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MOHAMMAD 'MO' HONARKAR
4G Wireless
Irvine
4 years in business
Type of company: Verizon wireless retail chain
Starting capital: $1.5 million – “I had some real estate I sold to start this business.”
Annual business: “We
have $40 million in sales at 80 locations in California and Nevada. We
have about 65,000 customers right now. I had a good business plan, then
exceeded that plan.”
Most significant challenge, and how you overcame it: “Not
being able to access capital from the bank system – but because of the
economy, we have been able to negotiate good leases, which has helped.”
Most useful resource: “Having a good partner – Verizon had confidence in me. We’ve had a great partnership.”
Advice to other minority entrepreneurs:
“Minorities have a more difficult time dealing with banks and the legal
system. Don’t get discouraged; you have to learn to deal with them,
because that’s the only way you can win. Start with a good business
plan and stay with it.”
One thing you might have done differently: “I would have changed my name from Mohammad to ‘Mo’ long ago.”
5 Minority Business Owners:
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Irvine 4 years in business Type of company: Verizon wireless retail chain Starting capital: $1.5 million – “I had some real estate I sold to start this business.” Annual business: “We have $40 million in sales at 80 locations in California and Nevada. We have about 65,000 customers right now. I had a good business plan, then exceeded that plan.” Most significant challenge, and how you overcame it: “Not being able to access capital from the bank system – but because of the economy, we have been able to negotiate good leases, which has helped.” Most useful resource: “Having a good partner – Verizon had confidence in me. We’ve had a great partnership.” One thing you might have done differently: “I would have changed my name from Mohammad to ‘Mo’ long ago.” 5 Minority Business Owners:
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