Business Mentor: Start a Business in 2018

Armando Bartolome

Posted at Dec 30 2017 07:43 AM

In just a few days, 2017 will be over. After all the merriment, you may be thinking of what to do in 2018. You may be thinking of starting a business, but have no idea what would work.
 
Your choice of business should depend on your knowledge, skills, financial capacity, location, target market and mindset. 

There are lots of businesses you can enter, but you need to focus on the ones that you think you can handle, and those that can succeed in your location. 

Keep an eye on the key trends. Here’s a list of business ideas that can help you decide which is the right enterprise for you. 

1. Internet Café 
The most popular coffee shops are almost always crowded with students carrying their books and laptops. It has even become an issue in some coffee shops because many students “overstay” after ordering a single cup of coffee. You can provide an area for these students where they can study and enjoy coffee for a minimal fee. 

2. Pet Grooming Service
Have you noticed how a lot people bring along their pets wherever they go? Most of these pets cost more than P10,000 which means that their owners are willing to spend to groom their pets. If you are a pet lover yourself, this can be the right business for you.

3. Catering Services/Meals-on-the-Go
There are a lot of people nowadays who are too busy with work to prepare for occasions like birthdays or anniversaries. You can tap this market as well as also offer meals on the go.

4. Convenience store
If you are financially equipped to start a franchised business, then this can work out for you. Again, choosing the right location is essential.

5. Online Selling
Technology has allowed us to sell and buy anything with just a click. You just need to find the right suppliers and establish your virtual presence.

6. Food Cart
Pinoys love to eat snacks. You don’t need to shell out much in building this kind of business, unless you opt to franchise.

7. Laundry Shop 
A lot of people these days would rather go to a laundromat than wash their laundry at home. Laundromats are particularly popular with call center agents.

8. Ukay-ukay /Thrift Shops
Filipinos love thrift shops and second-hand stores. You may start out with the things you want to get rid of, then ask relatives and friends if they have things they want to sell. You’re not just letting them earn extra money, but helping them declutter their homes as well.

9. Event Planning Services
This has become a very lucrative business. You will need the right suppliers and people to help you plan and execute events. 

10. Child Care
If you are fond of kids, then this is the business for you. You can help single parents or parents who have hectic schedules. Make sure you provide a great program package that would convince parents choose to entrust their children to you. Of course, you need to find a very strategic location for this. Some of those who started out with this business eventually ventured into pre-school institutions. Who knows? You might just own your own school someday!

I hope these business ideas can help you get you started this 2018. Don’t be afraid to take that leap. It’s never too late to start your own business. Good Luck!

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For questions and comments, you may contact Armando "Butz" Bartolome by email: [email protected] 
or on Twitter https://twitter.com/philfranguru 
His website is https://www.gmbmsglobal.com