July 03, 2015 | Sharon Cheong
The Philippine Islands have become an attractive location for entrepreneurs from around the world. The Gross Domestic Product grows each year and the experts are predicting that this growth will continue on for many years. The Philippines offer cheap labor and a low-cost commercial space. Each year big corporations from America and the UK come to this area of the world to set up offshore headquarters.
Catering to Large Corporations
Since the Philippines is home to the offshore headquarters for some large companies, it only makes sense to create a business that caters to them. You may be currently running a small coffee shop or café. Build a second location near one of these large companies. The employees go out each day for food and drinks and they are often in a hurry. You can cater to these workers in many different ways. Offer low cost lunch specials or delivery options. Print out flyers to hand out to employees as they leave work each day. Workers need all kinds of products and services. This can leave the door open for numerous ideas to blossom for your business expansion.
Adding Related Services
This is a good idea for expansion if you don't have a lot of venture capital to spend. For instance, if your business currently provides temporary office personnel to local companies, then you might consider adding courier services. This idea, of course, could work with all types of products and services and will simply depend on the individual amount of time and money that you are able to invest. If your idea flops, try something a little different and keep working at it until you meet a vital need in the marketplace.
Write a Book
If you've been successful in some type of business, then why not share your knowledge with other would-be entrepreneurs. These days it's very economical to write an e-book or even a full-fledged book and distribute through Amazon.com and other similar places. If your book is good enough, the book sales can provide a strong additional revenue stream. In addition to this you may be asked by fans to write a second book and this could turn into its own rewarding career. Be sure to share your favorite tips and tricks with readers. Give them something valuable and they'll remember you and recommend the book to their friends.
Become a Public Speaker
This is a good idea for those who have a bit of charisma and enjoy public speaking. You could formulate your speeches around your personal or business success or any other area you feel would be interesting. The Philippines welcomes convention goers from all over the world each year. Once you get your foot in the door, event organizers are much more likely to invite you back again. Be funny, creative, entertaining and you'll quickly develop a good following that can provide a lucrative revenue stream.
This business expansion idea works best when you have an extremely popular product or service that has become highly successful. This could be anything from an ice cream shop to athletic gear manufacturer. The idea is to get investors excited about your brand and convince them that there are plenty of people around the globe that would purchase it. In order to set up your franchise business, it may be necessary to hire consultants and other legal experts to ensure that you are fully licensed and meet the legal requirements.
Leasing Office Space
Your new business will need a fancy office and prestigious address in the heart of Manila's business district. The way to get this with the least amount of work and expenditure is simply to lease your office space. Servcorp Serviced Offices offer a long list of quality amenities to business owners. This is an excellent way to get your own dedicated receptionist and other office personnel for a low cost. Please call +63 2 755 6500 to learn more.