Jump to content
skhye01

OFW wants to be financially independent

Recommended Posts

Dafey

Nothing ventured, nothing gained. Many small businesses fail because of the "I'll sail my ship alone" attitude of their owners, who don't ask others for advice/suggestions.

 

There are entire books written on giving people suggestions for small businesses and money-making ventures.

 

skhye is showing wisdom by asking for advice/suggestions before attempting to follow that path.

 

Right you are!!! and that is the spirit that will advance this country if it can take hold.

 

Up until I made that post that you quoted, Skhye had shared nothing of his background in business and small ventures that he has tried, only asking questions of the Forum on how/what to do to get ahead. After that post he opened up and we can see that he is indeed and Entrepreneur.

Share this post


Link to post
Share on other sites
Headshot

Right you are!!! and that is the spirit that will advance this country if it can take hold.

 

Up until I made that post that you quoted, Skhye had shared nothing of his background in business and small ventures that he has tried, only asking questions of the Forum on how/what to do to get ahead. After that post he opened up and we can see that he is indeed and Entrepreneur.

 

Well, one thing that Skhye did share is that she is a female. Just saying... :cool:

  • Like 2

Share this post


Link to post
Share on other sites
M.C.A.

Several people here have told you how they make a decent living running a small business here. It is my opinion that they are by far in the minority , and that their success is largely due to being in the right place at the right time with the right idea and enough money to make it work . Many many more people here can relate to you how their businesses failed- some of them many times over. 

 

Please do not assess your opportunites by looking only at the few very successful people .   If you do not have the expertise in a certain business , [ or related business experience] then i strongly urge you DO NOT  put your money into a business no matter how bullet proof someone tells you that it is.

 

You have already tried several businesses and all of them were failures. That does not make you a failure, it just might  however show that running a business is not your forte . At least not without  a savvy partner to guide you

 Great incite on business and if some of these OFW's don't leave soon they'll get so deep in debt their stuck in this quagmire with no option at all to leave, my only advice is leave ASAP and give it another shot like buying land and building apartments or rentals, work smarter not harder.

  • Like 1

Share this post


Link to post
Share on other sites
M.C.A.

Buy wholesale sell retail

Build a shack, rent rooms

Buy low sell high

Best advice I've seen yet.  I watched poor people on Guam become filthy rich just by buying up lots along roads and renting out buildings to business and also apartments.  

 

Wholesale is a terrific idea if you travel frequently to and from the big cities.

Share this post


Link to post
Share on other sites
shadow

Our visa business failed miserably this year, earning about 15% of what it has been doing for well over a decade. As we have other baskets to haul our eggs in, it did not yet kill us completely (it almost did), but 2019 saw about a 70% reduction in our income from previous years. As some of you know, I have been having serious health issues the last 60 days, which were brought on at least in part by the stress of this and the fact that there were periods of time that for financial reasons I went without much relied upon medications. Just a few weeks ago, I was having 10 or so very serious angina attacks per day, which of course led to a heart attack (my third). I really did not think I would make it until Christmas. But, I guess I am not that easy to get rid of, and here I am.

So..., this Very Merry Christmas morning I was going through old threads looking for ideas to make 2020 a more profitable year, and found this thread from 2016 which was packed full of ideas and input from members. As it is of great interest to me, I thought I would see if I can revive it. Maybe new ideas and information can be discussed, or members can add input as to their recent business related successes or failures?   

What say ye, ol' merry gentlemen?  

  • Like 2
  • Thanks 2

Share this post


Link to post
Share on other sites
SkyMan

Perhaps a maid service?  There are a lot of people with live in maids but some that can't afford or don't want that but would like some hours of service each week.  The maids would work for you and go to whichever house you assign them to.  Similar could be done with child care providing short term babysitting rather than full time yayas.  Handymen for fix it services too.  I don't know if any of this would work but just a thought.

  • Like 2
  • Thanks 1

Share this post


Link to post
Share on other sites
Headshot
1 hour ago, SkyMan said:

Perhaps a maid service?  There are a lot of people with live in maids but some that can't afford or don't want that but would like some hours of service each week.  The maids would work for you and go to whichever house you assign them to.  Similar could be done with child care providing short term babysitting rather than full time yayas.  Handymen for fix it services too.  I don't know if any of this would work but just a thought.

