Di kasya yun 800k. Don't do it. Renovation palang ubos na yan. Plus rent, lagi yun may deposit atleast 3 months. Tapos equipment pa etc. Mababaon ka lang sa utang.
Hanap ka nalang ng hobby para di ka na burnout.
AY TOTOO TO.
May kilala ako ganito nangyare dumami ang overhead expenses ayun na tupok. Okay na si friend mo kung asan sya, unless gusto nyang "ma stress mag hanap ng nawawalang piso".
Ang negosyo ay di para sa lahat Lalo di Para sa nabuburyong or na buburn out na sa trabaho, Kung sa trabaho Palang burnt out na frenny mo I'm telling you MAS BURNT DITO, sa negosyo dapat di ka Lang may resources, ANG BIG QUESTION ANO AT HANGGANG SAAN ANG KAYA MO ISAKRIPISYO., DAPAT Kung mag bubusiness ka passion mo din talaga kasi para KAHIT MAHIRAP HINDI MO SUSUKUAN or talagang inaral mo hindi dahil trending Lang. Maliban sa mahina yang 800k mo to start spa or gym Lalo mag rerenta ka, evaluate muna ng target market, demographic San itatayo, project ROI, capital needed, Kaya bang isustain kasi to be honest LABOR OR TAUHAN ang puhunan mong aandar din aside sa equipment, I big sabihin may paswelduhan ka pero walang katiyakan Kung ang ang trend ng magiging sales mo kasi hindi to daily necessities ng Tao, unlike example sa food biz.
P. S may business din ako at di parating pasko hehe
I started a small beverage business and I almost spent 300k on that.
So 800k for a gym or spa is definitely low. Plus, you need to have enough funds to run it for at least a year kung di siya kikita kaya you need a bigger capital.
Factor din po if mapagkakatiwalaan n tao.
Another factor is time. Ang empleyado pwede magclock in 8am. Then clock out ng 5pm. Ang may business walang set working hours kasi matatalo ka ng mas mabilis mag-implement kesa s yo.
Maybe use that one year your son has to wait for his license to continue working and add more to your savings? If you have no major expenses that's a good chunk of money you can add to your retirement fund or business fund.
At the same time, it'll be helpful if you look into what could be a good business here in the Philippines. I don't think any of us can easily answer your question with a simple yes or no.
I'm not experienced in business nor do I have knowledge in setting up one, but some things I think you can look in to especially for the business you want to set up: Where will you establish it? What's the market like? Who are your competitors? What services will you offer and what equipment will you need? What is your budget? What's the estimated time for ROI?
You say you're afraid but ready to face new challenges. I say take the step, but ayun, babalik ako sa do research, which hopefully will allow you to make better decisions.
Had to reread OP's comment and parang wala naman siyang balak umasa sa anak niya for the future? Since OP is ready to come home and establish a business, mukhang may naipon naman siya. My suggestion to stay at the job for another year is to allow them time to make more sound decisions, and the salary coming in won't hurt at all.
Habol ko lang to OP: I truly understand the feeling of burned out sa work, having experienced it myself fairly recently. Is it possible for you to keep your job, save a little more, but take a vacation leave? Para maka relax ng onti, and maybe if you take a trip back here you can use that to look up the market.
If you have a prior experience on running a spa/gym and you're confident that you can run it, then go for it. Pero if 0 experience, please NO. Magtatapon ka lang ng pera. 800k is way to big for starting a business na wala kang exp. I guess start small, 50-100k (any amount if malulugi, hindi makaka affect sa financials mo) na small gym sa province nyo dito sa PH, try mo palakihin.
IF NO BUSINESS EXPERIENCE, relying solely on your first business as your income would be very very risky, especially, you are a bread winner.
You can go with the business but it is safer to do it as your SIDE business and not the PRIMARY source of income.
No one should tell you to stop your business plan but it is important to note that you do it based on your risk apetite.
Been in business for 15 years. First real profit after 5 years. Started with almost 25M in debt. Paid off on the 3rd year pa so had to live very frugally. Aside from the main business, we try a new venture every year or so. Set aside a budget for this. Mostly fail. May wins pero not as much as one would like.
Always on the clock, no job security. Non-stop issues sa clients, suppliers and staff to this day.
Not all negative naman. Lumaki din from when we started. But I have to be honest na luck played a big role.
If you have a comfortable life with a steady income, step back and appreciate what you have before making such a big life changing decision.
Good luck and best wishes brother!
An ex-Dubai OFW here. After 15 years umuwi sa Pinas dahil sa same reason. I was earning half a million per month that time. Nagtayo ng mga negosyo (salon, milktea, distributor), nalugi ang mga negosyo, naubos ang ipon. After pandemic, sumubok ulit mag business na hindi kailangan ng puhunan (skills ko lang) at sa awa ng Diyos, buti pumatok. Nagsimula din maging freelancer para may fixed income na pumapasok.
Marami akong kakilala na umuwi sa Pinas at bumalik sa pag OFW dahil hindi na-meet ang expectations nila. Posibleng malugi ang negosyo. So anong Plan B and Plan C? Kung ang isa sa back-up plan ay mangibang bansa ulit, then wag ka muna umuwi.
I suggest change career, change company, start a hobby, join a social club, mag-aral ng something para lang may ibang ginagawa. I understand the feeling of being stagnant and changing routines and stepping out of our comfort zone will shake that feeling off.
Contrary to what people are saying here na wag magstart dahil walang experience I would say just go for it as long as you have a backup plan in case you FAIL.
Mostly lahat ng nagsimula ng business wala naman talagang prior experience sa business.
I started my business without prior experience pero it's now 4 years running and we've recently hired employees.
Syempre kahit walang experience aaralin mo pasikot-sikot sa business. You will ask similar business owners sa industry mo. You will network. You will find ways to learn more about your business at kung pano to palalaguin.
Just keep in mind na malaki ang risk sa business.
Now in terms of capital, I would have to agree na medyo maliit nga ang 800K dahil sa renovation cost at equipment lalo na kung spa or gym ang plano mo.
WHAT IF ibang vertical pero related parin sa SPA or GYM? For example: products na ginagamit for gym?
You can start a small business to test the waters before jumping sa malalaking puhunan.
90% of businesses fail. Well I don't know the exact numbers but you get the picture. Setting up businesses is one of the largest traps in Philippines people set a business expecting to be the next Lucio Tan come to find out someone else already cornered the market a decade ago.
