College friends turn thesis project into actual business

CEBU, Philippines - Cebu’s promising nightlife industry has prompted a group of friends and classmates to realize their thesis project into a business.

These young entrepreneurs, who were then outgoing college students from the Center of International Education (CIE), have made their major school requirement a reality, after sensing the good opportunity for business in the nightlife sector.

The group of seven friends led by Christian Buhisan, introduced another nightlife destination in Cebu called “Barcode”, operated by the friends’ newly created company—Black Suites Lounge Inc.

With borrowed capital from parents, these young entrepreneurs pooled their resources together and invested P3 million to start the bar operations, initially attracting their circle of friends late last year, now the bar is regarded as one of the nightlife destinations for sophisticated partygoers in Cebu.

“This happened by accident. We were only doing the business plan for our school requirement. But then, we see the potential of making it real, and the support and confidence from our parents pushed us to go into the ‘real world of business’,” said Buhisan, who sits as the company’s president.

Barcode has been operating in the last few months, located on a 260 square-meter posh building along the Archbishop Reyes Avenue.

According to Buhisan, despite the increasing number of nightlife joints, resto-bars, clubs, among others, their project study revealed that Cebu still needs wider choices of nightlife facilities, specifically those that attract the higher end market and lure the younger generation.

Just like other developed urban centers, the Cebu market is now ripe for nightlife business, provided that it understands the trend of the party-goers and identify the kind of market or customers they are attracting.

For Barcode, the drinks, and ambiance and the facilities are primarily designed for the discriminating sophisticated young party-lovers, although it has maintained a wholesome image when it comes to “clubbing.”

Partying after-all he said is a universal trend not only for young-individuals, but also to those out-going people wanting to relax and de-stress after a long day.

Barcode offers wider choices of drinks, from local to imported beers, and also boasts for its good food menu choices.

Buhisan is joined by six other friends, namely; Benedict Lim, Uco Trotin, Ariel Louise Lua, Christian Yap, Jefferson Tan, and Jan Gabriel Melgo.

The long-term plan of the group, is to expand the “Barcode’ brand in other urban, and tourism destinations in the Philippines, such as Boracay.

However, at this point, these young entrepreneurs are still focusing on proving their business ability especially to their parents.

Buhisan said the group is confident to get its return-of-investment (ROI) in the next 18 months.

The group, joined a few young Cebuanos who are considered as innovators in the business landscape, tagged as individuals who embrace the trend of “turning Bisyo into Negosyo." (FREEMAN)