As you said, most of the guys who say don’t do, it have never opened a business in their own country. Being the top salesman in your company, yet working for someone else who supplied all the infrastructure for you, whether it be selling art, cars or anything else does not qualify you to run a business top to bottom let alone a start up. Here in the United States, I know many people who have tried it with the service industry as an example. They themselves have excellent skill sets in doing the job, but not in managing people who do the job, pricing the job, marketing, the job, selling the job, etc. No, where does the Peter principle hold more true than in being an entrepreneur. Having one’s first experience with entrepreneurship happen in a foreign country is more than likely going to lead to disaster. Doing it in your home country, inadequately prepared, is also super risky.
One reason why a sari-sari store fail is sometimes not because of the small profit. I my parents case, it was not in a strategic location. It was in the province. It happened that we only had a few neighbors and there is another store that was near schools. That one flourished but ours never did. It was the exact opposite when we lived in Novaliches though. We may have profited a lot from there but we need to leave as traffic has always been bad in the area (it gotten worst now!) and the house has been robbed multiple times when we are away. I did start my own business though I am doing it at the same time as a hobby and I have a 9-5 job. The only bad side of my business is that I am selling handmade crochet and sewn products and you cannot get more sales or customers if you are to sell it at a higher price - compared to crocheters outside of the Philippines who can sell a crochet coasters at about 100 -200 pesos each coaster (about $2-3) but here, you have to sell them at about 200 pesos per 5 pieces. Some people would also want to commision a crochet dress but would pay you less than the total price you have paid for the yarns!
Actually, I'm quite delusional. "IF" I have enough money when I retire and move to the Philippines, I would like to start up a manufacturing business to export the product. This is to employ the locals and improve their lives and to bring in foreign money into the Philippines to help improve the economy.
I'm glad to hear you are delusional. Those who are delusional, those who are dreamers, the risk takers, those who have the courage to try... These have the chance of succeeding because there is zero chance if you don't try. Of course, research and plan so you have the best chance of suceeding. Also look into if there are any current restrictions for foreigners for manufacturing types of businesses, or if you can own the business 100% or a lesser amount because foreigners can't own all businesses 100% in the Philippines. If i can help with anything or you need legal advice let me know if you need a referral. .
The Philippines doesn't have a lot of people that are skilled in manufacturing, they're skilled in other areas but manufacturing isn't their strong suit.
Where ever you go either you are an employee or an employer all of these boil down to the word "business". Everything has its own risk mainly when starting up, but the thing is, if you love what you do and put your heart on it, no one can stop you to grow with your "business".. and just add up a touch of luck, then everything will be all yours without fail. Break a leg...🎉
They have a lot of potential. It's important to find places with (1) lots of foot traffic that can (2) afford high enough prices to have reasonable profit margins
if you're crazy, then I am crazy as well. I am In the beginning stages of my businesses there now. hopefully I can get to a point where I need you're services. thank you, I think I needed to hear that lol
You can also fail in own country. If you have not adapted to the local culture and mentality, if u have no network ... the chances are big to fail. Already within a country exist different culrures. Most important: communication skills. Learn from people who already went through all mistakes. No need to repeat same errors. In a low wage country like Philippines its always more tough to have some good profit as the buying power is much lower than in Europe. But that's the fun with entrepreneurs... u need to find the USP.
Thank you for this video. I want to start a business in La union. My name is Michael and I’m from the USA. I also saw info in regards to consultation and other services. Hopefully we can talk soon.
Thanks for the video, I'm planning on moving to the Philippines in the near future. My plan is to open up a bar in a big city or just outside the city. Everybody in the Philippines loves a nice ice cold San Miguel lager on a hot day, I think my future business will be fine 😂😅
I found the barrier of entry to be much cheaper in PH than in a place like ie; US, For example i always wanted to setup a small takeout joint here in NV but the upfront cost is a minimum of 10k and that isn't including equipment/ingredients etc. Then there is the bureaucracy of it all, I was in the process of making it happen here but the permits/inspections were 2-3 months away, Meaning you were paying rent on a place for 2-3mo without being able to operate out of it. Ghost kitchens are an option but will often only allow baking or restrict you to operate only 3-5hrs a day, A food truck is an option but it gets hot AF here and i'm not willing to do it....Sooo next best option is to go abroad.
