Young franchisee gives fresh business insights for new graduates

MANILA, Philippines - While landing on a job prospect immediately after school is the traditional route taken by most of newly graduates, more young adults are seeking out solo business opportunities as an ideal vehicle for financial independence and success: some eager to start from scratch, while others dare to break ground on turn-key ventures, like franchising.

Twenty-seven-year-old Ivan Kenneth Taw is one of those who proved that age and lack of experience are no hindrances in finding and fulfilling one’s ambition, as long as you are determined to become successful in your chosen career path. 

Taw, a BSBA-ISM graduate of College of Saint Benilde, worked as a marketing professional for Toyota Pasig in 2009. But after two years, he decided he can do more as a solo business owner, so he shifted his gears to try his hand in franchising. After a lot of self-assessment, research and encouragement from his family, Taw partnered with 7-Eleven and opened his first C-store store in June 2011 located in Washington Street, Barangay Pio del Pilar, Makati City. 

“I chose to pursue a business which I knew I will really enjoy and one which I think I can manage on my own. My parents helped me finance the business. Even with little real-life business experience then, I didn’t hesitate to apply for a franchise knowing I have a winning attitude, a certain maturity and determination to learn the ropes as the business progresses,” he said.

The classroom training, Taw added, helped him a lot as this gave him an overview of what’s and how’s of proper C-store management, like supervising, basic HR coaching, and sales monitoring  that are very applicable in analyzing actual business situations and challenges.

“The reliable support system allows me to work on my own, without entirely being on my own. It gives me ample room for error,” he noted.

 As an internationally renowned brand, 7-Eleven’s franchise package offers suitable franchise partners a unique opportunity to benefit from a proven system and ongoing support. Apart from one-month preparatory training, partners are lent with assistance especially at the first crucial stages of operational transition.  7-Eleven, through Philippine Seven Corp. (PSC), the exclusive licensee of the brand, ensured that newbie franchisees like Taw will develop the mindset and knowledgeability that will prepare them for the business.  

In just a short period, Taw has rightfully earned himself a bright spot and future as a franchisee. His investment paid off and “doubled” so to speak, as he now operates two C-stores: the three-year-old outlet in Makati and another located in Tune Hotel along A. Mabini Street, Malate, Manila.  His extraordinary progress in franchising also inspired his cousin to operate his own 7-Eleven C-store located also in Makati.

“Managing your own business is no walk in the park, in fact it demands more from you, like time, money and supervision, unlike having an 8 to 5 job where you work and get paid for your spent hours. It’s challenging, but I am relishing my independence and fulfillment,” he said.

While buying into a franchise eliminates a lot of risks associated with start-up business, Taw is quick to point out that there is no fool-proof success in any investment. “It takes 100 percent inspiration and perspiration. You still need to do a lot of hard work, have lots of discipline and patience.”

“Newbie graduates should bear in mind that whatever motivation drives them to pursue their own business, whether it be for personal satisfaction, financial gain or just enjoyment, the amount of love and attention you pour into your business will be reflected in the success or failure of your chosen business. You should possess an incredible drive that outweighs the fears of pressure and taunting challenges that come along the way,” Taw added.  

Besides fully committing yourself to your chosen business, Taw also advised aspiring franchisees to relentlessly pursue their dream business success. “Graduates who wish to try their luck in franchising shouldn’t jump on the bandwagon of investment offers, as most are short-lived fads. Do your own research. Know the company, believe in the brand, and consult a lot of people with experience to acquire more objective business insights,” he stressed.     

Most importantly, a good final advice that Taw can give for those who are really considering a franchise for a business, is “to have a thorough and honest assessment of your capabilities and realistic goals that match your choice.”