Having a job doesn’t guarantee that your income can sustain your daily living. Thus, you may consider finding ways to earn exponential income and this can be possible by starting your own business. It doesn’t necessarily mean big business because you can start a small business.

The good news is that you can start the ball rolling through these small business ideas that are feasible in the Philippines including the following:

1. Selling clothes online

The social media particularly Facebook and Instagram are good vehicle to start a business such as selling clothes line. This business idea can give you more profits as you can buy second hand or pre-loved clothes and sell it online.

2. Couple shirts

Again, the social media can help you sell couple shirts. All you have to do is to choose cheesy prints, or unique options and funny ones that will suit to your customers’ preference. You can also offer personalized prints.

3. Imported goods

Most Filipinos believed that imported goods are “better” than the local ones. You can use this notion in starting a small business. If you have a family member or a friend working abroad, you can ask them to buy imported goods. You can also buy authentic imported goods online and sell them.

4. Cakes and pastries

If you have skills in baking sweet treats, you can use it to start a small business. Cakes and pastries are essentials in every party and other events. All you have to do is to make awesome creations so that it will be easier to find clients and market your business.

5. Food business

Food is a necessity for everyday living and starting a food business can generate exponential income. In fact, many successful entrepreneurs started with small food business and now they own well-known food catering businesses in the Philippines. If you have enough funds, you can consider a franchise food business.

Read also: How to Start a PisoNet Business

Those business ideas do not guarantee success unless you have the passion. That’s why it’s important to start a business that you’re passionate about and which you know will impact to other people’s lives.

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To help those people who want to be physically fit, starting a small gym or fitness center is a smart idea. Just like starting any other business, it requires thorough plan before diving in this business industry.

Here are some tips that will help in starting a fitness center business.

1. Research local competition

This is one of the important phase when planning to start such business. You should do homework about the local competition including Pilates and yoga studios, chain gyms, and other fitness facilities.

Study about the class schedules, services provided, operating hours, equipment, amenities, fitness programs, and rates.

2. Identify the amenities to offer

It is necessary to include in the plan about the amenities that you will offer in the fitness gym. These include weight training equipment, benches, free weights, lockers, showers, cardio equipment, fruit bar, cycling room, aerobics room, daycare area, stretching area, and offices.

3. Look for strategic business location

A part of the profitability of your fitness gym business depends on the location. This means that you should look for business location that is accessible and has heavy foot-traffic. As much as possible, the location must have ample space for potential expansion or a space that you can use for boot camp.

4. Create a business plan

Every business requires creating a business plan that include the starting capital, operating costs, equipment costs, enrollment costs, staffing and instructor requirements, and marketing approaches.

Keep in mind that 50% of your starting capital will be used for buying equipment. The other half of the capital will be used for the construction expenses, securing business permits and other administrative costs as well as the operating expenses.

5. Fitness equipment

Identify the basic gym equipment such as stationary bike, treadmill, weights and dumbbells, resistance machines, pull-up bars, functional exercise equipment, medicine balls, bench, and squat rack.

Prior of purchasing equipment, you should define first your target market so that you’ll know which one to buy first. Always consider the built and quality of the equipment over the price. Buying a cheaper, yet low quality equipment would cost you more in the long run.

A fitness center business may not be a popular venture, but when started and run properly it would be a profitable business.

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Establishing a tutorial business in the Philippines is a profitable venture to start. You can start tutoring kids by visiting their homes or tutor them in your home instead.

Here are some pointers that will help you decide to start a tutoring business:

• Plan

Just like any other business ventures, the first thing to do is to create a plan including your budget. You should expect that you’ll not be able to receive immediate income. With this you should set aside some amount to spend while waiting for students to come.

• Set goals

Before you decide to venture in any business, it is a must to set your goals. Make sure to set goals that are easy to achieve ad easy to handle to avoid frustration. You should also set both short and long term goals.

• Keep your standard high

As you aim for a tutorial business, it is important to maintain high standard of teaching and other services. To be on the edge with your competitors, make sure to set a standard that will meet the needs of your clients.

• Advertise

As you start your tutoring business, you need to advertise so that it will be recognized. You can advertise your business by giving calling cards, leaflets, and flyers. You can even display a streamer in front of your business location so that people can see it.

• Register your business

To make your business legal, you should register your business to the authorized agency. Start securing permit in your barangay. Next is to secure permit from the DTI.

Once you establish your business, you should determine whether you can tutor students one on one or in group. One on one tutorial may be applicable if the student needs special attention to cope up with the lessons.

Unlike regular schooling, the schedule of tutorial depends on the available schedule of the students. Starting a tutoring business would require investment capital for the application of permits and other things.

The cheapest tutorial fee is about Php2,500 a month or Php150 per hour.

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If you are a high school graduate, most likely you’ll face difficulty in finding a job. The world of employment is getting more competitive and the situation aggravates you’re not a degree holder.

