Two young, successful entrepreneurs gathered on stage at Shaikh Mohammed bin Ibrahim Alkhudair Hall to tell the inspiring stories of how they turned investment ideas into successful businesses in Riyadh.
Mohammed Alruwaigh, founding partner at Burgerizer, and Nawaf Alfozan, founding partner and CEO of Hamburghini, were hosted by Dr. Khalid Alrajhi, VP, Alrajhi Holding, and YU faculty member, in the evening of December 6, 2017 to share the stories of how they started and maintained their successful projects with an audience of students and faculty members.
Starting with a brief introduction about his educational and professional background, Alruwaigh gave a detailed description of how he contemplated the idea of investment in the fast food sector, how and why he opted for the kind of service and trademark of his business, and the phases and challenges he had been through from A to Z.
“Knowledge of and experience in the sector of choice are the corner stones of long-term success and sustainability”, he said, “and that is why we continue to learn and acquire knowledge and skills in order to excel in our service. The Saudi market is large and capable of hosting more fast food providers. The only thing that will decide your success in this highly competitive environment, however, is your true excellence when compared to your competitors.”
Alruwaigh stated that community service is one of their main targets at Burgerizer, aiming to provide 1000 employment opportunities by 2030.
Speaking about Hamburghini, Alfozan described his beginning as a journey of discovery and persistence to overcome the numerous failed attempts, which had been their “source of motivation, and reason not to give up” as he said.
“Retention of daily, loyal customers,” he said, “is key issue in our business, where we aim to strike the balance between high quality of service and reasonability of our prices.” Alfozan shared the same concern of Alruwaigh regarding community service and said that they also consider provision of jobs a main target in their company.
After that, Alrajhi opened the floor for discussion where the guest speakers answered a number of questions and inquiries about start-ups and practical steps to launch a sustainable business.
The evening was conclude with gifts of appreciation presented to the guests.