Many Pinoys decide to give up their regular jobs just to get a taste of what’s it’s like to be their own boss. Being an entrepreneur is something many Filipinos aspire to be as they have the opportunity to be fully compensated for what they work for, get to control their own work schedule, and make the most important decisions for their business.
However, the number one consideration in setting up a small business in the country is the capital. Several Pinoys are daunted by their belief that businesses need large capital in order to be successful.
Good news is, you don’t need to empty your savings account or borrow from a loan shark in order to be an entrepreneur. Here’s a rundown of top hot small businesses that do not require a huge capital but earns well.
Small Business Ideas for Pinoys With Small Capital
1. Sari-Sari Store
Sari-sari store business is probably the most common small business in the Philippines. Setting up this type of business is relatively easy as you can put up your own store in front of your house. From cooking oil to shampoo, you can sell just about any type of products that Pinoys need for everyday lives. You can even put up a loading business inside the store for additional income.
2. Baking Business
If you’re a dessert genius, then putting up a baking business is the easiest and most fun way to earn money. While doing your passion may seem very easy, you also need to consider getting baking materials and equipment, finding an adequate kitchen, and devising a good marketing plan for your baked goodies. Tie up with caterers so that you’ll have a steady-flow of clients.
3. Rice Retailing Business
Every Pinoy consumes rice in almost every meal so rice grains will definitely sell like pancakes in the country. In this kind of business, you need to invest on a business space situated in a key location. Offering delivery can make it more convenient for your customers to receive their sack of rice.
4. Online Selling
Are you a home buddy? You can actually earn at the comfort of your home with just a few clicks in the internet. Nowadays, it’s easy to sell products in social networking sites such as Facebook and Twitter. Keep in mind that you need to think of a unique product to sell and offer easy payment methods for your clients. If you can, offer online payment services.
5. Food Cart
Rather than starting from scratch, many business-minded Pinoys opt to franchise food cart business since the operations, marketing, and several aspects of the business have already been tested. It’s important that you get a food cart with a reputable name.
PHOTO CREDIT: Vista Malls
Putting up a food cart with your very own products is also advantageous as you will be spared for paying royalty fees and you certainly get to earn more from this set-up. This also means you need to work harder to get a name in the industry.
6. Photography Business
If you’re always behind the lens during events, why not give photography business a shot? It’s a necessary service in events like birthdays, weddings, even family shoots as well as prenup pictorials. For you to thrive in this business, you need to make the right connections with videographers, event stylists, and party planners.
7. Street Food Business
Almost all Pinoys love street food whether fish balls, isaw, or kwek-kwek because whether you’re sosyal or not, these street treats actually taste good. All you need is a good supplier of clean street food products, a food cart, and a reliable manong-vendor. Do remember that you need to secure licenses and permits. Also, selling street food is not limited to kariton as you can also use vans, food stall or gazebo.
PHOTO CREDIT: Joint Ctr
8. Detergent and Soap Business
This type of business can be seen in almost all towns in the Philippines. Selling generic detergents, soaps, and even fabric conditioners is becoming a big trend in the country as many Pinoys tend to patronise whatever is cheaper. You can sell these products both in online and physical stores.
9. Printing Business
We see tarpaulins in almost every Pinoy occasion may it be birthdays, company parties, weddings, and even funerals. While setting up a printing shop in key locations is a good option, many entrepreneurs get more customers all over the country and even abroad in online printing shops. Quick tip: This business does really well during campaign season.
10. Ukay-ukay Business
Do you love giving second-chances? Well, many Filipinos do in terms of clothes that’s why ukay-ukay shops are all over the Philippines. Considered a lucrative business, there is no need to market your store as you can expect a sea of shoppers who patronise second-hand clothing. The pricing of the products depends on the owner but make sure to have enough mark-up in order to accommodate customers who love to bargain.
We hope that our list helped you move closer to your dream of becoming an entrepreneur. With proper planning, right sourcing, and key connections, setting a small business with low capital can be your next step to success.