POLOKWANE – The University of Limpopo B.Com accounting student dropped out to pursue his passion and today he is the owner of the SRS Exclusive Store.
His interest in business started in high school where he used to sell sweets and during holidays he would work at retail stores to learn more about how the business works.
“When other kids went on holiday, I didn’t. I was hustling, trying to learn as much as I could. I was also saving up money,” he adds.
He eventually pitched the concept to his brother and explained that he wanted to open a store. His brother believed in it and he invested in the business instead of simply giving him a loan.
They started the store with their own funds even though the road to opening the store was filled with challenges.
“I remember our card facilities were delayed but we couldn’t delay the opening of the store as we had to start trading on that specific date.”
He describes some of the other challenges they faced.
“There are many pitfalls in running your own business, one of which is securing stock from big brands as they do not necessarily want to have faith in a store that hasn’t been in business long.
“We had a difficult time in the beginning with getting stock for the shop and I recall people joking about whether we were opening or closing the shop due to the shortage of stock. I remember there was a time we had to use our own money, including the rent money, to buy stock to sell during the festive season.
“We invested a lot of money in the highest selling brand but the supplier did not deliver which resulted in a big financial loss.
“The aim was to get the stock by November, in time for the festive season, but they only delivered in April.”
His plans include investing in property as it doesn’t require a regular presence and to explore the food industry in the form of of a restaurant or fast food outlet.
There are two more SRS Exclusive Stores opening in August, one in Lephalale and one in Thohoyandou.
They chose these locations due to the positive feedback they received from their clients and the demand for their products in these areas.
“When we opened our first store in Polokwane we received calls from clients in Burgersfort about our products which prompted us to open another store there.
He says the benefits far outweight the drawbacks.
“Financial freedom is something I value and I want to leave behind a legacy which will enable the generation after me to live well.
“I’m a firm believer in ownership; it is hard work but the rewards are worth it. I don’t want to live on a salary, I’m scared of unemployment and I don’t want my kids to face the challenges of unemployment.
“I had to create my own job to feed my family by doing something I am passionate about and create a legacy I can leave behind for my kids,” Selaelo said.
In closing his advice to others who want to follow the same path is: “Do what you love. Even if you do something that is paying well but if it’s not something you love, you won’t enjoy it. Regardless of the challenges, if it’s something you love, the challenges won’t deter you.
“There are challenges every day when you wake up, just know you’re at war.
” People don’t want to accept that life is challenging for everyone. People think because of the stores, life must be smooth for me but everywhere in life, you encounter new challenges”.
