5 Profitable Business Ideas For Starters
Posted by Allan M. Hinggoy | Sept. 27, 2015, 4:33 p.m.
Although running a business is the best option, it is not that easy! There are things that you have to consider before starting such as capital and type of business to put up. Business that will add value to end-user (market), sustainable and profitable (cash flow).
In this article, we will give you business ideas that you may consider as follows:
1. Water Refilling Business
This business is ideal because this is simple to operate and it has a solid demand. Many houses and offices buy from water refilling stations, so there is a huge demand. One thing you have to consider in starting this business is your capital since it requires at least P 200,000 for the most basic setup. But there are other factors affecting capitalization like the type of delivery and water station equipment you will be acquiring. Things you have to consider to become successful in this business is to look for a suitable location (near large communities), comply with the sanitation code, price should be in line with the market, not sacrifice water quality and offer excellent customer service.
2. Food Cart Business
Instead of putting-up carenderia/eatery, a food cart is one of the businesses that is considered as one of the best business idea since it only requires a small space for your cart and it is very flexible in terms of idea since you can vary its products and services. No wonder a lot of entrepreneurs started from this kind of business. If you are interested in investing in this kind of business, make sure that you will franchise the products that have already made their names and brands but you should keep in mind that if you franchise a brand, you only become a re-seller of the franchisers’ products and not a business owner. Another option is that you can also create your own food cart by simply setting up a food with your own products. If your products are good, you can be a franchisor and become as an inspiration to other people who also wants to do business with you.
Capital: 40,000 – 60,000 for cart, rental of space, permit, products.
Franchise: 40,000 – 200,000 depending on the brand.
This is one of best business idea since it only requires a small amount of capital and it is focused on providing service to people that are busy and does not have time to do house works like doing the laundry. It means that it has a large potential to earn big since the market is large. Of course, you have to consider the location. Experts suggests that the area should be beside a busy street and people can easily walk in to your area.
Capital: 20,000 – 50,000 for home based laundry shop.
4. Sari-Sari Store Business
From the word “sari-sari”, which means variety – selling various products such as snacks, candies, beverages, condiments, etc. This kind of business is one of the most typical business that Filipinos do since it only requires a small capital to start.
Capital: 10,000 – 20,000
Requirements: Lot for the store
5. Multi-Level Marketing Business
Low capital, requires not much effort, no pressure and have a potential passive income in the long run is what makes MLM as one of the best businesses in this generation. This business does not only help you financially but also helps you with your personal growth & business development. It can help you have more connection, increase your confidence, have positive influences and provides you with more doors of opportunities. No wonder that even well-known authors and entrepreneurs like Warren Buffett, Bill Gates III, Robert Kiyosaki, Bryan Tracy, and Chinkee Tan believes in MLM business.
Starting MLM business is crucial since you have several things to consider like the stability of the company, quality of its products and the pay plan since it represents on how you will get paid. Experts says that a company becomes stable once it reaches beyond 5 years. Another cue is how big is the asset of the company. If you are considering to start with this kind of business, a 10 year old company which is Alliance in Motion Global is greatly recommended, it is enlisted in the Philippine stock market, its products were listed in PPD drug handbook (Doctor’s reference), it has a great compensation plan and incentives. Most importantly, you can start this business for as low as Php7,980 to purchase your global package with products worth Php6,000 plus and other benefits.
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