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Monday, September 04, 2017

OFWs Who Wants to Settle Down? Here's Top 5 Business Ideas For You


No Overseas Filipino Workers (OFW) wants to work abroad for rest of their lives. Almost everyone if not all, wants to go home to spend time with their family.   But this is not all the case. Many OFWs are still working abroad for how many years now. Even others become senior citizen working in the other countries for their families.  But don't you know that there is business perfect for OFWs who want to stay for good in the Philippines? This is not easy, but worth trying. All we need is determination and persistence in learning this business and we should be financially smarter too.

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No Overseas Filipino Workers (OFW) wants to work abroad for rest of their lives. Almost everyone if not all, wants to go home to spend time with their family. 

But this is not all the case. Many OFWs are still working abroad for how many years now. Even others become senior citizen working in the other countries for their families.

But don't you know that there is business perfect for OFWs who want to stay for good in the Philippines? This is not easy, but worth trying. All we need is determination and persistence in learning this business and we should be financially smarter too.


Read: Top 10 Small Business Every Filipino Can Start With Minimal Capital



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1. REAL ESTATE

Aside from house for a family, many OFWs has already invested in some properties home, such as vacant lot, another house, an agricultural lot among others. Without income, these idle properties may cost yours in paying real property tax. But enough knowledge, OFWs can turn this property into income generating tools. 


Owners can transform these properties into a boarding house, or apartment. You agricultural lot can be rented by someone who wants to farm. Your vacant space can be opened to people who are looking for space for rent. With these, your properties will be earning money for your family.

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2. FOOD INDUSTRY

OFWs can put up their food business, depending on their budget, knowledge, and skills. This industry offers a wide variety of business. You can choose from a simple carenderia to a small restaurant.

This is one of the most lucrative business in the Philippines. If you are OFW with passion in food preparation or culinary arts such as cooking and baking, this one is good for you.

You can venture in the food industry, open and offer something new to the public. If you want to venture with much lesser risk, you can buy the franchise from a renowned company. It will be easy for OFWs to penetrate the market since franchisors will aid them on the how to’s of running the business.


3. TRAINING CENTERS AND PLACEMENT FIRMS

With many years of experience working abroad, many OFWs have already know the know-how when it comes to working overseas. With their experience in techniques, they can start a training center or placement firm for potential migrant workers.

This is not just a good business opportunity, but also you can help your fellow men to look for a job abroad.

Skills training and job placement are both offered by a single company that coordinates with labor agencies overseas to look for possible job offers.


Read: Top 10 Businesses You Can Start Under Php 10,000 Capital

4. FRANCHISING

Franchising is not only for food stall because you can buy a franchise for lottery outlets, pharmacies, convenience store, remittance centers, gasoline stations, among others. With franchising, OFWs can have instant business set-up.

Usually, franchise owners will help buyers in every aspect of the business, starting from training personnel, acquisition of necessary documents, logistics, and others. While there are franchises that can be acquired with modest capital, bigger and more prominent brands require millions of pesos for the initial investment alone. However, these brands are renowned and the probability of success is much higher.

(7 Eleven is open for franchise)
(Petron Bulilit Station is open for franchise)



5. TRAVEL AND TOURISM

Like a food business, travel and tourism are a lucrative business for OFWs who wants to settle down for good. Aside from traveling back and forth from the Philippines to abroad for work, OFWs do travel too while in vacation here in the Philippines.

OFWs can take advantage of this as they know traveling better than anyone else. Travel and Tourism are good for OFWs who are exploring opportunities. Back in number 1, OFWs who have idle lands in a good location can convert it into resorts, hotels, or restaurants.


Read: DTI to OFWs: "Mag-Negosyo" as Alternative Livelihood
These are just few business for OFWs who want to settle down. So for those who are working abroad, invest on things you can use in the future for your families. Working abroad is not forever, so we have to think for our future.


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