From selling chips to becoming a millionaire at 19, Malaysian entrepreneur aims for first billion before age 30

When most of his peers his age were watching cartoons, Munashraf Munawar was glued to shows about the lives of rich and successful business people.

That started him on a path of entrepreneurship.

By age 19, Munashraf, who is from Malaysia, had made his first million. Today, the 23-year-old runs Biovet, a multi-million pet food company.

He is not stopping at that though. His next goal is to become a billionaire before he turns 30. 

In an interview with the New Straits Times (NST), Munashraf said that his entrepreneurship journey started at age 15, when he launched a drop shipping business selling imported sneakers from China.

"I [sold] to both my friends and the public via social media. I made between RM10 (S$3) and RM15 per pair of shoes," he said.

Drop shipping is a form of retail business where the seller accepts customer orders without keeping stock on hand.

Munashraf took a break when he was 17, to focus on preparing for a national exam for fifth-form secondary school students.

'Whatever there was to be sold, I sold it'

After completing his studies, Munashraf hawked chocolate jars by the roadside and became a product agent for kerepek (chips in Malay) and keropok (crackers).

"Whatever there was to be sold, I sold it," he told NST. 

[embed]https://youtu.be/6rMGSX4PoLY?si=H98GnYUFPZ5kg-zi[/embed]

Munashraf also equipped himself with skills in marketing, sales and closing, and looked for companies in which he could become an agent for.

He did find himself in a rut, though, when the several businesses he set up couldn't be scaled up further.

Then his mother died. But Munashraf said his parent's desire for him to succeed kept him going. 

"I have a target for how much money I want to make and save. And so if i fail in one business, I will look for an alternative," he told NST. 

RM1 million in sales within first year

And the alternative came when he noticed several health issues among his friends' pets and long queues at veterinarian clinics.

"I began looking into the idea of creating my own range of cat products," Munashraf said.

After conducting market research, he launched Biovet, which offers a range of cat vitamins.

The business took off quickly, chalking up nearly RM1 million in sales in the first year.

By the time he was 19, he was a millionaire. By age 21, his income tax contributions had  exceeded RM500,000.

Today, Biovet is worth an estimated RM26 million and employs almost 200 people.

Munashraf, who is currently pursuing a law degree, is looking to expand the company and aims to build the largest veterinary hospital in Malaysia.

He credited his success to having a vision, his tenacity and willingness to learn, as well as the support from his family and team.

"Don't give up. Let people say what they want. Do what it takes to achieve your vision," he advised.

ALSO READ: 12-year-old multi-millionaire prepares to move to Singapore after 'retirement'