The perfect business idea pops into your mind within seconds.
And, the next thing you know: you are all over the place.
Indeed, the idea of starting a business is exciting but overwhelming too. There is so much to do than what you can think about now.
Let’s say you are good enough to have random business ideas coming into your head.
But how about the others? Brainstorming is never easy. So, we have this article for you!
Kickstart your dream into reality by discovering the best small business idea that fits your ideals, goals, and budget without going through the hassle.
Check out this comprehensive list of brilliant small business ideas that can help you start your entrepreneurial journey.
Moreover, learn the following topics exclusively in this article:
Table of Contents
- Reason for Doing Business this 2023
- How to future-proof your business?
- The Entrepreneur’s Checklist
- 30 Small Business Ideas You Can Start Now
- Doing Business and COVID-19
Alright! Let’s start reading!
Reason for Doing Business this 2023
You may ask yourself if it is wise to start a business in 2023.
The COVID-19 effects are still obvious, and though restrictions started to ease slowly, they still give everyone anxiety.
However, it is noteworthy that significant research and reports in 2022 showed a positive outlook in the business industry. Such a projection can be a stepping stone to kickstarting your dream business this year.
If you are wondering where all these are coming from, check this business forecasting for 2023.
How to future-proof your business?
At times, your uncertainties can surely overpower you.
But, you can overcome this if you learn how to future-proof your business.
By future-proofing, you make sure that the business remains valuable in the long run.
There is no room for you to think it will go obsolete one day.
So, how can you future-proof your business?
Here are four proven strategies.
Create room for innovation
Predicting the future is impossible, but we can get close to it.
You should not stop learning.
At one point in time, you need to innovate and look for another way to entice your customers.
In other words, you should step up the game and beat your competitors.
Follow the trends in developed countries
If there is one keyword that you should not forget; it is the word “trend.”
Stay updated with all the latest trends in most developed countries but do not imitate them entirely.
You have to tailor-fit it according to your business’ needs.
Predict future demands today
Customers cannot always tell you what they want.
As an entrepreneur, you have to anticipate it.
So, it requires not only innovation but also your imagination and experience in the industry.
For one, the main thing you need to do is to do market research and benchmarking continually.
You may not need the data this time, but one day, you’ll surely need those, so keep them while you can.
Rethink your past strategies
If your past strategies did not work, move on.
It is the right thing to do, but at one point in time, you will realize that the failure you had can be your driving force to do better.
So, instead of forgetting about it entirely, why don’t you use it as an inspiration to do better?
Improve those past techniques or modify them completely. It is up to you.
The Entrepreneur’s Checklist
As entrepreneurs, you create your destiny.
You need to prepare and equip yourself with favorable qualities and traits to stay in the industry longer.
Here is an 8-point checklist to help you confirm that you are an entrepreneur.
- You are confident.
- You are competitive.
- You are workaholic.
- You are focused.
- You are independent and self-motivated.
- You are a leader.
- You innovate.
- You accept failures.
What do you think? Do you have all these qualities?
If yes, then that is great! You are ready to call yourself an entrepreneur.
30 Best Small Business Ideas in the Philippines (2023)
Now, let us talk about the business ideas you can try.
It is grouped based on the available industries in the market today with visible popularity and conversions, despite the recent unfavorable events.
Let’s begin with the general industries as picked by your editors in no particular order.
1. Street Food
Filipinos love food!
After all, who can beat our classic fish ball stands and refreshment stands, right?
That is why starting your street food business is a wise choice. With a small capital on hand, you can begin this excellent business without any doubt.
For a more appealing approach, why don’t you give it a small tweak by having crazy offers like street-food on your doorstep?
People will surely buy fantastic offers like this, especially now that the pandemic is not yet eradicated.
2. Digital Marketing Services
Almost everything today is going digital - from people to businesses.
However, not all entrepreneurs have what it takes to become a digital marketer.
This is where you step-in - someone who has working knowledge of the digital marketing sphere.
