Every Filipino loves to eat and that can be a bit of an understatement. The country’s food business is growing exponentially. However, not all business ventures can be successful. Find out which food businesses can actually be a hit.
The food industry is prevalent in the country because it’s profitable. As a result, you can see a lot of food industry businesses in the Philippines such as bakery equipment suppliers, bulk food suppliers, and down to the smallest food stalls and pop-up stores. However, there are still a lot of food businesses that go under due to the lack of demand. That said, you must find out which foods are most sought after by our fellow countrymen.
Things you need to know
Before you go into a food business venture, there are some facts that you need to know, which are:
- Setting up a business can be a long and tedious process
- Competition can be high
- Not all business ideas are profitable
- You will need a lot of planning and research
Even with obstacles that may come in your way, a food business venture is worth pursuing if there are potential and demand.
Top food businesses in the Philippines
Bread is a staple carb source in the country, next to rice. In almost everybarangay, there’s bound to be at least one bakery. Since it’s a relatively stable business, it doesn’t come as a surprise that many people want to have one of their own. If you’ve always dreamed of having a bakery, start doing your research. Canvass in bakery equipment suppliers and create a business plan. On average, you would need about P70,000-100,000 investment, depending on the equipment and size of the store.
2. Siomai Stand
Siomai is a favorite food by many Pinoys. It can be eaten on its own as a snack or with rice. Most importantly, siomai is cheap, averaging at about P35 for four pieces. If you want your own siomai stand, you can buy a franchise from a well-known company or create one of your own. The rent is relatively cheaper than others since a siomai stand won’t take up much space. The best places to set up a siomai stand are near schools and workplaces.
3. French Fries
The great thing about a french fry business is that you can set up a retail stand or you can do it in front of your house. The ingredients for flavored french fries is relatively cheap when bought in bulk. You can start with as low as P500 in investment if you already have the tools.
4. Home-cooked Meals
If you live in a subdivision or a residential area, you’ll find that having a”karinderya”business can be profitable. Since not everyone has the time to cook their own meals every day, they sometimes opt to buyfood from an outside source. You can start a home-cooked meal business with as low as P1,000 for a day’s worth of meals you can sell. If you’re a good cook, this is going to be easy for you.
There are dozens of food business ventures that you can get into and these are just some of the best ones. To truly be an entrepreneur, research your product thoroughly and make sure you make it the best that it can be.