Amkha Paris Bolivia is a company founded by Michael Kang that is dedicated to selling beauty products. Michael Kang has chosen the country of Bolivia to run his business. Amkha Paris Bolivia sells cosmetics products, hair products, perfumes, and nutritional products as well. We had a short interview with Mr. Kang to learn more about the company’s business model and how Mr. Kang has integrated Loyverse into it.
-Thank you for taking the time to have this interview with us today. Can you describe the story of your business briefly?
My business is beauty-oriented. We sell cosmetics products, hair products, perfumes, and nutritional products as well. We started 3 years ago, with very little capital in a very small store. We import products from Brazil and bring them to Bolivia. Our business runs via consultants meaning with catalog. We have a catalog with the products which we give to the vendors. We sell the products to the consultants at a wholesale price, and they, on the other hand, sell to the customer at the retail price. The vendors have practically 100% profit. This system continued growing, and we have today around six thousand consultants. We have wholesale distributors all around Bolivia.
- How did you find Loyverse, and when did you start using it?
We began looking for a system to manage our sales in our physical shop and also to help us organize and manage our wholesalers. We checked various platforms. Besides, we wanted to pay a developer to develop a customized system only for us. But, all these options were too costly for me. Then, I encountered Loyverse on the internet and we started immediately testing it. It was amazing because Loyverse had all the tools and all the options that we were searching for. Loyverse really helped us save a lot of time and helped us organize financially and manage the wholesalers. It is an amazing platform with a very affordable price.
We have been using Loyverse for almost a year now.
- How was the last year for your business? Were you affected by the pandemic?
It was incredible because in March I was in Brazil. I had a journey scheduled to the United States. But all the flights were canceled because of the pandemic. I returned to Brazil, and I had won a trip with a cruise ship from the company from which I buy the product for my business. Because of the situation, the cruise ship was not allowed to stop anywhere so we just kept sailing. Then, we returned to Brazil, but the borders were already closed and I remained in Brazil, and I trusted my business in Bolivia to my employee. I had to stay in Brazil from March until September. But, incredibly, our sales during the pandemic year were quadrupled. The reason for this was because since most of the people remained unemployed during this period, they found the opportunity to buy products from my business as wholesalers and sell it at a retail price so they would win 100% profit very attractive and they took this opportunity. So we kept growing, and this growth during this time was incredible, and we are very grateful.
- So, you don’t sell directly to customers, but only to wholesalers, right?
Yes, that’s correct. I buy from the factory, and I sell it to our consultants who sell it door to door. I have more than 500 items. The consultants win 100% profit when they sell the product they receive from us. It is a very beneficial business for the consultants who sell our products.
As I mentioned before, I have a small physical store where I sell products to the customers that come to visit us personally. I have many wholesalers as my customers who buy in large quantities from me and then supply other vendors. I distribute for all departments in Bolivia. I use Loyverse to manage the sales in my physical store and to manage the wholesalers as well. What I like most about Loyverse is the agility it offers me to handle my items. I have more than 500 items, and for us, it was a headache to remember the prices and details of all the products. Now, with Loyverse, that is extremely easy. The sale process is seamless. I can make use of the discount feature to give the discount to my consultants and wholesalers. The shift report is also very important and useful to me. Loyverse is very helpful for the financial part of the company. I can honestly say that Loyverse is excellent for me. Currently, I use the Employee Management service. I have added my employee in the system and some wholesalers employees as I need to check their sales and offer them the opportunity to win bonus points in the factory from the company from which I buy my products. I have also tried Advanced Inventory, and I think it is good, but for my business, at this moment, it is not necessary.
- Why did you choose Bolivia to run your business?
I lived in Bolivia for 12 years. I studied here, and I started to learn here, and I decided to stay here permanently even though Bolivia is considered to be an emerging country. But, it is a country that offers a lot of opportunities, and for me, it has been going very well.
- What feature would you like to see in Loyverse in the feature?
I would like the option to forbid the sale of an item it is out of stock. The other option I would like is to be able to edit the closed receipt, to have the option to add some kind of note. I understand that these features are needed specifically for my type of business. The system is great in general.
- What would you like to say to the Loyverse Team?
I want to say that you are excellent. You are very attentive to your customer. Every time I have any doubts, you reply to me immediately in chat support. I wish you a lot of success, and I hope that Loyverse keeps up with a good job and expands its presence globally even more. I am very honored and happy to be part of the Loyverse Community.
- Lastly, what would you say to the young people who might aspire to have their business?
In my opinion, in everything that we want to do, we must be resilient. We must persist. Every time you dream about something or wish to learn something new, many people will say to you “NO.” It can be your family members, friends, people you trust, but my advice is to be resilient, be persistent and go further than you ever imagined, trust yourself.
During the way, you will face a lot of challenges, discouragement, but have a goal and go towards that goal with everything. Believe in your dreams and do anything to realize them.
Thank you for this message, and I wish you great success for your business.