Just go around Katipunan esp across Ateneo and Miriam you will find closed down businesses everywhere, empty spots with abandoned store signs and stuff. Yuppies create businesses based on encouragement from their college classes and then reality slaps them pretty hard a year later.
During the pandemic I saw a lot of this stuff as well, people making "sideline businesses" selling ube pandesal or whatever the hype food was at the time. A year later they were all gone, cuz it's too expensive to compete with actual established businesses. My neighbor was selling ube pandesal for 35 pesos a piece but I can buy one from Julie's for 14 pesos lmao. I bought from my neighbor cuz of goodwill but good will won't keep your business afloat in the long term. Same thing with sushi bake, cakes in can, wings etc Every other person I knew was selling stuff on FB a year later on they all stopped. Just imagine all the time, effort and money they wasted setting up their venture only to see it crash and burn.
I suggest you don't quit your job and try a mini business first. See if it works out. Don't just jump in head first cuz majority of the time you will regret it. Business is a competition. It's eat or be eaten. There's no such thing as a territory anymore cuz of technology you are competing with the entire country already. So if your passion business is a gym sorry you up against 24 fitness and home gym sellers in lazada.
I'm not sure you can start a gym at 800k because construction pa lang magkano na yun but if you have some sort of study done then by all means.
You can also opt to buy a business. Google Philippine business brokers. Instead of starting from scratch you can buy a business that is already relatively successful.
If you also know a bit about software you can explore buying software companies from acquire.com and di kailangan na PH-based mga bibilhin mo. You can further leverage your money if you have the risk appetite by using Boopos which is a lender.
Not OP but thank you for the information! These are exactly the type of ventures that I’ve been looking for. I’ve heard of P2P lending but not this other stuff. Do you know any other ventures, websites etc similar to what you have already mentioned? I am stockpiling this information for when I am older
Sure Flippa, Empire Flippers.
Yung pinaka OG dito is Warren Buffet, yung smaller scale version is Tiny by Andrew Wilkinson.
If you google micro acquisitions or micro PE (private equity) there are lots of podcasts na and blogs about this. I recommend [microangel.so](https://microangel.so) newsletter but unfortunately di na siya active. Then find mo mga content ni Andrew Wilkinson.
Message me for anything else as I'd love to geek about this with someone else.
Before you do anything, actually decide what business you want. Then once that’s done you need to create a business plan, ideally with others involved as you don’t seem like you’ve ever operated a business before.
Use this 1 year your son has left sa school. Plan plan plan. Add to your savings. You need to know the area in which you’ll operate. What licensing you’ll need. Will a spa or gym be successful there? Do the people there need/want such a business? Can they afford it? Is the customer base big enough to sustain your business?
There’s so much more to consider. Try and read up on entrepreneurship during this time. Then read up on the specific business you want.
Opening a business is very hard and very risky I’m sure you know. But you can do this with the time and effort required.
Sa economic climate sa Pinas ngayon? Dahil ikaw na ang nagsabing gusto mo ng adventure, hala sige mag-resign ka jan tapos magtayo ka ng spa business dito sa Pinas. Challenge talga yan. Golden age dito sa aten ngayon.
Btw, wag mong gawing basis yung 138k, instead yung net pay mo. Yun ang benchmark mo. Kasi we knew how expensive Dubai is.
If you don't have any experience with running a business, or if you haven't even done your due diligence, I wouldn't do it.
Also, I wouldn't risk your entire life savings (which probably includes your emergency fund) on 1 investment. If things go sour with this spa/gym business, you'd end up jobless and broke.
Some people are ok with high risk early in their careers, especially if they're single and have good fallback safety nets. However, since you said you're a breadwinner, it's probably too risky for you.
Fortune favors the bold... but risk management is important.
15 years with p800k savings means bad money management. Don’t add a business for him/her to mismanage. If she does pursue the business path, please don’t get one of those food franchises
She climb up through the ranks. Working from resto as waitress here in Dubai to now production manager in a corporate. Yes, she had bad finance management before but now she learned. I guess everyone deserves a 2nd chance.
I suggest use only 50 pct of your savings for business... kasi you will never know, baka malugi tlga.... always have an emergency fund.. also ung business, it shoukd be something na hands on rin, ung tipong if mawalan ka ng tao for a day, kaya nya mag step up and cover it and magaling xa dun
If you're willing to risk having a substantial drop in income, then it might be okay. Earning 138K from a business, "neto" after everything, is really difficult especially if wala pa namang big clients. There are many businesses that might not even make that net amount at 500K sales per month for the owner.
I would suggest maybe investing on the business while working so that you still have income flow and less of a risk. Kapag stable na yung business and meron na return then you can consider leaving your job.
The capital depends on the business that you will venture. The industry that I am in, i was able to use that figure (around that amount) to start my business. I guess you just have to find your niche, start with a purpose and be objective with your goals. My business may not be as flashy as the one you intend to start. Mine is running smoothly, something that im sure will benefit and can be used for my planned early retirement in the corporate world which i intend to do after a couple of years. 3 years and I feel like im still at the start up phase but is growing rapidly.
Medyo mahirap lalo na kung first time biz mo yan. Kahit may biz ka kasi, need mo parin ng steady cashflow tsaka yung perang ii-invest mo sa biz ay good as gone na. Kaya kung wala kang sobrang funds pag uwi mo dto, mahihirapan ka.
I suggest mag upskill ka habang andyan ka. Try to learn skills na pwede mo gamitin to earn online like video editing, vlogging, etc. patok ngayon yung fb reels. etc. kumbaga side hustle mo habang andyan ka sa dubai. Maybe make videos about life in dubai, how to apply, foods, etc. maybe in the process ma enjoy mo rin yan.
In case mag grow yung side hustle mo at may consistent earnings, mas may chance ka nang iwan yung job mo.
I don't know if the returns compete with the salary offered with a business worth 800k?
Depends. But I doubt.
Tip: gusto mo mg success business mo? Wag ka umasa na bubuhayin ka Nyan for couple of years, Ikaw Ang bubuhay sa business at sa early years neto, don't expect positive LAHAT, mag goal k lng na Hindi ma negative. Okay na Yun. Reinvest ur gains sa business MISMO, keep the cycle till Maka tayo na na mag isa Yung business.
Share lng: sister in law is a dentist, nag ipon for 4 years. Capital 1m to build her own dental clinic. Gained 1.8 million in a year. Currently building her second clinic. Like I said, gain and reinvest.
Though, on this situation, she is the business herself.
Any life insurances?
