Is there an edge to owning a (small) business?

[peter.pham.us]

How much weight is put on applicants who started their own business? How does this compare to other applicants (analysts, investors, managers, etc.)?

I took some time off and founded a restaurant/bar that later expanded to multifunctional establishment (club, charity, tournaments, etc). I handle all the HR, financial documents, inventory, social media, and a little of the bartending. Basically, I do everything except for cooking and cleaning.

We have been in business for two years, and I am in the process of training a successor for when I'm in B-school. I have returned to finish my undergraduate work, but I am concerned about the transition - what if they ask me "You've barely had your undergraduate degree, why B-school?"

Is it enough to express my desire to continue learning to turn what I have into something greater (or maybe make more of them)?

Thank you for reading and for your input,

Peter

[Jon@Admissionado]

It's more than okay, its great! Starting your own business, especially one that is successful, and wanted to expand is a GREAT goal for business-schools. Think of any restaurant chain you know in the world. They all started with ONE guy and ONE store. Here, it's you. Having a small business is still having a business, and I would say it puts you in a more unique club than software programmers or accountants.

[peter.pham.us]

Thanks for the input PrecisionEssay!

It's great to receive a second opinion on things. I believe a big fear everyone on this forum is dealing with is rejection. Once we get the confidence that we ARE worth the admission, we can gain the courage to overcome that fear.

[Jon@Admissionado]

I agree! Believing in yourself and just GOING for it helps a LOT.

[redr8er]

Good post. I started a small biz & bootstrapped it for a few years before we reached $2 million in sales in 2008. We suffered a bit with the downturn, but we were able to weather the economic turbulence and it looks like we will be selling this month. I've been out of undergrad for 9 years and I want to apply this fall (2012 admission)...do you think I'm too old to be considered a serious candidate now (32)?

[Jon@Admissionado]

Hey! A 2M$ business is not too shabby. You are a bit on the older side, and it means you need to "downgrade" your overall chances when making your strategy by a bit (so, its good to have a bit higher than the average GMAT etc.), but the main thing is with age - to have a GOOD reason to do your MBA. The reason age is a problem is because the programs aren't built for people this age, and it's not sure that it's a benefit at this stage in your career (as opposed to an EMBA), but if it IS and you can PROVE it, (which will be your mission) then you are good.