When looking at small businesses in the Philippines with a 200K capital, it’s always a good idea to examine all the Philippines’ options. This includes online options as well as more traditional businesses. It is also true that if you are looking to start a business in the Philippines with 200K capital, it needs to be a profitable business whether your customers are local Filipinos or overseas.
Small Businesses In The Philippines With A 200k Capital
1. Remote Call Center
The call center industry has grown hundreds of percent over the last several years. The world looks to the Philippines and India for most outsourcing tasks. What has changed in recent years is that big and small corporations are looking to outsource to the Philippines.
This opens up an excellent opportunity for those looking to start a business in the Philippines for 200,000 pesos. Of course, creating a remote call center is not the most straightforward task (believe me, I’ve been there), but it can be very profitable if you can find the right customers.
An investor who I was speaking to recently used to run a remote call center. It made him millions of pesos each year. I asked him how he started his business? and he replied, “it all began on Upwork.com” He would team together with his friends and offer their services to overseas clients. This then grew, and he was able to build a team full of agents.
If you are looking to start a call center in the Philippines, it’s recommended to check out our full guide on how to set up a call center in the Philippines. Alternatively, you can also download our free business plan, which includes many of the areas needed when planning to open a call center.
2. Travel Agency Business
Travel agencies are a fascinating case. Over the years, it has become much harder for travel agencies to make money, yet this business is still increasing. So why is this an excellent business for 200K in the Philippines when we know it’s much harder to make money than before?
The travel industry has changed, and even though it is challenging to earn money the traditional way, there are still many routes available to earn money in this industry. For example, last week, there was a report on entrepreneurs in Manila, and one of these entrepreneurs became a referral agent to hotels. He built a YouTube channel and a blog and recommended different hotels, and he was able to earn a fantastic commission.
You can do a similar business in the travel industry or opt-in to be a travel agent, but what is wise in this current economy is that you have a specific niche to find your clients. For example, this could be a travel agency just for backpackers or a travel agency for families.
3. Pawn Store Business Idea
Pawnshops are another industry that has seen somewhat change over recent years. The great thing about pawn shops is that they require very little capital to start and maintain as long as you can find the right products and make a significant profit. Many pawn shops have taken the online route to find great deals on social media sites such as Facebook.
When starting a new business similar to this, it is always essential to have all the legal requirements needed to operate this business. Visit the official business registration gateway for more information on how to set up a business in the Philippines.
4. Food Cart Business
Another small business in the Philippines with 200K capital is the popular food cart business. We have spoken about food cart businesses many times here at Filipino wealth, and if you have a capital of 200,000 pesos, you have more than enough to get you started. If you’re looking to start a food cart business, it is recommended to check out our full guide on how to open this business successfully.
There are a few different options when looking at opening a food cart business. This includes either starting your own food cart business or franchising with another business.
We have spoken about the pros and cons of each previously in the above article, but to summarize, you have much more control over your own business and can make more profit from running your own food cart business. Still, it may be more valuable for beginners to team up with a franchising company.
5. Tour Guide Business Philippines
We all know 2020, 2021, and so on have been difficult thanks to the coronavirus hit. Unfortunately, the Philippines and many other countries suffered from this pandemic, and many tour operators were forced to close and slow business down.
Even though this is the wrong time for the tourist industry (currently), this is not forever. Many successful businesses are built during bad economic times, such as a pandemic.
Many individuals are already starting to book future flights back into the Philippines after the pandemic, and thus tourism will return. This gives an entrepreneur a little extra time to investigate a business opportunity thoroughly.
6. Exporter Philippines
One of the most popular businesses in recent years is an exporting business. As a business owner, this means that you sell products from the Philippines to other countries.
One massive benefit of the Philippines is that the Philippines has so many advantages compared to other countries. for example, there are many fruits and vegetables grown in the Philippines that cannot be grown in other parts of the world. Moreover, due to the popularity of certain foods and other products, there is a huge market and possibility.
An example is coconuts. You can make many different products from coconuts. These can be products from the shell, products from the juice inside, products from the coconut hair, etc. It’s a beneficial natural product. Therefore many Filipino entrepreneurs have accomplished success through exporting.
7. Supplements Store Business
The last small business in the Philippines with 200K pesos is a supplement store. However, supplement stores are starting to see more and more profit over recent years, thanks to the fitness industry increase.
The problem is that the Philippines is full of counterfeit and dangerous supplements; therefore, more and more Filipinos are looking for safer supplements to enhance their wellbeing.
Last month, I read a few articles on the Business Insider website about two fitness experts who opened up a supplement store next to 4 gyms. Because their ideal client’s location was highly accessible and seen, they often sold out on many products.
They were able to buy these products from overseas; they made an absolute fortune. Statics show that the demand for supplements is increasing year after year.
Should I Start A Business In The Philippines For 200K Or Invest?
A popular question is, should I start a business or invest? Both of these options can lead to wealth in the Philippines. But if you do not have a business currently and are working for somebody else, it is typically recommended to start a business before investing.
This is because you cannot control investments, but you can control businesses. Secondly, if you invest, the returns may not be high enough for you to survive if you lose your job, but with a business, you are much more likely to have enough money to live in an emergency happened.
This is not always the case in every situation, but in most situations, starting a business in the Philippines for 200K pesos would be more suitable than an investment.
What Is The Best Business In The Philippines For 200,000 Pesos
There are many different business options, and it’s not always the business idea that creates a successful business. Sometimes it’s the people involved. In other words, the best business for you is a business you are passionate about + a business that you can grow through your expertise.
Many different businesses are currently popular in the Philippines. This is because many Filipinos are continuously looking for convenience, but at the same time, each independent individual has additional requirements. Therefore, the fitness industry post-covid-19 is expected to grow considerably.
As more and more individuals are looking to earn money online, the tech industry is also increasing. In other words, these are very likely growing opportunities over the next several years.
How To Start A Business In The Philippines For 200K?
The Legal Side
The Philippines ‘ government is getting stricter on requirements for businesses. This includes carefully monitoring the incoming and outgoing of companies as well as focusing on taxation. Many businesses, such as the food industry, have specific requirements that you must abide by.
This is to keep your customers safe from harmful products. Here is an excellent source of information for those looking to keep your legal affairs in check.
The Planning Side
Filipino Wealth has a free downloadable business plan to get straight to your email by clicking the business plan tab at the top of this page. The planning side is perhaps one of the most overlooked but essential parts of any business. In this stage, you will find out how much your business will cost, what operations you are going to do, and how you will grow your business.
The Financial Side
The financial side is the fire of the business. If the business does not make money, then there is no future business, so it’s essential that you can generate profit. So if you are looking for small business ideas for 200K pesos in the Philippines, it’s a great idea to look at different areas and see where your 200K will be placed.
The Execution Side
Now it is time to take action. These can include things such as opening your store, making your first purchase with your supplier, marketing on social media, and so on. Unfortunately, many entrepreneurs fall into one trap is to over-prepare, so it’s always wise to take action as this is where you will see your results.
The Growth Side
Lastly, we have the growth side of the business. This is when your business has become successful, and you are starting to build your customers.
Therefore it’s essential to begin to grow your business. This can include selling to different customers, offering different products, or increasing your market presents. Additionally, aside from the seven best small business ideas for 200K in the Philippines, we also have a full list of business ideas that can be started across the Philippines with very little capital.
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