Starting a business can sound overwhelming, especially for budding entrepreneurs who only have limited capital. Fortunately, there are businesses that do not require huge funding to get off the ground. In fact, with just P10,000 capital, you can already start your own small business, which you can eventually grow and scale up with the right plan and execution. Listed below are six business ideas you can venture into with a considerate capital.
1. Food cart
Putting up a siomai cart or fishball stand will require you no less than P10,000 starting capital, which can easily be recovered especially if you have a good location in mind. And it doesn’t have to be limited to these. Explore sweets, drinks, and other savory treats - anything that will have your foodie customers hooked!
Location is key in a successful food cart business, so try to set up your food cart in an area with good foot traffic or is easily accessible. From there, it's just a matter of delivering great food and great service.
2. Loading or padala station
With a cellphone, a sim card, and an initial budget of around P5,000, you can already start your own loading or padala business. This is a fool-proof way to earn extra income since practically everyone owns a mobile phone and needs load for messaging or surfing.
You can also expand your “services” by accepting cash transfers or padala service. A number of financial mobile applications provide this service, you just have to choose the one that best suits your needs. You get your earnings through this venture via commissions from the retail transactions.
3. Plant shop
Hello there plantitos and plantitas! If you love and enjoy propagating plants as a hobby, then starting a “plant shop” might be a good business venture for you. This is especially a good idea if you're located near main roads, or somewhere easily be spotted by passersby. If no accessible space is available for your plant nursery, you can opt to do an online plant shop. You just have to take nice shots of your succulents and fortune plants, upload them on your page, and you're good to go!
4. Pastry business
Do you like baking? Turn that passion into a lucrative side hustle by starting a pastry business. If you already have the necessary equipment at home, you will only need a budget for the initial ingredients and packaging.
Utilize your own network or circle friends to get the word out about your venture. You can also start your own social media page (Facebook and Instagram are key!) to post reviews about your baked goodies and build your following.
5. Party styling
If you're naturally good at crafting or designing things, you can try starting a party styling business. You will only need to purchase some initial materials, such as backdrops, tabletops, curtains, etc., that will cost you less than P10,000.
For this venture, you will have to curate an attractive portfolio and promote your services online.
6. Reselling beauty products
The beauty industry pulls in massive business in the country. For as low as a couple thousand pesos, you can tap into that market by becoming a reseller of beauty products. This is a perfect venture for stay-at-home moms or even students looking for an extra income stream. As a reseller, you can advertise your products from the comfort of your home via your social media accounts and own network of friends.
With the above listed business ideas, you can already start a venture of your own with a workable starting budget. Be creative with how you sell your products, and capitalize on your network as much as possible. In no time, you'll be enjoying your hearty profits.