I understand. The barriers to entry are much higher in the US than the Philippines. There's also more people with more money once you get going there, though the right concept can do very well here.
Hello my Taiwanese friend. Lots of options here. Please send me email or Facebook message if you want to discuss more options hello@johnsmulo.com or John Smulo on Facebook
It's a great strategy. Amazon is like any other business, except you are dependant on Amazon. You need the right product to sell to the right group of people for the right price. Make sure you find a reliable supplier and work hard at perfecting your listing through words, photos, and video. Use Amazon ads, and get good reviews.
I never been in the US, I can imagine that there may be similar stores as sari sari (not sure how to type the name), at least where I live buying a store like that is like a trap, most likely will fail, first of all due to how many stores there are nearby, plus all the online stores... people need to think bigger! ^^
People also need to think "different". If there are 10 sari sari stores selling the same thing, be the one that is selling something completely different that people need.
I love your comments. I ran a business in the states for 24 years. I shut it down at 5 years due to divorce but continued under another name. I believe the tax structure here sucks but can be "avoided" to some degree, that is my only concern. My wife has property where we will build, pay rent to her, I'm buying the equipment she will rent from me so we can avoid much of the taxes. A restaurant, bar, dance hall. Not an easy business but it will be built for the rich and catered to the Wanna be rich. It will also be affordable to the lesser rich. Just not as often. The business plan is key and must be adhered to. I'm looking forward to more of your advice.
i have lots of contacts in the philippines and plan to visit there , but if i end up staying extended what can i do to make a lil cash? im very savvy and quick learner but is there anything i can do there to make a lil money?
I have a business I started in Thailand 26yrs ago & still own it. Don't even need to be there even better. I travelled to Manilla thinking of starting an export business. The razor wire on house fences/ loud horns blasting/ security outside 7/11s put me off. I was told theres a saying: In Thailand they will take your business with a smile. In the Philippines they shoot you first then take your business. I gave it a miss & don't really like the country compared to Thailand....... just my opinion..
Thanks for sharing your experience with a business in Thailand. I wouldn't base all of your experience in the Philippines with business on that though. There is no razor wires outside fences in Davao City or Cebu City where I've lived and those are big cities--maybe rare exceptions with that, but not for the most part. Thailand has challenges with business too with employees not always being able to take constructive criticism, and the whole team might leave with a moments notice according to business owners I've spoken there. I've definitely not come across any foreigner business people who have been harmed here.
Maybe you saw only one house with a razor wire outside their fence. Not all houses have razor wires. Some people put razor wires to prevent animals or thief intruding into their property. So what's wrong with that if you are trying to protect your home? Security are all over every business establishments in the Philippines, that's normal, same thing to protect your business from getting robbed but that does not mean that people around are robbers though, i think every country has good and bad people right?
my wife and I planning to move to the Philippines in 3 years,, i mannage a small construction company in Toronto Canada,, i want to do the same in the Philippines,, We have a modest investment captial,, any input will be greatly appreciated
Hi Jim, that used to be the case years ago. But since 2019 there has been a new type of corp in the Philippines called One Person Corporation (OPC) that allows foreigners to own 100% of most types of businesses. For example, my BPO here is a OPC that I own 100%.
@@JohnSmuloTV That sounds great but owning land outright to build a commercial building and owning it all outright with out a partner I hear is a no go .Is owning land different to owning a business in the Phillipines the same or different ?
@@jimdiamond8246 Owning land, even under a corporation, isn't possible for foreigners unfortunately. Though you can own a condo or commercial space as long as you don't own the land under it. For example, I own a condo here, but the company who owns the development owns the land itself.
@@JohnSmuloTV Then all types of commercial business is not possible with out partners if a building is needed to run that business .some areas are still not possible to do business in the Philippines I see .
