I don’t know about you, but I feel like time is hurtling at light speed these days. I barely felt the holidays last year, and now, we’re steadily approaching the end of the first month of 2019.
January is usually a very busy month since we do a lot of things that will set the course for the rest of the year. If you’re a Filipino migrant, this particular process is all the more important since each year should ideally bring you closer to your goals, be it coming home to greater financial stability or having your family join you abroad.
Those who belong to the former often have to look beyond what they are currently earning as migrants. Substantial as the exchange rate for Western currencies might be, it’s not as though you could still benefit from your salary abroad once you finally pack up and go home.
Thus, many Filipino migrants and their families often consider putting up a business in the Philippines as a way to secure their financial future. But which ventures are worth looking into? Which ones have the potential to generate enough income to support you upon your eventual return?
- Online Buy and Sell.
- Food Cart or Restaurant Franchise.
- Recruitment Services.
- Professional Blog.
Have you heard of Lucas Papaw ointment? This multi-hyphenate (lip balm, moisturizer, scar treatment, and diaper rash balm) cure-all is now available over the counter, but once upon a time, you could only get it from online sellers who had relatives Down Under, where the stuff is originally produced.
The beauty of having an online shop is that you have little to no overhead expenses as you don’t need to pay rent for a physical location. Simply posting photos of merchandise that are available for sale and actively promoting your online presence can generate a decent customer base for you, over time.
As a Filipino migrant abroad, you can try to source items that are in demand or might prove popular in the Philippines and then sell these to clients on a per-order basis so that you don’t waste money on unsold goods. This way, you can also make the most out of those balikbayan boxes by sending the inventory along to your relatives in the Philippines, who can then ship out customer orders once the box arrives.
Local business lore is rife with the stories of former migrants who came home to put up their own food carts or restaurants, which they later opened up for franchise.
Franchises capitalize on the strength of their operating systems, and when you’ve got a good location to match, the chances of success can be as high as 90%.
That’s not to say that franchises are easy money, of course. Availing of one requires a pretty hefty investment, financially and otherwise, and you need to have a well thought-of game plan in place before you even sign on the dotted line.
Been abroad for quite some time? Got a pretty sizeable network of professional contacts in Australia or wherever you happen to be working? Keen on giving aspiring migrants a leg-up? If so, you may have a unique business opportunity for matching individuals with companies that are actively seeking foreign workers.
As a Filipino migrant, you’ve probably had substantial travel experience and are well aware of the fact that the Philippines has many beautiful locations that remain largely unknown to many tourists. You could monetize that intersection by offering services like ticketing, transfers, and accommodation, along with tour packages.
When it comes to marketing your business, social media will be crucial to acquiring clients locally and abroad. Think uploading all those envy-inducing vacation photos, but with the purpose of enticing potential customers to #BookNow.
Yep, blogging isn’t quite dead yet, provided you can still provide value-added content. And with millions of Filipino migrants all over the world, you’re practically assured an audience.
What could you possibly write about, you ask? Plenty. How about chronicling your journey towards that working visa? Or sharing your tips for getting the best remittance services for the lowest service fees? *wink*wink*nudge*nudge*
Several Filipino migrants have found their niche within the blogging industry, and the revenues from advertising sponsorship and affiliate marketing have made the efforts of writing and running a blog well worth it. Granted, this gig can take a while to get off the ground, and would require a monumental effort up front (then again, what business doesn’t?), but if you have a passion for writing, it can turn out to be both lucrative and fun.
The typical Filipino migrant will never tell you just how hard their lives might be in so-called greener pastures. What’s even more grating than the daily grind, however, is the anxiety that comes with the thought of having nothing to fall back on once they are forced to retire from their jobs.
This 2019, the YOLO (“You Only Live Once”) mindset is shifting over to a YAGO (“You Also Grow Old”) one. As a Filipino migrant, you would want to put your hard-earned dollars to work so you and your family can afford the ultimate luxury: never having to worry about your financial future.