Profitable Small Business Ideas to Try Out

Paulo Abad

Business

Dec 04, 2019

If working a nine-to-five job isn’t something you want to do for the rest of your life, one of the best ways to escape it is by starting your own business. But just in case you don’t know what kind of business to establish, below are a few ideas you might like.

Vending Machine

If you want a business that needs minimal supervision, then vending machines are perfect for you. With an investment of Php 10,000 to Php 20,000, you can get a unit and earn as much as Php 1,000 to Php 20,000 per month (provided you place your machine in strategic locations like schools, malls, etc.). The only thing you need to worry about is its regular maintenance and logistics.

Street Food

But if you want to try a more classic business, go for a street food stand. With just a capital of Php 5,000 to Php 10,000, you can get yours cooking right away. Filipinos love their street foods, particularly kikiam fish balls, squid balls, and kwek-kwek, among others. You won’t have a problem finding customers, especially if you place your stand in a densely-crowded area. And like vending machines, they require little to no maintenance.

Junk Shop

You can also try starting your own junk shop. Junk shops earn profit by buying and selling scraps like plastics, papers, and metals. Aside from buying these junks from scavengers, you can also make contracts with other existing local businesses so they sell their recyclables to you. You can then sell the scraps you’ve bought to recycling agents for a hefty price. The only thing you need to worry about junks shops is that they need medium-level maintenance, as well as a capitalization of at least Php 100,000.00.

Water Refilling Station Business

Lastly, you can start a water refilling station. Demand for clean and safe drinking water will never run dry, so you won’t have a problem getting customers. In fact, with so many FIlipnos opting to live in condominiums and more high-end areas, you can simply place your water business in their vicinity. That way, you can snag an entire floor or neighborhood of customers.

The Takeaway

With the Philippines currently experiencing an economic boom, now’s the best time to start a business here. So best seize the opportunity while it lasts and invest your money in a good small business like the ones listed above.