Interview with Entrepreneur: LN take-out Pancit Malabon

Bicol University
College of Business, Economics, and Management
Daraga, Albay

Entrepreneurial Management
(Interview with Entrepreneur)

Submitted by:
Alwin Latonero
Michael Orticio

BSBA- FM 4

Who is the entrepreneur/founder?

The entrepreneur that we interview was Mr. Leo Oliquino.

What is their business or venture? 

He is the one who start business LN take-out Pancit Malabon a sole proprietor business in Bicol Region. He sells Pancit Malabon but the costumers call it Pancit Palabok.

When did they start it?

He started his business since year 2004 in Guinobatan,Albay.

How effectively does the founder/entrepreneur feel he/she was adequately prepared for starting and running a business? 

He started as a small business but very marketable to the costumer.

What experience would have been invaluable to obtain prior to starting the business?

Starting the business is difficult however; he had business experience in manila together with his nephew who was the person in charge. Mr. Oliquino became the business partner of his nephew almost 5 years and that experience he was needed to obtain prior to start the business.

How was the idea conceived for the business? 

The idea of Mr. Oliquino to start his venture was definitely will grow because of his friends suggestions and other prospect that it’s unique taste of his Pancit.

What process did the founder follow in developing the business? For instance, did the founder write a business plan, search for financing, etc?

Yes! The Entrepreneur follows the business plan or feasibility study and suggestions of his clients and friends. 

Was the process successful?

It was very successful; he managed the business to operate the business in almost 14 years.

What would the entrepreneur have done differently at the initiation of the venture?

Mr. Oliquino starts from selling his Pancit (in Styrofoam container) door to door of his customers and these are house, banks and other offices. Because of the distinctive taste of his Pancit, the costumers suggest that make his product bigger then he place his product on a large circle tray (nigo) in different size.

What have been the biggest issues the entrepreneur has faced at different stages of the venture? 

The entrepreneur faces different risk but the biggest issue was about his product. He was very careful about his product especially in packaging. Some of these issues are already expire or damaged product.

How did he/she deal with these issues?

Mr. Oliquino deals with the costumer personally and replaces the damaged or expired product. He prefers to go for arrangement face-to-face rather than sending some of his employee. 

What are the major personal goals and organizational goals that the entrepreneur has going into the next several years?

His personal and organizational goals are obtaining 4 branches (Naga, Tabaco, Ligao, Legazpi) in Bicol region. For the next several years, he’s planning to upgrade his product like different toppings for his Pancit.

Identify the key takeaways from this conversation.

“Kahit na maliit kang Business, Mangarap kang Lumaki"

“Sa Business dapat nakikita mo ang lahat ng bagay, lahat ng aspect and ratio para umunlad ka”