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College grads put smarts to work by running business
By Xu Wenwen |
May 11, 2010, Tuesday
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RAYMOND Xu has a master's degree from Sydney University in educational psychology, but he gave up a well-paid consultant job to open a small fast-food restaurant for the white-collar lunch crowd.
He and fellow grads Lu Wenlong and Hu Jin, who has an MBA, run 100-square-meter takeout High Noon in southeast Hangzhou. It has been operating for around a year.
They are among a number of college grads in Hangzhou who decided to give up secure office jobs and strike out on their own.
They chose a simple, entry-level business with two goals - earning money and serving healthy, fresh, high-quality fast food.
"When I was an office worker, I hated my low-quality lunches," says Xu, who gave up a job as an educational consultant making more than 4,000 yuan (US$586) a month. "And I was bored," he says.
He and his fellow invested 100,000 yuan and employed cooks and delivery men - it's not a sit-down eatery, it's strictly takeout.
They have enlivened their menu with "Today in History" items, used QQ messaging as well as phone calls for orders and put their knowledge of psychology and business administration to work to assess their business and market.
The staff manual spells out staff responsibilities, they get customer feedback and regularly organize parties with regular customers.
Business is going fairly well, but in the first six months they lost money.
"Cooking high-quality fast-food" is their slogan and they dismissed cheap, low-quality food and leftovers. They buy superior oil, rice, vegetables, meat and other ingredients. They price their food competitively, around 8-10 yuan.
Gradually the customers came in sufficient numbers so they could make a profit.
"Choosing expensive materials was part of the reason we kept losing money for months," says Hu, who holds an MBA from Peking University. "And not enough people knew about us."
Their parents were unhappy that they had given up secure jobs to try a risky new business, and a low-status one involving manual labor.
"Though my parents expected me to be a psychologist or a teacher, I still wanted to prove I could make a business dream come true," says Xu.
He takes care of inside work like supplying groceries, taking orders and making daily reports on customer reaction. Lu, who graduated from Zhejiang University, is responsible for marketing and delivers lunches with other delivery men. He drops off menus as he goes.
At times they have been treated with disdain by customers, but they chalk it up to invaluable experience.
"We communicate with a lot of different people, so we learn a lot of people skills," says Lu.
"Being patient, sticking to our beliefs and seeing the big picture are important lessons we have learned," he adds. Lu holds a permanent office job but also helps in management.
"I now have created something from nothing, so I won't be afraid even if I become penniless," says Xu. "It's great to make something and be your own boss."
Now that business has improved they are developing new, more exotic dishes and creating their own beverages.
High Noon is not the only example of highly educated young people running low-level businesses.
VFour Food Organic Grocery on Fengtan Road is run by four young men who used to be artists, including two with master's degrees from French academies.
They, too, offer healthy food to local people.
"Sitting in an office and being employees is an option, but we young people have a goal of establishing our own business," says Xia Wei, one of the owners.
"Even though selling groceries seems simple, our store is distinctive," he says.
The shop that opened last July is expected to open another store this year. The four are improving their logistics and supplies of fresh food.
"There's a Chinese saying that 'ruling a big country is like cooking a small fish,' and getting the big theory of organic food down to Earth is great," says sociologist Gu Xiaoming of Shanghai's Fudan University.
"Some industries may seem very ordinary, but in fact they require complicated processes and require well-educated people willing to put their professional knowledge to work," he says. "They should be commended." Some young people with college degrees are using their smarts to open quality takeaway and organic groceries, small entry-level businesses with big potential. Xu Wenwen reports.
He and fellow grads Lu Wenlong and Hu Jin, who has an MBA, run 100-square-meter takeout High Noon in southeast Hangzhou. It has been operating for around a year.
They are among a number of college grads in Hangzhou who decided to give up secure office jobs and strike out on their own.
They chose a simple, entry-level business with two goals - earning money and serving healthy, fresh, high-quality fast food.
"When I was an office worker, I hated my low-quality lunches," says Xu, who gave up a job as an educational consultant making more than 4,000 yuan (US$586) a month. "And I was bored," he says.
He and his fellow invested 100,000 yuan and employed cooks and delivery men - it's not a sit-down eatery, it's strictly takeout.
They have enlivened their menu with "Today in History" items, used QQ messaging as well as phone calls for orders and put their knowledge of psychology and business administration to work to assess their business and market.
The staff manual spells out staff responsibilities, they get customer feedback and regularly organize parties with regular customers.
Business is going fairly well, but in the first six months they lost money.
"Cooking high-quality fast-food" is their slogan and they dismissed cheap, low-quality food and leftovers. They buy superior oil, rice, vegetables, meat and other ingredients. They price their food competitively, around 8-10 yuan.
Gradually the customers came in sufficient numbers so they could make a profit.
"Choosing expensive materials was part of the reason we kept losing money for months," says Hu, who holds an MBA from Peking University. "And not enough people knew about us."
Their parents were unhappy that they had given up secure jobs to try a risky new business, and a low-status one involving manual labor.
"Though my parents expected me to be a psychologist or a teacher, I still wanted to prove I could make a business dream come true," says Xu.
He takes care of inside work like supplying groceries, taking orders and making daily reports on customer reaction. Lu, who graduated from Zhejiang University, is responsible for marketing and delivers lunches with other delivery men. He drops off menus as he goes.
At times they have been treated with disdain by customers, but they chalk it up to invaluable experience.
"We communicate with a lot of different people, so we learn a lot of people skills," says Lu.
"Being patient, sticking to our beliefs and seeing the big picture are important lessons we have learned," he adds. Lu holds a permanent office job but also helps in management.
"I now have created something from nothing, so I won't be afraid even if I become penniless," says Xu. "It's great to make something and be your own boss."
Now that business has improved they are developing new, more exotic dishes and creating their own beverages.
High Noon is not the only example of highly educated young people running low-level businesses.
VFour Food Organic Grocery on Fengtan Road is run by four young men who used to be artists, including two with master's degrees from French academies.
They, too, offer healthy food to local people.
"Sitting in an office and being employees is an option, but we young people have a goal of establishing our own business," says Xia Wei, one of the owners.
"Even though selling groceries seems simple, our store is distinctive," he says.
The shop that opened last July is expected to open another store this year. The four are improving their logistics and supplies of fresh food.
"There's a Chinese saying that 'ruling a big country is like cooking a small fish,' and getting the big theory of organic food down to Earth is great," says sociologist Gu Xiaoming of Shanghai's Fudan University.
"Some industries may seem very ordinary, but in fact they require complicated processes and require well-educated people willing to put their professional knowledge to work," he says. "They should be commended." Some young people with college degrees are using their smarts to open quality takeaway and organic groceries, small entry-level businesses with big potential. Xu Wenwen reports.
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