Share what you know with others by starting your digital marketing agency.
Moreover, highlight why it matters, especially to businesses.
As a provider, you can sell your expertise in search engine optimization (SEO), social media management, email, and content marketing to businesses or entrepreneurs.
Find clients to work with through freelancing sites such as Upwork, Onlinejobs.ph, and social media platforms such as Facebook and LinkedIn.
3. Vending Machine
If you’re looking for a business with minimal supervision, this one is the right choice.
All you need is to secure the capital, buy the machine, place it in an area that attracts customers, and voila! Your vending machine business is now ready.
You just have to ensure that you do the regular machines’ maintenance and that restocking is always done on time (especially for food vending machines).
4. 3D Printing Service
Business owners always look for ways to showcase their products.
Years ago, the idea of products on printed materials should suffice, but now, 3D printers have proved their worth in the industry, making it a viable business if you have the right product idea.
Hence, you can try offering this kind of service to produce souvenirs and other personalized items.
5. Home and Office Furniture Rental
Some businesses want to save costs.
Hence, instead of acquiring all types of furniture, they opt to rent.
This is now a viable niche market for those looking into leasing their products instead of selling them.
So, how do you do it? Mostly, it is contact-based, depending on the clients’ needs.
Why rent furniture?
It is like renting apartment houses.
People who stay in the places they visit for a longer time tend to choose to rent furniture because it makes them feel more comfortable.
Simultaneously, it saves money and effort since there is no need to bring with them furniture should they decide to go someplace else.
The same concept applies to start-up companies, for example.
Instead of buying furniture for rented office space, renting furniture on a term basis is more budget-friendly.
It cut down start-up costs without worrying about having an empty office space.
6. Smart Home Services
Have you ever wondered how you can turn off your lights just by clapping your hands?
Well, that’s not magic as it seems like in movies.
It is actually possible because of the so-called “Internet of Things” or IoT.
The term refers to the network of connected devices equipped with unique identifiers so the individual device connected can communicate with each other.
IoT is also responsible for developing smart homes and is why it is now possible to turn on and off lights and other appliances or devices using either voice or gesture commands.
Hence, you should seriously consider an exciting business idea, especially if you know how IoT works and other principles related to it.
7. Modern Jeepney Franchise
Certainly, jeepneys always have a special place in Filipinos hearts.
Then, COVID happened.
With the new government regulations, the traditional jeepneys are likely to be not plying our roads anytime soon.
It is a sad reality but has lead to another business opportunity, which is franchising modern jeepneys.
This franchise business will allow you to operate a fleet of new jeepneys approved by the Department of Transportation (DOTr).
It is an enticing venture to try that can also help displaced drivers soon.
8. Buy and Sell
Doing buy and sell is another excellent business opportunity to consider.
As you know, it is a proven and tested business model that covers almost every possible item you can imagine.
From gadgets, clothes, food, real estate, and others, you can easily pull off this business if you learn the craft of how to buy at lower prices and selling it with a profit margin.
9. Cellphone Load Retail
Almost everyone has mobile phones.
Hence, starting a cellphone load retail business is a viable option to consider, especially if you are in an area with not many retailers.
It is feasible because you need only small capital, but you earn big.
10. Plant Selling Business
Do you have a garden? Well, it is time that you earn some cash out of your plants!
The pandemic has turned most of us into “plantitos” and “plantitas” and has become a booming business since then.
This business idea is feasible if you love planting and investing in some good quality plant species.
You do not need a massive amount of capital for this, and there is no losing - there are a bunch of plantitos and titas who need you.
11. Sari-Sari Store
It is an old-time classic.
A sari-sari store will always remain a great business idea.
The Filipino “convenience store” is always a go-to place to grab our emergency or daily needs.
Hence, starting this business tends to succeed wherever you are. We tend to buy things retail due to economic reasons and ease-of-access.
12. Collectibles Trading
Collectibles trading is more of like a hobby than a business.
However, it is not really a big deal, as long as you have a community that shares the same likes.
