Did you know that there are certain types of businesses that are just profitable during certain seasons or months of the year but are just so-so on other days? If you are planning to start a business, it pays to consider this before you invest your money because if you go for this type of business, then you must make sure to have other options during off seasons!
But for a less risky business, you could always opt for these 5 evergreen business options that will always be profitable, no matter the season.
With food as a basic human need, food business will always be profitable. You just have to make sure that you do a feasibility study first so you can learn about your market and your possible options, so that you can choose the best products to sell, find the perfect place to put your food business, and use the proper advertising channels to promote your business.
One of the best examples can be seen in the Mang Inasal story:
What makes franchising business a good option is that you already have a name, a brand to rely on. For example, if you decide to franchise a Goldilocks bakeshop (See: How to Franchise Goldilocks Bakeshop in the Philippines), you don’t have to spend much on advertising because, well, the brand speaks for itself and is already well known in the country.
Of course, not all franchise businesses are created equal – and you might have to do extensive research to find the one that best suits your capital and skills.
What makes this option also ideal for many startup entrepreneurs is that the brand might even meet you halfway! Check this out:
The bulk of the country’s population is comprised of school-aged kids and teens; and the country has also started the full implementation of the K-12 program which added 2 more years to the old education system. This is the reason why an education-related business will always be profitable.
Depending on your skills, you can offer tutorial services – and that’s already one kind of viable option in this category.
If you have ample capital, you can start a business selling school supplies and other relevant materials/guides needed for school, such as laptops and computers.
And if you do have a lot of money lying around or can find enough capital, opening a school can be a really profitable business; although this will require you a huge amount of capital.
Filipinos are known around the world for being good in English; thus, the BPO industry has become one of the most profitable in the country. For this reason, you know for sure that BPO services will always be profitable.
You have plenty of options here, depending on your budget and skills, of course.
Opening a training school for call center agents is a good option but if you can afford it, franchising or opening your own BPO center can be a very lucrative business.
There are millions of OFWs across the world – and there are also thousands of Filipinos who are working in the country but aside in islands or cities that are far from their own families. With Filipinos having the culture of giving back and supporting parents and siblings, not just their spouses and kids, millions of dollars/pesos are being sent to and across the country each day.
You can use this to your advantage. A remittance center will be a good choice for you. One good option is the Bayad Center because you can also collect payments for various bills, mostly from huge companies, aside from also accepting remittances.