In the Philippines, small businesses reign supreme. In fact, the small and medium enterprises in the country make up 99% of registered businesses. And they can cater to a wide range of growing demands, from clothing to personal fitness training and even plants.
If you’re thinking about setting up your own small business, here are some great ideas to get you started:
- Online tutoring business
Online teaching is one of the biggest industries in the Philippines. And the beauty of it is that you won’t be limited to academic subjects. You can also teach music, art, and other topics or subjects that you are knowledgeable and passionate about. All you need is stable internet connection, a laptop, a webcam, and headphones.
Start-up capital: P2,000 to P30,000
- Baked goods
It’s no secret that most Filipinos have a sweet tooth. Baked goods, in particular, are a favorite. If you enjoy creating sweet treats, starting a baking business is a great idea. Whether it’s unique-looking cupcakes or traditionally baked bread, you’ll have fun and earn money out of your hobby at the same time. Start small with pre-ordered specialty goods. Once you have some following, try and offer more selections.
Start-up capital: P3,000-P5,000 (if you already have equipment); P30,000-P40,000 (including equipment and materials)
- Online clothing business
Online shopping has been a growing trend in the Philippines over the years and it shows no signs of slowing down. Aside from e-commerce sites and online marketplaces, you can also shop on social media platforms like Facebook and Instagram.
If you’ve always wanted your own clothing business, start by going online. It will be much cheaper than running a brick-and-mortar store.
Market research is crucial when starting an online clothing business. Who is your target audience? What do they like or dislike? This will help you when it comes to marketing to potential shoppers.
Start-up capital: P3,000-P20,000
- Sari-sari store
One of the most common small businesses in the Philippines is the sari-sari store. No neighborhood is complete without it. From shampoo to cooking oil, you’ll find a variety of goods in a sari-sari store. And the great thing about it is that you can set it up right in front of your home.
The key to a successful sari-sari store is to find out the basic needs of your neighborhood. Do market research and find out what your neighbors frequently buy.
Start-up capital: Around P10,000
- Meal plan and delivery business
Many Filipinos nowadays are looking for delicious, healthy, and affordable meals that can be delivered straight to their home or office. If you’re passionate about food and sharing it with others, a meal plan and delivery business would be a great choice.
Just like starting any other business, find out exactly what Filipinos are looking for when it comes to meals. It’s best to start looking for a long-term product that you can provide instead of what’s trending now.
Start-up capital: P30,000-P100,000
- Food carts
Franchising is among the most popular business ventures in the Philippines. It provides Filipinos with plenty of opportunities that allow them to get their feet wet when it comes to entrepreneurship and investing.
The food cart franchise industry is appealing due to its low capital investment and easy set-up. Food carts are also easier to manage, maintain, and transfer. Many large companies offer a variety of packages when franchising their business. A successful food cart depends on the location, the right product, and the right price.
When done right, you can expand and control multiple food cart franchises.
Start-up capital: P30,000-P300,000
- Laundry shop business
Owning a laundry shop caters to people who don’t have the time and the space to do their laundry. Before you decide whether to start a coin-operated, self-service, or full-service laundry service, check out your competition and what the customers need.
Just like a food cart business, starting a laundromat requires a good location. Having a high volume of customers is essential to its success. While the initial investment can be pricey due to the equipment needed, you can easily get your return on investment if you prepare and manage it well.
Start-up capital: P250,000-P1,000,000
Be your own boss by setting up your own business today! Let FilePino assist you with your entrepreneurial endeavors. We have a wealth of experience when it comes to start-up businesses in the Philippines and how to get them off the ground. Get in touch with us today at +63.917.892.2337 or contact us here to learn more.