Top 5 Business Ideas in the Philippines Amid Pandemic

With the status of the economy amid the pandemic, creating multiple streams of income becomes urgent to cushion our financial losses. Whether you take the fund from your accounts or apply for a business loan, there must be caution in choosing how to generate profit, especially that consumer behavior has shifted in response to the current situation.

Rooted in our basic needs, here are the best business ideas in the Philippines you can venture on:

1. Online Selling or Dropshipping

Starting capital: P5,000 to 50,000

With the community quarantine and lockdown, buying necessities and luxuries become a challenge. It has to be scheduled and in bulk. Online selling is deemed as a solution to this inconvenience.

Your products can be homemade pastries, delicacies, pre-loved items, or handcrafts. Lazada and Shopee are two huge platforms in e-commerce, where you can sell products on a larger scale. You can also create an online selling website – that is if you already have a brand. But for those who are starting yet, you can utilize social media networks like Facebook and Instagram to earn money.

However, if you don’t have products of your brand to sell, you can still set up an online store and earn by dropshipping or reselling products from your suppliers.

2. Staffed or Self-service Laundry Shop

Starting capital: P100,000 to P3 Million

In highly urbanized cities like Metro Manila, laundry shops prove to be a stable business. The washing service is essential with the rising number of transients, condominium residents, and their hectic schedules.

The laundry services include laundromats (a self-service front-loading washers), washing accomplished by staff, folding, and dry cleaning. It is important to choose the best location for the shop, which is strategically placed in an area where there is a high volume of potential customers. It’s also ideal to open 24/7 laundry shops to cater to professionals working for different time zones.

3. Water Refilling Stations and Delivery Services

Starting Capital: P200,000 to P500,000

Water is a basic need and so its demand remains steady. Like the laundry shop business, water refilling stations should also have a good location in a residential area or commercial establishments to improve the profit generation. However, expect that a prime location entails higher capitalization, though it is possible to get the return of investment within a year with good marketing strategies and client rapport.

 

4. Co-working Space for Freelancers

Starting capital: P300,000 to 700,000

Under the new normal, employees have shifted to a work-from-home setup while others continued working as freelancers online. The demand for high-speed internet never declines as professionals and students transition to the digital workplace and remote learning.

This is a perfect opportunity for you to run a co-working space business that will serve the increasing number of digital nomads. You have to provide them fast internet connection in a conducive place to work and study in that they may call it their go-to office. Since the world has gone into the digital era, it’s no surprise co-working companies will boom more in the future.

5. Logistics and Transport Services

Starting capital: P500,000 to P1 Million

Another relevant and essential business idea is providing logistics and transport services. Even before the pandemic, it is already recognized as a convenient, time-saving service for hauling, transferring, and delivering a bulk of products, produce, equipment, or anything that can’t be carried by hand. These are mostly availed by companies of organizations.

Now, its use has expanded due to the varying travel protocols being implemented. People can rent out these trucks and utility vans in moving from one house to another or deliver products sold to stores and customers without going through laborious processes. Also, as part of supply chain management, logistics should have the most competitive speed and accuracy to grow as a business.

So, which business idea will work for you?