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Portaz

Need advice from a business owner who has made it work

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charlest27

If i had that kind of money i would just buy Procter ang Gamble stock and use the divideidens to live off or invest. P and G gives 61 cents on the share and pays 4 X times a year.

I have seen this work build a 4 bedroom 2 bath 2 story house rent out the bottom half 2 bedrooms and live up stairs. That way you are allways there. Con is you have to have alot of upfront cash. Oh yea two electric meters .

Member was smart found a family with 2 OFW in them they pay the rent via pay pal . No problems no rent out the door they will go Alot of OFW will ensure there family lives better then they do. It is a shame some family members do not even care how hard the OFW works to provide the things he or she never had. So that is a good market to tap into Familys with OFW in them as long as you have no problem with a family that might not care about the OFW . Do not say that to the family that is a family matter not your problem.

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Portaz

I know there are ways to get a return other than a business but I would feel like a bum. I want to show my children the value of hard work and sensible decisions i could just go on social security here and raise more white trash but that's one if the reasons I want to get away. I think from this discussion I have learned to take it slow .... Philippino pace and do more research and if I must then start small and build up

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Raven

I know there are ways to get a return other than a business but I would feel like a bum. I want to show my children the value of hard work and sensible decisions i could just go on social security here and raise more white trash but that's one if the reasons I want to get away. I think from this discussion I have learned to take it slow .... Philippino pace and do more research and if I must then start small and build up

The slow part is okay, but Pilipino pace may lead to standstill.. :lazy:

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Portaz

Also if we chose sm or ayala and my wife runs it ?with me at home working on marketing and book work so would we still be treated with contempt as I assume my cover wouldn't last for ever

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spooks

Let me give you two stories of expats that opened a food business and have both done well on Camotes Island.

 

John at Cindys Refreshments started a little fast food shop, sort of a Jollibee with hamburgers, etc and just celebrated their 3rd anniversary as is now expanding.

 

Paul/Jeff started Camotes Island bar & grill a little over a year ago and are making a profit.

 

It can be done so don't let the doubters stop you but look at supply and demand and having some kind of niche.

 

Another point and this is for all business. You need outstanding customer service. The Philippines as a rule has poor business customer service.

 

Good luck!

yes John mine was also very successful, I would not do it again for the reason I have given, not a doubter I am a dooer.

 

As for being a bum I am way off retirement age as well. My two tearaways are banned from the 'dealing room because dad is working' I had to do this for the good reasons you posted.

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ancienrocka

It's hard to put this into simple words on the internet without sounding arrogant or being seen as a boastful know-it-all, but we have helped well over 50 people establish businesses here in Cebu and to the best of my knowledge only one has failed. We still work with many of those clients and they have become friends. What made them succeed? This is my take on their qualities:-

  • Most are in "niche" businesses.
  • Most earn their income overseas.
  • Those that operate in the local market have skills that are hard to copy.
  • Most, though not all had sufficient funds to weather the hard times in the first year.
  • All accepted that doing business here was not the same as doing business in their own country. Probably my number one reason for their success

We also know many people whose businesses didn't succeed - most opened bars, sari-sari stores or internet cafes. And remember, unless you have a lazy US$2.5 million hanging around, you can't operate any type of retail business here.

 

We have been successful here in business. In any country there is a very high percentage of all new business ventures that fail. Why have we succeeded?

  • We've been very lucky
  • We are in a "niche" market
  • I have the support of an amazingly clever and hard-working wife (and family)
  • We had the support of a lot of good people on this forum in the early days.  Indeed without the support of Paul, the owner, our business would never have got off the ground.
  • We operate western standards at local prices

I could go on, but I realised it's starting to sound like a self-glorifying advert.

 

What I am really trying to say is that there is NO GUARANTEE that your business will succeed in any country and if you keep your money in the bank, you'll probably be safer than taking a chance.  But you'll miss the fun of being the boss, seeing your business grow beyond your dreams and going to bed at night tired but satisfied that you worked for your money.

 

I'm nearly 67 and don't see retirement as an option for a long time ahead.

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shadow
We have been successful here in business. In any country there is a very high percentage of all new business ventures that fail. Why have we succeeded?
  • We've been very lucky
  • We are in a "niche" market
  • I have the support of an amazingly clever and hard-working wife (and family)
  • We had the support of a lot of good people on this forum in the early days.  Indeed without the support of Paul, the owner, our business would never have got off the ground.
  • We operate western standards at local prices

I could go on, but I realised it's starting to sound like a self-glorifying advert.

