Having updated this article, the smiling man in red shirt is Mr Dusimin Gomuran from Kg Sungoi, Tuaran who sells the fresh coconut at the Tamu ground of Donggongon.
My good friend Emmanuel and I frequently sit at this guys tent and table at the tamu ground to drink his fresh coconut fruit of which he sells two types.
The ordinary young coconut he sells at RM2.50 while the smaller one but with a pandan fragrance is sold at RM3.50.
Sounds expensive to most of you but he seems to sell all that comes from his van for 3 days tamu a week from Wednesday evening to Friday morning.
Now the big story here is that we got to discuss the subject of how long does it take for him to become a millionaire just by selling fresh coconut drink which the customers are enjoying on the table behind him. Actually there are only two tables under the tent.
So I asked him how much profit per coconut does he make?
Answer: RM1.00 guarantee after deducting transport cost, the price he buys it from the coconut farmers and overheads.
How much does he sells per day?
Answer: He is now targeting to sell 500 per day or 1500 per week or 78,000 per year.
Hence how many years would it take for him to become a millionaire?
Answer: 1,000,000 / 78,000 = 12.82 years or 12 years 10 months.
Not bad really as compared to all those scam businesses such as multi level marketing and internet MLM such as BOSSVENTUREs and peddling drugs and bootlegged cigarettes !!
At least the coconut business may be slow money but it is sure HALAL, while keeping me and my friend Emmanuel happy drinking healthy natural drink called coconut water with a pandan fragrance. Keee hooi !!
Well, I went back to his tent yesterday Friday before he closed his business for the week as the Tamu period ends on Friday afternoon.
This time I was so thirsty I could finish 3 of his pandan coconut and at the flesh as well.
The man is still happy and jovial as usual, did show me his mykad and really seems happy at the though of being a millionaire in 12 years. He said he has been selling coconuts for the last 3 years, so he has 9 more to go.
Today is Monday 4th Aug 2014 and I came back and update this blog.
A graduate Engineer is paid at most in public service and GLC a basic salary of RM2200. At SESB the basic is RM2200 without any allowances compared to government service where you are a trainee for at least 12 months. That is why the freshie engineer that I know resigned and joined either JKR or PETRONAS since they also offer lots of incentives and allowances.
Now going back to Mr Dusimin, if he really sells 1500 coconuts per week, he will make some RM6000 per months without going to university and spent RM1000K at least for the 4 year course just to get a Bachelor degree.
Of course Mr Dusimin will not enjoy any allowances or medical coverage but if he quietly keeps some 1000 rm per month in his ASB account as his future insurance, he should be better off than the Engineer in Malaysia.
On top of that he does not have to declare RM6000 per month, he can always under-declare and there is no way the Tax department can check on this. He can always say 300 coconut per day maximum which is believable and that turns out to be RM15600 per annum which is not taxable.
While the employed engineer get taxed for every cent in his pay-slip.
Only risk for Mr coconut trader is that weather and supply of coconuts are the risk factors and probably competitions in the coconut selling because only at the Tamu he has some kind of monopoly.
Think about this you union leaders.
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