Business Mentor: A look at the life of a millennial entrepreneur

Armando Bartolome

Posted at Jul 27 2019 08:16 AM

Business Mentor: A look at the life of a millennial entrepreneur 1

I met a millennial entrepreneur two years ago who just started her salon business. Ricel May Veneracion was a bit wary that time since she was not earning as much as she anticipated. She even thought about just selling her business.
 
But instead of closing the business, she took another chance by reinventing the salon. That was how the first unicorn-themed spa in the Philippines began.

Veneracion Beauty Salon & Spa, with its unicorn theme, was a hit. It catered not just to women who wanted their nails done, it also offered mini-events like bridal showers, baby showers, and mini birthdays.

Be inspired by this millennial entrepreneur and super mom.

Business Mentor: Who is Ricel May Veneracion?

RMV: I’m a 28-year-old working-mom from Romblon who took up computer programming and dreamed of being different. This ambition started when I was 22 years old.
Business Mentor: When did you start with your business? How old were you and what motivated you to start one?

RMV: I was 23 when I realized that being confined in a four-cornered room while working for 8 hours in a day was not what I wanted in life.

Business Mentor: Describe how your typical day is.

RMV: I’ll be the first to admit that I am not a morning person. My day starts off by having brunch with my kid and partner. We normally talk over brunch the errands that are set for the day. I also consider it as a bonding time with them. After that, I prep and get dressed for work.

My day ends differently depending on the demands of work. At the end of the day, it’s a catch-up moment for me and my partner as we go out for dinner and share with each other how our day was.

After this, we go home straight and I make sure to spend a little time to play with my baby girl before she goes to bed.

Business Mentor: A look at the life of a millennial entrepreneur 2

Business Mentor: What were your struggles with the business?

RMV: Well, I was not born with a silver spoon, my family was not wealthy. But it did not stop me from trying to achieve what I have right now.

I was disapproved by a building owner. This was one of the biggest challenges I had when I was starting. This made me more eager to convince the building owner that my business could pay the lease.
My struggles did not stop there as, after 9 months of operation, my business was discontinued because of some problems that came along. It was a heart-breaking experience, but it did not deter me from starting anew.

Business Mentor: What are your other businesses aside from the salon and how long have they been operating?
I’ve had my salon business for 3 years already, turning 4 actually, this December.

I am a proud franchisee of 3 Turks Shawarma branches – one at the Shaw Center Mall in Mandaluyong which has been operational since December 2016, at Victoria Towers in Quezon City since March 2017, and the other in Lapu-Lapu City Cebu located at Alfresco Mactan Newtown Megaworld which opened July 2018.
I also franchised another food cart business that opened last September 2017.

Business Mentor: From being a salon owner, what made you decide to engage with other businesses?

RMV: Having the mindset of a mompreneur, I decided to maximize my time and resources. Apart from being a franchisee of food cart businesses and a salon owner, I am also an active online seller of products for young girls and moms.

Business Mentor: What training seminars or workshops have you taken to ensure that you can manage your business well? Do you have a business partner?

RMV: I am a strong believer that education, training, and workshops give us blueprint to build a pretty good life. I underwent training at the Center of Aesthetics Studies (Frank Provost) and have undergone several training seminars, and workshops for skin, hair and nail care.

Business Mentor: Do you still find time to be with your family? How do you spend quality time with them?

RMV: As a mother of a 2-year old baby girl and a business-woman handling 5 businesses, 24 hours in a     day is not enough. However, a mompreneur as I am, fully embodies what it is like to juggle so many responsibilities—as an entrepreneur, a mom, and a wife. There is no “right” way to start or run a business and certainly no recipe for learning how to balance it all. But through the years I have learned that you’ve got to find your own groove with discipline, routine, and priorities.

Business Mentor: Are you still interested in starting a new business?

RMV: I was looking into opening a Luxury Lounge that provides high-quality service at a very affordable price. I want to make women look fabulous without spending too much.

Business Mentor: What is the most valuable lesson you learned since you started your business? And what tip can you share with aspiring entrepreneurs?

RMV: Never stop dreaming. Reaching for success is like stepping on stones, take each step carefully, with the vision of achieving your goals. Also, do not let anyone stop you in making your dreams come true. After all, if you believe in your dreams, you can make it happen.

Business Mentor: How do you see yourself in 5 years?

RMV: Given the pace of change these days I would not presume to say that I know what I'll be doing five years from now. But I know I'll be working hard at being a mom and will be expanding my businesses. Also, I will be creating more employment opportunities.

It is because of her persistence and her faith in herself that she was able to overcome the odds. I am sure that a lot of young individuals can be as successful as her if they know which path to choose.

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For more information, you may contact Armando "Butz" Bartolome
by email: philfranchiseguru@gmail.com
or https://www.facebook.com/philfranguru/
His website is https://www.gmbmsglobal.com