Opening a store in Philippines?
Posted: January 1st, 2011, 11:55 am
Back in the 90's it was always my dream to run/own my own used record/book/video/multi-media store. But I never had quite enough funds to start it or good enough credit to get the necessary loans.
But now that I'm going to RP, I'm considering the possibility again. From what I've read, RP is a bad place in general to try to start a biz (other than online) as most are poor and making a decent Western-standard living from your biz would be very difficult. But damn it, I still love the idea. And with the $ I'm bringing with me, I might just have enough to rent a small shop space and start it up. (although I think under RP laws, I'd have to have my biz filed under my future Filipina wife's name or have a Filipino business partner, which of course presents some risks).
Cebu (with the advantage of a large population of wealthy expats as potential customers) would be my prefered location.
My start-up budget would be around $6000 USD max. Since most everything is so much cheaper in RP, would that be enough to get the store up and running (register, shelves, counter, and at least 500 pieces of used inventory + first 6 months rent)?
If no other options are available, I'll go ahead and do the online English teaching for income. But I'd much prefer to be able to make a living without having my head buried in a computer screen all day.
But now that I'm going to RP, I'm considering the possibility again. From what I've read, RP is a bad place in general to try to start a biz (other than online) as most are poor and making a decent Western-standard living from your biz would be very difficult. But damn it, I still love the idea. And with the $ I'm bringing with me, I might just have enough to rent a small shop space and start it up. (although I think under RP laws, I'd have to have my biz filed under my future Filipina wife's name or have a Filipino business partner, which of course presents some risks).
Cebu (with the advantage of a large population of wealthy expats as potential customers) would be my prefered location.
My start-up budget would be around $6000 USD max. Since most everything is so much cheaper in RP, would that be enough to get the store up and running (register, shelves, counter, and at least 500 pieces of used inventory + first 6 months rent)?
If no other options are available, I'll go ahead and do the online English teaching for income. But I'd much prefer to be able to make a living without having my head buried in a computer screen all day.