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Which business should we get into?

Hi. Me and my wife are moving back to the Phils and would like to know what is a good business to get into. We've been away for many years and are not in touch with business trends at home.

I know I'm not providing any back ground about us and our specialty. But that is because we want to do something new, anything. As long as with hard work we will be able to make a modest living.

Any suggestions would be great. I'm looking for ideas, so if your idea is wild, it's still OK, we'd like to hear it.

Thanks

Asked By: I Told You SO - 10/26/2011
Best Answer - Chosen by Asker
It really depends on what kind of personality both you and your wife are fond of. For example, if both of you love to eat naturally one of you knows how to cook good dishes. And putting up food stores in a given place is already a start. But it is a lot of work and a lot of financial help. One thing that stuck in my mind is the advice of a well known financial institution, the colayco foundation. I forgot his name that said, find out what people in one area are really sick of. For example as he said, the garbage are all over the place. Nobody is taking care of it. Naturally if you put up a garbage collection truck that can deal with different area in town you can do the job of cleaning up the whole place and get paid for it. There seem no photo copy or scanner in your area back in the Philippines, it is good time to put up a mini-school supplies and photocopier center and scanner for the people there to use and buy things in your store.

Putting up business is not just putting up a house after a while you forgot about it. We need to ask expert that went into that business and ask them the low and the high of making a business similar to that one esp. the risk factor that would involved in such a project. Businesses tend to slow down and probably eat up your financial savings in less than a year or so, so what happen to you then. You are broke.

Every business is a good business in the Philippines because there are a lot of people in the Philippines, and when there are people this is where the money is. First observe what people want to have or to buy usually when you settle down in the Philippines not just put up any kind of business hoping everything would work out fine. What if it doesn't? Second, the feasibility study of the place and your financial capacity to put up such businesses. For example internet cafe or shop in your designated area and a bakery shop just near the internet cafe over looking one another. Just make it simple for now, not a grandeous opening or a big one. And remember the famous line "Big things start with the small one". And for a nostalgic note, SM or shoemart starting in one small corner in Quiapo area in the 1950's just selling shoes but now, SM is everywhere selling almost anything under the sun. The biggest shopping mall in the whole Southeast Asia. Hope you succeed too.
Answered By: delive_rance - 10/26/2011
Additional Answers ()
If you want "to do something new" successfully then to be successful you have to be creative. The fact that you resort to soliciting ideas from strangers on an internet forum tells us you are not. therefore your chances of failure are high.

so get a financial planner, invest overseas and live off the capital gains.
Answered By: Bhuwisit - 10/28/2011
Make a product that utilizes the cheap labor to sell in another country. You're not going to go far by trying to profit from a country that has almost no money....they can barely enforce their own laws!
Answered By: Flattruth - 10/27/2011
Are you Pinoys? If so or if she is then here are a few "wild" ideas. Try getting into the money loaning business. You can get a good collateral from the land (NOT the crop). That way you get 1/2 of the crop for 2 years - less harvest expenses & then be repaid the full loan amount at that time.
Do as the people from India do & sell things to people that have Sari Sari stores - you will have to collect 25 - 50 pesos every day but will earn 100?nterest.
Sponsor an airconditioned barber shop where you get a commission on all haircuts but do not have to cut hair.
Answered By: clncarplz - 10/27/2011
Well that depends on how much money you have for start up capital
FILIPINOS LOVE TO EAT... affordable chichas
there are small franchises of food carts that costs as little as 15k, but if you want your own food business then you can put up a carinderia (as i saw it from entrep mag, u will need at least 20k for this)

FOOD THAT IS CHEAP...
Answered By: Charmian - 10/27/2011
Gun shop
Answered By: buja - 10/26/2011
A gay bar? There are getting to be more and more gays here in the Philippines.
Answered By: Mackeyboy - 10/26/2011
I'll be going back soon myself and i think i will make boarding houses for students
Answered By: devinette - 10/26/2011
You need to slow down to start with. There is no one thing that works everywhere. You have to take some time and observe what goods/services a paticular area needs and fill that need. The problem is has to be something that is not easily duplicated. I can guarentee you if you start a business and it's easily duplicated and sucessful you'll be flooded with competitors. Making a peso is extreamly hard here. You'd also best have a good reseve pool of money put aside until your business takes off.

Don't send me ?'s through YA's. The mail service fails 90?f the time. Use my e mail on my profile.
Source(s):
Living in the Philippines since 2002.
Answered By: oneiloilokano - 10/26/2011
Dormitory for girls... dont forget to put hidden cameras... LMAO
Answered By: Vino Rotcha Kosya - 10/26/2011
Dream BIG, start small. Try franchise business seminars to learn more.
Answered By: Kabarkads - 10/26/2011
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