What business

Old Apr 10th 2013, 2:35 pm
  #1  
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Default What business

Hi all my wife (pinoy) and I are planning to move back to the Phillips in around 2-3 years, semi retirement , we are or will be in our late 40's and financially ok , we will be looking at buying or setting up a small business more to keep us busy rather than make a fortune.
We were looking at a franchise of Shakeys but things are dragging with them,
So what's our options ?

1 buy a franchise ? If so what's a good one
2 set up ( I am electrical engineer and mechanical engineer with a life time of experience , although I would love to set up a maintenance service or may be a building refurb business it would have to be to my high standards so that limits the market ?
3 ????? Don't know

P.s. Planning to settle around the batan area

Tony


Please guys any advice would be appreciated
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Old Apr 10th 2013, 6:08 pm
  #2  
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Default Re: What business

Originally Posted by hcmcman View Post
Hi all my wife (pinoy) and I are planning to move back to the Phillips in around 2-3 years, semi retirement , we are or will be in our late 40's and financially ok , we will be looking at buying or setting up a small business more to keep us busy rather than make a fortune.
We were looking at a franchise of Shakeys but things are dragging with them,
So what's our options ?

1 buy a franchise ? If so what's a good one
2 set up ( I am electrical engineer and mechanical engineer with a life time of experience , although I would love to set up a maintenance service or may be a building refurb business it would have to be to my high standards so that limits the market ?
3 ????? Don't know

P.s. Planning to settle around the batan area

Tony


Please guys any advice would be appreciated
The Shakey's franchise is probably making money so they are probably reluctant to sell. The Shakey's in Dinalupihan lasted about a year, two tops, and that's with no competition. The first rule of going into business in the Philippines is don't spend more than you can afford to lose. Friends of ours do quite well running a sari sari store, she works all day and he works all night. Unless you have that sort of dedication put your money in the bank and live off of the interest.
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Old Apr 11th 2013, 8:46 am
  #3  
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Default Re: What business

You have plenty of options especially if you are willing to work hard and adjust to the local way of doing business. Many foreigners cant and their businesses end up closing down.

The most popular franchise just now seems to be 7 Eleven. There have been quite a few opened up in our area in the last few years and they are all doing very well. Teenagers seem to love buying there even if it is more expensive.
The problem you may have with any franchise is finding a piece of land in a busy area.

Many will say 'think outside the box' when setting up a business here. I disagree with that theory. We have been running a successful business here for 14 years and we compete with 40 others shops selling the same product on one street!
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Old Apr 11th 2013, 8:56 am
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Default Re: What business

Tony, you may like to read this.

http://www.7-eleven.com.ph/franchise.php

I sometimes pop into the 7 Eleven near us to buy something and it is usually full of kids buying Slurpee's!
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Old Apr 11th 2013, 10:48 am
  #5  
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Default Re: What business

many thanks for the info guys i will look in to it, you are right about the location though , thats whats slowing things down with Shakeys we have the finance and are ready to press the button but its been over a year and we are no further forward ..... mmm plan B i think haha
we have lived in Asia for several years and understand the cultural difference and i know i will have a period of adjustment again (currently in OZ) but if i can not lower my standards of work it just not right in my field, do that and two things happen 1, people get hurt and 2 you leave feeling you have not done a good job for the customer.
am sure something will come up we are big believers in fate, and like you said we can always live on the interest haha

T
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