What's the best small business to start for beginner?

Hurry14 Level 1

September 6, 2017, 11:05 am

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I'm from the Philippines and I really want to start any small business that is almost guaranteed to make profit from the start. I'm thinking of things like starting a food business because in the Philippines Everyone loves to eat. But I'm always reluctant because of maybe my product will no be sold or have high sales. I have no experience in any businesses so I'm really resistant to take big risk. So if there's any businesses that you can recommend me that has high success rate, maybe you can share your idea or thoughts about it. What

What

Thanks in advance.

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Nikko25

Nikko25

In choosing, you should consider the things that you can do and the resources you have available and can utilize. Even if it is a short time gig, you also need to determine if it is something you can sustain even if does not work out at first. For many starting businesses out there, profit does not come immediately. Somewhere along the way, some losses will be inevitable so you have to mentally prepare for that.

9 years ago

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Baburra

Baburra

I agree with you completely and I think you brought up some great points. One thing not enough people think about when starting a business is how they plan to weather the storm once they find out they won't likely be profiting during the initial stages. I think most just get into it without thinking about these things at all, and understandably so, since there is so much to think about and get done at the start, but having the foresight to do these calculations and having some backup plans ready can be very helpful in relieving a lot of the stress of uncertainty that could come with building a startup.

9 years ago

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dzannerz

dzannerz

Very well said because starting a business wheather its small or big it will always be putting your investment into risk. Building a business is like a private joke because you have to consider many things and it will not always be like immediate success but if your determination are high and you have goals, success is alwaya on the way.

9 years ago

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chrisbarett

chrisbarett

My brother and I enjoy spending time together playing at the online casino australia no deposit bonus. You know, it's quite interesting for us, because that's where we learned to play casino games. By the way, there are people who share their experience, and this improves our skills in the game, so you can learn to play if you are new to the casino industry. Moreover, when we started playing, we got a bonus, and we are thinking about opening new accounts to get more profit ;) are you with us? So, as a nice business plan, you can create a poker platform.

6 years ago

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gamergurl

gamergurl

No business can guarantee profit, and think of what's "the best" is a bit wrong way to go about it, because you'll be sacrificing hours after hours and years after years for your business, so you might as well do something that you actually like to do. There are many examples of simple things one could do, but generally those will barely pay any salary, so you might want to think up things you actually like and that could yield great income, and only then proceed with your ideas.

9 years ago

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Baburra

Baburra

I agree with you completely. There is no guaranteed business, even for those who have a lot of experience and have been doing business for years and decades, so this would be especially true for those who are just starting out. It really is much better to just find something you're good at and build a business from that since like you said, you'd be spending so much time on it and if you don't like what you're doing then you might as well have just found a job instead.

9 years ago

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AmieBotella

AmieBotella

Definitely true. No business is a 100% money maker. It all depends on many aspects. If you're going to venture into food business, you need to consider the location, the cook/chef, the menus and your capacity. One must study first the business that they will want to pursue. Or else failure is just at the doorstep of your business.

9 years ago

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Corzhens

Corzhens

You are right that a business is like gambling that you risk your money for the capital. And even if you have made a thorough research and a detailed plan for your marketing and operation still there is no guarantee that you will succeed. But on the brighter side most businesses succeed when they copy the systems and methods of successful businesses. It is like saying why the need to invent the wheel when we can learn from their experience?

8 years ago

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preciseone

preciseone

I believe that you really can't go wrong with a franchise that is already well established. Just be sure to keep in mind that it is all about location. Place your franchise around a community that will benefit from the service that you are providing. If you do this I am sure you will be successful.

9 years ago

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justin223

justin223

I agree with you. place is one of the most important if you want to put up a business. Goodluck to your business!!

9 years ago

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jien0302

jien0302

I agree with you. But if you want to franchise a good brand you will need also more than 200,000 pesos capital.

9 years ago

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Hurry14

Hurry14

Yeah, I also really think that it's the locations of my food business that will determine if it will be successful or not. but whenever I see a good location for my food business. The Rent is just too high for me, also I don't think my sales would be enough to compensate for it. also I don't have enough money to franchise a good brand. I'm only planning to franchise the ones that are only starting up in the food industry for lower expenses.

