Entrepreneurs are people who establish and manage enterprises with dedication and hard work. They might be inventors or have produced a new product or service through their expertise and talent. It is a career that demands creativity, patience, excellent communication skills, and self-assurance. Start-ups are among the most fascinating and fast-paced workplaces. People in start-ups are typically not bored since things are always changing at a rapid pace. They will appreciate the challenge of competing with other businesses to give consumers the greatest service or product. Entrepreneurs can build a profitable business out of something they genuinely care about.
Many people like the idea of being an entrepreneur, but not all can fit or adjust according to the requirements. John Shen is one of the most successful examples in the world of entrepreneurs. He is the visionary behind the breakthrough integration of senior loan origination in banking with EB-5 operations. Shen established the American Lending Center (ALC) to help and support the growth of US small businesses. ALC has grown to make small business loans in 19 states and the District of Columbia. A total of 82 small business projects have been effectively sponsored and completely funded by ALC. ALC’s innovative method lowers risk in both capital operation by originating bespoke senior loans with third-party construction fund oversight and on-site supervision.
Sunstone Trust Company – The first “TrusTech” on the horizon
Some high-net-worth ALC and Sunstone Management clients chose John to act as trustee of their US-based trusts between 2015 and 2017. Despite already operating two firms and supervising Eritage’s management team, Shen thought that the trust industry might become his newest project. However, establishing a trust corporation entailed overcoming a significant hurdle that includes obtaining a California chartered license under the Trust Law and a time-consuming and long procedure that would take many years. The most recent California trust license was approved more than 15 years ago, demonstrating how tough it was to get. Shen hired a law firm that specialized in financial licensing. Daniel Wheeler, his lawyer has vast expertise in dealing with the banking business and guided Shen through the application procedure. When Daniel left his legal practice to pursue another opportunity, Shen urged him to take over as CEO of Sunstone Trust Company. The trust license was granted to Sunstone Trust Company in April 2021. The firm’s primary shareholder and the controlling party is John Shen.
Sunstone Trust Company was able to begin and swiftly enroll trust clients because of a prominent client base of high-net-worth Chinese families involved in ALC and Sunstone Management. The business is now looking at espanding its services to fund administration as well as providing liquidity to small to medium sized asset/fund managers. It is creating a technology-based trust operation to become the first “TrusTech” in the trust sector.
Partake Collective – A Novel Blend of Ghost Kitchen, Test Kitchen, Food Hall, and Retail Market
In 2019, Shen served on the Long Beach Economic Development Commission. During one of the commission’s monthly sessions, a group of restaurant owners informed the panel that around 30% of the city’s restaurants had closed in the previous year. The popularity of takeaway delivery meals, as well as the emergence of food delivery firms such as Grubhub, DoorDash, Uber Eats, Postmates, and others, was the cause. Restaurants no longer need a huge dining area and a large crew. Shen identified the potential for a unique business opportunity that was specialized facilities to make meals for takeaway and delivery. As a result, Partake Collective was created. In 2020, he acquired a building in Long Beach and began refurbishing it to include a variety of kitchens of various sizes.
Shen began working with Adam Carillo, a Long Beach marketing professional, and eventually recruited him to lead Partake Collective. With high demand from young cooks looking to establish their businesses, practically all commercial kitchens were rented out within months. The goal is to recruit cooks who would not typically be able to operate a restaurant, notably minority and female restaurateurs. Partake negotiated a streamlined permitting procedure with the City of Long Beach, allowing kitchens to operate in 2 to 4 weeks after signing a one-year lease. The company’s purpose is to assist its clients in growing their brand, attracting returning consumers, and increasing their revenues, including designing a retail distribution strategy for their food.
In addition, the Long Beach location has a communal kitchen that may be hired on a short-term basis by businesses looking to test new goods and community organizations needing to prepare for big gatherings. There is also a “food court” section where customers may order food and enjoy it on the spot. There are also plans for an “incubator” program for restauranteurs who need training in the new food preparation for a delivery business model. John Shen is a huge supporter of people who struggle in life while providing such people with several growth opportunities.
