Mon, April 16, 2018

Happy in UK

Joy Manangat of Uson, Masbate found business success in UK. A catchy acronym coined by the locals, UK stands for ukay-ukay (dig through) which involves the buy and sell of second-hand clothes, bags, shoes and other accessories. “I grew up to a life of selling. My mother used to sell fish, so I too sold fish. Years later and on my own, I shifted to selling bread, then cooked meals, and back to fish. Feeling unhappy with the low income from fish vending, I wracked my brain to come up with the next and better business idea. I met a UK vendor and I thought, ‘why not sell ukay-ukay?’ My starting capital of Ten Thousand Pesos (PhP 10,000) may be small, but I am big on diskarte or resourcefulness,” says Joy. Banking on this trait, Joy forged ahead and succeeded to grow the thrift shop into a retail business with a quarter million pesos in capital in 10 years.

Joy has a regular outlet in her village in Buenavista. In addition to UK items, she now also sells new ready-to-wear (RTW) clothes and shoes and dry goods like children’s toys. “Not everyone likes to buy used clothes. Thus, I expanded my product range when I had more capital,” says Joy. She reaches out to her potential customers by bringing the goods closer to them. “We sell more items when we go to towns during market days and town fiesta. I contract the services of five people to sell for me. We set-up tents in designated selling spaces at the town plaza or public market. Our sales could reach One Hundred Thousand Pesos (PhP 100,000) in just a few days of brisk business,” adds Joy. She also does business with informal sales agents who get stocks from her and sell onfoot from village to village.

Sold items are paid by the agents while the rest are returned to Joy. Her most hardworking agent can make a daily sale of Two Thousand Pesos (PhP 2,000).

Joy travels all the way to the country’s largest wholesale markets – Divisoria and Baclaran, for the lowest-priced and latest trend in RTW and dry goods. This covers sea and land travel of more than 500 kilometers. “If you want to be successful, you have to be a hands-on manager with extreme patience and diligence,” shares Joy. Restocking her UK items is much easier and convenient. With no need to select items, Joy places her order and pays for it online. Packaging and delivery of goods at her doorstep is handled by her supplier in Cebu.

Out of her earnings, Joy has acquired properties for comfort and investment. She bought a small house and lot in Manila so she can have her own place to stay during her frequent travels. She also has a house in her hometown and land in a neighboring town. She bought a tricycle to deliver goods from one selling location to the next.

Single with no family of her own, she does her share to support her siblings in starting enterprises. She has turned over assets and stocks of her past enterprises to them.

Joy is at home when she is at work. Her business keeps her surrounded by a network of support to help her pursue and realize her full potentials. When she needs additional capital for expansion, she has SEDP to supply financing. And when faced with problems; she turns to God for guidance. “My faith is my source of strength,” exclaims Joy.