9 years ago

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ColdFlameChris

ColdFlameChris

I agree with you. you can start like a small stand but make sure that it's on demand on where you put your business. You should survey first on where you want your business and check if what business can you franchise which is lacking in that certain area.

9 years ago

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Carmilina

Carmilina

Agree. You should check on what is good for the business. On the place you are planning to place your small business.

9 years ago

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pandooh

pandooh

This is a great idea. I do agree with you. I have known few people in this kind of business and yet they are still alive within years. You won't be disappointed with a food franchise. But always choose wisely. Never be that person who is excited. Be meticulous to every detail you want to try. Research more. Attend trainings/seminars. There you can see for yourself what you want.

9 years ago

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kayjay77

kayjay77

Hi Preciseone. You are blatantly correct when you make the suggestion that an already well-established franchise would be great stomping grounds for amateurs and beginning entreprenuers who are not only looking to enter into a new business that can make a lot of money and job stability for themselves, yet make a great name in the business world for themselves as well. Going into the hotel business for someone who one day would love to have their own Hilton, Marriott, or IHG (International Hotels Group) type of chain, a person would definitely want to do what the now hotel megashots themselves once have done--start small for a couple of years; then grow enormous. As you also pointed out, location also is everything. Very nice.

9 years ago

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DarthHazard

DarthHazard

Franchises are great but only if you have the funds. It can be expensive to buy the license for the franchise, especially for an extremely famous food brand. And those are not the only costs either. You need to buy the location and you will definitely need a good location if you want to do well. Some franchise brands will also require you to buy supplies and ingredients from them which can bring even more costs. So be careful before you make that decision.

9 years ago

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poingan77

poingan77

I agree with preciseone for franchising from a well known company is a good way to start you own buiness.

9 years ago

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Baburra

Baburra

I have heard that the restaurant business is one of the most difficult types of business to start and run, and they aren't all that profitable for most mid level ones, though that's just something I heard and I'm not really speaking from experience so take that statement with a grain of salt. As for the best one to start, if it was me, I'd go with something that I wouldn't need to invest that much capital at first and as much as possible I might even try to seek out ones that won't require me to put in any money at all. Perhaps selling something digital would be where I would start if it were me making this decision.

9 years ago

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jien0302

jien0302

Hi baburra, i think it will not be difficult if you have experince that related in food business and you have a passion on any food related.

9 years ago

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Baburra

Baburra

You are right. A lot of people say it is one of the most difficult industries, but then again, almost any business will probably turn out to be risky and difficult anyway. If that is where your interest lies then it would be riskier to start a business elsewhere where you are less knowledgeable and passionate. I don't think there is such a business where you are guaranteed a profit from the start and requires very little risk and effort, so might as well just go with something you actually like doing.

9 years ago

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Tronia

Tronia

You mentioned food, so I assume that you also enjoy cooking yourself and have some sort of knowledge in that area? If yes, then perhaps consider opening up a small restaurant or food stand AND connect/expand it into catering. Catering is in really high demand all over the world - you can earn a lot of money if you manage to get booked for parties or important events. I think that it could be a really good business. My friend did the same thing and right now his catering business is booming because he established some good connections.

9 years ago

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kielrivera

kielrivera

Agree with you. Food is the basic necessity of everyone. Everywhere you go, there's a need of food. I recommended catering will be good for starting a business.

9 years ago

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zheh

zheh

It's hard to compete without a name not unless you are lucky or you find the best place and your product fits the budget of the common people and taste delicious. Small business are really not a small business nowadays cause you need to have the capital and backup for atleast three months. Rental rate might swallow your earnings so you just think about this over and over. You should also be emotionally and physically decided to do the business your going to enter. The knowledge and passion is the most important thing.

