Lu Lu, whose real name is Lam Quoc Khai, founded the Saigon Tan Thoi lotto troupe in 2017, and since then has helped transform this art form. The reputation of Saigon Tan Thoi is no longer limited to Ho Chi Minh City, as the troupe has also toured abroad.
However, in the Extra Money podcast series by Rising Vietnam, Lu Lu shared that when she founded Saigon Tan Thoi, she did not focus on profitability.
“All the startups I’ve done only need to make a small profit, just enough so that my salary is the same as my previous job,” said Lu Lu. “I’ve done a lot of startups, but they haven’t lasted long. Before officially quitting my office job, I started a handmade business, and the profit was double my previous income, so it was effective.”
Starting a laundry business with just over $200 and founding a lotto troupe with $200
Even as a student, Lu Lu took on various jobs to pay her tuition fees. In her third year of university, she landed a job as a graphic designer and also opened a laundry service in her rented home.
“I borrowed $520 from my mother, but a 10 kg washing machine cost tens of thousands of dollars. So I went to an appliance store and asked to buy a display model, which I then used to start my laundry business. I only had one washing machine and no dryer, so I used the machine for drying and did the washing by hand. I didn’t have many customers, but the number was stable, and it provided enough income to live on,” Lu Lu said about her first startup.
When it came to establishing Saigon Tan Thoi, Lu Lu had only $200 and “people who were truly passionate.”
“I treasure the members of my troupe and never want to disappoint them. I always want them to be truly successful. I never thought I had to be the richest. When I see troupe members owning cars and wearing precious jewelry, I feel happy,” she confessed.
However, financial pressure is inevitable in maintaining and developing the lotto troupe. This was the point when Lu Lu had to give up the venue.
“When we first started, they invited us to perform to fill the slots for artists. We didn’t need a fee; we just needed the ticket money. However, when we established our own stage, there were hundreds of things to worry about: electricity bills, fixed salaries for employees, security, maintenance, venue rent… The equation changed. We had to make a profit, and there were mandatory expenses.
Fortunately, by that time, our troupe had become famous, but the rent was increasing. When we had to part ways with that stage, I was paying $10,000 a month, and we only performed three days a week. It became too much to bear, so I let it go. The troupe moved to another stage with better rent. Luckily, at that time, lotto programs and game shows were very popular, and they helped us gain a large audience who supported us enthusiastically,” the owner of Saigon Tan Thoi recalled.
Always have money in reserve
Lu Lu shared that her motivation to strive was simply to escape poverty and stop having to ask for salary advances every month.
“I’ve been through a phase where I worked for half a month and then asked for a salary advance. I understand that situation, so financially, I always have to have money in reserve. The bigger the ship, the more prepared you have to be.”
“There was a time when my parents were ill, and I didn’t have any money. No one would have thought that someone who looked so credible would be denied a $400 loan, but it happened. After that incident, I not only set aside funds for my business but also for my family and unforeseen circumstances beyond my control. I always have a separate account that I never touch, and I put a small amount into it each month, labeled as Health,” Lu Lu shared.
The period when Saigon Tan Thoi had to give up their venue also taught the troupe’s “godmother” that there should always be idle money prepared for unforeseen situations.
Sharing her financial perspective, Lu Lu admitted that earning more money is a common desire for everyone, especially those who have struggled. However, she always knows her limits and doesn’t aim too high beyond her capabilities at any given time.
“I know my limits, but I still strive and wait for opportunities. When my passion could finally be realized, it was already stable from the very first performances. Saigon Tan Thoi is a successful startup that has provided me with strong financial resources that continue to this day,” Lu Lu said.
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