5 Small Business Ideas under P100K (2017)
Many Filipinos dream of being financially stable but do not know how and where to begin. You may not have noticed but it’s really very simple. That is – having your own business and becoming your own boss.
Admit it or not, you know in yourself that you can’t be rich by forever working as an employee. Why not work as your own boss instead?Yes, it is possible.
By now you may be asking how you can build your own business if you have very little money as a capital. Don’t frown. Instead, read further. Because I’m here to give you a short list of business ideas you can start under P100,000 worth of capital money. So hang in there and read because there’s still hope!
Estimated Starting Capital: P20,000-P25,000
One very good business to start is a videoke rental service. Wherever you go, Filipinos just love to sing out loud. Whenever there’s a celebration, whether it’s a birthday, anniversary, fiesta, reunion, or even when neighbors just want to sing together while having a case of beer with them, videoke machines are always present. It’s like the star for all occasions. And because Filipinos will always have a reason to celebrate, you’re sure that your business will always be a boom.
If you have a motorcycle with a sidecar, you can also offer a free delivery service or charge your customers extra for it. If you don’t have this vehicle, it’s okay. You can still push through with this business.
You can get look for videoke machines online for sale to start-up your business. Aside from these, you actually don’t need anything else. I advise you to buy at least five machines and start promoting your business.
Rice Retailing Business
Estimated Starting Capital: P30,000-P60,000
Since rice is part of every regular meal in the Philippines, a rice retail business will never get old. Just make sure that your store is accessible to residents near your area. It is advisable that you rent a space in a nearby marketplace or somewhere in a heavily populated subdivision. This way, you will never run out of customers.
Aside from rice, other equipment you need to procure for this business include:
- Rice boxes
- Weighing Scale
- Plastic/Sando bags
All of these are already included in the estimated starting capital so you don’t have to worry about additional costs except for the space renting fee – that is, if you don’t have your own space to use.
Cellphone Repair Shop
Estimated Starting Capital: P40,000-P50,000
With the ever-growing number of mobile phone users, and mobile phones getting more fragile with every new model release, this small business will immediately be a sure hit!
This is advisable especially if you’re good at repairing phones. But if you’re not, you can always learn it or hire a couple of employees. For this business, you’ll need:
- Repair equipment (you can buy this in package for a cheaper price)
- 1-2 employees
- Phone accessories (optional)
- Load (optional)
If you want more sales, aside from offering repair services, try to sell phone accessories and load too. However, even from the beginning, make sure to prioritize quality repair work. It’s more important to gain your customers’ trust and loyalty than earning a huge sum of money by sacrificing quality work.
To sell more, choose a busy location, preferably, malls or known busy places.
Laundry and Dry Cleaning Services
Estimated Starting Capital: P60,000-P80,000
For this start-up business, you don’t really need to have a lot of washing machines and dryers. Remember: start small. All you need is probably 1-2 of these machines. You can buy a 2-in-1 washing machine that comes with a built-in dryer in some appliance centers for a cheaper price than buying individual washing machines and dryers.
This is the kind of laundry shop wherein customers just leave their clothes and come back the next day (or after a few days) to pick them up. So for this small business, you will need:
- Detergent/Laundry soap and fabric conditioners (buy in bulk for cheaper pricing)
- 1-2 pieces of 2-in-1 washing machines with built-in dryers
- Plastic (to put the clothes in when ready for pick-up)
- 1-2 employees (optional)
You don’t need employees if you can handle it alone. Also, choose a location where there are a lot of prospective clients such as students and people working away from home. The best places to offer this service are spots near universities and dormitories.
Estimated Starting Capital: P90,000-P95,000
A bakery is also a very good small business to start, especially if you know even a bit about making bread. But don’t be discouraged, even if you’re not familiar with this, you can easily google it or search for tutorials in YouTube. Once you master the techniques, you’re good to go!
Look for a partner supplier of dough and other ingredients you’ll need to use so you can get them at a cheaper price. Aside from the basic and regular ingredients for your recipes, for this start-up business, you’ll also need:
- Bakery oven
- Dough mixer
- Bread crusher
- Bread slicer
- Baking trays
- 1-2 employees
As an advantage, look for a good position because a bakery business requires regular human traffic. The best places to sell bread are usually near a market, school or even a church.
These are only a few ideas on which businesses you can start with a capital of less than P100,000. There are a lot of other business opportunities out there, but with greater capital costs. However, in starting a business, you should always remember to start small. So if you want to start a bigger business that will earn you more money in lesser time, begin by financing small deals, like the ones mentioned above, and when you start growing these, you can finally upgrade and even start a new business.
Nothing comes easy in this world. If you want something big, start small. Always remember that tip and off you go to building your first-ever small-scale business!