting his own sweet shop. He had learnt to make sweets and marketing from his boss. However, his weak financial situation kept him from following his plan. “Foreign employment is temporary; you have to return and work in your own country,” explains Thakuri.
Thakuri had the skills and the determination to run a sweet shop but he didn’t have the money to start a business; he’d come back from India with just INR 160 in his pocket. Thakuri who is a member of Shikhar Jadibutti Cooperative, took a loan of NPR 1 lakh from the cooperative to start his own sweet shop.
He started his sweet business with a shop PMP Sweet Shop in Banke in 2008. As his sweets started gaining popularity and his business soared, Thakuri started thinking of expanding his enterprise. To increase the market reach of his products beyond Banke, he registered a new enterprise — Pancha Tara Food Products.
He came to know about the Cooperative Linkage Model from the staff of Vijaya Laghubitta Bitiya Sanstha (VLBS) at Bageswori Branch. Launched under the partnership project with UKaid Sakchyam Access to Finance Programme, with the Cooperative Linkage Model VLBS provides high-ticket loans and other services to the members of partner cooperatives.
Thakuri took a loan of NPR 3 lakhs from VLBS, under the same model, to establish Pancha Tara Food Products. He used the money to buy several sweet making machines and added other necessary equipment like stoves and gas cylinders. Today, Thakuri has 18 employees – 10 female and 8 male – serving in various areas of production and sales. His wife also helps him in managing production while he takes care of marketing and bookkeeping of the business.
His struggling days didn’t end in India; establishing an enterprise in his village had its own challenges. Very few people supported him and many expressed doubts on his decision to take loans for business. “But you need to invest in the business before you start earning profits,” Thakuri points out. He has proved his naysayers wrong with his hard work and determination as he now runs two successful enterprises.
The monthly turnover of Thakuri is around NPR 5-6 lakhs and he has cleared his first loan. He has already paid 30 instalments of his loan from VLBS. In fact, he has applied for a loan of NPR 6 lakhs to start a bakery.
His plans for the future also including expansion to reach more markets. He is looking to train and employ more female staff and involve his children in the family business. He often encourages people who are interested in starting their own enterprise to take advantage of the financial products/services like the cooperative linkage model by VLBS. “I want people to understand that if you work hard and invest right, you can become a successful entrepreneur. Opportunity doesn’t knock until you build a door. People who understand the value of time and work persistently on their skills will certainly achieve success in life”, proclaims Thakuri.