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bankrupt entrepreneur overcomes debt to build booming sausage business
A Chinese businessman who once owned three popular restaurants has staged an extraordinary comeback with a roasted sausage brand, inspiring many across the country.
According to a report by South China Morning Post, Tang Jian, 57, from Qingdao in Shandong province, experienced the highs of business success in the early 2000s. At the peak of his ventures, his restaurants and bars generated as much as three million yuan (US$420,000) a month.
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However, Tang admitted that he became “greedy” and poured both personal funds and borrowed money into maple wood and other industries he knew little about. By 2015, his risky investments left him with debts amounting to 46 million yuan (US$6 million).
Tang filed for bankruptcy, shuttered his restaurants, and sold his assets, though the proceeds fell far short of his debt. The crisis took a heavy toll on his personal life. He frequently argued with his wife, who later divorced him. Tang confessed that he contemplated suicide but held back, thinking of his mother, his child, and the creditors who had trusted him.
Determined to rebuild, Tang opened a roasted sausage stall in 2018, just a short distance from one of his former restaurants. At first, he wore a mask to avoid being recognised, but when a neighbour spotted him, he decided to face reality openly.
Working with his 74-year-old mother, Tang invested just 35 yuan (US$5) in a sausage stuffer and began producing sausages by hand. He sourced high-quality pork from an upmarket supermarket, displaying receipts on his stall to reassure customers. Gradually, he regained the trust of his community.
Today, Tang's roasted sausage brand has flourished. His factory produces two tons of sausages daily, with sales reaching 200,000 yuan (US$28,000) a day. He has expanded into shopping centres and successfully adapted to challenges posed by the Covid-19 pandemic by turning to live-streaming.
As per SCMP, Tang's social media account now boasts 1.2 million followers, and he claims he can sell products worth one million yuan (US$140,000) in a single live session. Despite this success, Tang says his debts remain unchanged because he reinvests heavily into the business. Using artificial intelligence to chart a repayment plan, he believes he can clear all debts by 2027.
Reflecting on his turbulent journey, Tang expressed gratitude to his creditors for their patience and faith. “A fall into the pit, a gain in my wit,” he said.
“Even though my future is not bright, I can stay strong longer than others. The thing you keep putting effort into will repay you one day,” Tang added.
Source: HindustanTimes
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