The many years spent by seafarers working on an international cargo or passenger’s ships is an assurance for their family of a regular income—and in dollars at that. But like every OPFW, seafarers also dream of returning home to be with their family and relatives and stay with them for good. They, too, are thinking of someday retiring from work.
Once this happens, seafarers and their families need to think of ways and means on how to maintain their upkeep. They need to plan their financial posture so that they don’t need to worry about sending their children to school or pay the amortization of their home or car loan, since the steady flow or green bucks has stopped.
Joining local shipping firms or other related fields can be an option, but for some seafarers who feel they’ve had enough of seafaring and want to try other fields of endeavor, they can put to the test their hidden skills in entrepreneurship. They may consider venturing into a business. That way, the money they saved will be channeled to a business undertaking that may anchor the family’s future.
- Video Game Arcade/Computer Shop – Who hasn’t heard of video games and the Internet and the hordes of youngsters addicted to them? With a captive and willing market among school kids, setting up a neighborhood video game arcade cum computer shop can be undertaken even without leaving your own home. Once you find a suitable space for your business, be it your own garage or a rented space, all you need are two to four play station units, TV sets, PCs, and a telephone line to get you going. That will cost you at least P100,000. Of course, you can acquire more gaming sets once the clientele starts growing.
- Agro-Business – Offering a much wider and bigger opportunities than franchising, venturing into agri-business is often overlooked if not disregarded by many would-be entrepreneurs. Unlike other ventures though, agri business may require more time before your realize profits. But once you get going, there’s no stopping it. For those with idle lands in the provinces, traditional rice and vegetable farming, as well as tilapia and bangus breeding are possible options. But with the stiff competition brought about by imported grains, you may consider into a specialized farming.
Aquaculture experts recommend venturing into niche markets such as raising eel, lobsters, lapu-lapu, and uland or Giant Malaysian Prawns. On the farming side, one option is organic vegetable farming. There is a growing market for organic produce after consumers heard of reports that most vegetable are sprayed, if not drowned, with chemical pesticides and preservatives to maintain their fresh look on the shelves.
- Bubble Gum Machine – If you are not really that interested to get into business and not ready to handle the financial risks that go with it, then experiment with a P2,000 to P5,000 investment by getting one of those bubble gum machines you see in schools, malls movie houses, supermarkets, play areas, and other places frequented by kids. The minimal investment and the profits you may realize may just inspire you to get into bigger ventures and sail all the way to prosperity.
“Our success depends on the satisfaction of our clients.” This is the foremost principle of the Sebastian Family—the people behind Terestian Craft.
Starting out as a simple hobby by Mrs. Teresita Sebastian in August 2000, attractive and unique picture frames, colorful paper flowers and decorative boxes (with handmade paper as the basic material) were the first products of the company. She actually made these merely as gifts to family and friends or as decorations at home. But when a friend ordered several pieces, Mrs. Sebastian began to take this hobby seriously, encouraging immediate family members of her family to join in the venture. Terestian Craft is truly a home business.
Daughter Melany Sebastian, who was then based in Manila, presently manages the business. And in a recent interview, she reveals that she never regretted her decision to leave what was then a promising career, in order to devote her full time to this growing family business. The following is the Q&A with Melany:
Q: How did you start and how much money was the initial capital?
A: The initial stage was actually a family affair. My parents, my brother and myself were the only ones involved—from the sourcing of the materials, to designing and eventually producing all the items.
Our initial capital was around P100,000 which was used to purchase a variety of handmade paper and bamboos. We also had to set-up a small working area in the backyard for production. The rest was for the purchase of other items like wood glue, handsaw, strings, and other secondary materials.
Q: Why the use of indigenous materials?
A: We decided to retain the use of indigenous materials like handmade paper and bamboo as these items abound in the locality. Since we were just starting, we wanted to make sure that sourcing the materials would not cause us any problem. Putting up a business is a tough job and if your basic materials are not readily available, then that would be another burden to carry.
Q: What were the initial problems that you encountered?
A: Since it was only us in the family who make the products, it was really tiring. We actually had to gather the bamboos near the beach and soak them in salt water. Bamboos attract insects like ants and flies, so soaking them in salt water eliminates this problem.
Then we had to design and assemble each item by ourselves. We had to be careful of each product.