I am saying this because i'm also from philippines and i've tried a few business but sadly none of it goes well. Most are always break even. I have tried food business, canteen in makati, good place, clean and our price is same as other competitors, our food taste good too. But people still choose to eat in sidewalk canteen( carinderia ). So i think people tend to choose those they are used to. I also tried retailing bags and belt in greenhills shopping center. I even travel abroad to buy better quality. But our income just goes to the rental fee and sales lady's salary. Most of the time it's just break even so i decided to give up.

Well it's just an example. Maybe i have made so many mistakes. Maybe i'm not really for business. So i think you just have to feel it. Think about it over and over on what business would fit you.

9 years ago

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DarthHazard

DarthHazard

Food is always a good niche to go to if the local area is doing well financially. It's probably not a great thing to get into if your area is going through something like a recession because, during these times, people are more reluctant to spend money on takeaways. Because of your lack of experience with businesses, the best thing to do is to go into a partnership with someone who does have experience

9 years ago

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jien0302

jien0302

I guesse you're right. Partneship is best if you dont have more experience in the business that you want to open. The budget will be your share and the skills will be from your partner.

9 years ago

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DarthHazard

DarthHazard

If you're not interested in a partnership then you could come up and start your business but then hire someone to be in charge of the decisions like a manager. That way you still own the business (100%) and will get most of the money that you earn. The only thing the manager will get is a set salary.

9 years ago

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onlineblogger

onlineblogger

Working abroad will not give you a better life. A lot of people think that they can only have a better life if they get a high-paying job. That is not so true. No matter how high your paycheck is, if you don't have the discipline to save money, you will never have a better life. .The problem to most people is that whenever their paycheck increase, so as their lifestyle. You continue doing that and you will stay stuck in the rat race your whole life. If you are earning a minimum wage, you have to live below your means. Spend 70% of what you earn then save the 20% for investment then 10% for helping others. Let's learn how to delay our gratification and we will prosper in the future.

9 years ago

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justin223

justin223

I agree with you. People now a days specially here in the philippines (my country) think that working abroad with high paying salary will make their life better. Yes you have high paying check but you if you didn't spend your money well, well that's nothing at all. Most of the people in my country, if they have relatives in abroad, they feel that they are rich, they just buy and buy anything without thinking of the sacrifices of their relatives abroad.

9 years ago

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Keibah2

Keibah2

The food business is a great idea but you have to look at your locality or the area you intend to start up a business, think about what they prefer and what is lacking in the vicinity in order for you to sell. It could be that they lack good water or clean food. Also you can't open up a big restaurant in an area where people only have money for road side canteens. I think overall you need to do a thorough survey.

9 years ago

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anor0428

anor0428

I agree, having survey is important if you are having a business. You have to think of another option especially if competion on your target business is high. Knowing what people need on that place is a must. The place and the consumers should always be considered and observed before putting the business.

9 years ago

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Barida

Barida

Opening a restaurant is one sure way to try out how successful you can be in the world of business. The truth is that people will continue to eat till they die and as long as we keep having new persons growing up, buying cooked meals won't stop. I suggest that you use a lower price to convince people to patronise your restaurant and also do not forget to employ good cooks that will assist you in making quality meals so that people that flood in to buy from your restaurant will have cause to return another day.

There are people in Nigeria that have made it big through franchise and even expanded to have branches all over Nigeria and as you said that it is a business that can be successful in your country, I think you have to give it a try.

9 years ago

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ballyhara

ballyhara

You have to be aware of the area where you want to begin with your business, so if you are in the middle of a big bunch of famous franchises or restaurants, then it's going to be really hard to compete with them. Maybe a good idea is to start doing some food at home and offer delivery, in the beginning is going to be hard, because you are just starting, but once your product is pretty well known then you will see better results. Don't forget to use social media like Facebook, Instagram, Twitter, to make your business popular, and ask a little help from your friends too.

9 years ago

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justin223

justin223

Maybe small internet cafe. I also came from the Philippines. I see a lot of teenager are love playing games like dota2. So internet cafe is in demand on our country. You can also put up a promo per hour so many customer will attract to avail at your internet cafe. Honestly, I've been always playing dota2 at internet cafe near us. There are a lot of teenager are playing and also my friends. So the owner of the internet cafe has more profit everyday.

