Protection
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{{label}}26 May 2021
Have you ever imagined yourself running your own company and being your own boss? You’re not alone. Many people dream of starting a small business that will become the primary source of their income someday.
Putting up your own business is a practical way to earn and grow your money. Still, it can be intimidating and overwhelming at first, especially if you know little or nothing about what you’re getting yourself into.
If you’re planning on becoming an entrepreneur, you’ve come to the right place. Here’s a rundown of small business ideas at home to get you started on this journey.
1. Convenience store or mini-grocery
Think of this as an elevated version of a sari-sari store. Opening a convenience store or small grocery where you sell a wide range of goods is ideal when you’re in a neighborhood that sits far away from malls or major grocery stores. This can give you a stable source of income. If you already own a sari-sari store, this is a great idea to expand your business.
What it will require:
2. Food cart or stand
With the right concept and product, you can find success in the food cart business. It’s also important to consider a good location with a lot of foot traffic. You can consider shopping malls, terminals, and supermarkets. This opportunity is great for starting and inexperienced entrepreneurs with enough capital to sell a product they like.
What it will require:
3. Local delivery business
Depending on the vehicle you have, you can set up this kind of business for almost any product. For instance, you can work with local food businesses in your neighborhood as a delivery partner or sign up as a delivery partner for delivery or courier service platforms. These days, the demand for same-day parcel and food deliveries are rising, along with couriers.
What it will require:
4. Rental services
Do you have a drone or other photo and video equipment collecting dust in your cabinet? Where did you store your formal wear from the many weddings and formal events you’ve attended? Do you have a van that has been underutilized for a while? You can offer these things for rent.
You can also expand the range and see how much passive income it can give you. For van rental service, you can drive the van yourself or hire a driver.
What it will require:
5. Local home garden
Because of the quarantine, many people have gotten into planting. If you’re one of those plantitas or plantitos, you can start propagating your plants or purchase several pots at wholesale or for a low price from reliable suppliers. You can also consider selling pretty pots to boot. If you’re a freelancer with a passion for plants, this is a great way to maximize your income.
What it will require:
6. Online thrift shop or Japan surplus shop
If you can’t afford to rent a space, you can try setting up an ukay-ukay or Japan surplus shop online. Many Filipinos flock to surplus stores and thrift shops for relatively good quality and unique second-hand items. Whether you’re selling garments or dishware, you can earn twice (or more) than the pieces’ original cost. This is an excellent side hustle idea for professionals who need extra income.
What it will require:
It All Begins with an Idea
There are so many small businesses that you can run online or physically. Hopefully, these small business ideas in the Philippines will inspire you to pick up your feet and plan your own business. Whatever you choose, commit to it and do your best (time + effort + resources) to make it work.
However, remember that even when you manage to start and operate your own business, it doesn’t automatically mean that your finances will be safe for the long haul. That’s why it’s better to prepare with MedLife Protect Plus.
MedLife Protect Plus is a VUL insurance that ensures better medical care access when you need it (and with minimal out-of-pocket cost). It also helps protect your assets and allows you to invest while getting insured, giving you and your family peace of mind if anything happens.
Are you thinking about getting insured amid the pandemic? No worries! You can schedule a virtual appointment with any of our Bancassurance Sales Executives. Contact us today to learn more.
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