Such a group of people is looking to swap, buy, or sell various items ranging from old paper bills and coins, bottles, and other things.
So, as a collector, you must have extensive knowledge of which items sell at higher prices.
13. Sell Homemade Products
Do you have a secret recipe that creates delicious food?
If yes, take it as an opportunity to start your homemade product business.
This business only requires a small capital investment and word-of-mouth marketing.
Create a buzz by letting your relatives and friends taste your food. The rest becomes history.
With this kind of business, you can express yourself better and create a personal branding you can use later to expand the business, perhaps through franchising and other means.
Food and Beverage
14. Baking Business
Here’s another business idea that can start as your hobby.
If you love baking, then, folks, try a baking business.
Your local bakeshops may be there, but not all of them can cater to the increasing demand of customers looking for bakeshops that can make customized cakes and other baked goods.
Hence, make this an opportunity to use your skills. You are hitting two birds with one stone - doing what you love and earning money simultaneously.
15. Rice Retailing Business
Rice is a staple Filipino food.
Therefore, it only makes sense to start your “bigasan” business by buying sacks of rice and selling them by the kilo.
Again, we are retail fanatics, so there are always customers who will look for your business.
16. Water Refilling Station Business
Without clean and potable water, we can’t survive.
Hence, it only makes sense to start a water refilling station business in your area.
Do not worry about your competitors. The important thing is there will always be customers with this type of business.
It is just a matter of marketing and the quality of service you provide.
17. Food Cart and Palamig Business
Snacks and meriendas have also become part of the Filipino culture.
So, why not sell one?
Through food cart franchising, you now have plenty of options to start your food cart business.
This business also has a small capital investment needed, including terms with the franchisor that benefits you.
Furthermore, with this kind of business, you all have flexible options available - from the location and payment terms. You just need to discuss everything with the franchisor.
18. Food Delivery Business
Online food delivery services like Foodpanda and Grab make it easy for us to order food online.
If you can start a business that is in line with this one, it can be a great additional option for all the Filipinos who rely on delivery services.
Moreover, you can actually launch your food delivery service, especially if you are offering food products. It is always an innovative choice on your part as an entrepreneur.
19. Computer Repair Services
After the pandemic wreck havoc in the country, the demand for computer repair services increases.
It makes sense because everybody is shifting into work from setup and online classes.
Given this, not everyone can afford to get a brand new computer or laptop. Sometimes, they are looking for ways to turn old devices into a useful one.
That is why repair service businesses are needed.
Again, this is an opportunity that you should address, especially if you have the skills and knowledge on how to repair gadgets.
20. Personal Shopper
Now, this business idea seems to sound a little lucrative but is actually one of the most in-demand businesses these days.
With the pandemic’s mobility restrictions, some people opt to hire personal shoppers to do grocery shopping and other kinds of errands.
If you have the means like a car or a motorcycle, try offering this kind of service in your neighborhood.
21. House and Pet Sitting
Perhaps, this one is an odd business idea.
However, there is a demand for this kind of service.
If you live alone but need someone to look for your house and pets, the only feasible option is hiring a house and pet sitter.
You can start this kind of business by looking for people who want to do this job and then offering your services locally first before expanding to neighboring cities.
22. Car Wash Business
Dirty cars are never appealing.
Every car owner knows that keeping the car clean is essential. However, not everyone has the time to do this.
Hence, the car wash business. It is a viable business idea these days, especially if you offer home service options to customers.
For girls, it is normal to have long, straight hair. But for men? It is not always the case.
Starting a barbershop business is an excellent idea, to begin with, if your area has not many barbers available.
Despite the competition, it is still considered a great business opportunity.
24. Online Selling or Reseller (Dropshipping)
Being an online seller means selling products through online platforms like your website, Facebook store, or personal Instagram.
On the other hand, being a reseller can mean two things:
Having an actual inventory of the products that you promote online through the use of online platforms
You serve as a dropshipping salesperson or the middleman who sets up a virtual shop online. From here, customers can place and process orders and payments. Once the order is confirmed, you will forward the orders to the source and deliver them to the buyers.
