5 Small Businesses with BIG Potentials
Posted On Saturday, November 15, 2008 at by Sun JunHere's an article I found at the Technology Resource Center Site about small businesses that do not need that much capital to start but have enormous potential. The article is quite old but I think the concepts still apply.
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The Technology Resource Center (TRC) is inviting aspiring Filipino entrepreneurs to start making their dream business come true this July. Top on the list of promising business ideas opportunities are five lucrative ventures zealous entrepreneurs may successfully embark on with a capital of less than P100,000. TRC Group Manager Dr. Maria Rosalinda Lacsamana said these five courses are among TRC's Hot Business Picks for the month:
FOODCART BUSINESS
If you are serious on getting into the vastly profitable food business for the long haul, a food cart business is one of your best and least risky bet. You could start in the business with a simple but heavy-duty cart worth P5,000 to P15,000 depending on the material used and how beautiful you want it to look. It is always wise to start on the street-level, while you are still perfecting your recipes and testing the market for the best price. Being ambulant, your business can safely penetrate some of the best locations in town without having to pay a centavo for rent.
DRINKING WATER BUSINESS
Some believe the profit potential in a water station business has already dried up with the mushrooming of water stations nearly everywhere. The truth, however, is that it is easier for a smart new comer to succeed than it is for an established old timer who resists competition. With more Water Stations to choose from these days, people naturally look for the best quality at a lower price. This leads unwise business owners to think they can cut on quality and offer a cheaper price. This never works. People will always put a premium on health over a few saved pesos.
LANDSCAPING BUSINESS
Anyone with the talent and proper training for landscaping could start his own home based landscaping business. TRC's Practical Landscaping Course includes training in ornamental plant production, to give the entrepreneur a huge potential profit margin over the long term. Those just starting out can start it as a hobby. Later they can offer the service as a part-time business or on a freelance basis. Soon they can target large institutional contracts and that's when the big money starts rolling in.
HERBAL SOAP MANUFACTURING
The market maybe filled with too many soap products but that does not mean you have no chance of making it big. Indeed, despite the slippery competition in the presence of cosmetic manufacturing giants, the industry abounds with small soap makers who found a profitable niche. Anyone with a few thousand pesos can start this business. The challenge, however, is to come out with a high-quality and effective product not currently available to your target consumers.
COMMERCIAL BREAD MAKING
Conventional entrepreneurs believe they must build a street corner bakery in order to start a commercial bread production. This is not so. They can always sell to exclusive clients like groceries, restaurants, canteens and similar establishments at a premium. If you still want to go into the bakery business though, you don't have to set it up like everyone else. There are those who succeeded selling only high-quality pandesal. Others only produce hopia, or just cupcakes or large ensaymadas and did very well. These are just a few examples but the possibilities are endless.
Other Hot Business Picks for the month of July are Fashion Accessories Making, Money Changing Business, Laundry Shop Operations, Restaurant Business Operations and Flower Shop Business.
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