With 2017 just around the corner, be prepared to make your New Year’s Resolution soon – but while most people would probably resolve to lose weight, exercise more, find work, do better in their studies, or some other common thing people think of as their resolution, you can try something else: start your own business!
We share here 21 best business ideas in the Philippines for 2017 to help you choose…
I. Business Ideas You Can Start for Free or for Minimal Capital
1. Online Freelance Services
While many people consider online freelance services as a job more than a business, it can actually be considered a business especially because, technically, you don’t have a fixed boss (although many freelancers also have a regular, fixed boss, actually).
You can start a company offering freelance services and hire writers, web developers, and other team members to help you fulfill jobs for your clients – or you can work by yourself! Either way, it is a good business to start with no capital at all!
2. Drop Shipping for Online Stores
There are a lot of online stores that actually give chance for resellers to earn money without physically sending them the items; instead, the resellers are the ones who contact the clients to sell the products for the store but it is the store that sends the products to the customers. This way, the reseller does not have to sell the items at a high marked up price because the shipping fees are minimized.
A great example for this is the t-shirt business we discussed on “How to Start an Easy, Hassle-Free Online T-Shirt Printing Business.”
3. Tutorial Business
In opening a tutorial business, you don’t really have to have a lot of money – but you do need to have skills! If you are good at something and feel that you can impart this knowledge to your students, then a tutorial business might be the perfect one for you! You can provide tutorial services for kids to be more advanced in their lessons or, perhaps, teach them how to play musical instruments.
4. Load Retailer Business
Everyone has a phone these days – and you can use yours to earn money easily! Prepaid load is a valuable commodity in the Philippines, whether Filipinos want to admit it or not. You don’t even have to shell out a lot of money for this kind of business. All you have to do is but the retailer SIM cards from the service provider, load up depending on your capital, and start selling prepaid load.
What makes this business awesome is that you can sell load anywhere you go – so can have extra cash even while you are working at the office or in school or going to some vacation.
II. Business Ideas You Can Start for Less Than Php100,000
5. Ukay-ukay Business
There are a lot of bulk sellers offering bundles of ukay-ukay clothes that you can buy for a cheap price and resell in your locality. These bundles come cheap; although you are not assured of the quality of all the clothes but there are surely plenty that look like new or are of high quality that you can sell them at a higher price.
6. Bags and Shoes Reseller
Filipinos love to make sure their bags and shoes match their outfits; this is the reason why there are plenty of bags and shoes resellers online. You can even find sellers who allow you to simply order stocks from them according to sizes and designs so you wouldn’t have to buy items from them that end up getting stocked in your house, unsold.
7. Pet Shop
Filipinos are pet lovers – and not just the Pokemon pet type, of course, but the real ones! If you are also an animal lover, then this business is good for you. Did you know that this can have a high return on investment?
Let’s say you bought a female dog of a certain breed and pedigree. You might have to shell out anything from Php5,000 to Php50,000 (or more!), depending on the dog breed, but once the dog grows and gets pregnant, you also get the same amount back for each puppy you sell. Now, remember that dogs have an average gestation period of 58 to 68 days – and they often give birth to more than one puppies!
8. Food Cart Business
Filipinos love food! You can bank on this fact by opening a food cart business. There are actually plenty of food cart franchises that you can open even for as low as Php25,000! Although you do have to shell out some more cash to maintain and grow your business if the capital is this low but at least a lot of people now have a chance to start their own business even without a huge capital.
9. Rice Retailing Business
Because rice is the staple food in the Philippines, selling rice is also going to be a lucrative business because everyone from the poorest to the richest families actually eat rice in this country! It is easy to sell rice.
All you have to do is find a supplier, buy a weighing scale (choose the one with a deep bowl), and set up your shop. Of course, as with other types of businesses, you have to obtain the necessary permits from relevant authorities (BIR, mayor’s permit, etc.) but in rice retailing, you also need to get a permit from the National Food Authority (NFA).
10. Carinderia Business
Because Filipinos really love food and enjoy sampling various dishes, a carinderia business will never get out of style. All you need is a space for your carinderia and a good cook who can provide your customers with delicious food!
III. Business Ideas You Can Start for Less Than Php500,000
11. Meat Shop Business
Selling meat is also a good idea because Filipinos love to treat themselves with food. As long as you find the right supplier for your business and a person who knows how to cut and carve meat according to specific cuts/parts, then this business will bring you good money.