9 years ago

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overcast

overcast

Yes due to gaming it always works. Because even to date, people do play the video games online. And most of the clients for such are from these. And so it is a good business model. But it has it's share of the issues too. You can't really fix the issues with the cafe related business, like teens arguing and fighting and stuff. That has to be adjusted in such business.

Another thing is that due to 4G network, these days not many people need cafe usage much. But yes, it's in emergency type of the service. So most of the earning is from the gaming. So one has to learn about that part.

9 years ago

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Blank629

Blank629

If you are confident in your cooking skills, then you can build a small restaurant business. And don't forget your target customers. And for me, this business is suitable near schools. And if your customers likes it, then you can build your own name and make other branches. You should try it.

9 years ago

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lovefoxycharms

lovefoxycharms

Seems like I can find a lot of my fellow countrymen here! I'm from the Philippines as well and I am also looking forward to responses on this thread.

What I can advise is that before you put up a business, make sure to learn about the nature of the business and try knowing your target market first. Where do you plan to put up your own food business? Will it be in your village or in town? What product are you planning to sell? It's also important to create a SWOT Analysis (Strengths, Weaknesses, Opportunites, and Threats). Try to know your assets and capital for the business. These are just a few things that I know you have to learn first before you decide to finally create your business. Whatever it will be, I hope it will be in great success! Good luck!

9 years ago

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spectat0r

spectat0r

Uber or Grab car rental business is a good one. You can apply for a car loan with your preferred bank and hired a reliable driver. The positive side of this business is the timeframe. You can easily get your investment which is the car plus acquire a business in a span of 2-3 years. It's like hitting two birds with one stone.

9 years ago

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justin223

justin223

I also recommend small eatery. You must have a good location to have regular customer and to have good profit on your business.

9 years ago

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vinaya

vinaya

I once had a restaurant and had to shut it down because it was making a loss. After losing money, I learned a lesson. Everyone is making money does not mean you will also make money from the same venture. Restuarant is considered a lucrative business in my town, however, my business did not succeed. Instead of brick and mortar business, I suggest you to do online business. Online business has low start up cost. One of the easiest online businesses is drop shipping business, You don't have to manufacture products, you don't even have to procure products. Investment is literally zero.

9 years ago

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augusta

augusta

The food business is definitely not bad but I think a groceries store would also be okay at least you don't need much capital.In my country with as small as $30-$50, you can start one and grow it into a super store.Look around for what is lacking in your area and start selling it.

9 years ago

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diels1001

diels1001

One of the best area of business today is electronics. You can try to sell the latest gadgets that are really popular nowadays. Starting it doesn't really need much of a capital because you can do a purchase by order system wherein you will only sell a product if someone is already proclaims that he/she will buy that product. In that way, you can have a safer product selling with the minimum risk.

9 years ago

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overcast

overcast

Buying something low in offline market and then selling it for higher price online can be one good business. Though it'd be lot harder to have business success these days. But you can surely earn some good money. You can see that small business takes time to form. And more efforts you take to establish yourself the easier it gets in the end. I think that's one reason you should focus on the simple business to get started. You can invest more into the business as you make money.

9 years ago

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yunken

yunken

I will advice you to go into online marketing marketing, i.e affiliate program if you have constant access to the internet in your area of residence. It requires less energy and yield more profit if you have the knowledge.

9 years ago

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Authord

Authord

Hmm, are you into affiliate marketing? I don't think so. Because that clause "It requires less energy", is more of a myth than reality, when it comes to affiliate marketing. It requires energy and hard work to be successful in online marketing. It's only when you have built up the bridge, that it would require less energy.

9 years ago

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tophew

tophew

My advice is go with food industry food is consumable easy to sell all you need is some delicious recipe and target volume of people low mid high class. also the location is important. my suggestion would be start selling food near schools where in there is a lot of students try to find a place that you can open a small eatery and don't be scared in any business risk is always involve take the risk or miss the chances. it doesn't really matter as long as you learn new things and try to fix what went wrong if the food business is not going good. goodluck.