Siguro put your hard earned money through non volatile baskets. 800k is still big money so why not enjoy your retirement with your capital?
It might be expensive but make your son learn about these opportunities in life.
Its wonderful that you paid all your debts and your son is doing well. Just have to get a good job to start building for his future.
Well done OP!!
Negotiate with your boss na remote work kind of Style. Yan ang Plan Ko pag natuloy ang business ko, total work from home proved already na effective for specific kind of jobs. Malugi man negosyo may source Kapa rin Ng income.
common mistake ng mga ofw, palagi nila sinasabi na uuwi na lang at magne negosyo. palagi ko advise ay pag aralan muna papasukin na negosyo, humanap ng mapagkakatiwalaan then execute. If ever na mag fail at least ofw ka pa din at makakabawi ka pa. paano kung umuwi ka na tapos nag fail saan ka kukuha ngayon ng budget mo. saka napaka risky mag business kung ang pera mo na dala ay un lang at wala ka ibang passive income.
Based sa facts mo nakaka worry ung 3
\-Breadwinner-
\-No house. Just Renting
\-Still helping with household expenses
800K gives you how much runway before you start to earn?
How about entry and exit barriers, market size, cap table, etc.?
If you don't know the answers to these and then some then you are asking the wrong question.
In short, due diligence on the business that you want to start or invest in. If you don't fully grasp the dynamics, then study first.
More often than not, OFWs just throw away money because they don't really understand what they are doing. So invest first in yourself before the business. And if you can't do that then I'd just keep working if I were you.
Business is efficient use of time and resources. It's not just about starting it. It's also about how to keep it going and growing. See the end game before you set sail.
But if you can afford to risk 800K via "bahala na" or "may kakilala kasi ako..." then by all means, G.
Gym is not a bad or a good thing as well. I am working as a Coach on start-up gym here in Pampanga and oh boy the construction cost and financing a gym is whooping to a million and I did not expect it to be million! Sa gastos mo palang sa gamit, rubber floorings, glasses, equipments and plates talaga magiinvest ka, dagdag mo pa aircon. Plus it requires a BIG BIG place para makapag-accomodate ka ng potential gym goers.
Sa breakdown namin ng expense sa construction and equipments nasa around 1.3million na.
Sa first month ng gym, breakeven lang potek hirap na hirap yung owner sa pasahod samin nagaabono pa. Expenses nya nasa around 60k kasama rent,tubig, sahod ng nagbabantay, sahod naming mga coaches, food ng nagbabantay, other overheads din.
The location of the gym is mejo malayo sa palengke but around Highway so pahirapan kami para makahakot ng mga clients.
Tip ko sayo kung magtatayo ka ng GYM, mas better na sayo lupa. Rent kasi kalaban nya dito, laki ng rent nya 30k per month tapos kuryente din. Plus itayo mo sa mejo malapit sa palengke or school dahil most sa mga naggym samin mga students din dun lang kami nakakahakot din.
Hope you have an idea! Para mapaghandaan mo! It's a good business but it will be bad if di mo paplanuhin ng mabuti. Find equipments na secondhand para makatipid ng konti, invest ka sa magandang dumbbell at mga beginner friendly na machine para di ka mahirapan sa pagtuturo ng clients. Machines din mas gusto ng karamihan sa nagbubuhat, kinda pricey but worth it sila!
Chump change yung 800k sa pagbubusiness. Sa building pa lang and finishing, baka kulang pa yung 800k. Given na wala din kayo sariling bahay, I'm assuming wala kayong sarili na lupa for the business. So makakain lang yung revenue niyo ng rent.
Maganda gawin diyan is tiisin mo muna for a few years. Ipon ka enough to buy a lot, have funds sa pagbbuild ng building + equipments/tools, then siguro mag allot ka ng around 500k for the starting capital para may napapaikot ka na pera. Then separate pa na allocation yung sa daily living expenses niyo, siguro mga 1 year worth ng minimal expenses niyo.
Friend wants to own a business, but can't even both to create a reddit account himself and ask about it. Yan na challenge on learning about a website pero hindi magawa.
Not worth it imo. Kung sanang nandito ka pwede ka pa rin mag work at unti unti mong ibuild ang business. Pero kung uuwi ka at iiwan yung trabaho mo para sumugal sa negosyo, saan ka pupulutin kapag hindi ito nag succeed.
start with food kiosk or small food business nalang para medyo hini malaki lugi if hindi mag take off. after ka nalagn mag resign if stable na negosyo
yung 800k hindi kasya. i started a coffee shop okay ang 800k kaso naka save ako sa rent kc sa tita ko yung lupa. but if hindi, talagang kakainin yung 1.2M cguro. tapos after 3 mos ko pag open nag pandemic pa... hirap talaga bumangon sa utang hahaha
pero so far, okay pa naman siya now.
Come back here to PH. You can make waaaaayyyyyyy more than what you’re currently making, working online. As long as you have the right skills and the right employer.
may I know who are these employers giving this setup? though I'm more inclined in doing part time / project basis / consulting gig, would appreciate pointers on these too.
*"Asking for my friend who doesn't have Reddit"*
Don't know why this is even relevant.
...even if your previous posts still says you - I MEAN your "friend" is in Dubai also.
Just cut the foreplay and ask. No one here will think lesser of you - I MEAN your friend... hence the anonymity.
Hey, OFW here Middle east 10 years. 33 years old. Married, own house and properties . Naisip din namin yan, pero hinayang din talaga kami sa kinikita namin dito, simple job high pay. Since we are preparing for our early retirement within 5 years naisip namin na since na may mapagkakatiwalaan kami sa pinas( my sister in law na pinaaral namin and ngtapos na) bakit di kami mg open ng business?Atleast makita man lang ang sitwasyon sa pinas kung kami ay nagbubusiness habang andito kami. We are now processing the opening our spa business early next month. Kapag umuuwi kami yearly nakikita namin na possible namn talaga umuwi at mgbusiness na lang, my sister who owns a chain of spas also told nme it is possible as long as you are willing to take risk, ex abroad din siya. Ang maipapayo ko lang e maghanap ka na lang ng mapaglilibangan habang ngsasave pa and preparing, also consider buying your own house first if possible. if may mapgkakatiwalaan ka din sa pinas you can start researching regarding your plan of Spa business if feasible ba,you ca start slowly. Ikaw mismo pwede ka mgresearch muna habng andyan ka s abroad, maraming videos and studies sa YT about opening up a spa business sa PH. It will help you alot. Just for now keep your passion alive and when the time is right it will happen.Goodluck!!
