Pictured above: Andrew Haylock and Nigel Randle
Three Coventry University students have opened up their own
market stall to get experience in running a business.
The business-savvy students decided that the only way to be
their own boss one day was to put money into a business venture and
run it themselves. When the opportunity came to buy a previously
owned stall at Coventry Market, they jumped at the chance.
The three students, Andrew Haylock, Derik Anyang and Kangwa
Changachanga are all equal investors and are also in their first
year of a BA degree in Enterprise and Entrepreneurship.
The market stall, known as 'Randles' sells casual and sportswear
for men. The trio intend to stock branded names and only buy
authentic clothing.
Andrew Haylock said:
"We are very excited about this new venture. We open the shop
when we don't have lectures and we believe that it ties in nicely
with our course. Not only will it give us valuable experience in
retail and running a business but it will also help to make a
little bit of money on the side, which is a bonus."
It is a new chapter in the life of the former owner of the
stall, Nigel Randle, who is leaving after thirteen years and
saying goodbye to retail to start a new career as a golf
professional.
"I'm going to be taking my teaching qualifications in golf and
then after that, I'll be going wherever the job takes me," said
Nigel.
In the meantime, he has been sharing this tips and trade
contacts with the students.
Nigel said:
"I've been taking them around to meet my contacts to show them
the ropes and to make sure they knew how to negotiate with the
wholesalers. I wish them all the luck in the world because it is a
tough time to be a trader but I'm sure they'll do well because they
are getting a really good business."
As the only point of sales is through face to face interaction
and negotiation, the students plan to offer sales internships and
work experience at the stall for other students on the course,
especially those that would like some experience in sales and
negotiation.
Gideon Maas, the Director at the Institute of Applied
Entrepreneurship at Coventry University, said:
"Coventry University is serious about promoting entrepreneurship
in the region and has various mechanisms in place which are
supporting potential and existing entrepreneurs. These three
students took advantage of this support and it is a good example of
what can be achieved within the Midlands region."
Andrew Haylock concluded:
"Once we have completed our degree courses, we intend to offer
the business to other students at the University so that they can
get the valuable experience that we are gaining now."
For more information about Coventry University, please visit
their website here: www.coventry.ac.uk