Enterprising students invest in their own business at Coventry Market

Feb. 4, 2011 - PRLog -- Three students on an enterprise and entrepreneurship degree course have opened up their own market stall to get experience in running a business.

The business-savvy students decided that the only way to get to be their own boss one day was to put money into a business venture and run it themselves and when the opportunity came to buy a previously owned market stall 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 support 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.”

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For further information, contact Ali Bushnell, External Press and Media Relations Officer on 024 7688 8245.

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The External Communications team from Coventry University promote a wide range of initiatives, services, success stories and other related aspects of Higher Education and the achievements of its staff and students as well as comment pieces from experts.