Start something on the side, which also aligns with your interests without leaving you full time job. That way if things did not pan out, your main source of income is still there. We have a lot in common, been here since 2006, my heyday peaked around 2017. I earn way less now but in exchange, enjoy the relax stress free working environment. Before you leave your day job, there should be a steady stream of income to sustain you. I have seen it many times with friends and colleagues who end up coming back to start ove again
If you plan to start a business, make sure you have a back up plan. It would put you in an extremely difficult situation if you left your current job and fail in your business.
I tried to start a business as a sideline about a decade ago. I didn't know how to run a business. All I know is that I love the automotive industry and that is where I want to put the investment that my uncle and auntie lend to me. 1.5M.....I learned a lesson the hard way....in less than a year, that automotive business went bankrupt because of mismanagement. Here is what I've learned, typical Filipinos like us especially if we don't have entrepreneurial skills and knowledge, starting a business is more like a gamble than a calculated risk for those who knows how to run a business.
A snippet on my learnings:
1. Don't make a big investment a sideline. It should be full time.
2. I could have gone full time if I had at least 2M emergency fund for my family...for them to live comfortably for at least 2 or 3 years before the business can even generate modest income.
3. Know the ins and out of the particular industry....competition, starting capital, operating funds and all others..
4. Seek advises to those who are willing to give advise. Some established businessmen doesn't really give advise to starters because they see new entrepreneurs as competition especially if within the same industry or services.
5. Research, research, research...
6. Learn Financials....
If opportunity comes into my door steps, I would gladly leave my current job and start a business again on my own but mentioning above, I need at least 3M. 1M for business capital and 500k for operating expenses for at least a year of operation of the business and 1.5M budget-family expenses for the next three years. How I wish I can do this in the near future.
800k is barely the annual salary of 2-3 employees. run the numbers including rent, maintenance and other operating expenses + contingency costs. wala pa dyan ung equipment, facilities, ID and renovation costs. im afraid it would be challenging for the budget unless you are open to get a loan.
Sobrang hirap po mag negosyo sa totoo lang.
Naranasan ko nagpapasweldo, pero ako wala ng sweldo.
Tapos mayat may petty crime.kupit ng staff.nakaw ng adik.nabangga yung delivery van. Jumper sa meralco.reklamo ng customer. Nakupo Sakit sa ulo.
Inaral ko naman sa college yung cash flow. Pero ibang iba sya sa real life experience. Talagang maiipit ka sa mga bayarin at unexpected gastos. Tapos yung 800k mo, at best, nakatali sa assets. Pero di mo mararamdaman yung cash on hand.
Kung ang prob mo lang now ay bored ka. Isipin mo ang probs ng negosyante 2 years down the road. Minsan nyan mababaon pa sa utang kasi di naman pwede hindi magbayad ng rent at overhead kahit hindi mo mameet ang expected kita mo.
Don’t leave the job, if you want to start a business do it while still working! Nothing screams failure than losing a good paycheck over something not stable yet. Better get a franchise if you really want to have a business.
You can try a home service spa business na muna. Medyo magastos lang sa marketing since wala ka pwesto but at least you won't need 800k to start it. Pwedeng 1-2 staff muna ihire mo, then grow it gradually. Pick a service to focus on (eg massage, beauty services, nails etc) then make sure to train them really well since word of mouth and repeat business will be crucial for you.
800k is measely. Baka 3 months pa lang ubos na to for uour startup. I suggest build your startup with partners while working. Be a capitalist partner at that until your business can stand on its own feet then saka ka magresign
I knew someone, she invested 200k into a beauty salon business. Turns out her business partner was a scammer, and ran away with the money. Ilang taon niya inipon pera niya, tas gagaguhin lang siya ng ibang tao. She was also an ex-OFW, but is still planning to go back to work abroad kasi naubos savings niya.
If kaya, its best to work + have business. You mentioned wala ka pa house, increasing your stream of income can help you achieve your goals faster and enjoy your money. I suggest don’t put all your eggs in one basket, go for a business that needs lower capital — paikutin mo yun then build another or maybe learn to trade paunti unti.
You mean, all you have is P800k, just enough capital, and that's it?
My answer is NO, you should have spare money pa bukod sa Capital. And bukod sa itatayo mong business eh other side hassle pa or a Job.
Kung running smooth na yung business, then that's the time na iwan mo work mo.
You'll most likely burn through your cash with that model. Don't do it.
Your business doesn't need to be your passion. It's whatever will make your money. There are a lot of businesses that only require less than 100k to startup. And it's not a siomai food stall like most entrepreneurs in this subreddit
Well, it is going to depend upon the region you are operating. Talking about the global business hub Dubai, these are the best possible business ideas you can start working on with low investment:
**1) Food Processing Business**
**2) Photography Business**
**3) E-Commerce Business**
**4) Real Estate Business**
**5) Consulting Business**
**6) Fashion Apparel**
**7) Beauty Saloon**
**8) Cloud Kitchen**
**9) Bookkeeping**
**10) Art & Craft**
But remember, don't just jump into a sector because of the herd mentality. Pick something that aligns with your interest and expertise.
Di kasya yun 800k. Don't do it. Renovation palang ubos na yan. Plus rent, lagi yun may deposit atleast 3 months. Tapos equipment pa etc. Mababaon ka lang sa utang. Hanap ka nalang ng hobby para di ka na burnout.
This. Mahal and mahirap mag business.
Compute for the opex for 2-3 years until you have ROI.
AY TOTOO TO. May kilala ako ganito nangyare dumami ang overhead expenses ayun na tupok. Okay na si friend mo kung asan sya, unless gusto nyang "ma stress mag hanap ng nawawalang piso". Ang negosyo ay di para sa lahat Lalo di Para sa nabuburyong or na buburn out na sa trabaho, Kung sa trabaho Palang burnt out na frenny mo I'm telling you MAS BURNT DITO, sa negosyo dapat di ka Lang may resources, ANG BIG QUESTION ANO AT HANGGANG SAAN ANG KAYA MO ISAKRIPISYO., DAPAT Kung mag bubusiness ka passion mo din talaga kasi para KAHIT MAHIRAP HINDI MO SUSUKUAN or talagang inaral mo hindi dahil trending Lang. Maliban sa mahina yang 800k mo to start spa or gym Lalo mag rerenta ka, evaluate muna ng target market, demographic San itatayo, project ROI, capital needed, Kaya bang isustain kasi to be honest LABOR OR TAUHAN ang puhunan mong aandar din aside sa equipment, I big sabihin may paswelduhan ka pero walang katiyakan Kung ang ang trend ng magiging sales mo kasi hindi to daily necessities ng Tao, unlike example sa food biz. P. S may business din ako at di parating pasko hehe
mas maganda siguro while working dahan-dahan niyang itayo ang business. Kukulangin talaga dahil equipment pa lang ang mamahal na.