 

What I am really trying to say is that there is NO GUARANTEE that your business will succeed in any country and if you keep your money in the bank, you'll probably be safer than taking a chance.  But you'll miss the fun of being the boss, seeing your business grow beyond your dreams and going to bed at night tired but satisfied that you worked for your money.

 

 

I could echo this part, word for word!

 

Just an hour or two ago I was sitting in my chair on the porch gazing at our yard and the stuff in it while enjoying the karaoke from down the street. The thought was, we may not have a lot, but we have what we need, and EVERYTHING we have was earned right here. That in itself is an accomplishment, and as far as I'm concerned, success.

 

Thanks to Paul and to those other forum members and clients who helped along the way (and to you too Paul!).

 

:kissass:

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Portaz

What sought if business Are you guys in?

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CaptainNemo

Also if we chose sm or ayala and my wife runs it ?with me at home working on marketing and book work so would we still be treated with contempt as I assume my cover wouldn't last for ever

 

This hardly needs to be stated here- but the wifes family is another major cause of failure. 

If it becomes apparent that your business has a great upside, you live with the fact that your wife can cut you out anytime and you have no legal recourse.  If ur wife is loyal and trustworthy her family will usually put pressure on her to do this.  

 

However there is an alternative my friend.  Not goin into details but talked with a guy who opened a new business near mango- hes got a tourist visa and has only been here 6mo and made a sizable investment already.  Over a beer the topic of safeguarding his investment came up.  He said not a problem, of course the title is under some philippinos / finance, the kicker is he knows a lawyer where he seperate contract with his "partners" to pre-sell their shares to him so they cant rip him off down the road.  He doesnt chill in the background eiter- he hangs out in his club and sleeps there.  

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Alan S

He isnt the first person to try to get round the law and, if it fails, wont be the first to discover that ways round the law dont work.

 

To take one simple example, on the land ownership issue, anything that anyone does to get round the restrcitions on foreign ownership are AUTOMATICALLY illegal.

 

If you cant trust your partner(s) then dont work with them, or find ways to operate without them.

I still maintain that the export zones are the only safe option.

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SomeRandomGuy

yeah the corporation thing is not something u should really get into.

 

Black and white is what u should stick to not shades of grey that can and will end up having u lose everything.

 

Sure everything is going well for him now but all he needs is for one of those partners to say what happened and he loses everything and it goes to the partners that he apparently has already bought out. Oh and he gets to go to jail also.

 

There are other options but this is not the route I would suggest anyone take at all ever.

If u want to get involved in illegal business practices then do it at home where u can make some real money for the risk that u take.

Do not forget that if u end up in a filipino prison that your kids and wife will have to come and visit u and this country is the number 1 in keeping u in prison for a long time ( this was on an early post by someone else by the way).

 

Please do not do that, yes I have met heaps of guys that have been doing just that and then one day their lawyer just ups and retires with all your hard work because he will dob u in and u will lose everything and go to JAIL.... hope u understand that and I put emphasis on a certain word for u.

 

Putting something in your partners name is just as dangerous. Sure things are working out now but who knows where u will be next year or 5 years from now. There is no divorce here. No lets selling everything and go halves.

I only trust one person and that is me. Love my partner to death but I have gotten to where I am buy trusting myself as I know me.

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Portaz

Unfortunately I have been married before, to my cebuano bride for 2 years, now I prob sound like a punk but I trust her, we had issues with her 10 or so family members here and her parents and she backed me, nothing here is in her name but she trusts me . The move to cebu is my idea she just wants me to be happy , when I was in icu she ran my business she knew nothing about and was by my side after work every day, she puts up with my moods due to surgury and when her family put pressure on her to give them a salary even after we discussed it before the op I guess they figured she would be weak she told me and we ended up sending them home cause they were not happy. Again I may sound like an idiot but if she takes everything I have I think she would deserve it and I will never marry again and just think with my little head lol

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SomeRandomGuy

well here is something to think about also.. if something happens to her...her family gets everything.

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Portaz

Well that's true but trust me after going through brain surgury it's impossible to control every thing or every possibility that's just life

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