But, you should not lose hope because if you could not get a job, you can make one for yourself. Today, the opportunities for teen entrepreneurs are truly great. The key is to be persistent and be courageous to take advantage the opportunities.

Read also: Top Business Ideas for Students in the Philippines

Here are some of the business ideas that high school graduates can take advantage:

• Social media consulting

Teens nowadays are very computer savvy; thus social media consulting is a good business idea to consider. You can look for clients outsourcing job to optimize their social media pages for their businesses.

• Jewelry making

Jewelry making is an ideal business idea that does not require going to college and getting degree. All you need is your creativity and small amount of capital to buy the materials. You can also learn details from books or even from the Internet. You can sell the finished product online using your Facebook and other social media platform.

• Errand runner

Running errands is a tedious job and people who were pressed for time may look for other people to do the job. Starting a running errands business can make you money. You can offer services such as picking up kids from daycare, taking the dogs to the veterinarian, picking up groceries, and driving older kids.

• Blogging or writing

If you have passion in writing, you can use it to generate income and start a business. All you have to do is to ensure posting entertaining and engaging content that will attract people to read it. Through blogging, you can also earn income from affiliate programs.

• Yard service

Many people think that offering a yard service is a tiresome job. Yes, it maybe, but this can be a profitable business to start that does not require a college diploma. You can offer service to mow the lawns during summer or clear the snow during winter. Other yard services that you can offer include killing weeds, trimming hedges, and planting flowerbeds.

Read also: Business Ideas for Teen Entrepreneurs in the Philippines

Starting a business involves many ups and downs. But, it can be rewarding if you’re working for yourself. You won’t succeed overtime, but you will attain new experiences and skills that will be valuable to succeed even if you’re a high school graduate.

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This business venture is easy to setup as it requires small amount of capital, making it perfect for stay-at-home moms. But, there are instances in which sari-sari stores were not able to survive in the business.

Here are some reasons why sari-sari stores fail:

• Supply and demand

As you plan to start your own sari-sari store, you should also identify what you should offer. This means that you should determine the things or merchandise that your common customers need. As much as possible, stock more items that your customers need the most.

• Advertise

A sari-sari store is not an exemption for the competition. For your business to be noticed and attract more customers, make sure to make it different from your competitors. Prior of the scheduled opening, you must consider advertising. This can cost you some amount of money, but even a simple word of mouth can be a great help.

Read also: How to Start and Operate a Sari-Sari Store Successfully

Making your store presentable is another way to attract customers. You can also consider printing calling cards and give it to your customers and suppliers.

• Credit

Allowing your customers to make credit can be your biggest mistake that can turn your business to fail. You can let your customers make credit once, but never let them do it again and again. Your immediate family, relatives and friends are not exemption to this rule.

• Handling the money

Another reason why many sari-sari stores fail is due to mishandling of money. Many store owners don’t understand about gross and profit, rather they only know the sales made for the day. To know if your business is making a profit, you must learn to separate your capital from the profit. Make sure to save money and learn how to use your gross smartly.

Now that you know those mistakes that most store owners have committed, you have no reason for your business to fail. The key for your sari-sari store business to survive and succeed is to practice those ideas discussed above.

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Investing as little as P10,000 can lead you to financial freedom. With the robust investment options available today, you can choose from many financial products that require low investment amount. You can select from mutual funds, money market placements, equities and unit investment trust funds.

Putting your P10,000 into a high-yielding financial product, it will multiply and grow substantially over a period. Compounding is the easiest way to grow your investment. All you have to do is to choose the right pooled investments that can diversify your holdings.

UITFs and mutual funds are the best vehicle to invest your P10,000. Aside from being affordable, you need not worry about your money because a professional finance manager will manage your fund. Another thing is that you can still withdraw your funds as the need arises, but expect for some fees.

Investing your P10,000 in mutual funds allows your money to grow through the shares earned from various instruments equal to the money you have invested. On the other hand, with UITFs, your money is invested in different instruments like money markets, government bonds, equities and others that are controlled by the Bangko Sentral ng Pilipinas.

Pointers to consider when investing your P10,000

1. Regardless of the amount of money you want to invest and your financial status, it’s essential to identify your financial objective and your willingness to take the risk.
2. You can maximize your gains if you will put your money in a long-term investment.
3. Study how different investment vehicles work and how they can give you better gains.
4. Use and add your extra funds to your initial investment to realize your investment objectives quicker.
5. If you think to invest your money with buying and selling your funds, take time checking the transaction and management fees.
6. Before investing your money to any organization or fund manager, you should check the track record. This way you can ensure if the fund manager has the capability to meet your investment targets.
7. Keep in mind that putting your money in pooled investments involves risks as it is not controlled by the Philippine Deposit Insurance Corporation. Pooled investment isn’t the best option if your objective is to preserve your capital.

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