12. Photo Booths
Have you noticed how Filipinos love to take photos and share these on social media? Well, there’s also another new trend these days: photo booths! You do have to invest money on the photo booth which looks like a karaoke booth – and you have to have some photo editing skills so you can create templates for your clients but this kind of business is booming because Filipinos also love to party. Photo booths simply make parties and special occasions more fun!
IV. Business Ideas You Can Start for Less Than Php1 Million
13. Laundry Shop Business
With so many people so busy with their careers and families these days (and in catching Pokemons, too), they might not have enough time to do their laundry. This is why a laundry shop business is perfect, especially in busy towns and cities!
14. Convenience Store Franchise
Filipinos enjoy having their basic needs provided near their homes so they wouldn’t have to stock up on plenty of items that might only get spoiled and rotten as they lie forgotten in storage. This is the reason why convenience store outlets like 7-Eleven are getting more popular in many areas.
The good news is that instead of having to shell out Php3.5 million for this type of franchise, 7-Eleven now offers franchise options for less than Php1 million! This could be your chance to open a popular business without needing a lot of money!
15. Lotto outlet
Lotto tickets are among the easiest to sell because a lot of people wish to take the chance of turning their Php10 or 20 to millions! That’s the easiest way to make a lot of money, after all. Lucky for you, you don’t even have to buy a huge lot to open this kind of business because all you need is a small space (just at least 2m x 2m) for your lotto outlet – although they will only approve locations that allow the store to face the main corridor or the road.
There are also special requirements for lotto outlets, such as ensuring that this is not near a school or other lotto outlets. You also have to place a bond with lotto’s Treasury Department, amounting to at least Php300,000 for cash bonds and Php700,000 for surety bonds.
For more information, see – Business Guide: Applying for a Lotto Outlet in the Philippines
V. Business Ideas You Can Start for Less Than Php2 Million
16. Catering Business
A catering business can also be quite a lucrative venture, especially if you get to find cooks who are good at creating delicious menus without breaking your wallet. In this type of business, you do have to shell out a lot of money at first, since you have to buy equipment for your kitchen, chafing dishes (which are actually quite expensive) and various serving equipment that are nice and presentable, tables and chairs, table cloths of various colors and matching cloth napkins, etc. You also have to have at least one truck or van for delivery.
Still, once you get a foothold in the local catering scene and get enough clients, business will soon pick up and you wouldn’t have to shell out more money for equipment.
17. Bayad Center Business
With people having less time to go to all the offices of the utilities they have at home, bayad centers (payment centers) are becoming more popular as they only need to go to one place to pay all their bills! Bayad Center franchise will cost you around Php1.2 million – the good news is that you can place this kind of business in an existing store and you can operate both at your leisure.
18. Drug Store Business
It is a sad fact of life that we get sick no matter how careful we are and no matter how healthy our lifestyle might be. This is the reason why a drug store business can be quite profitable. Depending on the drug store brand you choose to franchise, you might need other extra requirements before your franchise application is approved (most brands require that your location is near a hospital or busy public place such as a public market).
The capital you need will also depend on the brand you choose and other factors but you might need something from Php650,000 to around Php1.5 million for generic drug store brands.
VI. Business Ideas You Can Start for Php2 Million or More
19. Gas Station
Gas has become a basic necessity for many people these days; thus, a gas station business has become quite a lucrative business – just notice how many of these are popping in your town/city even if the fuel prices are low these days!
While prime brands have costly franchise fees, you can now find lots of cheaper brands in the market. These brands offer franchise fees as low as Php250,000 although you still have to invest some Php2 million or so to actually have a fully operational gas station.
20. Goldilocks Bakeshop
Franchise fees for opening your own Goldilocks bakeshop will only cost you about Php800,000 but you have to shell out anywhere from Php6 million to Php8 million before you can actually operate the shop. The good news here is that you don’t have to spend money on advertising because the brand is very popular in the Philippines! Just make sure to pick a spot with plenty of foot traffic so people can easily reach your shop and buy the goods you offer.
21. Fastfood Business
Alright, we placed this last on the list because not too many people can open this type of business quite easily as this does require a lot of capital to put up – surely at least Php20 million for well-known brands like Jollibee and McDonalds! However, this is also among the most profitable business anywhere you open it, especially if you choose a good spot for your store.
Still, if you have this kind of money simply lying around (or you can team up with your family to reach this amount, of course), then we highly recommend this business, especially if you have ample space to offer for parties and special events.
Don’t forget to invite us on opening day!