Many Overseas Filipino Workers (OFWs) dream of putting up their own business in the future. Running a business can help you generate additional income for the family. It also allows you to “be your own boss” – in charge of your time, energy, and money.
You may be thinking, “What kind of business should I start?” Definitely, it should be something that caters to the needs and preferences of many people these days. And so, we have put together a list of the most promising business ideas in the Philippines.
7 Most Promising Business Ideas for OFWs
#1 – Franchise Business
If you have little or no experience in running a business, then franchising could be the best option. Franchise companies can teach you everything you need to know, including setting-up the business, book-keeping, and day-to-day operations. Just make sure that you find a good franchise company with whom you can establish a good working relationship.
#2 – Loading Station
Filipinos are known to be the most avid texters in the world. Aside from sending messages and making calls, they are also active on Facebook and other social networks. Hence, they will need to “load” their phones regularly. That’s where your loading station comes in. You can be a dealer or retailer of cellphone load right in the comfort of your own home!
#3 – Internet Café
Speaking of Facebook, setting up an Internet Cafe is another great business idea, especially if you live near a school. Most students need a place to do research and print their assignments. You will need to invest in computers and a good Internet connection, of course! While you’re at it, you could include a photocopy service to generate more earnings.
#4 – Online Business
More and more Pinoys are going online to buy and sell all sorts of products. The great thing about it is that everything is done online; you do not have to set up an actual store! What’s more, you can take advantage of social media to spread the word about your products. Communicating with potential customers is also easy and convenient.
#5 – Real Estate
Real estate is also booming these days, as many Filipinos are looking for places to live in. You could build apartments that people could rent. You could also be a broker for fellow OFWs who are planning to buy their own house and lot. If you can afford it, you could also get into the business of buying and selling real estate.
#6 – Sari-Sari Store
A sari-sari store does not require much capital, and you can also operate it right in your own home. You can sell food, groceries, and other common household items. You could also combine it with your loading station – making your store a place where customers can find their daily needs.
#7 – Water Station
Water is a basic necessity that everybody needs, which makes a water refilling station a great business idea. You will need to invest in equipment that will filter and treat the water. Once everything is set up, you can expect to gain a high profit in this business.
Starting a business may seem like a daunting task. But once you find the right product, location, and a target market, you can become a successful entrepreneur. Who knows? With a successful business up and running, you may not need to work abroad again!