Best Business For Ofw In The Philippines: If you are an overseas Filipino worker looking for a new business in the Philippines, you have most definitely come to the right place! Not only will we be discussing business ideas for OFW (who are in the Philippines), but we will also be discussing business ideas for OFW who are currently outside of the Philippines.
Best Business For Ofw In The Philippines
In this section, we will be looking at the best businesses for OFWs in the Philippines. This includes a mixture of businesses with some unique opportunities and gaps within the market.
The great thing about starting a cafe business in the Philippines is that there are several options available. You could decide to open up a kiosk or even sell coffee from a motorbike! The possibilities are endless.
Previously we have spoken about how to start a cafe business in the Philippines, which is a well-recommended read if you are looking for the best business for OFW in the Philippines. It has some jam-packed information about the café and coffee industry as a whole.
Candle businesses are also a unique opportunity. External statistics from the European and American markets suggest that this may be a fantastic business opportunity for exporters and importers from the Philippines.
This is also a great small business for OFW as it can be started from home or a small office. Similar to every business idea we are speaking about today, the Philippines market is continuously changing, so DYOR (do your own research) is always recommended when starting any new business as an OFW.
Small Store Business
Stores can be a very profitable business for OFW. Still, several elements are needed to start a successful store in the Philippines. One of those important factors is differentiation. In other words being different from your competition in terms of stock, price, experience, location, etc.
Food stores always have a steady stream of interest as we all love food; however, they are also highly competitive, especially with the aggressive growth of 7/11 over the last several years. Thus, being in a strategic location and creating a business growth strategy is paramount when starting this kind of business as an OFW.
Dating Agency Business
It may be surprising, but starting a dating business in the Philippines has become one of our most popular posts in recent weeks, and this trend looks promising as we look into the future of the Philippines.
Can you create a dating business targeted at the Philippines? Absolutely! This type of business can be an app, website, or agency. Similar to most businesses, you will need to choose a popular niche but less competition than the main categories.
For example, instead of creating a dating agency for single Filipinas, how about creating an agency for single Filipina moms? This, of course, is just an example only but goes to show there are different ways you can look at the same idea.
Online Clothing Business
As an overseas Filipino worker looking for the best businesses for OFW, you will have a wealth of experience traveling the world and absorbing other cultures. One of the cultural differences of most groups around the world is clothing, and this is where you can turn your experience into a profitable business in the Philippines.
Perhaps you have seen a trend take off outside of the Philippines that you think will be very popular. Or perhaps you could even import special items from outside of the Philippines directly to your customers.
Coworking Space Business
Coworking spaces are a massive business in the Philippines if you can choose the right location and the right membership prices, and this is why starting a business in this industry can be a great idea for OFW. But can you earn money by other means, or is the only way you can earn money by selling membership?
Well, if you are starting a coworking space business in the Philippines, there are several ways to earn money outside of the membership. For example, you could also rent private offices, sell food and drink or offer deals to use the phone or other similar services.
Best Businesses For Returning Ofw
This section will look at the best businesses for returning overseas Filipino workers who are not in the Philippines but plan to return in the near future.
Blogging, YouTubing & Podcasting
If you are a returning OFW looking for the best businesses in the Philippines, then without a doubt, blogging, YouTubing, and podcasting are some of the most common businesses for OFW in the modern world. But is starting a website or creating your own channel really profitable, and is it a good idea?
All these channels are profitable in their own way, but one consideration is time. For example, if you live in America or Canada, you may create a YouTube channel showing Filipinos what life is like in these countries or something similar… but it can sometimes take time and continuous consistency to gain enough traction for the business to become profitable.
Take this website for example. In the first year, I had very little traffic, and because of this, my ad revenue was very low. Now I have hundreds of posts covering complicated subjects such as the best businesses for OFW, which has brought me some cash. However, I could only do this by posting regularly and continuously.
BPO – Outsourcing Call Centre
Call centers are currently one of the strongest industries in the Philippines. Starting a call center is not always the quickest or smallest business for OFW in the Philippines, but it has many benefits and opportunities.
You may also decide to start a remote call center in the Philippines, which again offers some advantages and disadvantages. When starting this type of business as an OFW, choosing a task or several small tasks that your office will focus on is often recommended. For example, this could be writing, bookkeeping, design, administrative, or customer service.
Affiliate marketing is one of the best small businesses for OFW in the Philippines that can also be grown into a full-time income. If you are looking for affiliate marketing opportunities in the Philippines, take a look at our full guide. Many companies will pay you to find customers in the Philippines and across Asia, which is essentially how affiliate marketing works.
But there are also several companies globally that will do the same, some of which have fantastic affiliate programs. For example, web hosting has a high conversion rate and pays affiliate marketers considerably well. In other words, there are plenty of high-paying affiliate programs worldwide across all industries.