Marketing was also difficult. When this was just a hobby of my mom, we never really thought that we would make money out of the products she made. But when de decided to seriously consider producing in bigger quantities, we had to think of how to sell our products.
Q: So how then were you able to market your products?
A: We had to rely on our friends, then on our friends’ friends and so on. Then we joined trade fairs to introduce our products to the bigger market.
The first trade fair we participated in was the Catandungan Festival. It was a trial and since we got positive response from those who saw our products, we continued to join in other trade fairs, mostly sponsored by the Department of Trade and Industry (DTI).
It also helps to keep your prices competitive. Most of those who order from us actually re-sell our products, so we have to keep our prices low and rely on the quantity of their orders to obtain substantial profit.
Water is life, this is popular saying known in every culture throughout history. But of course! We, as humans need water for continued healthy existence. But did you know that water is also money? In the olden days, water is free. In the 21st century, water is gold. Nothing’s for free anymore even water which is required for life. But because natural drinking water is getting scarcer and dirtier everyday, as enterprising as they are, humans have found a way to sell water.
A recent study showed that three of the five fastest growing food and beverage categories in the global market were beverages. The research revealed that the water business ranked among the top five in the said category. And in Asia Pacific region alone, bottled water was shown as the single fastest growing product in the food and beverage category with a growth of 7% back in 2001.
In the Philippines today, many of us have witnessed the mushrooming of various water refilling stations one after the other. Such booming business can be attributed to the growing awareness of people to a healthy lifestyle, which includes safe drinking water. It can also be traced to the convenience of buying water due to the difficulty in the supply of potable water particularly in the metropolis.
In large cities around the world, safe drinking water can only be obtained from bottled sources unless you want to get ill form drinking contaminated water. Pollution has been the culprit of this scenario. To quench your thirst nowadays, you have to shell out money.
But before you consider venturing into this booming business, you might want to consider several factors which I have looked into recently, particularly on whether to franchise a refilling station or simply be an independent seller of bottled water.
Based on several interviews conducted among existing sellers, the bottled water business is profitable with return on investments ranging from as early as 10 months to two years, depending largely on your store’s location.
Operators of these stations are also one in saying that maintaining their stores comes easy once you have your set of loyal customers. Staff requirement could range from 2 to 5 people depending on the deliveries that you have to meet. And yes, offering free delivery services is a must among refilling stations as majority of the customers are residents or companies who would want to enjoy the convenience of having their water delivered to them. Moreover, having a refilling station do not require a big store (considering the rental fees nowadays) as these stations can fit into as small as 3 meters by 1 meter space, depending on your tank and filtering system.
It’s raining soap bubbles for this 39-year old TLRC graduate. Her business is doing great. She already has two vehicles and recently acquired land titles. All these she got by finding the weakness of most Filipinas in the country today: the obsession to have a whiter and clearer skin.
For Josephone C. Festejo of Antipolo City, it was not easy getting to where she is right now. She mainly attributed her success to her love for soaps and her training at Technology and Livelihood Resource Center (TLRC).
“I was working in a cosmetic company then. Back then, I was already selling soaps and other beauty products as a sideline.” She narrates.
That time, Josephine was not making her own products. She was simply buying wholesale products and reselling them to friends and other individuals.
Recalls Josephine, “My chemist-friend told me ‘Why not make homemade soaps instead?’ She then gave me a formula before she left the country. My other friend also gave me materials and handbooks on making soaps and told me she studied soap-making in TLRC. She suggested that if I want to learn more about soap-making, I should go to TLRC and enroll in a soap-making class.”
With that, Josephine went to TLRC office in 1996 which was still in Makati City. “I went there to inquire about their courses. I decided to take the Herbal Bath Soap course.”
Currently, this one-day training course is done in cooperation with ITD/DOST and includes lectures on material specifications, product formulation, preparation of extract, costing, and pricing of herbal soaps. The training also includes hands-on training on papaya soap, cucumber soap, carrot soap, germicidal, and moisturizing bath soaps.
“I went back on the day of the training itself,” Josephine relates. “There were no requirements other than the payment of the course. The training was only for a day. My advantage was I already had experience in the soap industry so I didn’t exactly had a hard time. I just need to learn and familiarize myself with the techniques.”