@@JohnSmuloTV First time hearing about the OPC but it sounds great. I've owned three businesses in the US and it never was easy. Each time I said "Never Again" but soon the bug bit me and I started missing owning my own business, jumped back into another venture knowing full well what I was getting myself into. There's a kind of satisfaction that comes from being a business owner but plenty of them close their doors because the owner simply got burned out, even if the biz was profitable. Great insights John, it's obvious you know a lot. Best of luck, carpe diem !!
![Businesses that Always Fail? 7 Businesses with Shockingly High Failure Rates [Backed by Data]](http://i.ytimg.com/vi/WTDYuRVZDbo/mqdefault.jpg)
![Businesses that Always Fail? 7 Businesses with Shockingly High Failure Rates [Backed by Data]](/img/tr.png)
I would like to know the legal process of how to start a company in Philippines
Nice explanation John...Congrats on your business getting better every day...God bless!
Thank you my friend. Hope life is treating you great.
As you said, most of the guys who say don’t do, it have never opened a business in their own country. Being the top salesman in your company, yet working for someone else who supplied all the infrastructure for you, whether it be selling art, cars or anything else does not qualify you to run a business top to bottom let alone a start up. Here in the United States, I know many people who have tried it with the service industry as an example. They themselves have excellent skill sets in doing the job, but not in managing people who do the job, pricing the job, marketing, the job, selling the job, etc. No, where does the Peter principle hold more true than in being an entrepreneur. Having one’s first experience with entrepreneurship happen in a foreign country is more than likely going to lead to disaster. Doing it in your home country, inadequately prepared, is also super risky.
One reason why a sari-sari store fail is sometimes not because of the small profit. I my parents case, it was not in a strategic location. It was in the province. It happened that we only had a few neighbors and there is another store that was near schools. That one flourished but ours never did.
It was the exact opposite when we lived in Novaliches though. We may have profited a lot from there but we need to leave as traffic has always been bad in the area (it gotten worst now!) and the house has been robbed multiple times when we are away.
I did start my own business though I am doing it at the same time as a hobby and I have a 9-5 job. The only bad side of my business is that I am selling handmade crochet and sewn products and you cannot get more sales or customers if you are to sell it at a higher price - compared to crocheters outside of the Philippines who can sell a crochet coasters at about 100 -200 pesos each coaster (about $2-3) but here, you have to sell them at about 200 pesos per 5 pieces. Some people would also want to commision a crochet dress but would pay you less than the total price you have paid for the yarns!
Hi Mary, I really understand the struggles here. You may want to look into seeing if you can sell crochet items on Etsy or other platforms overseas.
Every business is risky, in every country period. But with right people it is easier
Yes I agree completely
Actually, I'm quite delusional. "IF" I have enough money when I retire and move to the Philippines, I would like to start up a manufacturing business to export the product. This is to employ the locals and improve their lives and to bring in foreign money into the Philippines to help improve the economy.
I'm glad to hear you are delusional. Those who are delusional, those who are dreamers, the risk takers, those who have the courage to try... These have the chance of succeeding because there is zero chance if you don't try. Of course, research and plan so you have the best chance of suceeding. Also look into if there are any current restrictions for foreigners for manufacturing types of businesses, or if you can own the business 100% or a lesser amount because foreigners can't own all businesses 100% in the Philippines. If i can help with anything or you need legal advice let me know if you need a referral. .
The Philippines doesn't have a lot of people that are skilled in manufacturing, they're skilled in other areas but manufacturing isn't their strong suit.
@@jonathanjohnson7384 They can be taught. 😉
Where ever you go either you are an employee or an employer all of these boil down to the word "business". Everything has its own risk mainly when starting up, but the thing is, if you love what you do and put your heart on it, no one can stop you to grow with your "business".. and just add up a touch of luck, then everything will be all yours without fail. Break a leg...🎉
True Braun. Thank you for your support.
Thanks for the rant, Much appreciated!
Thanks Paul! Appreciate your support.
I appreciate your videos and the time and effort you spent on your productions.
Thank you
Thank you very much!
Perfect timing thanks
Glad to hear that! Thinking of starting a business here?
Excellent perspective. Whiners need not apply. But unfortunately, whiners are impossible to avoid. Thank you for sharing.