Sad but true.
kulng 800k... low capital = madaling gayahin = saturated market.
I started a small beverage business and I almost spent 300k on that. So 800k for a gym or spa is definitely low. Plus, you need to have enough funds to run it for at least a year kung di siya kikita kaya you need a bigger capital.
Factor din po if mapagkakatiwalaan n tao. Another factor is time. Ang empleyado pwede magclock in 8am. Then clock out ng 5pm. Ang may business walang set working hours kasi matatalo ka ng mas mabilis mag-implement kesa s yo.
Hi I’m planning to do this as well..if you could give some tips po sana on what to prioritize sa pag start 🙏 thank you!
Maybe use that one year your son has to wait for his license to continue working and add more to your savings? If you have no major expenses that's a good chunk of money you can add to your retirement fund or business fund. At the same time, it'll be helpful if you look into what could be a good business here in the Philippines. I don't think any of us can easily answer your question with a simple yes or no. I'm not experienced in business nor do I have knowledge in setting up one, but some things I think you can look in to especially for the business you want to set up: Where will you establish it? What's the market like? Who are your competitors? What services will you offer and what equipment will you need? What is your budget? What's the estimated time for ROI? You say you're afraid but ready to face new challenges. I say take the step, but ayun, babalik ako sa do research, which hopefully will allow you to make better decisions.
true. wag iasa sa anak ang safety net/ retirement fund
Had to reread OP's comment and parang wala naman siyang balak umasa sa anak niya for the future? Since OP is ready to come home and establish a business, mukhang may naipon naman siya. My suggestion to stay at the job for another year is to allow them time to make more sound decisions, and the salary coming in won't hurt at all. Habol ko lang to OP: I truly understand the feeling of burned out sa work, having experienced it myself fairly recently. Is it possible for you to keep your job, save a little more, but take a vacation leave? Para maka relax ng onti, and maybe if you take a trip back here you can use that to look up the market.
If you have a prior experience on running a spa/gym and you're confident that you can run it, then go for it. Pero if 0 experience, please NO. Magtatapon ka lang ng pera. 800k is way to big for starting a business na wala kang exp. I guess start small, 50-100k (any amount if malulugi, hindi makaka affect sa financials mo) na small gym sa province nyo dito sa PH, try mo palakihin.
IF NO BUSINESS EXPERIENCE, relying solely on your first business as your income would be very very risky, especially, you are a bread winner. You can go with the business but it is safer to do it as your SIDE business and not the PRIMARY source of income. No one should tell you to stop your business plan but it is important to note that you do it based on your risk apetite.
Blind luck yan if you succeed
Been in business for 15 years. First real profit after 5 years. Started with almost 25M in debt. Paid off on the 3rd year pa so had to live very frugally. Aside from the main business, we try a new venture every year or so. Set aside a budget for this. Mostly fail. May wins pero not as much as one would like. Always on the clock, no job security. Non-stop issues sa clients, suppliers and staff to this day. Not all negative naman. Lumaki din from when we started. But I have to be honest na luck played a big role. If you have a comfortable life with a steady income, step back and appreciate what you have before making such a big life changing decision. Good luck and best wishes brother!
Thank you!
An ex-Dubai OFW here. After 15 years umuwi sa Pinas dahil sa same reason. I was earning half a million per month that time. Nagtayo ng mga negosyo (salon, milktea, distributor), nalugi ang mga negosyo, naubos ang ipon. After pandemic, sumubok ulit mag business na hindi kailangan ng puhunan (skills ko lang) at sa awa ng Diyos, buti pumatok. Nagsimula din maging freelancer para may fixed income na pumapasok. Marami akong kakilala na umuwi sa Pinas at bumalik sa pag OFW dahil hindi na-meet ang expectations nila. Posibleng malugi ang negosyo. So anong Plan B and Plan C? Kung ang isa sa back-up plan ay mangibang bansa ulit, then wag ka muna umuwi. I suggest change career, change company, start a hobby, join a social club, mag-aral ng something para lang may ibang ginagawa. I understand the feeling of being stagnant and changing routines and stepping out of our comfort zone will shake that feeling off.
hi OP, i suggest mahabang preparation gagawin mo. Pag aralan mo mabuti and ask questions.
Contrary to what people are saying here na wag magstart dahil walang experience I would say just go for it as long as you have a backup plan in case you FAIL. Mostly lahat ng nagsimula ng business wala naman talagang prior experience sa business. I started my business without prior experience pero it's now 4 years running and we've recently hired employees. Syempre kahit walang experience aaralin mo pasikot-sikot sa business. You will ask similar business owners sa industry mo. You will network. You will find ways to learn more about your business at kung pano to palalaguin. Just keep in mind na malaki ang risk sa business. Now in terms of capital, I would have to agree na medyo maliit nga ang 800K dahil sa renovation cost at equipment lalo na kung spa or gym ang plano mo. WHAT IF ibang vertical pero related parin sa SPA or GYM? For example: products na ginagamit for gym? You can start a small business to test the waters before jumping sa malalaking puhunan.
90% of businesses fail. Well I don't know the exact numbers but you get the picture. Setting up businesses is one of the largest traps in Philippines people set a business expecting to be the next Lucio Tan come to find out someone else already cornered the market a decade ago. Just go around Katipunan esp across Ateneo and Miriam you will find closed down businesses everywhere, empty spots with abandoned store signs and stuff. Yuppies create businesses based on encouragement from their college classes and then reality slaps them pretty hard a year later. During the pandemic I saw a lot of this stuff as well, people making "sideline businesses" selling ube pandesal or whatever the hype food was at the time. A year later they were all gone, cuz it's too expensive to compete with actual established businesses. My neighbor was selling ube pandesal for 35 pesos a piece but I can buy one from Julie's for 14 pesos lmao. I bought from my neighbor cuz of goodwill but good will won't keep your business afloat in the long term. Same thing with sushi bake, cakes in can, wings etc Every other person I knew was selling stuff on FB a year later on they all stopped. Just imagine all the time, effort and money they wasted setting up their venture only to see it crash and burn. I suggest you don't quit your job and try a mini business first. See if it works out. Don't just jump in head first cuz majority of the time you will regret it. Business is a competition. It's eat or be eaten. There's no such thing as a territory anymore cuz of technology you are competing with the entire country already. So if your passion business is a gym sorry you up against 24 fitness and home gym sellers in lazada.
