Building Muscles & Building a Business

February 12, 2011

Mr. Zrng Abu Bakir, 25 years old, public library employee, had a dream to open a fitness center, but he did not know how to exercise it! However a business entrepreneurship course at the Sulaymaniyah Business Information Center (S-BIC) gave him the knowledge and power to change his career path.

In September 2010, Mr. Bakir and a friend participated in a ”How to Start a Business” course. He could see himself starting a fitness center, but he could also see that it would take hard work and commitment to become successful. Business Plans have been prepared for them along with providing continuous consultancy. The S-BIC was now one of his business advisors, and they soon pointed him to another advisor.

The S-BIC linked him with the Bright Future organization, a Microfinance Institution (MFI) that specializes in Islamic financing. They assisted Mr. Bakir with purchasing $5,000 of new fitness equipment. While Bright Future normally does not provide “start-up” financing to new businesses, the strong relationship with the S-BIC and the assistance that the S-BIC provided with Mr. Bakir’s business plan gave Bright Future the confidence that Mr. Bakir’s business was starting with the right combination of vision, business training, planning and personal fortitude.

The Multi Sport European fitness center operates from the Saied Qdir Building on Salam Street, and serves its target clients, men and women, ages 17-45 years old, six days a week. Being the only fitness center within this area of town, Mr. Bakir’s business enjoys a large potential client base. To strengthen this competitive advantage he is planning to provide more services to his clients in the near future.