There are over 500 startup companies in the Philippines, and there’s no stopping the exponential rise in its numbers over time. This is due to the many perks offered to foreign investors, from government incentives to a wealth of global business opportunities. Even in launching your own startup, you don’t need a huge capital to make huge profits. A successful business can be built here with just a small starting capital.
If you’re planning on planting the seeds of commerce in Philippine soil, here’s a list of the best Philippine-based business startup ideas:
Estimated capital: Php 10,000 to Php 50,000
With many in the corporate sphere making the move from the brick-and-mortar office to the virtual world, the result is a notable rise in e-commerce and virtual stores. In the Philippines, the online shopping industry is expected to grow around 10.5% annually. Moreover, the e-commerce industry is expected to have a market value of $3.370 million by the end of 2020.
The beauty of running an online shop is that you don’t have to deal with the stresses that come with a traditional brick-and-mortar business model. There’s no physical store that needs tending to. Meanwhile, e-commerce provides business owners with added flexibility in the movement of goods from the seller to the buyer. However, it would be best to first do some market research before going on your e-commerce business venture so you can find your niche.
The following are some of the ways you can run a virtual store:
Digital marketing service
Estimated capital: Php 1,000 to Php 5,000
The prevalence of social media has emphasized the importance of creating an engaging online presence. Companies see the potential of social media to help them in keeping their branding on point on this platform. Recognizing this, more digitally savvy businesses are now looking for online marketers who can provide effective marketing strategies on popular sites like Facebook, Instagram, and Twitter.
As a digital marketing service, you’ll be offering packages like social media marketing, graphic design, content writing, SEO, and SEM. This is an ideal business to start in the Philippines because you’ll have access to a workforce that is adept at maximizing online marketing strategies and producing noteworthy content.
Estimated capital: Php 20,000 to Php 50,000 (depending on the type of franchise)
Acquiring a franchise business is ideal for those who don’t want to start from scratch. The main business provides investors with a guide on how to successfully manage their franchise. All you have to do is keep supplies stocked and manage your employees.
A big advantage of going into the franchise business is that there are so many franchise varieties, all of which are quite lucrative. It can be a water refilling station, saloon, payment center, or fast food restaurant – the choices are endless!
In the Philippines, food franchises are instant hits. Food stalls are everywhere, from malls and bazaars to bus terminals and train stations. When people want something easy, quick, and convenient, they’d head for the nearest food stall.
Water refilling stations are also very popular. Every community has at least one water refilling station where most households order their drinking water.
Estimated capital: Php 10,000 to Php 20,000
If you’re looking for something that requires little supervision and input, then vending machines could be an ideal investment for you. There’s no need for a day-to-day staff and no significant overhead costs. You also have a variety of vending machine types to choose from such as:
The costs of these machines vary depending on the type, model, and brand. The most important thing to consider about a vending machine business is location. Find a place with heavy foot traffic like malls, waiting areas, and the like. Schools and workplaces are also ideal.
Estimated capital: Php 50,000 to Php 100,000
A laundromat or laundry service center is a great small business idea for those living in the city. Filipinos are living an increasingly fast-paced lifestyle and thus, they have less time for chores. Laundry services also cover a wide range of clientele like students, families, and professionals. A coin-operated laundry service gives people a convenient and efficient way to do a typically tedious, but necessary, household chore.
The number of staff you need for this business depends on the type of laundry service. Complete laundry and dry-cleaning service needs more employees compared to a self-operated laundromat.
Thinking of launching your own startup business in the Philippines? Get in touch with the experts at FilePino today! Call us at +1.806.553.6552 (USA) or +63.917.892.2337 (Philippines). You can also reach us here.