9 years ago

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tenthztar

tenthztar

I agree to most of the peoples here you should invest in franchising or something related to food, Since everybody needs it. Just bare in mind that your location is the most important part of your business. Students nowadays tends to eat a lot outside rather than eating at home. I would suggest a computer rental business but that is way too common now.

9 years ago

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jien0302

jien0302

Try retail and resell rice. Since rice is basic necessity in Philippines and add some poultry feeds.

9 years ago

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anor0428

anor0428

I am from Philippines too, and yes you are right that Filipino really love to eat so food is a good start for business. Before, we used to sell fresh goods and some groceries. On the first few days of business , we did not meet the profit that we expect, but later on, we even able to add other goods to our store. I guess risking is part of having a business. If you think you cant make it on food business, try selling something that is on trend, something that people are hooked to buy.

9 years ago

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trebor2017

trebor2017

First of all before starting a small business you should think first that the business you are building is related to your interest or profession. I think the most simple business you can have is buy and sell of things like cars, shoes, or even clothes and shoes. If your thinking to be successful in business it is not all about what your business is but your determination of being a successful entrepreneur.

9 years ago

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jaymish

jaymish

I would say start a business doing what you love. I know it's cliché , but it's so true. Remember you will spend most of your time there, so you had better love it. As much as a food business is hard to run, I think if you make good food and distinguish yourself, then you can make money. Also make sure you have systems in place that control wastage and you run a professional outfit. Some of the biggest businesses in the world are food i.e Kentucky Fried Chicken and McDonald's. Offer something unique and your good to go.You can even charge almost any price you want. The minute you become just another restaurant, you're in big trouble.

9 years ago

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manmad

manmad

You gotta learn what the important things of start up a business are, you might not think so, but one of the most important factors are location, you can have the best stuff in the city, but if it takes too long to get to you, you won't get much traffic, while you can sell stuff that aren't as close to good, however if you are in a central location, people would visit. Of course, you gotta focus on having proper stock, because no one would come again if you sell them something that doesn't satisfy their expectations.

9 years ago

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rogiesonb

rogiesonb

Remember that business is difficult so you have to take the risk and in the end, it will be so satisfying when you become successful with what you are doing. Try to do buy and sell first. Some people I know started with selling pre-loved clothes and then after they were able to earn money for a capital they have shifted to selling gadgets and accessories. After some time you can already sell cars or even condominiums afterwards. Anyway registering your business will just be easy.

9 years ago

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SirenOnFire

SirenOnFire

I guess this all really depends on ones skills and knowledge. Business is a gamble yes, but you have to know at least the basics of what you're getting into before risking your hard earned money on anything. One of the things that also should be considered is the number of competitions you have, what would make you better than them that customers would prefer you, and the availability of the products you can sell. Being hesitant and having that fear of failing is a normal thing, but in order to achieve something, you have to push all that feeling down and make that first step in achieving your goal. Plan well, consider your options and then see it through. Observe your surroundings, what services or products that people need which is still available in your place, of people are not satisfied with it. Analyze your results and make plans base on those.

9 years ago

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jomarillana

jomarillana

Hai there

What

. I am also from the Philippines. Well, as what we have usually seen in our country, the best small business that you can try is a sari-sari store. This business is very well ok for a begginer. You don't have to become an expert in this kind of business. You just have to become patient in entertaining your customer when they buy in your store.

9 years ago

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BelindaMT

BelindaMT

Hurry14,
Business is a gamble you have to be strong and confident to take the risk. You should have a desire to do a business and expect losses in the beginning. You said you want to start a food business because Filipinos loves to eat. It's true I agree with you Filipinos are food lovers but to start a food business be sure that you have a specialty that no one have to assure the success of it even if you start in a small capital as long as you have a specialty or you have your own signature food I can guarantee you that you are close to success.

