There are many ways to ensure that you and your family are financially secure. Aside from saving and buying things that are necessary, one of the things you can do is to put up your own business.
“Wala akong pang-capital,” you might say. That’s fine. There are businesses you can try with little capital. In case you are willing to take a risk and there is extra cash, here are business ideas you can try for additional income:
Water Refilling Station
Who doesn’t drink water? Clean water is essential in every Filipino household, so if there is none in your area, then why not put up your own one?
Look for various suppliers for water refilling equipment and then compare prices. If you want to make it easier, consider franchising a water refilling station. Make sure to inspect how the purification process is done to ensure that the water is clean. One customer brought to the hospital for possible poisoning could negatively affect your business.
Required Capital: Starts at P80,000 to P500,000
Food Cart or Kiosk
Aside from water, everyone loves to eat. This is a good opportunity for you to capitalize on by offering food to people at an affordable price.
The good thing about food carts is that it is easy to operate and with minimal manpower. Place the food cart in areas where there is high foot traffic such as LRT station, market, grocery, mall, or even outside the school. You can even put up your own food cart and who knows, you could open up your own franchise to other people.
Required Capital: Starts at P20,000 to P500,000, depending on the franchise
Carwash
Surprisingly, people are willing to pay for someone to clean their cars. Why not try it too?
The good thing about carwash is that you don’t need fancy equipment to make it work. All you need are people who will make sure that they will get the job done properly so that people keeps coming back for your service.
You can also sell car items such as cleaning materials, wax, or car soap. Check for these items in the country where you’re working and sell it in the Philippines.
Required Capital: Starts at P20,000
Rental
Do you have an unused property? Why not utilize that property and turn it into something that could generate income?
You might be spending a big chunk of your savings for the construction, say one- or two-storey building. Make sure to advertise the property during construction period so that people will know that there is a new commercial area in town that is available for leasing.
If you think that construction is still out of your budget, you can use spare room in your home and look for boarders. There is a security risk here since you are allowing people to enter your home, so make sure to scrutinize closely every possible boarder.
Required Capital: Minimum of P100,000 for construction of property
We understand that not all OFWs have sufficient capital to start their own business. This is why Balikbayad is here to help to make your entrepreneurial dreams come true.
Applying is easy. Simply fill out an online application form for pre-approval, submit the documents needed (don’t worry, the requirements are reasonable and easy to comply), wait for approval, and you can get your cash in no time.
Thank you for sharing this! I can suggest to my dad, he is an OFW so that we can have a business, I’m planning to have a water business. I think the profit here is good.