Thanks Byron
A fast food business seems like it would do great in the Philippines.
They have a lot of potential. It's important to find places with (1) lots of foot traffic that can (2) afford high enough prices to have reasonable profit margins
Thanks John
My pleasure. Thanks for watching.
🏝️Just liked and subscribed,I saw you on Marks channel.Good Vlog.Regards,to you and Mark.,God Bless,Al from NYC🗽🇺🇸🌆👍
Really appreciate your support. God bless you too
if you're crazy, then I am crazy as well. I am In the beginning stages of my businesses there now. hopefully I can get to a point where I need you're services. thank you, I think I needed to hear that lol
Haha, crazy people always are grateful to meet fellow crazy people. Happy to help any time.
Great video good insight
Thank you very much
You can also fail in own country. If you have not adapted to the local culture and mentality, if u have no network ... the chances are big to fail. Already within a country exist different culrures. Most important: communication skills. Learn from people who already went through all mistakes. No need to repeat same errors. In a low wage country like Philippines its always more tough to have some good profit as the buying power is much lower than in Europe. But that's the fun with entrepreneurs... u need to find the USP.
Appreciate your thoughts.
Thank you for this video. I want to start a business in La union. My name is Michael and I’m from the USA. I also saw info in regards to consultation and other services. Hopefully we can talk soon.
Hi Michael, very happy to talk anytime
Thanks for the video, I'm planning on moving to the Philippines in the near future. My plan is to open up a bar in a big city or just outside the city. Everybody in the Philippines loves a nice ice cold San Miguel lager on a hot day, I think my future business will be fine 😂😅
For sure a lot of demand for that here lol. Just include some Red Horse for me!
@@JohnSmuloTV Heck yeah! I’ll keep some cold ones on ice for you! 👍👍
@@Mobius762x51 Awesome!
Great video!
Great vid
Thank you very much!
I found the barrier of entry to be much cheaper in PH than in a place like ie; US, For example i always wanted to setup a small takeout joint here in NV but the upfront cost is a minimum of 10k and that isn't including equipment/ingredients etc. Then there is the bureaucracy of it all, I was in the process of making it happen here but the permits/inspections were 2-3 months away, Meaning you were paying rent on a place for 2-3mo without being able to operate out of it. Ghost kitchens are an option but will often only allow baking or restrict you to operate only 3-5hrs a day, A food truck is an option but it gets hot AF here and i'm not willing to do it....Sooo next best option is to go abroad.
I understand. The barriers to entry are much higher in the US than the Philippines. There's also more people with more money once you get going there, though the right concept can do very well here.
@@JohnSmuloTV Hey John, How can i get a consultation with you? The URL in the description doesn't work.
@@crimeunlimited Send me an email at hello@johnsmulo.com
Most businesses in PI are copycats one start a resto bar then everyone starts a resto bar.
True, needs to be more innovation and creating thinking.
As Taiwanese what should i start my business in the Philippines?
Hello my Taiwanese friend. Lots of options here. Please send me email or Facebook message if you want to discuss more options hello@johnsmulo.com or John Smulo on Facebook
I couldn't even open a bank account in the Philippines any advice to make $ online ?
I want to make money in the USA and spend it in the Philippines... for several reasons. Any advice on an online Amazon store?
It's a great strategy. Amazon is like any other business, except you are dependant on Amazon. You need the right product to sell to the right group of people for the right price. Make sure you find a reliable supplier and work hard at perfecting your listing through words, photos, and video. Use Amazon ads, and get good reviews.
The greatest challenge for tourism business for national residents is the application process who even the government don't understand lol😂
I never been in the US, I can imagine that there may be similar stores as sari sari (not sure how to type the name), at least where I live buying a store like that is like a trap, most likely will fail, first of all due to how many stores there are nearby, plus all the online stores... people need to think bigger! ^^
People also need to think "different". If there are 10 sari sari stores selling the same thing, be the one that is selling something completely different that people need.
@@JohnSmuloTV totally true! if you have something that others don't have more chances there! :)
@@gela77 Yes!
