This college student means business
Print Edition
While Lu Yaodong, 22, is still a sophomore at Shanghai Institute of Technology in Jiading, he already has years of experience in business under his belt.
Lu, from central China’s Henan Province, has been interested in business since he was a child.
In junior high school he sold electronic products while other children were taking extracurricular lessons.
During the weekends, he replenished his stock and set up a stall in front of the school’s dormitory.
At first his schoolmates made fun of him. However, with support from his parents and his teachers he soon began to make money.
In his senior high school, Lu found that boarders couldn’t find anything to eat or drink at night before they went to sleep.
So he set up 26 snack chain stores outside the dormitories in his and a neighboring school.
During the summer vacation in grade three, Lu set up an education training school during the summer due to a lack of educational resources in rural areas.
The training school attracted many college students and teachers in local schools.
“After renting classrooms I didn’t have a penny,” Lu recalled. But he hit on the idea of borrowing desks, chairs and other facilities from local schools.
“I didn’t expect that the schoolmasters would support my idea, so I solved the funding problem and recruited 162 students for the first session,” Lu said.
Now the education training school in his hometown is still open and running at a profit.
After entering Shanghai Institute of Technology, Lu had the idea of setting up a campus supermarket and discussed the idea with his tutor Song Bohong. Song supported him by completing a business plan.
In April 2015 Lu established the brand of School Boss, set up a website and a WeChat public platform.
So far the supermarket chain is in 36 schools in Songjiang, Lingang, Nanhui and Jiading and is showing a profit of more than 600,000 yuan.
At the beginning of the year the School Boss brand attracted investment of 2 million yuan (US$304,000).
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