Bống Chè Bưởi – A little girl with an entrepreneurial mindset

Viewers of Shark Tank Vietnam season 2 episode 9 had the joy of meeting Bảo Ngọc, often endearingly referred to as Bống. Bống was born and raised in Tuyên Quang, a province in the northeastern part of Vietnam. At 10, she was hailed “business prodigy” nationwide by the online community for her blossoming shop which she has been running ever since 7.

From the get-go, Bống came in with much aplomb, offering her chè to the Sharks, who only had praises in response. She then presented her business model in front of the illustrious panel and asked for 200 million vnd ($8,700) in exchange for 20% equity.

It all started when Bống got a taste of Chè Bưởi, a Southern dessert consists of beans, tapioca starch, and pomelo pulp with a souplike consistency, in a restaurant. So enraptured by the taste and smell that cup of chè bưởi, Bống was determined to bring this delicacy closer to the hearts of Northerners. And so, she set on learning how to cook chè bưởi herself. After 15 tries, Bống finally found the right recipe. With that, Bống opened her business.

Bống admitted that initially it was hard to establish a solid ground to launch the shop since so many food and beverages shops had existed already. Bống did not want hers to have to fade into the muted background of the crowded food scene, so she conceived the brand “Chè Bưởi Bống Nấu” (“Chè Bưởi made by Bống”), hoping that it would give her shop a nice ring.The brand can now be found on Facebook, Instagram, and Youtube with thousands of followers.

Most customers of Chè Bưởi Bống nấu know about her via those social media applications, others through the good old word of mouth. All, however, can probably attest to how delicious her chè is. So delicious that one woman even drove a car to buy hundreds of cups of chè to feed her company. On average, Bống sells somewhere in the region of 100 cups per day.

On good days, a national holiday for example, Bống cooks and sells up to 400 cups of chè, amounting to 3.2 million vnd (roughly $140) in total. Along with the famous chè, Bống also sells books and toys. With this diverse business model, she quickly gained financial independence. Speaking with Little Big Shots, Bống bashfully shared that the pair of Converse she was wearing had been bought using her own money. She had also spent the money on a laptop and was looking into an Ipad Air 2 to help her learn English with more flexibility. However, ever the businesswoman, she insists on always putting 10% of her revenue into a long-term savings pocket. Then there is a pocket for necessities, another for education, one for financial freedom, and one for charity.

As school takes first precedence always, Bống runs her shop on Sundays only. Bống would wake up at 5 o’clock sharp in the morning to prepare and cook up some chè, her mom helping on the side. The profits, though, are split in a 51-49 ratio. The slightly larger portion goes to our young boss. But this is not Bống’s ultimate vision; she wants to expand the business, to go national hence her participation in Shark Tank.

As it turned out, her offer — 200 million vnd ($8,700)  for 20% equity — was taken up by Shark Thuỷ. Shark Thuỷ also sponsors 500 million vnd ($22,000) for Bống’s study in entrepreneurship and leadership in a span of 5 years. Besides, Bống will be the ambassador for Shark Thuỷ’s English language center — Apax Leaders. Shark Hưng, on the other hand, offered Bống 100 million vnd ($4,350) in return for 10% of her business. He shared that the Sharks’ investments in Bống were investments in a new form of education that is hands-on and applicable, thereby encouraging Bống to keep learning and doing what she does and loves to do.

Ms. Hạnh, Bống’s neighbor, commented:

“Bống has always been the star of the neighborhood for her immense talent and inexhaustible energy. Bống makes really delicious chè; I have some all the time.”

I hope, and am quite sure, that Bống will soon realize her dream of having a chain of shops across Vietnam. Then I too can have some of that sweet Bống – made Chè Bưởi.