10 Business Trends in the Philippines 2020

Change is the only constant in this world. Cliché but true. Humans have to keep up with all the changes in order to survive. This goes the same way for businesses. Entrepreneurs have to also adapt to changes most especially with their businesses to continuously thrive in the industry. If you plan to become a business owner in 2020, you might want to consider one of the trendy business that you can start here in the country.

Here are the 10 business trends in the Philippine industry  today.

1. Food Cart Business

Filipinos love food and they love to eat. There’s no argument on that. Food cart business never go out of style. It is affordable and easy to market. There are variety of food to choose from—french fries, siomai, fruit shakes, nachos, waffles, and others. This business offers wide array of advantages in terms of generating sales. One is the convenience to set up the cart anywhere you want. You can assemble it near the malls, schools, parks, or places where there are a lot of people. If you are someone new in the business industry, it is safe to try first on franchising a food cart. It’s a great training ground to learn the science of food industry and business. 

2. Eco-friendly Products

More and more entrepreneurs are starting to dominate in the business world producing eco-friendly products as more people are switching and supporting those products. Driven by the passion and mission to save the environment, more organic and sustainable products are being produced and well-received by clients. Among the popular organic products are watches, toothbrushes and bikes made from bamboos, reusable baby diapers, bags made from discarded juice containers and many more. Consumers are now more aware of how other products in the market affect the Earth, so they are now more than willing to purchase green brands to support and promote sustainability. Such business venture has also created job opportunities to the locals because of the business owners hire the former to produce the products.

3. Healthcare Business

Health is wealth. It surely is when you start your own healthcare business. It is a rewarding business venture most especially that it caters a wide range of customers. Pharmacy is just one of the many choices to choose from when entering into the healthcare business. Although it can’t be easy because of the established rules and regulations governing pharmaceuticals, it can surely provide you with more advantages and benefits. Franchising a pharmacy is an easier option when you want to have a pharmaceutical business since the people recognize already the brand name and there is an existing customer base and vendor relations. A few of the renowned pharmacies in the country that are available for franchising are The Generics Pharmacy, Farmacia ni Dok, and Generika Drugstore.


4. Beauty and Wellness Business

With the onset of social media, people are more concerned with their physical appearances. Beauty salon business has been a staple in the industry because a lot of Filipinos go to such establishments to pamper and relieve themselves from stress. They want to improve their physical appearances and feel good about themselves. Another thing, a study revealed that Filipinos are very particular in taking care about their hairstyles. The most common salon found in the Philippines are hair beauty salon, barbershop salon, skincare salon, nails salon and facial salon and spa salon. Despite the tough competition in this type of business industry, more entrepreneurs are interested to put up their own salon due its high demand in the market. 

5. Water Refilling Station

Water keeps everyone alive. It is the most important resource that humans need to survive. However, due to the presence of pollutants, water becomes polluted and undrinkable. Thus, water refilling station business has become in-demand and a profitable business in the country. Unlike other products offered in the market, water will always be high in demand which makes the business relatively easier to handle. You can start your own brand of water refilling station, but the stress and risk of losing can overwhelm you. You can opt out for franchising the established brands like Aquabest, Bluewaters and Crystal Clear. These brands have long been in the industry and have a proven track record of being successful in this field. Inclusive in your franchise fee should you decide to franchise one of the three are the necessary equipment installation, staff training, and marketing. 

6. Bill Payment Centers

Bills take the biggest chunk on anyone’s salary. Electricity, phone, internet, water, cable connections, credit cards and insurance are just a few common bills that every Filipino household maintain. While we live through convenience, payment centers have greatly helped in saving more time and making payments faster and more accessible. For aspiring entrepreneurs, such service-centered business can provide a constant stream of profit because it pays on a per transaction basis. Good location with many households and solid clientele can ensure the return of investment in not longer than two years. Bayad Center is a pioneer bill payment center in the Philippines owned by Manila Electric Company (Meralco). It is known as a leading player in the global outsourced payment collection, e-loading, money remittance and application acceptance. 

7. Laundry Shop

Most people have increasing workload. As a result, they leave some household chores like laundry to be undone. Laundry shops are lifesavers for most people living in condominiums and apartments. This type of business venture is largely dependent on the operational expenses. The cost of rent, supplies, utilities, wages, equipment, permits and licenses have to be thought out and prepared well. You can have a coin-operated or self-service laundry business. WeClean is a fast growing one-stop, all-in commercial and industrial laundry solutions. Should you decide to franchise WeClean, you will get three units of industrial type stacked washers and dryers. Inclusive of the package are the use of brand name, staff trainings and end-to-end business operation knowledge transfer. There are other packages available that you can check out. 

8. Cold Beverage Stand

Milk tea craze is all over the town. There has been a number of known brands when it comes to milk tea and it has experienced profitable gains in the recent years. It has seen an unexpected boom in 2018 as more people are falling in love with the sweet and refreshing yet affordable cold drink. The franchising industry has expanded its offerings to those interested in owning a milk tea business. Checkout list of Milk tea franchises available in the market

9. Car Wash Business

Cars have never been this accessible and affordable. There are easy installment plans available where people can choose from. With this, road trips have become a favorite getaway bonding for most people who want to stay away for a moment from the real life. More cars are filling the roads, thus the increasing demand of carwash services in the country. Nice Day! Car Wash is open for franchising for such an affordable price. For less than a million pesos, you can already own a franchise of the said car wash brand. Inclusive of it are the constructions costs, franchise fee, training and equipment that will be used when you start. They have been in the industry for almost two decades now, proving their craft in their chosen business industry.

10. Education

Parents only want what’s best for their child/children. Those working parents or those who are always away could only spend ample time with their child/children. In order to compensate and help their son/s and/or daughter/s in school, they enroll the latter in supplementary classes or education. Kumon is a known after-class tutoring center that offers math and reading programs. Originated in Japan, Kumon has long been in the industry for more than sixty years. They require the franchisees to complete their first semester of Kumon’s Instructor Development Program in order to be granted for a franchise. One may need to undergo rigorous trainings to ensure that the service brand Kumon offers is evident and will satisfy the parents’ needs for their child/children. 

Conclusion

The trends in business are always changing, however, if observed carefully, those businesses that thrive for a long time are those that offer products and services that cater the basic necessities of the people. The business ideas listed may be trendy, but it doesn’t guarantee that once you start with it, you will be successful immediately. Careful planning, researching, identifying the target market and complying of the legal requirements when starting a business are still important factors to consider.

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