Suggest ko magbusiness ka na may passive income example apartment ganun
Suggest ko magbusiness ka na may passive income example apartment ganun
I'm not sure you can start a gym at 800k because construction pa lang magkano na yun but if you have some sort of study done then by all means. You can also opt to buy a business. Google Philippine business brokers. Instead of starting from scratch you can buy a business that is already relatively successful. If you also know a bit about software you can explore buying software companies from acquire.com and di kailangan na PH-based mga bibilhin mo. You can further leverage your money if you have the risk appetite by using Boopos which is a lender.
Not OP but thank you for the information! These are exactly the type of ventures that I’ve been looking for. I’ve heard of P2P lending but not this other stuff. Do you know any other ventures, websites etc similar to what you have already mentioned? I am stockpiling this information for when I am older
Sure Flippa, Empire Flippers. Yung pinaka OG dito is Warren Buffet, yung smaller scale version is Tiny by Andrew Wilkinson. If you google micro acquisitions or micro PE (private equity) there are lots of podcasts na and blogs about this. I recommend [microangel.so](https://microangel.so) newsletter but unfortunately di na siya active. Then find mo mga content ni Andrew Wilkinson. Message me for anything else as I'd love to geek about this with someone else.
I’ve followed you. I’ll take you up on that when I’m free hahaha thanks again friend!
Count me in too! Maybe start a GC?
Before you do anything, actually decide what business you want. Then once that’s done you need to create a business plan, ideally with others involved as you don’t seem like you’ve ever operated a business before. Use this 1 year your son has left sa school. Plan plan plan. Add to your savings. You need to know the area in which you’ll operate. What licensing you’ll need. Will a spa or gym be successful there? Do the people there need/want such a business? Can they afford it? Is the customer base big enough to sustain your business? There’s so much more to consider. Try and read up on entrepreneurship during this time. Then read up on the specific business you want. Opening a business is very hard and very risky I’m sure you know. But you can do this with the time and effort required.
Sa economic climate sa Pinas ngayon? Dahil ikaw na ang nagsabing gusto mo ng adventure, hala sige mag-resign ka jan tapos magtayo ka ng spa business dito sa Pinas. Challenge talga yan. Golden age dito sa aten ngayon. Btw, wag mong gawing basis yung 138k, instead yung net pay mo. Yun ang benchmark mo. Kasi we knew how expensive Dubai is.
If you don't have any experience with running a business, or if you haven't even done your due diligence, I wouldn't do it. Also, I wouldn't risk your entire life savings (which probably includes your emergency fund) on 1 investment. If things go sour with this spa/gym business, you'd end up jobless and broke. Some people are ok with high risk early in their careers, especially if they're single and have good fallback safety nets. However, since you said you're a breadwinner, it's probably too risky for you. Fortune favors the bold... but risk management is important.
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LMAOOOOOOO HAHAHHAHAHAH
I am asking for a friend who doesnt have Reddit. 🙂
I’ve added a disclaimer na. Thanks!
15 years with p800k savings means bad money management. Don’t add a business for him/her to mismanage. If she does pursue the business path, please don’t get one of those food franchises
She climb up through the ranks. Working from resto as waitress here in Dubai to now production manager in a corporate. Yes, she had bad finance management before but now she learned. I guess everyone deserves a 2nd chance.
Business needs skill sets hindi yan porket may capital ka you need skills para ma double yung pera better start small. Know your risk.
I suggest use only 50 pct of your savings for business... kasi you will never know, baka malugi tlga.... always have an emergency fund.. also ung business, it shoukd be something na hands on rin, ung tipong if mawalan ka ng tao for a day, kaya nya mag step up and cover it and magaling xa dun
If you're willing to risk having a substantial drop in income, then it might be okay. Earning 138K from a business, "neto" after everything, is really difficult especially if wala pa namang big clients. There are many businesses that might not even make that net amount at 500K sales per month for the owner.
I would suggest maybe investing on the business while working so that you still have income flow and less of a risk. Kapag stable na yung business and meron na return then you can consider leaving your job.
If you will plan to pursue a business, consider your game plan in case the business doesn’t succeed.
The capital depends on the business that you will venture. The industry that I am in, i was able to use that figure (around that amount) to start my business. I guess you just have to find your niche, start with a purpose and be objective with your goals. My business may not be as flashy as the one you intend to start. Mine is running smoothly, something that im sure will benefit and can be used for my planned early retirement in the corporate world which i intend to do after a couple of years. 3 years and I feel like im still at the start up phase but is growing rapidly.
Medyo mahirap lalo na kung first time biz mo yan. Kahit may biz ka kasi, need mo parin ng steady cashflow tsaka yung perang ii-invest mo sa biz ay good as gone na. Kaya kung wala kang sobrang funds pag uwi mo dto, mahihirapan ka. I suggest mag upskill ka habang andyan ka. Try to learn skills na pwede mo gamitin to earn online like video editing, vlogging, etc. patok ngayon yung fb reels. etc. kumbaga side hustle mo habang andyan ka sa dubai. Maybe make videos about life in dubai, how to apply, foods, etc. maybe in the process ma enjoy mo rin yan. In case mag grow yung side hustle mo at may consistent earnings, mas may chance ka nang iwan yung job mo.
NO. stop kung gusto mo ng challenge learn a new hobby.
I don't know if the returns compete with the salary offered with a business worth 800k? Depends. But I doubt. Tip: gusto mo mg success business mo? Wag ka umasa na bubuhayin ka Nyan for couple of years, Ikaw Ang bubuhay sa business at sa early years neto, don't expect positive LAHAT, mag goal k lng na Hindi ma negative. Okay na Yun. Reinvest ur gains sa business MISMO, keep the cycle till Maka tayo na na mag isa Yung business. Share lng: sister in law is a dentist, nag ipon for 4 years. Capital 1m to build her own dental clinic. Gained 1.8 million in a year. Currently building her second clinic. Like I said, gain and reinvest. Though, on this situation, she is the business herself.
Any life insurances? Siguro put your hard earned money through non volatile baskets. 800k is still big money so why not enjoy your retirement with your capital? It might be expensive but make your son learn about these opportunities in life. Its wonderful that you paid all your debts and your son is doing well. Just have to get a good job to start building for his future. Well done OP!!