Larry, Even better ... a domestic helper placement service. Find maids for people with a finder fee  equal to one or two months of the domestic helper's salary (or just a set fee of say 5000 pesos) plus transportation costs. I know there are people who need domestic helpers (and drivers an such), but have difficulty finding them. I need another maid right now, and I know of at least one other member (Smokey) who is looking for a driver/helper, so I know there is a demand. Finding helpers from out in the provinces (where the best helpers come from) is really difficult for those who live in the city (especially those with few contacts in the provinces) , so being out in the provinces (and mixing with the locals the way you do) gives you an edge for finding helpers.

  • Like 2
  • Thanks 1

Share this post


Link to post
Share on other sites
to_dave007
2 hours ago, shadow said:

What say ye, ol' merry gentlemen?  

Business helping people get property title.  My guess is that you and wife are already skilled at working with gov't offices.  The lady that helped me here also does building permits, DAR clearance, and other "government paperwork"..  Her best clients are well heeled..  both foreigner and pinoy..  and just want to get the thing done.. and done right.

Edited by to_dave007
  • Like 3
  • Thanks 1

Share this post


Link to post
Share on other sites
cookie47
3 hours ago, shadow said:

 I really did not think I would make it until Christmas. 

Well I'm glad you have,, 

Also reviving this thread has been a good read and goes back so far most people i don't know (relatively speaking). Although I will never have a business (although a vehicle repair shop has crossed my mind) this thread has a wealth of information. 

Merry Christmas to all that read this. 

  • Like 2

Share this post


Link to post
Share on other sites
smokey

These are all good ideas the easiest is helper but screen them well ....   Like a finder the customer has a need fill it 

Edited by smokey
  • Like 1

Share this post


Link to post
Share on other sites
Headshot
2 hours ago, smokey said:

These are all good ideas the easiest is helper but screen them well ....   Like a finder the customer has a need fill it 

Screening people is what Shadow and his wife have been doing for years in their PI business. That was why I thought it would be such a good fit for them.

  • Like 3

Share this post


Link to post
Share on other sites
shadow
7 hours ago, SkyMan said:

Perhaps a maid service?  There are a lot of people with live in maids but some that can't afford or don't want that but would like some hours of service each week.  The maids would work for you and go to whichever house you assign them to.  Similar could be done with child care providing short term babysitting rather than full time yayas.  Handymen for fix it services too.  I don't know if any of this would work but just a thought.

Actually this is an idea I researched several years ago when I had a full construction crew going. At the time, I dropped the idea, as there was someone already doing it in Dumaguete, and they also had a second hand/consignment shop downtown. They seemed to be making a good go of it, so I dropped the idea.  The consignment shop is no longer in business, and I haven't heard anything of their manpower agency since. I will certainly be revisiting this as a possible option, thanks for all the ideas, guys, keep them coming.

Share this post


Link to post
Share on other sites
Jawny

Something to consider if starting an employment agency (not sure this is the correct description).....employee entitlements and such.  I’m referring to Philhealth, SSS, Pag-Ibig as well as the BIR taxes for the employees (or at least the reporting). This may be possible to just ignore and get away with setting up the business at least initially.  However, at some point, crab mentality may generate some issues to deal with. 

  • Like 1

Share this post


Link to post
Share on other sites
Headshot

I would suggest he just run the business on a fee for service basis (which could basically be done online) and never personally hire any of the domestic helpers himself. By doing it that way, he can avoid all interactions with BIR, SSS Pag-IBIG or any other Philippine agencies. He would basically be running a referral service (but with transportation of the helpers to the actual employer's location included in the fees). Like I said, his and his wife's strength is in finding and screening people. If he gets into the hiring aspect, it will be a whole new ball of wax that has many legal pitfalls inherent in it.

Edited by Headshot
  • Like 2

Share this post


Link to post
Share on other sites
shadow
18 minutes ago, Headshot said:

I would suggest he just run the business on a fee for service basis (which could basically be done online) and never personally hire any of the domestic helpers himself. By doing it that way, he can avoid all interactions with BIR, SSS Pag-IBIG or any other Philippine agencies. He would basically be running a referral service (but with transportation of the helpers to the actual employer's location included in the fees). Like I said, his and his wife's strength is in finding and screening people. If he gets into the hiring aspect, it will be a whole new ball of wax that has many legal pitfalls inherent in it.

Agreed!

  • Like 1

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Sailfish Bay Fishing Charters

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use, Privacy Policy and Guidelines. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue..