Life often unfolds in unexpected ways, shaping who we are through a series of seemingly minor events that culminate in profound transformations. The story of a yellow Subaru named Ella, a car that embodies cherished memories and pivotal moments, serves as a testament to this notion. As the proud owner of Ella, I reflect on the events that led me not only to a car repair dilemma but a journey towards entrepreneurship that would ultimately redefine my life and career.
When Ella was involved in a hit-and-run incident, it felt like a major setback. The repair costs, estimated to be between $1,500 and $2,000, were daunting. To us, that amount represented nearly a full month’s worth of labor. It was during this challenging moment that an idea sparked: a friend suggested selling our beloved homemade banana pudding to raise the necessary funds. This proposal was met with unexpected enthusiasm. Inspired by the support of our friends and family, we embarked on a culinary adventure that would change our lives forever.
The Birth of Banana’s Banana Pudding
Fast forward to the present, and I proudly stand as the co-founder and chief executive of Banana’s Banana Pudding, nestled in Jersey City. In 2024, our annual revenue surpassed an impressive $450,000, a testament to the hard work and dedication that my partner Lloyd and I have poured into this business. The initial leap into entrepreneurship crowded with uncertainties, notably marked by the bold decision to take a $150,000 loan for our business build-out. For broke college students, this decision was akin to diving into the deep end.
Reflecting on those early days, we were often frustrated by the high prices at our favorite dessert spot, Magnolia Bakery, located only a short drive away in New York City. We loved indulging in their banana pudding but realized that the cost was not sustainable. With limited finances, we decided to recreate this dessert in our own kitchen, pouring love and effort into every delicious layer of our pudding. Everything was meticulously hand-layered and hand-cut, ensuring that every scoop delivered a perfect bite. Excitedly exposing our creations to family and friends, we quickly realized we had a unique offering that could resonate with our community.
Our philosophy goes beyond just serving dessert; we emphasize quality. Each layer contains rich mousse, crunchy wafers, and fresh fruits, crafted with the kind of care that recalls the comfort of cooking alongside a beloved grandparent during holiday gatherings. The whole experience is akin to creating Christmas cookies with family – a joyous, sometimes chaotic, yet fulfilling process.
Embracing Cultural Heritage
Our decision to venture beyond traditional banana pudding came as a natural progression. Our team recognized our diverse community in Jersey City, frequently cited as one of the most multicultural cities in the United States. We wanted not only to introduce our delicious products but also to celebrate our Filipino heritage within our offerings. Our standout dish, the ube mousse, harnesses a family recipe for ube jam passed down from my wife’s illustrious lineage. Ube, a sweet purple yam native to the Philippines, has become increasingly popular in modern cuisine, and we take pride in honoring our roots while also introducing new flavors to our patrons.
In analyzing our financial journey, we experienced fluctuations in revenue and operational costs. In May 2025, we reported a revenue of $62,096 with a cost of goods around 30%, which allowed us to maintain a net profit of approximately 15% of our gross revenue. We pride ourselves on the percentage of profit margins, particularly in times of high demand such as catering events, which provide us with significant profit opportunities.
The Lesser-Known Realities of Entrepreneurship
Despite the sweet success we have achieved, owning a dessert business is far from glamorous. On rainy days, when we have commitments at outdoor markets or catering gigs, the realities of entrepreneurship can test one’s resolve. Maintaining an upbeat demeanor during downtimes—like monitoring weather conditions that threaten outdoor sales—requires a considerable amount of motivation. I often find myself reassuring my crew that the rain “is just the earth needing a drink.”
One pivotal moment that pushed our dreams closer to reality was winning a $15,000 grant for a business plan competition hosted by Jersey City. The victory catalyzed our ambition and proved that we could make the coffee shop dream a tangible reality. Since then, Lloyd and I, alongside our team of 12 talented members in Jersey City and others in the Philippines and Nigeria, have strived to create an encouraging, productive work environment that fosters creativity and growth.
A Journey of Discovering True Value
Throughout our entrepreneurial journey, I’ve learned that success is not merely measured in revenue. In 2023, we expanded to three stores but soon faced challenges that necessitated a reduction in our physical locations. This experience was sobering, yet illuminating. Transitioning from high-profile recognition to what felt like disappearing back to a single scoop shop in Jersey City left me questioning the essence of true success in business.
Ultimately, I discovered that business ownership is about balance. It’s crucial to focus on what you take home, both financially and emotionally. This realization marked a turning point for me—shifting from the allure of top-line revenue to understanding the significance of quality in work-life balance, emotional fulfillment, and the peace that follows navigating tough decisions and setbacks.
As I stand in our store today, I am filled with gratitude for the journey thus far. From the unflattering hit-and-run accident that introduced me to the entrepreneurial world to the ongoing adventure of building and redefining our small business, my partner and I are continually learning. It’s not only about the success we achieve but the love we pour into this venture and the pride we have in the community we serve. Every scoop we serve is not just a dessert; it embodies our history, culture, and the indomitable spirit of chasing dreams.
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