Top 8 Business Opportunities In 2021
Top 8 Business Opportunities In 2021
Everyone knows that a business doesn’t flourish overnight. It requires hard work, thorough planning, and perfect execution. Additionally, having a partner also means that you have to make sure your ideas, research and plans are in line with your interests.
While the idea of starting a business seems overwhelming, all it takes is a little push. This article is the perfect read for those who wish to jumpstart their 2021 with a business that will surely make the entrepreneurial journey worthwhile.
#1: Franchising
When you decide to franchise a local restaurant, water station, or any related company, a contract will be given along with the privileges and rights of the brand. Projected returns are approximately 15% and earning is quite easy with this setup. It all depends on how much you want to invest as well as choosing the right company to work and invest with during the long run.
The beauty of diving into the world of franchising is that you have fewer things to worry about such as the establishment of the brand, training support, endorsements, launching assistance, location, marketing, and investment return. The aforementioned elements are already taken care of by the brand since they already have a firm foundation in the market.
#2: Food Carts
Food carts are synonymous with the classic Filipino favorite: the “tuhog tuhog” also known as street food consisting of fish balls, kikiam, kwek-kwek, and many more. While the food cart doesn’t have to consist of the classic fishball cart, this type of business allows you to practice and hone your creativity and flexibility.
You can sell anything you want, be it burgers, fries, dumplings, noodles– the possibilities are endless! Additionally, locals see food carts as a cheap alternative to help them get by every day. Usually, employees and students are the main populations you’ll be entertaining with this business opportunity, the key is to find a great location and you’re good to go.
#3: Buy And Sell
The world of buy and sell is a vast but secure one compared to other business ideas. It is proven and tested to help you earn whatever product you wish to put out in the market. A common misconception among young entrepreneurs is that this buy and sell setup only works wonders for individuals who want to sell vehicles and other automobiles. However, you can apply this setup with any product you want such as gadgets, food, real estate, and even clothes.
The key to starting requires not only a keen eye for opportunities but also the willingness to go out and start establishing yourself and your business. Talk to people, post online, let your friends mention it to others, and let word of mouth do its job.
#4: Going Green
It’s no secret that the plant business suddenly flourished this year, and surely it’ll continue until the next few years. If you’ve been an avid gardener even before the hype, then you can start earning effortlessly! Aside from having the basic knowledge you need to educate your future customers, you know everything like the back of your hand.
It’s up to you if you want to make your home your main location, or if you want to rent an area that’s more open to the public (which lets people find your business easier, too!). Overall, your passion for plants is what will take you places.
#5: Dive Into The Airbnb World
Assuming that operations go back to normal by 2021 and if you have an extra place that you rarely use, you can transform it into a cozy place that people can rent during their travels. In 2008, property rental applications suddenly became the next big thing because aside from the cheaper rates, it gives travelers the comfort and beauty of staying in a home that they prefer.
In the AirBnB Philippines set up, many have joined the trend and let tourists rent their rest houses. However, some took it up a notch and posted their condominiums and apartments for rent as well. Owners who have a fully furnished unit were advantageous among the others, but business is great for all nonetheless.
#6: Try Being An Insurance Agent
Insurance is one of the many opportunities that don’t go out of trend in the market. Aside from being allowed to work for a multinational company, you get to work at your own pace and time. Having a hustle where you are not bound by a strict schedule gives you the upper hand, after all. Additionally, insurance agents earn approximately 15 to 30 percent in commissions from the deals and plans they secure.
Deciding to become an insurance agent is a win-win situation for you and your client because they get to have a lifetime’s worth of services from your company while you also get to earn and get incentives on the side.
#7: Peer-to-Peer Funding
Do you have a full time job that won’t allow you to have space in your schedule for another side hustle? Here’s a great opportunity for you. If you have a few thousand pesos extra, you can begin generating passive income through Peer-to-Peer Funding.
As this opportunity is a fully online platform, you can begin your income journey wherever you might be. You will earn from the interest incurred from your capital, which will be used to fund loans for the needs of other people. Now, you don’t have to check on a business all the time, you have the freedom to check on your business every once in a while, and enjoy your earnings once the end of the term comes.
#8: Rice Retail
Rice is a staple food, especially in the Philippines. It’s also one of the primary sources of income for locals in provinces. To keep it simple, rice is everything for Filipinos, and choosing to make your own retail store is always a good idea.
Before you can start, you must first secure the proper documents such as permits and registration from the National Food Authority. Then, you will have to thoroughly consider a great location. A great example is placing the store in main roads or areas that are sure to have busy streets like local markets or near establishments.
However, take note that rice has a lifespan of approximately 3 months, depending on its type. You should also keep in mind that an effective inventory of your rice products is key to a successful business.
How Can You Start?
While there are numerous business ideas here and there, you still need to have sufficient funds to start and not everyone has that. Fear not, because loans are the primary solution for starting and maintaining your business.
Also, it’s one of the safest and most secure decisions you can ever make. A business loan helps you meet capital requirements while also expanding the business simultaneously. Additionally, the cash flow is continuous, meaning, even in times of low sales and investment return, you don’t have to worry about running out of funds.
Make Your Entrepreneurial Dreams Come True With Blend.ph
Starting a business is never easy, but with the right tools, funds, and knowledge, you’re sure to keep a straight path and survive in the market. Also, lessen your worries by deciding to get a business loan before trying any of the above-mentioned opportunities. It saves you time, effort, and extra expenses.
Here at Blend.ph, there are two loan options you can make use of for your business plan.
First, you can apply for a Personal Loan, which can allow you to get PHP 50,000 to 2 million pesos, depending on your credit assessment.
On the other hand, you can check out Blend.ph’s Franchise Loan, wherein you can get a similar credit line, only this time, with a Blend.ph partner company.
Learn more about Blend.ph loan products by visiting Blend.ph/borrower now!