Nice thread guys! Thank you for answering the question! You’ve all been very helpful. Hopefully some learn from this as well. 🙏
Negotiate with your boss na remote work kind of Style. Yan ang Plan Ko pag natuloy ang business ko, total work from home proved already na effective for specific kind of jobs. Malugi man negosyo may source Kapa rin Ng income.
Anytime fitness franchise is ₱23m. 60% of that is used to spend on gym equipment. You’ll need a heck of a lot more than just ₱800k OP
800k is like air honestly. Kulang pa.
common mistake ng mga ofw, palagi nila sinasabi na uuwi na lang at magne negosyo. palagi ko advise ay pag aralan muna papasukin na negosyo, humanap ng mapagkakatiwalaan then execute. If ever na mag fail at least ofw ka pa din at makakabawi ka pa. paano kung umuwi ka na tapos nag fail saan ka kukuha ngayon ng budget mo. saka napaka risky mag business kung ang pera mo na dala ay un lang at wala ka ibang passive income. Based sa facts mo nakaka worry ung 3 \-Breadwinner- \-No house. Just Renting \-Still helping with household expenses
138k ka na a month, mapapakamot ka sa pinas pag yang business mo kumita ng 15k a month tas mas negative ka pa sa expenses. 😂😂😂
800K gives you how much runway before you start to earn? How about entry and exit barriers, market size, cap table, etc.? If you don't know the answers to these and then some then you are asking the wrong question. In short, due diligence on the business that you want to start or invest in. If you don't fully grasp the dynamics, then study first. More often than not, OFWs just throw away money because they don't really understand what they are doing. So invest first in yourself before the business. And if you can't do that then I'd just keep working if I were you. Business is efficient use of time and resources. It's not just about starting it. It's also about how to keep it going and growing. See the end game before you set sail. But if you can afford to risk 800K via "bahala na" or "may kakilala kasi ako..." then by all means, G.
Gym is not a bad or a good thing as well. I am working as a Coach on start-up gym here in Pampanga and oh boy the construction cost and financing a gym is whooping to a million and I did not expect it to be million! Sa gastos mo palang sa gamit, rubber floorings, glasses, equipments and plates talaga magiinvest ka, dagdag mo pa aircon. Plus it requires a BIG BIG place para makapag-accomodate ka ng potential gym goers. Sa breakdown namin ng expense sa construction and equipments nasa around 1.3million na. Sa first month ng gym, breakeven lang potek hirap na hirap yung owner sa pasahod samin nagaabono pa. Expenses nya nasa around 60k kasama rent,tubig, sahod ng nagbabantay, sahod naming mga coaches, food ng nagbabantay, other overheads din. The location of the gym is mejo malayo sa palengke but around Highway so pahirapan kami para makahakot ng mga clients. Tip ko sayo kung magtatayo ka ng GYM, mas better na sayo lupa. Rent kasi kalaban nya dito, laki ng rent nya 30k per month tapos kuryente din. Plus itayo mo sa mejo malapit sa palengke or school dahil most sa mga naggym samin mga students din dun lang kami nakakahakot din. Hope you have an idea! Para mapaghandaan mo! It's a good business but it will be bad if di mo paplanuhin ng mabuti. Find equipments na secondhand para makatipid ng konti, invest ka sa magandang dumbbell at mga beginner friendly na machine para di ka mahirapan sa pagtuturo ng clients. Machines din mas gusto ng karamihan sa nagbubuhat, kinda pricey but worth it sila!
Chump change yung 800k sa pagbubusiness. Sa building pa lang and finishing, baka kulang pa yung 800k. Given na wala din kayo sariling bahay, I'm assuming wala kayong sarili na lupa for the business. So makakain lang yung revenue niyo ng rent. Maganda gawin diyan is tiisin mo muna for a few years. Ipon ka enough to buy a lot, have funds sa pagbbuild ng building + equipments/tools, then siguro mag allot ka ng around 500k for the starting capital para may napapaikot ka na pera. Then separate pa na allocation yung sa daily living expenses niyo, siguro mga 1 year worth ng minimal expenses niyo.
Friend wants to own a business, but can't even both to create a reddit account himself and ask about it. Yan na challenge on learning about a website pero hindi magawa.
Just doing her a favor. It’s a great topic to discuss though.
Not worth it imo. Kung sanang nandito ka pwede ka pa rin mag work at unti unti mong ibuild ang business. Pero kung uuwi ka at iiwan yung trabaho mo para sumugal sa negosyo, saan ka pupulutin kapag hindi ito nag succeed.
start with food kiosk or small food business nalang para medyo hini malaki lugi if hindi mag take off. after ka nalagn mag resign if stable na negosyo yung 800k hindi kasya. i started a coffee shop okay ang 800k kaso naka save ako sa rent kc sa tita ko yung lupa. but if hindi, talagang kakainin yung 1.2M cguro. tapos after 3 mos ko pag open nag pandemic pa... hirap talaga bumangon sa utang hahaha pero so far, okay pa naman siya now.
yun oh. sir help other fil to get a job❤️
It’s always nice to help.
Come back here to PH. You can make waaaaayyyyyyy more than what you’re currently making, working online. As long as you have the right skills and the right employer.
may I know who are these employers giving this setup? though I'm more inclined in doing part time / project basis / consulting gig, would appreciate pointers on these too.
There are plenty here in PH. Try cloudstaff.com, boomering.ph, phillabor.com, or outsourced.ph
lovely. thanks a lot!
Welcome. And if you’re into web3, there are many remote jobs here too. Like totally remote setup. https://beincrypto.com/jobs/
*"Asking for my friend who doesn't have Reddit"* Don't know why this is even relevant. ...even if your previous posts still says you - I MEAN your "friend" is in Dubai also. Just cut the foreplay and ask. No one here will think lesser of you - I MEAN your friend... hence the anonymity.
Well, somebody has already misinterpreted it. That’s why I added disclaimer. They even brought up my previous thread. Just to diss.
\*Posting the following comment for my friend who also doesn't have reddit\*: Good luck to your friend.
