If there is one thing entrepreneurs have quickly learned from this current pandemic, it would be that the best businesses are not exactly the glamorous ones, but the ones that will withstand all calamities, whether natural or man-made.
The coronavirus is truly a game-changer. What we once thought as invincible industries have crumbled like a piece of cracker. The fruits coming from years of toil and sweat suddenly got lost in a sea of bankrupt companies, all asking for a lifeboat that has yet to come.
With that said, all is not lost. Putting up a business would never be the same; it will be a little bit more difficult. Restaurants, coffee shops, and bars may be out of the question for now.
If you have saved up some money and would like to start a business but do not know how to begin, then you have come to the right place.
- Digital Marketing Agency
This might take some time for you to set up, especially if you are new to this field. But since all businesses are going digital, it would be worth all your investment in time and money. Do not worry if you are starting with zero knowledge on the subject, there are free courses online where you can learn digital marketing like Hubspot. If you are willing to invest some money, then there are online platforms like Udemy, Coursera, or Stackskills. Courses start from as little as $10 up to the $1,500. Of course, you will also need a laptop or desktop to work. You will also need to market yourself to get your name out there, but basically, those are the only things you will need to start your own agency.
Digital marketing requires you to keep abreast with the developments in the tools that you will use. Facebook and Google, for instance, regularly change their algorithms. If you are not one who likes to study a lot, then digital marketing might not be for you.
2. Liquefied Petroleum Gas Dealership
If there is one recession-proof business out there right now, it would be an LPG dealership. Heck, even gasoline stations suffered due to oversupply and almost zero demand. LPG is a basic necessity, households continued to cook. That is why LPG stores were never ordered to close, unlike most businesses. An initial investment of P 150,000 to Php 200,000 will get you started.
The issue here is safety, and you will have to comply with lots of government requirements.
3. Vending Machines
In a world where social distancing must be observed, vending machines would make sense. Both the business owner and the customer would not have to worry about standing face to face. You do not need to hire someone, and all you need to invest ranges from Php 10,000 to Php 20,000. You do need to do regular maintenance and restocking, so you will have to set aside time.
4. Virtual Assistant Services
This is currently the most popular online job in the Philippines right now. Clients from all over the world are all agog to hire a Filipino VA for their businesses because of our natural ability to handle jobs.
5. Junk Shop
Admittedly, this is not as glamorous as having your own office in BGC or Makati, but it has the potential of bringing you a nice payday. You can earn from buying junk from scavengers, and then selling them to recycling agents. If you have Php100,000 to spare, you may want to take a look into this.
Finding the right kind of business is just the first of many steps. Your success will depend on many other factors, like the amount of work you are willing to put in, finding the right location if it is a brick-and-mortar business, and implementing the right strategies. When entering a business, you are exposing yourself to risks. Studying the business and getting a mentor are great ways to minimize your exposure to risks.