Thursday, September 28, 2017

You Should Start Saving Now, 7 Tried and Tested Business Ideas for OFWs


Poverty perhaps is the main cause to why a lot of Filipinos chose to leave their family and work abroad.

So, if you're tired being an OFW but still wanted to earn for a living when going back to the Philippines, these 7 business ideas will lead you to success and financial stability.

1. Cellphone Loading Station

Mobile credit is a resource that every Pinoy needs, and with majority of Pinoys owning cellphones, you'll surely have a ton of customers. An easy and underrated business any OFW can start is to open a cellphone loading station. All you need is to purchase a retailer sim and a mobile device.

2. Water refilling

Purified water has already become a necessity for every household in the country. Hence, the water refilling industry will stay strong in the market. You just need to make sure that you are producing safe and clean water.

3. Sari Sari Store / Mini-grocery Business 

What's great about a sari-sari store is that it requires minimal investment with low overhead costs. Family members can easily take turns manning the booth and even the youngest of them can learn about business at an early age. When starting a sari-sari store, assure that it is located in a prime spot with a lot of foot traffic or office buildings.

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3. Internet Cafe

An Internet Cafe has proven to be a withstanding business model in the Philippines.The most important step is to find a prime location with a lot of foot traffic coming from your target market. Assure your store has access to a good broadband connection.

4. Food business

The food industry will never perish since people will need to eat to stay alive. Meat, fruits, vegetables, and processed foods are always in-demand products that you might consider selling. You may also try to combine your food business with farming, poultry and fishing.

5. Real estate

For OFWs who have already saved enough money to buy real estate in the Philippines, the real estate industry can be a low risk yet rewarding venture. The real estate industry includes real estate development, real estate trading, and property leasing (building apartments or commercial spaces for rent).

6. Franchising

If you have already saved enough money from working abroad, investing in a franchise business or becoming a franchisee on an already successful business model can also be a good business idea.

7. Blogging

Blogging can be an online business where you can start anywhere as long as you have an Internet connection. Hence, you can start it while still working abroad. Blogging involves creating a blog or a number of blogs which regularly publish content that are targeted to broad or specific audience. A blog can earn through advertising, sponsorship, affiliate marketing and other monetization schemes. One of the most popular and easiest ways to monetize a blog is through AdSense. There are actually many OFWs that already become bloggers – and some of them are already enjoying success.

Source: OFW Guru / Kwentong OFW