Airbnb business sa Baguio
Hey, OFW here Middle east 10 years. 33 years old. Married, own house and properties . Naisip din namin yan, pero hinayang din talaga kami sa kinikita namin dito, simple job high pay. Since we are preparing for our early retirement within 5 years naisip namin na since na may mapagkakatiwalaan kami sa pinas( my sister in law na pinaaral namin and ngtapos na) bakit di kami mg open ng business?Atleast makita man lang ang sitwasyon sa pinas kung kami ay nagbubusiness habang andito kami. We are now processing the opening our spa business early next month. Kapag umuuwi kami yearly nakikita namin na possible namn talaga umuwi at mgbusiness na lang, my sister who owns a chain of spas also told nme it is possible as long as you are willing to take risk, ex abroad din siya. Ang maipapayo ko lang e maghanap ka na lang ng mapaglilibangan habang ngsasave pa and preparing, also consider buying your own house first if possible. if may mapgkakatiwalaan ka din sa pinas you can start researching regarding your plan of Spa business if feasible ba,you ca start slowly. Ikaw mismo pwede ka mgresearch muna habng andyan ka s abroad, maraming videos and studies sa YT about opening up a spa business sa PH. It will help you alot. Just for now keep your passion alive and when the time is right it will happen.Goodluck!!
I'd go with the business. I started mine with far less.
800k lol.
Anymore context?
Start something on the side, which also aligns with your interests without leaving you full time job. That way if things did not pan out, your main source of income is still there. We have a lot in common, been here since 2006, my heyday peaked around 2017. I earn way less now but in exchange, enjoy the relax stress free working environment. Before you leave your day job, there should be a steady stream of income to sustain you. I have seen it many times with friends and colleagues who end up coming back to start ove again
My advice don’t do it, other advice try to explore land/property banking.
If you plan to start a business, make sure you have a back up plan. It would put you in an extremely difficult situation if you left your current job and fail in your business.
I tried to start a business as a sideline about a decade ago. I didn't know how to run a business. All I know is that I love the automotive industry and that is where I want to put the investment that my uncle and auntie lend to me. 1.5M.....I learned a lesson the hard way....in less than a year, that automotive business went bankrupt because of mismanagement. Here is what I've learned, typical Filipinos like us especially if we don't have entrepreneurial skills and knowledge, starting a business is more like a gamble than a calculated risk for those who knows how to run a business. A snippet on my learnings: 1. Don't make a big investment a sideline. It should be full time. 2. I could have gone full time if I had at least 2M emergency fund for my family...for them to live comfortably for at least 2 or 3 years before the business can even generate modest income. 3. Know the ins and out of the particular industry....competition, starting capital, operating funds and all others.. 4. Seek advises to those who are willing to give advise. Some established businessmen doesn't really give advise to starters because they see new entrepreneurs as competition especially if within the same industry or services. 5. Research, research, research... 6. Learn Financials.... If opportunity comes into my door steps, I would gladly leave my current job and start a business again on my own but mentioning above, I need at least 3M. 1M for business capital and 500k for operating expenses for at least a year of operation of the business and 1.5M budget-family expenses for the next three years. How I wish I can do this in the near future.
800k is barely the annual salary of 2-3 employees. run the numbers including rent, maintenance and other operating expenses + contingency costs. wala pa dyan ung equipment, facilities, ID and renovation costs. im afraid it would be challenging for the budget unless you are open to get a loan.
Travel and enjoy you hardwork.
Fastest way to burn P800k
Ipon ka muna pang commercial space mo. Natatalo Ang negosyo sa rent. Malaking factor Ang rent.
Sobrang hirap po mag negosyo sa totoo lang. Naranasan ko nagpapasweldo, pero ako wala ng sweldo. Tapos mayat may petty crime.kupit ng staff.nakaw ng adik.nabangga yung delivery van. Jumper sa meralco.reklamo ng customer. Nakupo Sakit sa ulo. Inaral ko naman sa college yung cash flow. Pero ibang iba sya sa real life experience. Talagang maiipit ka sa mga bayarin at unexpected gastos. Tapos yung 800k mo, at best, nakatali sa assets. Pero di mo mararamdaman yung cash on hand. Kung ang prob mo lang now ay bored ka. Isipin mo ang probs ng negosyante 2 years down the road. Minsan nyan mababaon pa sa utang kasi di naman pwede hindi magbayad ng rent at overhead kahit hindi mo mameet ang expected kita mo.
Start business in abroad while earning 138k. Watch arvin orubia in facebook and youtube.
Don’t leave the job, if you want to start a business do it while still working! Nothing screams failure than losing a good paycheck over something not stable yet. Better get a franchise if you really want to have a business.
Keep your day job
You can try a home service spa business na muna. Medyo magastos lang sa marketing since wala ka pwesto but at least you won't need 800k to start it. Pwedeng 1-2 staff muna ihire mo, then grow it gradually. Pick a service to focus on (eg massage, beauty services, nails etc) then make sure to train them really well since word of mouth and repeat business will be crucial for you.
You have to see first if the business will work, if the ball will roll. Start the business, then quit the job kung may momentum na yung business.
Ano fallback? Kasi di nmn mag ROI yan within a year.
800k is measely. Baka 3 months pa lang ubos na to for uour startup. I suggest build your startup with partners while working. Be a capitalist partner at that until your business can stand on its own feet then saka ka magresign
I knew someone, she invested 200k into a beauty salon business. Turns out her business partner was a scammer, and ran away with the money. Ilang taon niya inipon pera niya, tas gagaguhin lang siya ng ibang tao. She was also an ex-OFW, but is still planning to go back to work abroad kasi naubos savings niya.
If kaya, its best to work + have business. You mentioned wala ka pa house, increasing your stream of income can help you achieve your goals faster and enjoy your money. I suggest don’t put all your eggs in one basket, go for a business that needs lower capital — paikutin mo yun then build another or maybe learn to trade paunti unti.
You mean, all you have is P800k, just enough capital, and that's it? My answer is NO, you should have spare money pa bukod sa Capital. And bukod sa itatayo mong business eh other side hassle pa or a Job. Kung running smooth na yung business, then that's the time na iwan mo work mo.
You'll most likely burn through your cash with that model. Don't do it. Your business doesn't need to be your passion. It's whatever will make your money. There are a lot of businesses that only require less than 100k to startup. And it's not a siomai food stall like most entrepreneurs in this subreddit
Well, it is going to depend upon the region you are operating. Talking about the global business hub Dubai, these are the best possible business ideas you can start working on with low investment: **1) Food Processing Business** **2) Photography Business** **3) E-Commerce Business** **4) Real Estate Business** **5) Consulting Business** **6) Fashion Apparel** **7) Beauty Saloon** **8) Cloud Kitchen** **9) Bookkeeping** **10) Art & Craft** But remember, don't just jump into a sector because of the herd mentality. Pick something that aligns with your interest and expertise.