Food is a good business if you agree. Do you? Of course you do! Filipinos are eaters from exotic to Japanese cuisine and more. Pinoys are meat lovers and I know someone who eats a kinilaw na baka or atay (pork liver). All businesses are good if one would know how to sell the need. That is the main purpose of retailing something to the public. We can never predict the success of the investment if it will be an instant boom in the market unless you start and try. That is why many investors always preview everything before the start of the real operation.
Small food entrepreneurs includes siomai, stir fried noodles, siopao, fishball and more. They too have good profits but for a dreamer, this is not sufficient to fulfill the needs and wants in life. Jollibee, KFC, McDonalds, Max Restaurant, Mang Inasal are the most famous resto in the Philippines and they really survive for many many years. Franchising it can cost a lot of money and the return of investment may get a little longer. Tax can be higher too if you may ask.
Some of the few delicacies around the corner is the lechon manok. It is popular and everybody likes it. Why not study the business strategy of lechon ey? Andoks, Baliwag, Aling Lydias are among the pioneer in this venture and the real secret is hard work. Chicken is always a need in the dining tables and it surely can make someone's pocket full of profits. The peak of the sales in lechon selling is 4pm onwards. This is where people from work and in universities go home tired and just want to take away some food to relax and raise their weary legs. They find it sulit because it can feed 3 to 5 hungry people with a fraction of a cost.
Sweet spots for putting up a business
Location is crucial. Do not set up a store in a ghost town. Do not sell pork in a muslim community. The factors are endless really and this person must be wise to see those things before construction and will just turn out to be an excess baggage that sooner will be sold or bankrupt. Best spots are populated area where people really "need to passby" and buy need for their homes and family. This is places are certainly the spots that you are looking for if you want to put a new business.
Some tips when choosing a business to put up
Filipinos are eaters like everyone and targeting the basic needs is one of the great ideas out there. For example: chicken is an everyday need. Bread is also a need everyday every breakfast, lunch or dinner. There are lots of ideas that can be applicable to one's area and only you can know them by heart. Be observant as this can help you win in trying investments in the future.