A younger take on business retail

SAHARA SHARMA KATHMANDU, Oct 16: For him, every day is a busy day and even more so this festive season. As he explains the comfort offered by a particular brand of shoes to a customer, he manages to offer seats and drinks to another group who are just entering. This is what he does everyday and he ‘loves it.’ Mayjan Rai, 26 remembers dreaming to one day have his very own show shop while gazing at the soon-to-be built ‘Peoples Plaza, in Khichhapokhari for hours.  Mayjan is the owner of Foot Locker, a shoe store that sells men’s and women’s shoes. He started his business three years ago. He had maxed out his savings, received less-than-cooperative advices from quite a few banks and then turned to his friends and seniors in college and managed to secure a small amount of loan. That money, however, was nowhere near enough. Although extremely nervous, he then, had a talk with his parents who finally agreed to lend him Rs 1.5 million after a few days of discussions. But even then, standing in his almost complete shop, the commitment for him was starting to feel uncomfortably real. “Initially the risk I had taken seemed too big,” says Mayjan. Currently an undergraduate student he recalled a lesson learnt in class ‘higher the risk higher the return’. Mayjan with the help of his friends rented the space and renovated it. “I personally did the decorations,” he smiles adding “It was a whole year of wait for the plaza to complete.” Finally the day had come and Foot Locker was open. “The feeling was overwhelming,” he exclaims. The racks at the shop are now stocked with contemporary favorites. The shop offers a wide range from sneakers to sandals and formal shoes for men and women. It was just a matter of two short years that the shop was able to pay off not only its debts and open another store. ‘Track and Trial’ Mayjan’s second accomplishment stands right beside it. If everything goes according to plan, Mayjan, a Dharan native plans to open not one but a few stores around Dharan and Itahari in the next few years. “I have support from a lot of friends who interested in investing” he claims. Mayjan is an example of many young entrepreneurs who are changing the scene in the local market. Wander into any urban looking clothing, accessories, bags or shoe shop in any of the malls around the city or shopping areas and you realize the fresh and young faces behind the counter are not just working there but they own the shop. While many of them have been in the business for the past few years there are more stores every season. The numbers are only increasing. Ask them what lures them and the answers is almost unanimously the same: we don’t want an eight hour job slaving in a cubicle. “When something gives you so much financial and personal independence why not,” exclaims Anish Maharjan. Anish, 26, owns the shop HangTen at the City Center, Kamalpokhari. Although it’s tempting to assume that he must have began only a few years back, Maharjan already has seven years in the business. Inspired to start his own shop, after being unable to find clothes of his comfort around town, his shop is must stop for many. “Being young myself I understand the kind of clothes my customers want” he says adding “my shop only caters to the youth and the market is not small.” Anish began while in grade 12. Back then he would help around in his elder brother’s store. “I knew I would have my own store one day,” he recalls. Although not new to the field he shares that getting started was tough: “It’s definitely not as easy as it seems.” Currently a Management graduate he plans to take a break. “I am concentrating on opening a few more outlets at the moment,” he shares. These young entrepreneurs share more than the energy, optimism and go-get attitude that are synonymous with young age. They seem to be thinking benefits for the youth of the country as whole. These young owners have employees of similar age. “We are all aware of the lack of job opportunities in the country so why not help each other,” says Mayjan and Anish agrees with his contemporary adding “It’s also a benefit for the owners and the customers as the communication becomes easy.” These fashion retailers might not be the best experienced ones in the field but they have millennial energy to spare. Pranjali Singh the 24-year-old designer of a clothing and accessory store ‘Una Pulma,’at Lazimpat, aims at inaugurating her personal store by next year. This Visual Arts and Business graduate from Sydney Australia wants to bring in to the market ethnic style with a fun and youthful touch. Very positive about her upcoming venture “The market is huge, you only need to be unique,” she says. Not all however is great with these young magnates. Anish shares how his shop takes away all his party time. Mayjan says “The festive season is my busiest time while all my friends enjoy leisure,it’s almost like I’m out of the network,” he exhales. Despite being a popular trend these days, all of them are aware that many stores fail within a year. Crediting hard work, edge over the others and commitment to their survival Mayjan is quick to add that ‘A failed entrepreneur is an experienced entrepreneur.” The odds definitely don’t faze them much, it seems “I am doing what I want to, how many of us get that chance,” smiles Mayjan.