She immediately went on making her own herbal soaps after her training. She recalls making so many rejected soaps in her first few days. “It was hard work but I managed to get through it. I told myself that I already had a market and soap molds so I shouldn’t give up.”
She started her business with an initial capital of P15,000 which she got from the land share she sold in the province. She then bought more soap molds, raw materials and chemicals for her herbal soap business.
The market was the next thing she dealt with. Says Josephine, “I already have a market then but it wasn’t enough so I offered my products through referrals from small companies and factories.” She also established a market in provinces such as Cavite, Cebu, Masbate, Ilocos, Pangasinan, and Roxas City which is her hometown.
Most women (and some men too!) have been guilty at one time of shopping for things they don’t actually need to buy but just happens to purchase them because they caught our fancy. And when space starts to become a problem, we suddenly blame ourselves for buying those stuff we have not even used.
A garage sale home business is a smart way to get rid of these useless items and earn a modest income. Here are some pointers when organizing your own garage sale.
Get helpers
It is definitely not advisable to do this on your own. Have some people to assist you. Make sure that you have at least one person assigned to each section to supervise the goods as well as entertain queries form your buyers. And don’t forget to assign someone to take charge of the cash register (make sure you have enough bills and coins for the change!), inventory and packaging (be prepared for those plastic bags!). It is advisable to list every item sold and their prices so that you can check on these at the end of the day.
Advertise the garage sale
Yes, you need to advertise! People should be informed of your garage sale. Simple posters will do. If you have a computer, then just print copies. Or better yet, use some creativity and do the posters by hand. There are also free ad placements available in newspapers or the internet. Use these services. Make sure though that you announce your garage sale several times before the scheduled date.
Open early
Garage sales usually start at around 7:30 in the morning and end around 6 in the evening. So make sure that you get enough rest the night before for a busy day ahead. Do not open your sale unless every single item is on its proper place. Once people flock to your home, you wouldn’t have the time to arrange the goods. It is also better to designate the entrance and exit for your customers (and have someone in-charge of the ingress and egress). This way, you are able to ease the flow and lessen the possibility for shoplifters (they are everywhere!) in your sale.
Secure the area
If you live in a subdivision, coordinate with the security personnel. If possible, have somebody watch over or at least check on the garage sale every now and then. There is a possibility of thieves lurking around. You should be mindful of this and your customer’s safety as well. Also make sure that the cash register is in a secured place so as not to encourage a possible theft.
Supplying bottled safe drinking water is a booming business nowadays. If you have enough capital, you can either get a franchise of a known water refilling station or go independent and start your own brand from ground up. Either which, you really need some serious thinking but the profits from this kind of business is very promising.
However, franchising or going independent has both their share of advantages and disadvantages.
Franchising a water refilling station can mean capital infusion than being independent. Franchising fees can range from around P800 thousand to more than P1 million depending on the franchise, the space, and the location. On the other hand, being an independent seller can cost an initial investment of around P400 thousand to P1 million, based on the capacity of the tanks and filtering system.
Most franchisees, however, enjoy a head start in terms of starting their operations rather than the independents since franchise programs include management assistance/support in their package. This way, new franchisees are guided on how to start their operations while independents have to commence on their own and rely mostly on their entrepreneurial instinct.
Franchise packages likewise include marketing programs for the franchisees which will definitely help in selling their products. Independent sellers, on the other hand, have to come up with their own promotional scheme to attract their buyers. With a marketing plan clearly laid down, franchise holders enjoy name recall and brand attachment to entice the customers while independent sellers have to be more creative in this aspect to gain a share in the market.
On the other hand, independent sellers have the luxury of setting their own prices. Some independent sellers can lower their prices to P35 per gallon while franchisees could only offer around P40 on the same volume because of the royalties they have to pay, which is based on the quantity they sell. Most franchisees revealed that they could not afford to reduce their prices because, aside from the royalties they have to pay, they are also bound by uniformity in their prices included in the franchise agreement. Independent sellers revealed that lowering their prices is their main marketing strategy, considering that franchisees already enjoy the name recognition from clients.
In the end, whether you decide to franchise or become an independent seller, the water refilling station business is definitely a good investment to venture into. No matter how these stations have grown in the vicinity, water remains to be a basic need and you will definitely have a household or company to supply their water needs. But you must be aware of how stiff the competition has become. Thus, you need to provide quality service to be able to come up with loyal clients.
