Tuesday, 02 January 2024 12:17 GMT

Bankrupt Entrepreneur Restarts With Street Food Stall, Now Earns ₹25 Lakh Daily


(MENAFN- Live Mint) A 57-year-old Chinese entrepreneur lost everything. Then, he rebuilt his life with a small street food stall.

Once the owner of three thriving restaurants earning up to three million yuan (approximately ₹3.7 crore at the current rate) monthly, Tang Jian's downfall began with poor investments .

Tang invested blindly in ventures about which he had no knowledge, such as Maple Wood. By 2015, he had a debt of 46 million yuan ( ₹57 crore). Tang declared bankruptcy, the South China Morning Post reported.

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His marriage ended in a divorce. He nearly gave up hope and often had suicidal thoughts. However, he could not stop thinking about his mother and child. He could not fail his creditors either.

In 2018, Tang restarted his life by selling homemade sausages near his old restaurant. His 74-year-old mother was there to help him.

They purchased a simple sausage stuffer for 35 yuan (approximately ₹440) and made everything by hand. Tang insisted on using quality pork from a high-end supermarket. He displayed receipts at his stall to show honesty.

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Out of embarrassment, he did not want his neighbours to know that he had started a street food stall. He wore a mask to hide his face, according to the publication.

Tang thought they would taunt him if they found out about his new venture. One day, one of the neighbours recognised him. But, he decided to be open about it. Gradually, the entrepreneur regained respect.

Tang earns ₹25 lakh daily

Tang Jian's roasted sausage business has grown into a successful brand with a factory producing two tons of sausages daily. The company now earns about 200,000 yuan ( ₹25 lakh) each day. He now has outlets in shopping centres.

“A fall into the pit, a gain in my wit. Even though my future is not bright, I can stay strong longer than others. The thing you keep putting effort into will repay you one day,” SCMP quoted him as saying.

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When the COVID-19 pandemic impacted sales, Tang turned to live streaming and built a strong online following of 1.2 million. In one session, he can sell goods worth one million yuan ( ₹1.25 crore).

Though he still owes money, Tang reinvests profits to expand and repay debts faster. With help from artificial intelligence, he created a repayment plan that predicts he will clear all debts by 2027.

Tang remains grateful to his creditors for their trust and patience. His story of failure, humility and persistence has touched many hearts across China.

“Sometimes our success is the product of our time plus a little luck. The important thing is to stay clear-minded when things go smoothly,” SCMP quoted a social media user as saying.

Another posted,“With his spirit, I am sure he can rise from the ashes despite all the hardships.”

Disclaimer: If you or someone you know is struggling with thoughts of self-harm or suicide, please seek help immediately. In India, you can call the Vandrevala Foundation Helpline at 1860 266 2345 or AASRA at +91-98204 66726. You are not alone, and support is available.

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