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Let’s say you’ve done months of market research, you’ve finally found a terrific business idea that you’d like to start in the Philippines, and you’ve done the math of how much funding you’ll need. But to your dismay, you realized that you couldn’t afford the startup costs.
So, what now? Will you just let your bomb idea and dreams get shattered? Of course not! Because in this article, we’ll show you how to start a business in case you have limited funds as well as explore the best business ideas with a minimum of 50K Capital in the Philippines
5 Best Business Ideas with a Minimum of 50K Capital in the Philippines
If you’re feeling all pumped up about starting a business this year, here are some great business ideas that can potentially bring in massive sales with an initial capital of Php 50k.
Piso Wifi Business
If you have Php 50K capital and have limited choices in business ventures because of many commitments, a Piso Wifi business is one viable option. The Piso vending machine itself can cost from a range of Php 8,000 to Php 35,000 depending on the model and installations. You’ll also need a secured wifi connection and a great location with a lot of foot traffic.
Since having your own internet connection can add up to thousands, some households in the Philippines are only able to shell out small amounts just to get instant wifi access. With a Piso Wifi vending machine, you can provide internet access to the masses while earning a decent income, without constant monitoring of the machine itself.
School Lunch Business
If you think preparing sumptuous school meals for your child won’t bring you any money, then think again. If you notice your co-parents lack the time to prepare healthy baons and are always running out of meal options then perhaps a school lunch business is something you can start. Think about hitting two birds with one stone: you get to cook for your child while earning profit from parents who want you to serve meals for their kids too.
The rationale? Parents are meticulous with what their children eat and due to the many personal commitments they are handling, they may be willing to order and pay for your school lunch service especially when you serve freshly cooked meals.
Your Php 50k capital can go towards huge pots, pans, and service equipment that you need (in case you haven’t had one yet) and also the ingredients you’ll need once you start whipping up those delicious meals of yours. Having amazing networking power is also a plus factor!
Frozen Food Business
Filipinos love food! Go to any mall or public place and you’ll always see a food business stalled somewhere and so, a frozen food business is one great option in case you have Php 50k capital to spare. Some frozen foods cooked along the streets that are always on the lookout of hungry wanderers are hotdogs, siomai, french fries, takoyaki, and so much more.
If you like to test the waters, Php 5,000 to Php 10,000 budget is good enough to sell frozen food items. You can store these in your personal fridge and you may also set up a social media marketplace to sell your items.
If you think setting up a brick-and-mortar store is more feasible when starting a frozen food business then you will need an even bigger starting budget above the 50k-mark.
Other payables needed when setting up a frozen food shop in the Philippines are the fees and licenses, securing a location, and equipment such as a bigger freezer, weighing scales, generators, etc.
Photo by Eduardo Soares on Unsplash
Sticker Business
One of the best business ideas with a minimum of 50K capital in the Philippines is a sticker business. “Sticker collecting” has become a popular hobby for collectors (irrespective of their age). In addition, big businesses use stickers as a marketing tool to increase brand awareness. As long as you have the right market and advertising, you can get a loyal stream of clients and even high-ticket sales.
The start-up costs for a sticker business would be Php 30,000 to Php 40,000 or more, that is, including the cost of a printer that is more or less Php12,000. This will also cover sticker papers and cutting machines.
Photo taken from unsplash.com
Takoyaki Business
One of the most sought-after Japanese food in the Philippines’ food industry is takoyaki. These are the round, battered balls that have an explosion of different flavors once you try them out. Because of its exquisite taste and its versatility as a merienda or a side dish for a meal, it is now an up-and-coming business in the country.
If your initial market investigation suggests that a home stall is profitable then the smallest start-up cost you may need is around Php 15,000 for the basic equipment and ingredients. Of course, this amount may need to be stretched if your Takoyaki business will expand to a physical store or once you partner up with an existing franchise. Other payables you need to look out for are securing business permits, renting out a spot, and replenishing your stocks.
Read also: Why Do SMEs Need Business Loans Philippines
Need extra funds?
Starting a business can feel overwhelming because, in most industries, significant starting capital is needed so you can begin operations. New business owners may find this a barrier but thankfully, there are financing options available thus giving these aspirants a chance to fund their dream business.
RFC, one of the country’s pioneers in the lending industry, offers a wide array of loans with flexible payment schemes and low-interest rates. Some of these are SME Business Loans, Franchising loans, Business Expansion loans, and so much more.
If you think you’re ready to get your feet wet in the business world and you need a partner to back up your startup costs, you can start by filling out an RFC application through this link.
