What are the best business ideas and good investment opportunities ideal for OFW’s in the Philippines? This is perhaps the most common question that any industrious and forward-looking OFW is asking and indeed it’s a good question to ask – what is the best business in the Philippines for OFW’s.
While life abroad may be good, retiring at home here in the Philippines is what most OFWs really desire. Before you can retire though, you will have to make some long term investments by building businesses that will keep the cash flowing.
Before I give you a list of possible ideas and opportunities, left’s first define the difference between a business and an investment.
Business vs Investment
I’ll make this simple – a business is an investment but an investment is not necessarily a business. Also, you a business is something that you invest in.
Investment is defined as the action or process of putting money in for profit. Business on the other hand means the practice of making one’s living by engaging in commerce. There is a slight difference between the two.
A business requires that you “work” on it wherein an investment simply means putting money into something. Starting your own business means you’re directly involved in its operations. On the other hand, you can just simply invest on someone else’s business and not worry about operating it. Am I making sense here?
So, should you start your own business or just invest in someone else’s? Truth is you can do both but if you’re like me you like to get hands on and get things done, right?
Business Ideas and Investment Opportunities
So what’s the best business in the Philippines for OFW’s? Check my top 3 list below.
Start an Online Business
More and more OFWs realize the power of the internet. I am a living example of someone who uses the internet to make a living. The biggest chunk of my income is coming from the internet. I’m telling you – it works.
There are many ways to make money online such as blogging, affiliate marketing, ebay and other similar stuff.
Pro: Easy and cheap to start.
Con: Learning it might take quite some time.
Filipinos love to eat. This means that going into the food business can make you big bucks. You can franchise a food cart or start a small restaurant. One thing that’s getting more and more popular right now are food parks – it’s essentially the typical food court that you see in big malls but located outside.
Pro: People eat everyday which means there will always be sales.
Con: Spoilage. Food don’t really last that long.
Get Into Direct Selling
Many people don’t think of direct selling as a business but here’s what I can tell you – if you know how to do it right, you can transform it from the typical “maglalako” type of making money into a thriving business with your own salespeople doing all the selling for you.
There are many direct selling companies in the Philippines and thousands of Pinoys, many of which are former OFWs, are making big bucks out of it.
Pro: Easy and cheap to get started
Con: Can be hard at first but the benefits are very good anyway.
Conclusion: The best business in the Philippines for OFW
I know that OFWs work very hard to earn money in order to finance the needs of their loved ones which is why I believe OFWs need a guide in order to achieve success in finding the best business in the Philippines for OFW’s.
Nobody wants their hard-earned money to go into waste which is why I created a 3-day email course with the sole purpose of helping transform OFWs into full-time world-class entrepreneurs.
Are you an OFW in search for a Philippine-based business? Click below.