A passionate and determined young man, Mr. Arjun Bhandari CEO of “7 Wonder Park and Resort” shared some words about his venture and his ideas on entrepreneurship to Glocal Khabar. He was the first runner- up of Global Student Entrepreneurship Award (GSEA) 2017/18 Nepal. He has been engaged in various social organizations.
Being a student of Microbiology, Bhandari initiated his dream project- “7 Wonders Park and resort”; the resort was born out of his passion for business and entrepreneurship.
1. Could you briefly introduce the company to us? What was the starting phase like?
Seven Wonders Park and resort Pvt ltd officially started in January 2016 with an investment of Rs. 90 million. It is located at Talchowk near by Begnas Lake, Pokhara.
Spread over 8 ropanis of land, the resort complex houses has two spectacular swimming pools, water slides, lounge bar and restaurants, a conference hall with a seating capacity of 150 people, the event venue for a various party of capacity up to 500, loading facilities with panoramic views of the mountain range, BBQ night, and various special offers during festive.
There are many water parks and resorts in the core city of Pokhara. But Lekhnath which is also an important tourism hub in Kaski district, is lacking on that front. We started this water park with a vision to develop tourism in this area.
Lekhnath is known as the “City of 7 Lakes”. So, we borrowed ‘7’ from the same and named “7 Wonders Water Park & Resort” as our official name.
I started the journey of entrepreneurship during college time. The project was fully completed in one year of the construction period. The materials were used from local markets and were imported for India too.
2. How is the business going?
Since the resort has resorted cutting-edge architecture and the facilities. We get visitors from as far as Damauli (Tanahu district), including the local Lekhanath people and the visitors from another area of Pokhara. The four years of operation so far have been wonderful. We have signed with different schools, Montessori, and co-operate houses which allow us to have a regular flow of customers. We have organized various events like the reception party, anniversary party, wedding party, a co-operate party which has helped us to build goodwill in the sector of the hospitality industry.
As a new project concept in Lekhnath, it’s challenging as well as enjoyable. The market is just emerging. The craze towards this type of business is on the rise and the business is taking its pace. If everything goes as planned, I am sure it will turn out to be an exemplary business in Pokhara.
3. What kind of response do you hear from your customer? Can you share about it?
We believe in rendering quality service with the best hospitality and best customer satisfaction is our greatest learning and goodwill.
Since its operation, we have been able to satisfy our customers and they are happy with the service and hospitality we provide.
4. What are the challenges you encountered about your venture? What is the state now?
During 4 years of operation, we didn’t face so many devastating problems except the problem of skilled manpower because of the brain drain problem of qualified youths.
But due to the coronavirus pandemic; we are facing unprecedented challenges. The world now is battling the pandemic virus COVID-19. Governments are placing countries under complete lockdown. Travel has been suspended temporarily and even food delivery has been put on hold for the time being. The novel coronavirus (COVID-19) outbreak has havoc on the world’s economy. The supply chains and sales have been impacted to a large extent across the sectors. For the country’s startups; it passes yet another challenge; perhaps their biggest one to date; securing finding in the strangulated financial eco-system.
Talking about developing countries like Nepal, it will be a devastating situation. A start-up like we get a loan from the bank and had to pay high interest in this panic situation as our business is totally closed out. During this lockdown period, many ventures have been facing a great loss in their balance sheet and it is really hard to come back without the help of the government. Until and unless the government won’t work for the subsidiary to the start-up and the business houses then it is certain that we will face a great financial loss in the future. I appeal to the government that the main source of revenue for the country’s economy is the tax paid by the citizens. Citizens pay tax for the government well- built and now citizens are in the worst situation, so the government should be responsible towards the citizens and make the scheme so that the entrepreneurs and start-up can renounce from this pandemic situation and aid more in the future country economy.
5. What are the long term plans that you set up regarding your venture?
I always mention-“I am a daydreamer and I am a passionate entrepreneur”. Every chapter has a new beginning. I will never leave the journey of entrepreneurship in any worst situation. I believe if we have dedication, passion and skills we can overcome every challenge.
In the absence of certainty on revenues. I will preserve cash at all cost, so I can survive this phase and be ready to get going as soon as the curtain lifts. Secondly, I will be ready to go back to the drawing board to redraft my business module.