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Md Shajahan Mojumder is the managing director of Everest Toys Industries Ltd and also the president of the Bangladesh Toy Merchants Manufacturers and Importers Association. He began his journey in the toy industry in 1978. In 2012, he along with three others established Everest Toy Industry. Now the company produces more than 20,000 units of toys per day and transacts Tk 5 crore per month. In a candid interview with The Business Post’s Muhammad Ayub Ali, Shajahan shared his experience in the sector
What made you interested in doing business?
I came to Dhaka before appearing for the secondary final exams in 1973 and stayed at one of my relative’s place at Elephant Road. He used to live in a rented house there.
After three days, I curiously inquired about the income source of the house owner and how much he earns as house rent. I also came to know that he also owns a business of paint. My relative told me that the landlord earns Tk 45 thousand per month, which was a pretty huge amount at that time, and the figure made me interested in doing business.
I came back to my village and appeared for the SSC exams and after passing higher secondary, I got a job as an assistant teacher of a primary school. My grandfather was unhappy at this and he told my mother why they were shortening my dream! My father desired me to take a higher degree but I had no intention for higher studies.
I came back to Dhaka again with a plan of doing business and set up a small factory at Islampur in 1978 investing Tk 1,10,000 and started making rubber balls there.
Where did you get the money to invest?
I collected the amount by selling out my father’s land. Despite making such an investment, I had to face loss for 12 straight years and at one stage I had to sell the factory at only Tk 24,000. But I didn’t give up!
After selling my ball factory, I started a plastic factory with the leftover amount of Tk 24,000 and made plastic balls of several types. Fortune favoured me in this business and my products got a better demand in the market. So, I expanded my business by investing more and bought a shop at Khaza Supermarket at Tk 3,80,000.
In 2001, I started importing toys from China which were in huge demand in the market. Whatever I imported, got sold in a very little span of time. Later, I thought of making toys of minimum Chinese quality in our country. In 2012, I and three of my friends established Everest Toy Industry. The company now produces more than 20,000 units of toys per day and our monthly transaction is Tk 5 crore.
When did you think of having an association of toymakers?
As there was no formal body of toymakers like me, I tried to mobilise like-minded toymakers and form an association in 2005. We finally got the approval of our association 2010.
Where does our toy industry stands now and what is its prospect?
Since 2010, I am leading the toy sector. Generally, in our country, nearly 1,200 types of toys are made though most of the toys are an imitation of Chinese toys. Most of the entrepreneurs in the toy industry are illiterate. I am very much optimistic about the sector as educated people are now coming forward. It is a good sign for this sector. They will take the sector to world standard.
What would you advice a new investor in the toy sector?
I think, before investing in any sector, one should have proper knowledge of that sector. If one has knowledge of that particular sector, the risk of failure reduces. If one wants to be an entrepreneur in the toy industry, one must have a clear idea about the whole process of the business, from investment to marketing and management. One should have firsthand experience of working in a toy factory for at least 6 months. None should come to the industry without proper knowledge.
What is your advice for the youngsters aspiring to be businesspeople?
Education is the backbone of a nation. It helps one each and every aspect of life. If you are a student and want to take business as your profession, you must start the business by taking any idea and investing a small amount alongside your studies. If you are not a student, you should gather experience in various fields before starting your favourite business. You have to be stick to your business with patience and perseverance and work hard. Success waits for you.
