What business ideas can OFWs do over the holidays?
- Open an online shop/li>
- Rent a room or lodging and post it on accommodation sites
- Invest in a food business
- Buy and Sell
- Open a laundry service in your neighborhood
- Partner with your family to open a mini grocery or sari-sari store
The holidays bring much joy to people. But it can also be quite expensive since it is the season for giving gifts. This is especially true for OFWs, whether or not they already found their dream overseas jobs after they did a search in the Philippines; their families have certain expectations from them. They are expected to provide extra cash for their Noche Buena and Media Noche meals. Additionally, their relatives – particularly the children – often await the gifts that they will be sending them.
Your cash flow this December will certainly be higher compared to previous months. Fortunately, there are some things you could do to somewhat get the money back—and investing in a business would do just the trick!
We listed down some of the business ideas for you to try below.
1. Online ShopRunning an online shop can help you earn extra money. The great thing about this business is you have so many options for what items you will be selling in your shop. For example, you can purchase items found in the country you are currently residing and sell it afterwards.
Take advantage of the Internet to reach your potential buyers. On your free time, post the items you are selling on your Facebook account (or on the shop’s Facebook page). You may also use sites like eBay as your platform for your online shop.
2. Room for RentThis business venture is perfect for those who have lodgings back home that do not have occupants. Instead of letting it sit empty all the time, why not jazz it up so that it can be ready for rentals?
For this, you can ask your relatives to help you out by being the caretakers for your property. You can then register it on accommodation sites like Airbnb so it can be viewed by potential customers. As much as possible, look for sites that are available worldwide so you can get clients from all over the globe; you may even attract ones that are offering some job hirings in Canada, Taiwan, Japan, as well as other countries.
3. Food BusinessFood business is another option you can explore, especially if you have a passion for food. It doesn’t have to be a grand restaurant of your own; it could simply be a small eatery offering home cooked meals prepared by your relative or a hired help.
Another idea that you can consider is franchising well-known fast food chains or even small food kiosks. This option is probably best for those who can’t find anyone to cook for their business.
4. Buy and SellBuying and selling businesses are very popular amongst OFWs. This is probably because they could take advantage of the fact that they are in another country where they could buy items that they could, later on, sell to interested parties.
Previously, we mentioned that you could sell these items online. However, another option is for you to partner up with a relative back home who could sell the items you sent to other Filipinos. Again, you may utilize social media pages to advertise your “shop.”
5. Laundry ServicesNobody is fond of doing chores. In this day and age, people barely have time to do minuscule tasks like doing the laundry. Some would rather they pay someone else to do these jobs for them so that they could attend to more important things.
You can capitalize on this and invest in some washing machines and dryers to start your very own laundry service. Rent a space where you could place these machines and hire someone who could manage this business even when you are away. In time, you will see your profits grow as more and more customers seek your service.
6. Mini GroceryA mini grocery or sari-sari store is common in the Philippines. This could be helpful in case you’re looking for additional income abroad. You could even sell imported goods in here at an affordable price to attract more customers.
This cash-generating business is easy to manage. Any member of your family can help run the store while you are away from home.
Key TakeawayThe holidays have been associated with huge spending. However, you can definitely take this time to actually invest in a business venture that will bring you some cash flow instead.
We’ve listed some ideas that you can explore above. Take your time thinking about it and carefully consider which one you want to invest in.