Philippines Insider" The Ultimate Philippines Travel Guide for Tourists and Expats

Author Topic: Looking for some insight  (Read 2611 times)

rcrawford

  • Guest
Looking for some insight
« on: May 30, 2008, 11:33:51 AM »
There seems to be alot of experience within the group on this subject. My wife has given me positives and negatives and my mother in-law has nothing but negative about starting a business on the islands, for that matter she doesn\'t have much of anything good to say about PI. There\'s a long story behind that.
I do have contacts through my wife\'s relatives which are mostly all in or around Pampanga. Her uncle is a priest which visit\'s the states regularly through the rotary club in which he and my mother in-law are close friends with a congressman and which is close friends with the president of PI. Whether thats helpful or not I don\'t know? I had read that a bar is not the business to open? and restaurant\'s are/or can be breakers as well depending. I look at any business as I would here in the states, first you need the supply & demand, location and† reliable work force.
I\'m not looking to get rich but would like to be profitable to pay the bills and spending money, any thoughts out there?

Appreciate your input

Rick

  • Guest
Re: Looking for some insight
« Reply #1 on: May 30, 2008, 01:24:56 PM »
Once you learn the Pinoy ways, investments can make money. Then, depending on location, rentals works for us also.

We bought a 2 BR Pinoy house, remodeled (major), built a two story 2 BR apartment building on the back of it in 2006, all across the street from us. Then built a studio apartment this year above the shop in our back yard.

Right now, and as reported, high food prices for the next 10 years, growing rice might be something to look at or invest in or veggies for the market? We are doing a bit with the veggies for our own use and neighbors.
B-Ray Bacong, Negros Oriental

  • Guest
Re: Looking for some insight
« Reply #2 on: May 30, 2008, 02:03:06 PM »
Hi Rick,

you are going to get a lot of replies to starting a business here, and most of them are going to be negative. It is possible to start a business here, but you are going to have to work hard for little money. The other problem is that if you do come up with a unique money making idea then the very enterprising Filipinas are going to copy it and drastically reduce your profits. My advice is to have at least some income from abroad perhaps in the form of a pension.

Colin

rcrawford

  • Guest
Re: Looking for some insight
« Reply #3 on: May 30, 2008, 11:18:35 PM »
Thank you for your insight, I have pondered on many idea\'s and as you have stated, it\'s to hard to plan without first hande knowledge of the area and what in demand. If I make the move, I will have to continue my work here I the states and travel back & forth, I am totally relying on this idea to become reality through having my wife\'s family members run this business with my daily oversight via onsite & through monitoring system\'s when away. I may be nieve with this idea, but time will tell and I will not invest until I have covered all my basis.

Thanks, I\'m sure I will have more questions as I research more. I need out advise on this.

Rick