Setting-up Your Own Business

Franchising businesses such as a food cart businesses became a very popular type of business today. However, budget can be a big problem if one lacks the necessary capital to accommodate its overhead expenses. This is the reason why business loans such as those offered by BPI became useful.

Setting up one’s own business can be tough, especially if one is lacking the necessary knowledge and skills on how to handle a business. However, because of the importance of businesses in today’s Philippine culture, there have been a number of new business opportunities rising up in the market. One popular example is franchising a food cart business.

Franchising businesses such as a food cart businesses became a very popular type of business today. Part of the reason why is because of its quick ROI (Return of Investment), low maintenance, as well as affordability in which any Filipino with enough budgets can easily franchise a food cart business.

Setting-up a Capital

Though it’s become easier and more convenient now to start one’s own business, particularly now that many cheaper food-cart franchise businesses had been put up in the market (going as low as 21,999 per food-cart franchise), there are still a number of problems regarding the budget to be used for the business. According to business experts in the Philippines, it’s important to prepare an overhead cost before planning on franchising a business.

 Other than the cost of setting up a franchised food-cart business, franchisees should also look at the other expenses involved in setting up this type of business. One is the cost of registering the business, because not all of these franchisers would manage their franchisees’ legal documents, such as their business permit, its location, BIR, and other important legal documents.

Another is the lease for the space to be used for setting up the franchised business. The cost of the location differs in terms of commerciality and foot traffic. If the location has low foot traffic, then the cost would be smaller.

However, for malls and shopping centers, the lease for the space is usually higher. This is the reason why it’s important to take note the many expenses that will be used in this business.

 However, other than just the support of franchisers, a number of loaning companies and agencies, as well as banks, had also supported many Filipinos in their plans for setting up their own business. This is by offering them Business loans Philippines.

A popular example of a bank that offers Business loans Philippines services is BPI. BPI’s Ka-Negosyo business plans and tools allow many Filipinos to start their business even if they are short in budget. With their Business loans Philippines services, Filipinos can rest easy that all overhead expenses will be taken care of, while giving them safe and competitive interest rates.