Let me give you an example. The Madge Cafe located inside the market of Lapaz Iloilo City Philippines owned by Madge ofcourse started her business 70 years ago. They only served coffee and a few kind of bread and nothing else just hot or cold coffee and bread. The Madge cafe is very successful up to now even well known personalities visit Madge Cafe. It is carenderia-style in appearance and their coffee is made from homegrown coffee beans. They don't use coffee maker it's traditional step by step extracting coffee beans manually. Do you know why her coffee shop is so successful? because of the coffee that she served is really unique and delicious compare to other coffee shop in Iloilo. And its only P30.00 in Philippine Peso or less than $1 dollar. She started in a very small capital and that is her only business up to now, her coffee is famous that's her signature so what yours?

If you are really determined to have your own business then go for it and have passion doing it. Discover your talent in business who knows you might be the next entrepreneur to watch for.

9 years ago

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galegatling

galegatling

Well, unless you are a very talented individual with a lot of connections and customers beforehand, you will surely have high sales. But on most cases when someone starts to have a business, specially if it's a small one, you should not expect to see high sales during your first day or during the first week. There are always factors to consider on to get high sales, as usual. You should see to it that your small business meets the demand of your local vicinity and your target consumers. ^_^

9 years ago

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vicsylicious

vicsylicious

For my 6 years here in the Philippines, I have observed the young folks working their six-month contracts in malls. I can not understand why more folks do not venture into the world of entrepreneurship. True, most of us who were not born with a silver spoon in our mouths need those first few low paying jobs to build up funds. Sadly, I so often see the same low paid workers waste what little they have on one night of relaxing, not saving to build a better future. By the way, I must say "on-line business" and work opportunities are hot and will be for a very long time. I think the Philippines is woefully deficient in internet service and way overpriced for what you receive. I hope and pray for more competition in internet services so that all the Filipino people may benefit.

9 years ago

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Pixie06

Pixie06

Opening a restaurant is quite costly. I don't know how popular street foods are in the Philippines but in my country people relish on them. You won't need a big capital to start this business and it is also not costly to operate. Make sure that you sell foods which the majority of people appreciate. Since your costs will be low, you can charge a lower price to your customers. If you can prepare some delicious foods and sell them at low prices then you will definitely get lots of customers.

9 years ago

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sarsino

sarsino

Investing on small or big business comes with a risk. For a starter, franchising might be a good choice. Its already a established business and most of franchise are already affordable. If you look online there are franchise that are below 15,000 pesos(Philippine Currency). That's a small capital that includes product name, training, supplies. Hope this may help you.

9 years ago

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jeiyyy

jeiyyy

For beginner buy and sell is a good choice but yeah! franchising is still better, you cant never go wrong with food especially in the Philippines. Filipino like's well love to eat rather.
Good luck What

What

9 years ago

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Authord

Authord

For a beginner, it actually depends on you, look around your vicinity and find put what people did, that you can scratch out the capital,without much stress, then you can start with that. If it is cooking and distributing to workers in firms and companies within your reach, and many other things you can start with.
But if want to work online, then for a beginner, i would recommend drop shipping.

9 years ago

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jemuelterrado

jemuelterrado

i agree with you friend it depends in your location about people's possible demands in their lives. I think there are some ways to start business without spending too much money for capital.

9 years ago

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Cromate

Cromate

As a student looking for some income to support my study needs, I'm also thinking of doing some small business but the consequence is it will consume my time. We've been doing thesis study so I don't have the time to do small business. So now I'm just looking for online jobs that's less time consuming.

9 years ago

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PedroP

PedroP

Yes, it's a good way out with online jobs. The only problem is that they take a bit to generate revenue and that might kill your business if you don't have the funds to maintain it

9 years ago

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mildredtabitha

mildredtabitha

I am also with the same opinion. I can start my own business but not now because my time is already taken up by many things. There is no business that is meant to fail. Identifying a market gap will be better because you will be guaranteed that customers will be available and there won't be a competitor to stress you. I also prefer online jobs for now but I can't claim that they are less time consuming. Every job with it's needs.

9 years ago

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BillShiphr

BillShiphr

I have an experience of opening my own clothes shop and I want to say that it is not so hard as it looks

6 years ago

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