The bottom line is it is like a consignment business. It is just you mainly handle marketing and promotion of the products plus running the website all at once.
Do you have the confidence to talk in front of the camera?
If yes, then vlogging can be your next business idea.
Vlogging used to be purely recreational.
But now, you can use it to make money online.
The process is simple: (1) set up your account either on YouTube, Facebook, and Instagram, (2) decide on your gear set up and shoot, then (3) edit and upload your video.
In the beginning, it is not easy to do because, of course, you need to grow your audience and followers so you can start monetizing your channel.
For example, YouTube requires a certain number of followers and viewership before you can monetize your account.
Moreover, your income always depends on the number of advertisers that place ads on your videos. So, it matters to have a considerable number of followers that genuinely consume your content.
At the same time, if you reach influencer status, you now have the authority to demand specific fees for other companies that want to work with you.
26. Cleaning Service
Estimated Capital: PHP 1M
Estimated Income: PHP 250k-350k per month
Consider beginning a cleaning business if you are okay with performing the nasty work that others can't. The financial return can be enormous.
Starting a cleaning service is simple, and you can get started with little money. Sometimes all you need is a scrub and some cleaning detergent.
That being stated, here are some simple cleaning businesses you can start:
House cleaning services: Do you know any busy, single experts in your area? Why not approach them and offer to clean their homes in exchange for a small fee? You'd be shocked at how quickly this company can expand.
Cleaning a vehicle: Some vehicle owners may need more time to clean their automobiles. Why not lend a hand to them? You may even go further by approaching businesses and offering to clean their private or public fleet of cars.
Carpet cleaning: Do you have carpet cleaning equipment or know where to get it? Consider creating a commercial or residential carpet cleaning business.
Graffiti removal: Do you know how to remove graffiti from walls? A graffiti removal service could be profitable.
27. Pet Grooming
If you enjoy having pets around and grooming them doesn’t seem like much work, consider starting a pet grooming business.
To stay flexible, consider offering home services. In this arrangement, you visit the homes of pet owners, groom their pets, and get paid for your assistance.
28. Property Management
If you have prior experience in the real estate industry or are skilled at developing real estate management software, you may find success as a property manager.
The problem is that many property owners do not have the time to handle their properties all throughout the town. They need someone to rely on to collect rent, maintain broken items, and evict problematic renters. If you've previously worked in the real estate industry or are simply strong at management, you could find success as a property manager, especially with the right property management software.
So, if you're up for the task, go for it.
29. Ice Cream Business
In the heat of summer, who doesn't enjoy a cold cup of ice cream? Or even anytime of the day! Why not use this business idea and start building it this year.
For one, you can choose to franchise an existing ice cream business or start your brand by making homemade ice cream of your choice.
30. Alcohol and Liquor Store
Alcohol is a fairly safe bet. It is in high demand all year, and sales do not fall during recessions. Online alcohol sales are also increasing, so you can expand your eCommerce business.
However, opening a regular retail business is easier than operating a liquor store. Because you'll be designated a high-risk merchant, you won't be able to work with all payment processors, though you'll still need one—after all, customers enjoy their credit cards. You'll also need to ensure that you have processes to check IDs and report taxes properly.
Doing Business and COVID-19
The pandemic is not yet over, but compared to the past two years, the half quarter of 2022 and the beginning of 2023 are better.
Everything is still part of the new normal, yet the best thing now is that businesses have started to open up and be back on track.
With more establishments open and restrictions easing up, realizing your business should be easy.
So gear up now and start your business. Prepare your capital, the products or services to sell and offer, and manpower, or if you want to franchise, then now is the best time.
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Disclaimer: Franchise Market Philippines strives to provide relevant and accurate information in all its articles. However, some information in our articles may differ or might be outdated from what you can see or read directly from the establishments' or businesses’ websites. Please get in touch with us directly for any discrepancies.