How Pinoy made millions from export overruns

ABS-CBN News

Posted at Sep 20 2015 11:43 AM | Updated as of Jul 26 2017 10:55 AM

MANILA – Ed Paras did not have a background in the garments industry, but his entrepreneurial mindset--and a bit of luck--made him a millionaire.

Paras is the owner of Paras Alter Station, a repair and alterations store with branches in shopping malls nationwide.

Before becoming the successful businessman that he is today, Paras grew up in a poor household, with the financial burden left on his widowed father.

“Minsan may panahon na talagang walang wala, ang pagkain namin minsan tuyo,” Paras told "My Puhunan."

Photo from My Puhunan Facebook page

Paras juggled studying and working in a fastfood restaurant to earn extra money while he was in college, taking up a course on electrical engineering.

After getting his degree, Paras immediately found a job in an office. Ten years later, however, and he still didn't have enough money to live a comfortable lifestyle.

Paras quit his job and tried to find success selling condominium units, properties, and cars. His luck changed when he began to venture into selling export overruns, or branded items that have factory defects.

“One time, may nag-invite sa akin na isang friend na mag-export overruns. Pinuntahan namin ang mga factories sa Pilipinas,”

Using P30,000 from his savings, Paras bought a few hundred pieces of overrun clothes and sold the items in Greenhills. He also began selling in bazaars, where he met a group of Korean investors.

The Korean businessmen brought some of his items in Korea, and he became their trusted supplier. Without even knowing it, Paras became a millionaire by selling export overruns.

“One time, I was surprised ng makita ko ‘yung account, I earned like P20 million. It was a big amount," he said.

Paras had made it. But a bigger opportunity knocked when he chanced upon an alterations business that was about to close down.

He invested P2.5 million to buy three branches of Alter Station, which he later renamed Paras Alter Station.

“Kinausap ko lahat ng marketing officers sa mall. I asked them na bigyan ako ng mga fa├žade banner, stand-in banners for promotion and customer awareness. Nag-take off na siya,” he said.

Photo from My Puhunan Facebook page

Paras Alter Station now has 50 branches nationwide, and seven franchise stores located in the biggest shopping malls in the country.

Paras said his flagship store can earn an estimated P150,000-P200,000 a month.

“Doon sa mga aspiring na na lay-off na mga mananahi, pwede pa rin kayong maghanap lalo na sa mga naghihirap ang buhay. Sipag, tiyaga at dasal sa itaas, everything will follow,” he said.

Through My Puhunan, Paras shared his blessings with Rhodora Bacit, a part-time tailor and sari-sari store owner.

Photo from My Puhunan Facebook page

Paras gave Bacit a portable sewing machine and complete sewing set to help her start her own alterations business as well as additional funding for her sari-sari store.