Wise Businessman Nol Montalbo Uses P1, 500 Borrowed Capital To Made Multi-Million Business
A wise businessman Nol Montalbo made a multi-million business using only a capital amount of P1, 500 he borrowed from his classmate.
In 2006, the cable business of Montalbo family went bankrupt making their life a little bit difficult compared to their previous lifestyle.
However, Nol Montalbo’s perseverance prompted him to start his own business shifting his time to entrepreneurship instead of pursuing a career as a medical doctor after finishing his degree.
Montalbo borrowed an amount of P1, 500 from his classmate for having no money to start his soap-making business.
At that time, there is a huge demand for soap business, which makes his first attempt successful and repays his debt in less than a week.
The entrepreneur pursues his soap business and repeated the same cycle for a couple of months until he received a huge order: 70, 000 pieces of soap.
The businessman borrowed P80, 000 to fulfill the order but unexpectedly earned a P100, 000 profit, which prompted him to open a health spa using the traditional way of “Hilot” so it would be unique from other spas in Manila.
The wise man named the spa as Mont Albo Massage Hut, which was first built in Makati. The spa business becomes a huge hit to Filipinos and eventually had a business expansion.
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