OFWs make sacrifices in order to provide a nice life for their families. Every year, an increasing number of Filipinos work in other countries.
It’s possible that they’re looking for greater possibilities and wish to improve their talents. However, this is primarily due to the better salary that other countries provide for specific occupations and qualities.
However, you may discover along the way that you are not earning enough to meet all of your family’s demands, prompting you to seek alternative sources of income. This could be the ideal time for you to start a business.
And the Philippines has a plethora of business opportunities. But why should you think about starting or opening a business?
Money
The primary motivation for starting a business is to make money. If you start a business, you can make as much as you want based on your efforts, which will determine whether your business succeeds or fails.
Unlike when you work for a firm, where your compensation is fixed and promotions are determined by superiors.
Improved Lifestyle
You will have the ability to change your schedule in addition to earning extra money. Following this path will get you out of the corporate world’s ‘8 to 5’ work schedule.
Expression and Passion
You might be one of those people who wants to stay in their current employment and just make a little additional money here and there. Then your own company will be a place for you to express yourself.
Where you may develop your creativity and work on something you care about. Along the journey, you’ll pick up new talents and knowledge.
The top business ideas in the Philippines for 2022
Franchising
If you’re seeking a flexible business opportunity in the Philippines, franchising may be the way to go. Food isn’t the only company that may be franchised. It can cover a wide range of things, including fast food, pharmacy, spas, salons, and just about anything else.
If you really want to establish a business, you should look into franchising. Not only will you be able to choose the type of business you want to start, but the franchisors will also offer you with the marketing help and branding you require, which is especially important if you are new to business.
The cost of creating a franchise can range from minimal to costly, depending on the brand you choose. Choosing a franchise will provide you with numerous advantages, including a lesser risk of failure because you will be funding an established firm that has previously been tested in the market.
The Restaurant Industry
Food is something that everyone enjoys. However, opening your own restaurant may not be as straightforward as you believe.
It will necessitate a great deal of thought into the kind of foods that appeal to clients in a certain area, as well as having a huge impact on the quality of your items, because people will buy value rather than products.
Taking on this task will ensure you have a fantastic adventure. You will never be bored; you will be constantly learning and making significant growth as a person. You can either open your own restaurant or franchise a well-known brand.
Food Cart
When Filipinos are out having fun in the malls or anywhere else, they love to stop by for a snack. As a result, franchising a food cart business is a terrific method to take advantage of this.
This form of business necessitates study on which brands appeal to your target clientele in specific places. It’s also a good idea to set up your food cart in areas where there are a lot of people all of the time, such as malls. It’s also advantageous because you don’t have to pay for a large number of staff; you only need to recruit one.
Coffee or Milk Tea Shops
For students and professionals alike, coffee and milk tea stores have become popular gathering spots. It’s where students go to revise their studies or meet up with their pals while sipping a pleasant blend of coffee or milk tea.
You might take advantage of your popularity to appeal to the public and turn your business into a prosperous venture. You can build a different and creative twist for your store to attract a large number of customers.
Alternatively, give a relaxing hangout spot for coffee and milk tea fans.
Water Refilling Station
Water replenishment stations are another business idea in the Philippines. Water is necessary for our survival.
Unfortunately, not all Filipino households have easy access to safe and clean water. Some people may have to drive a long distance to acquire water, or they may have to drink tap water.
As an entrepreneur, you can meet this demand by assessing areas where potable water is scarce and either starting your own firm or franchising an existing brand.
Online Business
Alternatively, you might take a more modern approach by moving your retail operation online. The brick-and-mortar retail industry has been affected by online firms.
People can avoid the inconvenience of going to malls and exhausting their legs while looking for items they wish to buy by doing business online. They can sit comfortably on their bed and obtain the stuff they want with just a tap. You can sell your things online through your own website or through third-party online shopping platforms.
Rental Properties
Perhaps you have a vacant lot or a brand-new house that you could turn into a rental property. It might be close to a university where students can rent rooms for convenience and easy transportation.
This may be near a beach or in the mountains, which would be ideal for those looking for a relaxed vacation.
Considering that this company will provide you with its advantages, and, more importantly, you will not have to keep a close eye on it directly. You can hire a nanny, and payments can even be made online.
Blogging
Blogging is another way to communicate with people without having to meet them face to face. Blogging was created with the goal of sharing personal experiences.
