Small business in Phillippines

From what I can understand from your note, the best advise anyone can give you is not to invest one single peso in your 'friend's' idea ....

Why?

Cause you'll probably lose it. Remember, in business, you have no friends.

I don't care losing it at least I am trying to help someone

Ikawsapat wrote:

What initial investsment  capital should I be inveating in view to target 10000php profit per month?

5 to 10 million should be enough. PhP or USD, your choice. /s

Ikawsapat wrote:

I don't care losing it...

Said every successful businessperson and/or investor ever. /s

Ikawsapat wrote:

...at least I am trying to help someone

Donate to a local charity.

***

I have been operating a SME in the Philippines for the last 10 years - there are opportunities in the Philippines but many pitfalls.  Would be happy to talk to you if in Manila.

Bruce Porteous
***

member [ Ikawsapat ] seems to have be banned Brucereport
i guess it did not appreciate the honesty of the advice given !

My brother in law has a good sari sari business in Tanauan, Leyte. The store, which is also their house, is one of the masonry row houses that were built after typhoon Lolanda. They are lucky to have an end unit which gives them a little more space. There is just a couple narrow isles to walk in because of the many boxes of stock, coolers and freezers. He build a second floor for sleeping. He is in a good location and doesn't have much competion.

After Yolanda I gave him $1,000 to get started. He threw together a cheap plywood shack and stocked it with a few necessities and made a little money. Later when his unit was finished he moved his operation to where it is now. He bought a cheap multicab with coins he saved in a water jug but that didn't last long. I ended buying him a new tricycle in 2015 and his business improved. I give a lot of credit to his wife who worked so hard raising kids and tending the store. She sells over the counter medicines and knows a lot about what works for what and many go to her for advice.

Two years ago he ran into another problem, The tricycle was no longer big enough and there were more and more restrictions on where you could drive privately owned tricycles in Tacloban City. He had his eye on an L300 and had saved P250K towards the purchase, but it wasn't enough. I jumped in one last time and bought the tricycle back from him so he could buy the L300. The tricycle had over 90,000 kms on the clock when I bought it, but still runs good and I use it almost every day. His wife told my wife that they were clearing P1,000 a day a back then. I don't know what they are making now but they go out to eat at Jollibees and vacation at resorts once in a while so they have disposable income.

Here is the down side of the business. She opens the store very early, usually 4am so she goes to bed shortly after closing which is 9pm, 10pm if they are busy. He sleeps in because he is up late every night bagging up cooking oil, sugar, salt, rice and water for ice. They also sell chicken and pork. Her mother and sister mind the store when they go out.

@Ikawsapat

hi how are you? I read your post and it was posted on 2018. so how are you doing now in Philippines 🇵🇭?. is everything going well did you make the right investment? please  share to me too as I want to start a business plan there too thank you very much appreciated if replied.

I wanted to have a Philippines based company do lead generation for my products, targeting USA and payment CPA