To be honest, I have been planning to put up my own business (whether small or big) since I started working which was 10 years ago. But up until now, I still do not have my own business. There are so many businesses popping and most of them are either networking business or cart business. You can start your own business by investing as low as 4,000 pesos. But why don’t I have a business yet to think I could already start my own anytime I want to. I talked to a friend who recently put up a business. It was a food cart business that sells burgers for as low as P10. She actually encouraged me to franchise too because it is a good business. She earns like close to P100,000 a month minus the expenses like ingredients, raw materials, and compensation for her workers. She just needed to invest around P50,000 for the name (franchise), ingredients, the stall, and others like the stove, the freezer, they fryer and many more.
So again, why haven’t I started my own business? because of so many reasons which I will share to you:
1. Capital – For me, this is the easiest part or step in putting up a business because you can always save for it or borrow it from the bank. If you already have a target business, all you need to do is pay and start with the business.
2. Type – Like what I have mentioned above, there are so many types of businesses that you can join. The popular ones are networking and food carts. I have tried the networking meaning I have attended some seminars already. I attended a networking company where you will be promoting food supplements, whitening tablets and many more. I also attended a networking where you sell “load” for all types of telecommunication networks including internet online games but didn’t join. Lastly, I also attended a seminar for insurance but again, didn’t pursue it. Why? because for me, the one who will earn more is the one who started the networking business. Even if they say that isn’t true, I don’t know anyone who joined the networking business who is already in the middle or almost below the “pyramid” earned a lot. That is why I already crossed out the networking business.
3. Research – You can find almost everything and anything in the internet so research. If you want to open up a food business (cart), research on what is appealing to the mass. What type of food that whatever the season is, it will still be something people will form a line to. Example would be my friend’s burger joint. Rain or shine, a lot of people are there buying burgers. Holiday or night, the place is still packed.
4. Attend Bazaars or Seminars – Aside from doing some research, go do Food Cart Bazaars where you will see different kinds of food carts and different kinds of products which you can pick some idea from. Attend seminars. Ask a lot of questions.
5. Give your time and effort – I think the main key in having a successful business is hands-on. That is also one of my issues because I don’t think I can concentrate on it on a regular basis…not just yet. Always check on your business every day. Do some reports. Analyze the behavior of the business. Address the issues right away.