The hair is your crowning glory, so to speak. Traditionally, women are considered the ones who give too much importance to their hair. But have you noticed that we have barber shops as many as (and perhaps more) the beauty parlors? Yes, you can definitely earn big with hair. This is what a barber shop testified during a Q&A.
Q: What problems did you encounter during the initial stage?
A: As I have said, there are a lot of barber shops around. So competition is really a big challenge for me. When I was just starting out, I had to market my shop just like any other business. I had to let the people know about the shop and the services it’s offering. I had fliers printed out and I did an information drive around the neighborhood. Of course, it also helped a lot that my friends referred the shop to their family, friends, and acquaintances. Also, I had to make sure that we provide quality services to keep customers coming back.
Q: Aside from haircut, what other services do your barber shop offers?
A: You see, to be competitive, you must somehow deviate from what is ordinary. People have this thinking that when you say barber shop, you only offer haircuts. But as a guy, I know that having a haircut is not only the sole concern of men. SO just like a beauty salon, we also offer hot oil treatment, manicure/pedicure, massage and facials. And I must say that we do get a lot of clients availing of these adjunct services.
Q: Any advice to those who are interested in venturing into a barber shop?
A: First and foremost, you must bear in mind that your shop is service-oriented. This means that you have to be able to cater to the demands of your clients. In my case, I make sure that my barbers are able to deliver the “cut” our clients want. This includes not only knowledge of the usual haircuts but they have to be updated with the latest styles too. In fact, aside from male barbers, I also employ two ladies who could provide an alternative to the usual “barbero” cut. Besides, if you earn the reputation of providing quality service, customers will definitely come back for your services.
Second, you must personally attend to the operations of the business. Just like in any other businesses, you must be able to know the ins and outs of the trade, so to speak. This would also help you in assessing what your customers want so that you can provide them the best service you could afford.
Third, you must be able to have reasonable goals. It does not mean that once you have set up a barber shop, profit will be there right away. You must be able to establish a client base in order for you to start earning.
Lastly, you must be serious in this home business. Don’t say that it is just another “barber shop”. It is as much as unique as you are. It is a major part of your life as an entrepreneur that needs your time and effort.
[Tags]Philippines, Home Business, Barber Shop, Haircut, Salon, Philippines Home Business[/Tags]
Do you have a vacant space in your backyard? Do you have an idle commercial space that you don’t know what to do with? Is that idle space near a training center for seafarers? Then you just might have stumbled upon a promising business that you can start right at your own home! This is what happened with Mr. Illac Diaz.
Illac founded the Corte Real located in the historic Intramuros (Manila) in June of 2001. Corte Real is the Philippines’ first professional dormitory for seafarers. Offering space for seafarers who have nowhere to go once they transact business in the Big City, Corte real is Illac’s pet project, a fruit of his entrepreneurial spirit.
Set in a 2,500-square meter lot in Intramuros, Corte real is Illac’s thesis in graduate school about professionalizing the fractured markets like photocopiers, street vending, etc. Illac said that he thought of a business which can be given quality service through professionalization.
Stumbling upon the hundreds of seafarers hanging out in Kalaw Street in Manila gave Illac the idea of setting up a professional dormitory for seafarers. “Of course, when you have people, they have their needs. They need food, space, and entertainment. And I focused on the need of these seamen to have space. It was then that I found out that most of these seamen live in miserable conditions when they here in Manila. They are the so-called heroes of our time, yet when they come back home, they get abused.” Illac said.
From a market sample of 20 beds, Illac acquired 580 more to make his dormitory 600-ned strong. He also had to sell some of his investments to help start up the business. To cut expenses, he himself dipped his hands into work needed for redecoration of the area. “I was the architect, the interior designer of the comfort rooms, I did the bedding, all those little things I had to do for this dormitory at the start.”
And so by mid 2001, the dormitory was ready for operation. Illac though was not prepared for the anxiety of getting into such kind of endeavor.
“I was scared. At first, I was so excited, happy…but when I saw my dormitory ready it was scary. I was saying ‘This is it. This is where I invested my money.’ I was praying all the time!”
His worries grew after failing to get a tenant despite advertising his business along the stretch of Kalaw for a week. Adding up to his anxiety was the most of those who promised him tenants backed out in the last minute.