However, the goal of blogging has shifted from personal to professional. This is currently utilized not only to communicate personal experiences, but also to advertise a brand and business.
Advertisements, sponsored posts, and other methods of monetization are available through blogging. And, if you’ve already established your targeted business enterprise, blogging is one of the techniques to increase your visibility.
Travel Agency
Because the Philippines has incredible tourist attractions like beaches, mountains, and waterfalls, you can open a travel agency to promote tourism in the country and assist visitors looking for a wonderful area to spend their holiday. You can provide services such as ticket booking, contacting several resorts for accommodations, transportation services, and so on.
Language Tutorial Services
OFWs have the advantage of learning and being exposed to different languages because they travel to other nations. You can share your expertise and experience with other Filipinos who wish to learn other languages, as well as provide some recommendations.
You can also provide Filipino language tutorials to people from other countries who want to learn or improve their Filipino.
Salons
There has been an ever-increasing trend in beauty and hairstyles, particularly among young women. Women frequently go to salons to feel more confident and empowered, or because they desire a particular style for themselves based on their beliefs.
You can include nail services, haircuts, hair color, eyelash extensions, and other services on your service menu. Hairstyles come and go, but the salon business is always in demand.
Massage and Spa
With the fast-paced and busy lives that people have been leading, it’s no surprise that they would seek out spa and massage treatments to pamper and unwind. You can choose from a wide range of spa and massage services to distinguish yourself from the competition.
This might be a great business for you if you hire the correct individuals to manage and serve your consumers.
Services for Laundry
People are busier than ever before, whether at work or in their social lives. There is an increasing number of households in which both parents work and who do not have enough time at home to do household duties, or who, if they have, would prefer to rest rather than do something else. As a result, the laundry is left unattended.
You may take advantage of this to start offering laundry services to people who don’t have enough time to do their laundry. You will instead do it for them. You can hire a group of people to run your laundry business for you.
With the advent of do-it-yourself laundry shops, some laundry firms have only one employee to monitor the operation.
This might be a great business for you if you hire the correct individuals to manage and serve your consumers.
Cleaning Services
Cleaning services, in conjunction with the preceding point, could be a good business idea for you, as family members may be too preoccupied with other things to clean. You can also combine cleaning and laundry services to expand your business’s potential.
The Retail Industry
A retail business is a common business idea to pursue. Because OFWs have access to imported goods from other countries, their set-up retail outlet may stand out. This would also appeal to a wide range of clients, resulting in a substantial revenue stream.
Real Estate Investing
Real estate is probably one of the most valuable possessions that would not be marked down.
Land and other real estate properties such as houses and lots or condominiums have been rapidly increasing in value, therefore investing in real estate would be rewarding. Investing in real estate is one of the finest ways to make the most out of your money.
Transportation Business
In the Philippines, public transit appears to be in short supply. We can’t rest after a long day at work because of severe traffic, crowded trips, and other factors.
Due to strong demand, especially in congested cities, jeepney, taxi, and bus franchises are expanding.
Everyone prefers a pleasant trip to their destination on vacation rather than riding in a crowded bus. Both domestic and international tourists are taking advantage of van and automobile rentals.
Whether you wish to rent a jeepney, a cab, or a car or a van, banks are willing to assist you in obtaining a loan. Your business will be wonderful as long as you obey all of the rules and regulations that apply to your chosen business venture.
Resorts and Hotels
When it comes to vacations, a hotel or resort is a reasonable option. The Philippines is one of the most popular tourist destinations in the world.
You may turn your empty beach property into a hotel or resort with a variety of services for your visitors.
Although the number of visitors varies by season, you may compensate for poor seasons by offering flexible promotions to your guests.
Life Coach
Why not turn a hobby into a business if you enjoy giving people motivational advice?
Most people would appreciate some assistance with their daily problems or a mild, supportive push toward their objectives and self-discoveries. It’s your responsibility to gather folks who enjoy giving advice and keep them oriented and on track toward their goals.
Clients will be counseled and encouraged by these groups of people you manage, from professional to personal uses. Also, to offer them strategies for dealing with life’s challenges, as well as to keep them informed about which and where they should spend their attention and goals.
Conclusion
You are not limited to one employment as an OFW. There are a plethora of options available to assist you earn some additional cash, particularly in the business world.
And we’ve presented you with several company concepts to consider. However, knowing your clientele and providing them with what they want with high-quality products and services is essential when establishing a business.
