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Tip of the Day: "Do not pay more than what you get." "Invest and multiply your financial gain." "You aren't forever young." "Love alone won't keep us alive." 
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Many Filipinos are taking chances to work abroad for its competitive pay. They are truly hard working mothers and fathers of the family risking it all to have a brighter future in the Philippines. Some of them have double jobs abroad in order to sustain the needs and expenses of their loved ones in the land where they originated. Not every OFW are successful when they retire from working overseas. It will depend on how they handle the money on hand and problem occurs when they buy more liabilities than assets. This newsletter was made to give valuable ideas for OFWs that are seeking for business and investments. It does not matter what country an Overseas Filipino Worker is. Business is "ideas" to earn out of something or out of nothing.
An entrepreneur does not need to be a college graduate or one that wears expensive clothes sipping coffee at Starbucks. "Idea is money" and that is what a business opportunity is all about. The most profitable and long running offices in the Philippines are the ones that sell basic commodities. These are food, clothing lines and shelter. Just about what Abraham Maslow's hierarchy of needs states. Investing for popular or seasonal businesses is not always successful. A capitalist must be wise enough to compute the inputs and outputs of their cash. There is no such thing as 100% no risk in a business. But make sure to have a Plan A and a Plan B before testing the new career that you want to pursue. For instance in food ventures, lechon manok is one of the oldest pick of the masses and there is a high probability for a sellout since it is a common need and Filipinos love this delicacy. Dairy ice cream like Magnolia and Selecta are also the longest running business of ice cream in Pinas. The key to creating an office is the strategic location and mass marketing. Everyone buys everyday and if a product was loved at the customer's first try, a repetition of purchase will be made which makes them a patron of that particular retailing business. A thing to remember when an OFW or anyone that had save enough capital for investing, is try to research about what kind of business are you diving into. Observe other outlets of stores that have the same concept of what you have in mind. Be a critic so that you can see the positive and the negative side. Aside from the witty spot were the selling happens, studying your audiences is also a must. Make some time to attentively watch what kind of people are there in that place. The main purpose of this is to analyze if these people can afford to buy your products or will they like what you offer in that area. Some professionals even look at the barangay list of population in the area and research about what kind of job these people has or if they have some businesses too. Be careful when buying and that should be an automatic response since we know how hard it is to acquire money. Saving is good but it won't multiply unless you take a risk for a franchise business or an apartment investment perhaps. Apartments are also a great preview for future passive income. These building are mostly situated along universities or tourist spots for borders and short stay vacation. Whatever it is that is in your head be accurate enough to know the details before paying the price. Try to see the potential of the new career even if it is not set up. Remember that preparation is the most important factor of building an asset. Providing basic necessities is the best business of all time. The 10 Countries an Overseas Filipino Workers want according to Philippine Overseas Employment Administration (POEA) :
Many business seekers tend to be curious about acquiring profit even on rainy season. Everyone wants a good and continuous revenue but businesses really have there ups and downs. Multiple investments must be applied if possible and saving budget for the times of low sales. Always gather data since this is the key to adjusting in the market scenario. Observing the monthly sales and buyers may help an entrepreneur innovate and prevent future problems. The quality of location is important to have more sales. During rainy seasons, malls and other enclosed establishments still has the audience that wants to wander around and enjoy spending their cash to ease boredom.
Food retailers still gets good income during rainy days but not places where flood is high. Raining is really not the distraction but stagnant waters. People likes hot beverages, hot soup or stews when its cold and bulalo retailers in carenderias or other small public counter-top stores are a big hit. Coffee shops like Starbucks, Figaro and other related also gathers alot of customers even if its raining. The ability to market a product is all in the management's keen views on how to attract customers. Buyers like you and me wants convenience, quality and affordability of the products. Solving the crowd's problem and making it things easier for them can make more revenue. The store experience is also valuable if they felt that your service or product is somehow unique. Lechon sellers of manok, liempo seems to be soaring high in some cities of Manila where flood is absent. Most buyers are temporary residents, tired workers and students from different universities. The take out foods are brilliant ideas to provide needs for the non cookers and employees that does not have the time to prepare their own meals. Seasonal small businesses also emerge during this weather change and the opportunistic sellers sells umbrellas, raincoats and bike rides if there is a flood in some areas or private subdivisions. Noodle soups and dim-sum also provides well for hungry cold consumers. Delivery services can have a positive advantages for companies for any season especially for massage service or meal take away. Coffee vending machine in hospitals and other buildings with stranded people is also a plus for some profit. Using your brain is the only way to earn everywhere. Take the chance to understand the new things outside your comfort zone. Gasoline station is definitely a no season profit generator but it needs a higher capital to invest. Constant market change is on going and one must prepare and save a back up capital to possibly plan another source of income. The secret to any business goals is to maintain discipline is buying things. The wants can really be tempting and you know these things are sometimes irresistible. Gadgets and new techie product releases can destroy your savings if you give in easily with the wants or liabilities. More concerns should be dedicated to improving your assets because it will save many generations of your future families. To recap, food retailing like lechon manok, siomai, hot beverages can give extra cash even when its raining. But remember that the strategic location is the main key to getting more patrons of your brand or your franchise business in the Philippines. OFWs, new blood entrepreneurs and professional businessmen might what to preview these strategies. |
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Lembest Lechonlembest lechon is the pioneer in lechon manok and liempo sisig in luzon since 2009. See channel 2 ANC business interview here Archives
March 2017
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