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Juice startup secures 4m yuan venture capital fund
Updated: 2015-07-09
By Ge Jieru, chinadaily.com.cn
A cup of fresh juice might seem ordinary, but for Lin Mao's startup business, it is his secret weapon.
Lin, an overseas returnee, and his business partner Zhang Zhengyang, started their juice business in Southwest China's Chongqing municipality after finishing their studies. After two years of toil, the daily sales volume of their juice had exceeded 1,000 bottles, with a monthly sales figure of approximately 300,000 yuan ($48,300) to match. Lin recently received a venture capital investment of 4 million yuan.
"Starting a new business is not certainly the subversive creation but an optimization," Lin said, outlining his understanding of starting a business.
As an overseas returnee, Lin found a job in Shanghai as a consulter after he finished his postgraduate study. However, Lin wasn't entirely satisfied with his life and began planning his own business. At that time, Zhang happened to have the same thoughts with Lin and they left Shanghai for Chongqing to start their own business.
In 2013, Zhang and Lin raised 200,000 yuan of start-up capital. In the November of 2013, the juice shop opened but the business was slow to take off. Lin and Zhang decided to pass out leaflets to promote the shop. However, still with a shortage of funds, they started to consider looking for venture capital. After several weeks, the pair successfully received a 4 million yuan venture capital investment in March of 2015.
At present, two juice shop branches have been opened in Chongqing and a factory has been launched, employing 50 staff members.
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Fresh fruit juice products by Lin Mao and Zhang Zhengyang, two overseas returnee businesses starters.[photo/liangjiang.gov.cn] |
Edited by Jacob Hooson
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