Business: Papyvore
Category: The Young Millionaires
She always liked magazines since high school. And when she was in her senior in college she borrowed P200,000 from her parents to open a magazine store in Robinsons Galleria near the dining area which she figured that people could look at magazines while eating. The store's name was derived from the Egyptian word papyrus and added 'vore' so it means a paper lover or someone who devours paper.
At first they didn't have a lot of magazines because they only had a few suppliers. But now they buy the local magazines directly from publishers and get the imported titles from distributors.
"I learned a lot of things along the way. For example, I now make it a point to display the local titles in front because they are more sellable items, and the imported inside because they're expensive. I'd observed that people looking for imported titles really went inside, while those going for local magazines only bought based on what they saw on the cover."They started with 50 titles but now they carried around 500, including foreign back issues titles as well as special interest magazines. They pride themselves in getting the magazines first as they haggle for the quickest pick-up and delivery times with the publishers.
"My decision to focus on my business had been fulfilling, because at the end of the day, I knew I was doing this for myself and through it, I could make a difference. I really owed my success to the training I got from my parents who had helped me run this business. Since we were young, my parents had been training my siblings and I to be entrepreneurs. Now, everything came naturally for me."GOLDEN RULE: Love what you do. I really love magazines. I don't think I can push a particular title, or make others buy a particular issue, if I myself don't like it.
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