Masroor Alam was a successful mortgage broker who was badly hit by the banking collapse and resulting changes in financial advice market regulations. By late 2013 Masroor found himself out of work. As an enterprising individual with a good knowledge of business, a reasonable level of savings and family backing, Masroor decided his best route out of unemployment would be to acquire an existing enterprise.
Masroor identified a hamper-selling business which had a range of corporate and online clients. Masroor’s ambition was to purchase the business and create a subsidiary specialising in providing Halal hampers to the Muslim community. Masroor discussed his plans with his Jobcentre Plus adviser who promptly referred him to Prevista’s New Enterprise Allowance (NEA) programme, which supports unemployed would-be entrepreneurs into self-employment. Masroor was paired with Prevista’s Business Adviser, Stephen Anderson, who provided him with specialist enterprise advice and guidance. Stephen recalls:
“When I met Masroor, we discussed the business he proposed to purchase, its potential profitability, how to implement his innovative Halal Hampers idea, how to negotiate with the owners and how to drive the business forward from day one. Over a period of 8 weeks we developed a plan and a forecasting model, which enabled him to purchase the business with a rigorous plan for expansion in place.”
Stephen advised Masroor to commence a marketing campaign aimed at the London Muslim community and develop a pricing model that reflected the niche nature of his product. Masroor recalls:
“Stephen’s guidance has been incredibly useful and informative. His advice has ranged from suggestions around pricing, delivery models and product development to the structure of the organisation as a whole. In our first few months we are already making a healthy profit”.
With Stephen’s continued advice and support Masroor is aiming high:
“I feel we have a real unique selling point. No other business provides Halal hampers specifically for the Muslim community. The potential for expansion is massive. In the long term we are looking to build our corporate client base, develop an excellent online reputation through positive customer feedback on Amazon, and expand into Muslim communities across Europe”.
To find out more about Masroor’s venture visit https://www.hamperhouse.net/
His unique range of Halal products can be found at http://www.halalhamperhouse.net/
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