young entrepreneur : Really 'cool' way to become financially independent
The urge to be financially independent propelled J Sumanth Goud, 21-year-old final year student of Food technology to run a franchise ice-cream...
The urge to be financially independent propelled J Sumanth Goud, 21-year-old final year student of Food technology to run a franchise ice-cream store in Hyderabad
When did you start your ice-cream shop? I started the ice-cream shop, Scoops Ice cream Parlour, last year in September at Defence colony, Sainikpuri, close to Bhavan's Degree college. I chose the location near a college to attract students. I often found college students looking out for addas close to that area. I knew a shop here would surely make profit.
What inspired you to start your own ice-cream store? I wanted to be financially independent. The idea of starting a business struck my mind while I sold hand-made chocolates in the college. I was supposed to do an internship after my fourth semester exams, which I failed to do. So, my HOD asked me to prepare chocolates and sell it in the college. I did so. My chocolates were a hit among students and lecturers. I made a little profit there. I got many suggestions from my friends and family on which business to choose, but I chose to open an ice cream parlour. Ice cream is something which everybody loves to eat irrespective of their age. Above all, my love for ice cream made my thoughts firm about opening one. Initially, my father did not agree with my decision, but eventually he did.
How much was the initial investment? My overall investment was around Rs 2, 50, 000. I had to deposit Rs 1, 50,000 in the Scoops company to get a franchise from them. I gave Rs 80, 000 as the advance amount for the shop and Rs 20, 000 for the interiors of the shop.
How do you manage to juggle studies with business? It is not tough. I have a hardworking employee who takes good care of the shop in my absence during the day when I am off to college. Once, I am back from college, I work at the shop.
After graduation in Food Technology, do you wish to expand your business or plan to quit and follow a different path? I will continue the business and at the same time I will go continue with higher studies in Food Technology too. My education helps me understand the business better.