Many University of Memphis students have dreams of one day owning a business of their own.
For senior English major Pete Nelson that dream is a double reality, he owns two businesses, AgroTech and SIP Coffeehouse.
"I am very entrepreneurial and enjoy being active," Nelson said.
He co-founded AgroTech five years ago after sensing many companies wanted to use more organic resources during production and needed instruction on how to do so.
"We sell info related to environmental projects," he said.
He gave an example. "Like if a cosmetics company wants to leave petroleum-based products and move on to soy-based products instead."
Nelson has two business associates and three established professionals from the Memphis area.
So far the company has made $400,000 since it began in 2000. Their largest contracts are with the U.S. Department of Agriculture, with an emphasis on entrepreneurs and students.
"We are taking technologies and making them more accessible for business people," he said.
They get most of their clients from going to conventions and giving presentations.
SIP Coffeehouse is a cooperative effort with Midtown Books and Midtown Artist Market, a gallery for local artists. He co-owns SIP with Amy Williams.
Amanda Bearden who works at Midtown Books enjoys working with Nelson.
"Pete is great fun and easy to get along with," Bearden said. "He's always on the phone doing a business deal."
Nelson has always had an affinity for books and writing which is why he became an English major and enjoys working so closely with the bookstore.
"Originally before I dropped out (from college in North Carolina), I wanted to be a writer," he said. "I love reading books and writing."
SIP offers everything you expect from a coffeehouse along with deli sandwiches and desserts. They also have live music Saturday nights.
Since opening in March, the shop has at least 20 regulars and up to 80 other patrons come in every day. Business is good, but Nelson does not plan on being the next Starbucks.
"We are the anti-Starbucks," he said.
He would not be against opening an additional store downtown.
Although, Nelson is passionate about his work, he does feel the pressure of being both a student and a businessman.
"I had a very important AgroTech meeting at the same time I had a chemistry lab due," he said. "I had to convince my professor to give me full credit because the meeting was with a company I had been trying to get a meeting with for a long time, and I could not reschedule with them," Nelson said.
Fogelman instructor Roger Iles said students should not have unrealistic expectations.
"Students should carefully consider the time they will invest with their business and with studies," he said.
Iles is speaking from firsthand experience since he owned two businesses in college.
"I ran an insurance business and a car-racing business," he said.
Benefits of owning your business directly reflect your educational experience.
"Particularly if you are a business student, you can apply what you have learned directly to your business," Iles said. "This can apply to any business. If you are a fine arts and communications major, it applies to you too."
Nelson said he feels he is on the right path.
"I feel like I am where God wants me to be," he said. "I am on the right path."
