December 2005
Business Name: Moda Scooters


Only 12 months ago Beaumont and Michael were full-time university students powering though a commerce law degree and hesitant about a future in banking and law. Now, they are managing directors and founders of a thriving scooter and fashion business – Moda Scooters.


Q1 What made you decide to study part-time and begin your own business full-time?
We thought we had pretty defined paths, we thought we wanted to do Commerce/Law degrees from Yr 9/10. We basically wanted to step outside the square and do something people our age probably hadn’t done before. We took a risk – we didn’t know if it was going to work, but it seems like it’s paid off pretty well so far! So, always have faith in yourself, and go for gold!


Q2 Did you feel that your age and your lack of experience hindered your progress?
Surely. Especially in the initial stages, trying to convince suppliers that we were legitimate, that we weren’t just two young kids out to make a buck. But we proved that pretty quickly. We came up with extensive plans and presentations, we showed them we could pretty much take on anyone.


Q3 What advantages do you think you have being young and eager compared to your other competitors?
It’s surely a great strength. A lot of others in the market don’t really have many goals for growth, while we’ve got the drive and power to take it to the next level. Having dynamism is a great strength.


Q4 What have you had to sacrifice and what have you gained from the experience thus far?
The biggest challenge I had was convincing the parents that it was a great idea. Parents want you to go right through uni and follow the beaten track and end up in a corner office somewhere with a view.


Q5 So what’s their reaction now?
Now they’re proud! Now they can see what all that hard work meant. We had to show them we weren’t just going to wag uni and set up a store. We showed them that seven days a week we were working hard, starting at 8 in the morning and sometimes finishing at 10 at night. We put in a big investment of our time.


Q6 When did you actually begin this business idea?
The whole concept took about a year doing a lot of market research and putting a lot of plans together.


Q7 How did you conduct your research?
We went straight to the source. We went and talked to the RTA to see how many registrations were done in NSW. You’ve got to do a lot of research. You’ve got to lay the bricks to build the house, simple as that. Without the foundations and knowledge that you need to make it happen, you can’t start anything.


Q8 What have been the biggest challenges for you so far?
Managing staff is probably the hardest as they don’t have the inherent interest that you have in your own business. Keeping them motivated is quiet a hard task. We’ve got three staff at the moment, but with a second store opening soon we have a few more coming on board.


Q9 What would be your top tips for young entrepreneurs (For those of us who are keen on business but are scared, or don’t know where to start)?
Well you’ve got a lot of resources at your fingertips, you’ve got your lecturers who are probably the first point of call. But if you have an idea – don’t give away everything! Ask how they would go about setting up a business plan and things like that. Find a mentor – our business partners are our mentors and we’ve learnt so much from them. Having someone who’s been in the game before, who’s made a lot of mistakes and learnt from them basically saves you from making that same mistake. My theory is – if you make a mistake and learn from it, that’s cool. If you make the same mistake twice you’re a bloody idiot!


Q10 What goals do you have beyond expanding and opening a second store?
When people think about modes of transport we want them to have Moda Scooters at the top of their minds. If we can achieve that goal then we would have achieved what we wanted to do when we first started out.


Q11 What are three values that you’ve kept close to help you through?
Planning, planning, planning. You can never do enough. You can’t walk into a fight unprepared. Secondly, work with good people around you.