Yes it is called Bodegas only difference in PI utang will kill the business.
@@manuelr1405 bodegas is like Spanish, I forgot the meaning, wutang? X)
I love your comments. I ran a business in the states for 24 years. I shut it down at 5 years due to divorce but continued under another name.
I believe the tax structure here sucks but can be "avoided" to some degree, that is my only concern. My wife has property where we will build, pay rent to her, I'm buying the equipment she will rent from me so we can avoid much of the taxes. A restaurant, bar, dance hall. Not an easy business but it will be built for the rich and catered to the Wanna be rich. It will also be affordable to the lesser rich. Just not as often. The business plan is key and must be adhered to. I'm looking forward to more of your advice.
Thanks for sharing more of your story and plans. I'm always happy to meet fellow expats looking to start a business here.
i have lots of contacts in the philippines and plan to visit there , but if i end up staying extended what can i do to make a lil cash? im very savvy and quick learner but is there anything i can do there to make a lil money?
Really depends on skills, etc. Happy to chat off of here sometime more about it
I would guess it’s super easy to start a business in the Philippines. Does have near the fees or red tape, Cheap, labor, rent etc.
I have a business I started in Thailand 26yrs ago & still own it. Don't even need to be there even better. I travelled to Manilla thinking of starting an export business. The razor wire on house fences/ loud horns blasting/ security outside 7/11s put me off. I was told theres a saying: In Thailand they will take your business with a smile. In the Philippines they shoot you first then take your business. I gave it a miss & don't really like the country compared to Thailand....... just my opinion..
Thanks for sharing your experience with a business in Thailand. I wouldn't base all of your experience in the Philippines with business on that though. There is no razor wires outside fences in Davao City or Cebu City where I've lived and those are big cities--maybe rare exceptions with that, but not for the most part. Thailand has challenges with business too with employees not always being able to take constructive criticism, and the whole team might leave with a moments notice according to business owners I've spoken there. I've definitely not come across any foreigner business people who have been harmed here.
Maybe you saw only one house with a razor wire outside their fence. Not all houses have razor wires. Some people put razor wires to prevent animals or thief intruding into their property. So what's wrong with that if you are trying to protect your home? Security are all over every business establishments in the Philippines, that's normal, same thing to protect your business from getting robbed but that does not mean that people around are robbers though, i think every country has good and bad people right?
my wife and I planning to move to the Philippines in 3 years,, i mannage a small construction company in Toronto Canada,, i want to do the same in the Philippines,, We have a modest investment captial,, any input will be greatly appreciated
Hahaha true can’t blame you😂😂
Can I work with you sir? Hihi
Maybe :) What would you like to do? Send a resume to my Facebook or hello@johnsmulo.com
Philippines is not a honest people to do buisness here
Have you had a business in the Philippines?
It's pointless to start a business in the Philippines because you can not own or run it yourself .I would never start a business with a partner.
Hi Jim, that used to be the case years ago. But since 2019 there has been a new type of corp in the Philippines called One Person Corporation (OPC) that allows foreigners to own 100% of most types of businesses. For example, my BPO here is a OPC that I own 100%.
@@JohnSmuloTV That sounds great but owning land outright to build a commercial building and owning it all outright with out a partner I hear is a no go .Is owning land different to owning a business in the Phillipines the same or different ?
@@jimdiamond8246 Owning land, even under a corporation, isn't possible for foreigners unfortunately. Though you can own a condo or commercial space as long as you don't own the land under it. For example, I own a condo here, but the company who owns the development owns the land itself.
@@JohnSmuloTV Then all types of commercial business is not possible with out partners if a building is needed to run that business .some areas are still not possible to do business in the Philippines I see .
@@JohnSmuloTV First time hearing about the OPC but it sounds great. I've owned three businesses in the US and it never was easy. Each time I said "Never Again" but soon the bug bit me and I started missing owning my own business, jumped back into another venture knowing full well what I was getting myself into. There's a kind of satisfaction that comes from being a business owner but plenty of them close their doors because the owner simply got burned out, even if the biz was profitable. Great insights John, it's obvious you know a lot. Best of luck, carpe diem !!