Import / Exporting
Importing and exporting businesses can be the best business idea for OFW because of your experience with the customers and the business market outside of the Philippines. The question you may find yourself asking is what product to import or export?
With imports, you need to import something back that will be in high demand and profitable, and this is often more challenging than exporting in the Philippines. But, on the other hand, with exporting, you will need to find a product with a high value in other countries but a much lower value in the Philippines.
Beauty Product Business
As a returning overseas Filipino worker looking for a new business, you may have several ideas for different types of products, but how about targeting the industry of beauty? This industry is colossal, and it’s also very profitable, but it’s always important to follow the cosmetic law and regulations around these types of products in the Philippines.
This type of business can also work very well if tailored to other businesses like importing and exporting. But, remember, there are also other opportunities to earn money in the Philippines apart from the domestic market.
Vending Machine Businesses
If you are looking for a source of passive income as an OFW in the Philippines, then vending machines might be the perfect opportunity for you! However, although these businesses suit OFW, some vending machines can be a lot of cash. Therefore, a sizable deposit will often need to be made when starting a vending machine business in the Philippines.
There are also several considerations, including the location, the stock, and the profit. Remember, you do not always need to target food! I’ve seen many successful proteins shake vending machines outside gyms, coffee vending machines outside call centers, and even school supply vending machines outside universities! Don’t be afraid to think outside of the box.
This is a fantastic business for those who like to publish other people’s work. Publishers often do much more than sell books and print them; they market the book, create a manuscript, negotiate with book stores, and so on. But this will depend on how hands-on you wish to be.
Additionally, you may also wish to open up your own bookstore! This can be a fantastic opportunity, but market research is often highly recommended with this type of business.
Best Small Business For Ofw In The Philippines
This last section focuses on the best small businesses for overseas Filipino workers in the Philippines. Most of these businesses can be started on a much smaller scale, which is perfect for those OFW who wish to start small businesses in the Philippines.
Are you a fitness enthusiast or perhaps know your way around supplements? Starting a supplement business is a great small business for OFW in the Philippines. Due to the ongoing pandemic, we have taken more care of our body and how we look, and many opportunities in the market have opened.
Most businesses target bodybuilding and muscle building, but many other fitness niches are also available. You may wish to look into selling on 3rd party platforms to increase the visibility of your business, such as using the services of Shopee and Lazada.
Bookkeeping businesses can work very well, especially if this is in outsourcing. For example, you are living in The United Kingdom… as an OFW. Have you met any business owners who could benefit from the services of a bookkeeping agent in the Philippines? The answer is likely yes, and this is why some call centers specialize in bookkeeping services.
But there are still many opportunities in the bookkeeping industry in the Philippines, including domestic and overseas markets. The great thing about a bookkeeping business in the Philippines is that it can be managed online.
Laundry businesses in the Philippines can be started in a small house or kiosk if you wish, and this is why this is the perfect small business idea for OFW. Naturally, as the business grows, you may need a larger location, and running a business from a house may not be the most professional image, but it is a start.
Similar to other business ideas for OFW, there are several ways you can increase your profitability. one of the most significant is offering additional services to your customers, which could include home delivery, for example.
Cleaning businesses are often not the most glamorous, but if you can build the right clients, they can be a great source of income long term. The key with most of these business ideas for OFW is to choose a niche and be specific when you are starting from the beginning.
This business is also a great small business for returning overseas Filipino workers, and it does offer a great deal of flexibility. The location you are situated in will have an impact on your business opportunities.
Baking Supply Business
There’s an old saying that says – When there is a gold rush, sell shovels. So what do we do if there’s a baking rush? We sell the baking supplies, and this is essentially what this business does – it sells the supplies to bakers and baking companies.
The most important area is your suppliers. If you are making the supplies yourself and need to find suppliers who produce the warm materials (plastic metal etc.), it’s best to shop around if you purchase from suppliers in other countries. Again, Alibaba is a great place for comparing online wholesalers worldwide.
What Considerations Do I Need To Make When Starting A Business As An OFW?
You will need to make several considerations when starting a business as an OFW in the Philippines.
The most significant consideration is how the business will be managed today without your direct involvement. For example, if you live in Australia or America, your business will need to be managed by starting locally in the Philippines.
This leads to additional questions such as who will be the manager of your small team? What will be the process if someone calls in sick? Who will manage the payments and refunds? Managing a business remotely comes with its challenges, which is why this is one of the most significant considerations when starting a business in the Philippines as an OFW.
Other considerations include your time, how you will pay your staff and your suppliers, how you will receive money from the Philippines to your bank account in your new country, and so on.
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