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5 businesses you can start under 2 million pesos
Every person who aspires for financial freedom surely thinks of putting up a business. Being an entrepreneur seems like a step in the right direction but there are a lot of things to consider such as your target market, location, and the investment needed. Having a great business idea is one thing and having the capital is another. The word capital may seem scary to anyone who wants to start a business venture. But this shouldn’t be the case – you don’t need a huge sum to be your own boss. There are many business ideas that require less than PHP 2 million to get the ball rolling. What follows below is a short list of some businesses you can consider:
For food enthusiasts, putting up a carinderia (a small eatery) can be a good idea. You will need only Php 20,000 to start. Around PHP 6,000 will go to kitchen equipment such as stove with an LPG tank, cookware, utensils, flatware. Two weeks worth of ingredients cost about PHP 5,000 depending on the menu you will serve. The remaining capital will be used for other expenses such as space rentals, barangay permit fees and transportation costs. The costs can be reduced if you will use your own space and equipment.
2. Food Cart
A food cart business is more convenient compared to a small eatery business. However, it also costs more. Franchising a food cart will cost at least PHP 100,000. Commercial space rental can cost up to PHP 20,000 (initial payment including 2 months advanced one month deposit). The remaining PHP 55,000 can be allotted for additional equipment, additional products, securing permits, and operational costs. It should be noted that operational costs consists of monthly rental, electric and water consumption, and labor costs.
For those who want to work more with their hands, starting up a bakery business will cost at least PHP 150,000. You can purchase baking equipment and utensils for PHP 60,000. Space rental can cost up to PHP 30,000. Remaining budget will be used for business permits, raw materials/ingredients, and labor.
Starting a laundry business is a good idea because of the constant demand, particularly for those that simply don’t have the time to take care of their laundry. For a laundry business, it will cost at least PHP 300,000. Bulk of the expenses for this type of business would be for the washer and dryer worth PHP 60,000 per set.
5. Water Refilling Station
Another business idea wherein demand is not a problem is a water refilling business. With about PHP 250,000, you can already start your own water refilling station. The biggest investment for this type of business is the equipment (that can amount to about PHP 150,000). Also, aside from the equipment, there would be costs allotted to the space rental or renovation of the location.