Reader Mail #9: Quick Answers To Your Business Questions

Updated: July 29, 2018

It’s now time for another Reader Mail. And below are business questions sent by my readers and I would like to share them now with everyone.

For the purpose of brevity, parts of the original question, as well as the responses I gave, have been edited. I’ve also excluded the names of the senders for their privacy.

Lastly, do remember that what I gave below are advice based from my experience as an entrepreneur and the things I’ve learned about business.

So, let’s now go to the questions.

I have 40,000 pesos savings, I just want to ask what small business would suit for this amount

There’s actually a lot. Narda Capuyan started her business with almost nothing as capital. I’ve also read other business success stories and most of them started with very little as well.

Just ask yourself, what kind of business would you love to have? And then see if you can start it with 40k. If not, then calculate how much you need and save some more.

I also suggest that you read these two articles of mine – Good Business Ventures and Opportunities and How To Evaluate Your Business Ideas.

Now for a group of questions with similar concerns:

I am planning to put up a photo finishing/developing center here in our town in Iloilo without however getting a franchise. Can you help me regarding training and seminar on it?

I’m planning to put up a foodcart taho business but I don’t know how to make it and how much it will cost. Please help.

I’ve been looking for a TESDA training center for bookkeeping or associate in accountancy. Is there any school near Pasig City or any school or training center that are free or affordable?

Hi! I’m looking for training center for suka toyo patis catsup making.

Please advise about schedule of trainings & seminars about packaging and wrapping of gift items, food, novelty items, wine and delicacies.

I want to put up a small business that don’t need a store. I’m an OFW and I only have a small capital. Do you have a training for shirt printing or any training for a specific business?

Hi everyone. You can start by calling the organizations and institutions in this list of Philippine Business and Livelihood Training Centers

For those who are not in Manila, you can also call them and ask if they have provincial schedules. I also suggest searching the internet for tutorials, you might find what you exactly need. Like this YouTube video on How To Make Ketchup:

Now, for another question:

I’m planning to put up a Dimsum stall without franchising. How will I select a good place for my food cart? Do I have to do the pedestrian counting like what I see some people are doing along the streets?

How many headcounts in an hour or minutes will be enough to ensure that I have a good pedestrian traffic within my cart site?

Pedestrian counting will immensely help – that’s why people do it. How many headcounts is enough? That depends on your break even analysis.

If you need to sell 50 orders a day to break even, then assuming that only 5% of the foot traffic will buy, then you need to have at least 1000 pedestrians a day.

However, more than just counting the foot traffic, you should also study the type of people that’s in the area. Are they really potential customers?

What I can suggest is to really do market research.

Lastly, here’s 8 tips on how to find the right location for your business.

Here’s an interesting business question:

I’m an OFW with an internet shop. Because of the competition, I’d like to add a related business that I can incorporate to the internet cafe for additional income. What can you suggest?

An eload business is always a good addition. You can also start selling office and school supplies.

Moreover, you can make your internet shop a business center as well. Add services like photocopying, typing jobs, lamination, book binding, CD burning and desktop publishing like making business cards.

Lastly, here’s an article that could also help: How To Find Your Edge In A Saturated Market

My blog has a lot of articles about business, you just have to take some time to look around.

I would like to ask what are the requirements in putting up an internet cafe. I’m planning together with two of my friends. What are the government requirements such as SSS, tax permits, etc.?

Two articles you should read:
A Guide to Choosing The Right Business Structure
How To Register Your Business In The Philippines

And the last business question for this post:

I’m trying to apply to have a business in the new mall in Tacloban City which is Robinsons mall. I’m here in Canada and can’t do anything for now except to start the letter of intent and a business plan which they required it to me. Please help.

All you need to know for writing a simple letter of intent is in this article: How To Write A Business Letter of Intent. Malls usually don’t require a long LOI, just a one page statement is enough.

However, for the business plan, you can read this one: How To Write a Business Plan. I have also included there a business plan template which you can download.

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Photo Credit: lecates