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Why P10,000 is 'magic number' to start a business

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Jessica Fenol, ABS-CBN News

<p>MANILA - Aspiring entrepreneurs don&#x27;t need to dig too deep into their pockets for their first foray as they can get a head start with direct selling and franchising for as low as P10,000.</p><p>&quot;We believe that P10,000 is a magic number,&quot; said Rio Ilao, whose Kushi skin care gives stay-at-home mothers and sari-sari store owners the chance to earn extra.</p><p>&quot;It&#x27;s not so high for an initial capital, but at the same time, it&#x27;s also not so low that people will just let go of it without any hard work or commitment,&quot; Ilao told ABS CBN News on the sidelines of a recent franchising expo.</p><p>With the right product and the right location, new entrepreneurs can get started with the following ideas that fit most budgets:</p><div><strong>1. Kushi Skincare (Capital: P10,000)</strong></div><div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2017/news/10/03/1.jpg"/></figure></div><p>A re-seller only needs P10,000 capital to start selling Kushi-branded whitening facial creams, toners, lotions, sunblock and body scrubs.</p><p>Re-sellers with the minimum capital requirement can buy Kushi products at a 25-percent discount. Those who buy up to P50,000 get a 40-percent discount while those who purchase up to P100,000 get 50 percent off.</p><p>&quot;The beauty business is a very low-risk business because it has such a wide appeal -- who doesn&#x27;t want to become beautiful and presentable, right?&quot; Ilao said. </p><p>Re-sellers also don&#x27;t have additional expenses of bigger enterprises such as rent, she said.</p><p>&quot;Oftentimes, looking for a good location is a challenge when it comes to a typical business. But with us, that is not a problem. You can be a Kushi re-seller and try your hand in the beauty business, right away from the comfort of your own home,&quot; Ilao added. </p><div><strong>2. Graco&#x27;s Shawarma (Capital P98,000 - P150,000) </strong></div><div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2017/news/10/03/2.jpg"/></figure></div><p>Entrepreneurs with access to bigger capital can opt for food carts that cater to busy working types and commuters who want their meals to go.</p><p>The husband-and-wife team of Edwin and Grace Soriano have been in the food cart business for 18 years but they only recently ventured into franchising.</p><p>&quot;Marami akong franchisee na may second franchise na, kasi madali siya i-operate, hindi siya sobrang mahal,&quot; Grace Soriano told ABS CBN News.</p><p>(I have many franchisees who have second franchises because it is easy to operate and not too expensive.)</p><p>The P150,000 package, which will fit in a shopping mall, includes the cart, equipment, initial inventory worth P10,000, staff training and uniforms.</p><p>Since they opened for franchising in 2013, they now have more than 60 franchises around the country with a promise to turn a profit in 4 to 6 months and no annual royalty fee.</p><p>&quot;I have franchisee na mga busy, doctor, working, time management lang talaga puwede kang kumita. Yung mga seryoso mag-business, nakikinig sa mga payo namin sila ang mga nagiging successful,&quot; Soriano added.</p><p>(I have franchisees who are busy, doctors, working. It really takes time management to make a profit. Those who are serious in their business listen to our advice on how to be successful.)</p><div><strong>3. EGGSPERT (Capital - P188,000)</strong></div><div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2017/news/10/03/3.jpg"/></figure></div><p>Eggspert capitalizes on Filipinos&#x27; love for street food. The business-owned by former overseas worker Crisanta Prado offers classics such as fish balls, kikiam, kwek kwek, balut and penoy in a more hygienic and appetizing food cart set-up. </p><p>For P188,000 anyone can purchase their mall franchise package, which includes a food cart, marketing materials, heavy duty fryers, freezer, glass display rack, initial product inventory worth P5,000 and staff uniforms. </p><div><strong>4. M-Gas (Capital - P600,000)</strong></div><div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2017/news/10/03/4.jpg"/></figure></div><p>M-gas is the franchising wing of the popular brand Island Gas. Sisters Ellen Brillantes and Erika Monastrial relaunched the brand for franchising with the intent of encouraging young entrepreneurs. </p><p>&quot;We want them to know that you can also be in this type of business with the right support,&quot; sales &amp; marketing director Erika Monastrial told ABS CBN News.</p><p>&quot;So through M-gas you can set-up your own business but you have the support of a reputable brand like Island Gas. We&#x27;ve been in the industry for 40 years, we know the business,&quot; she said.</p><p>At P600,000, the all-in package includes 50 tanks of gas as initial inventory, a motorcycle for delivery, space improvements, furniture, fixtures, signage and marketing materials, office supplies, a point of sale or POS system, CCTV, staff uniforms and grand opening budget assistance. </p><p>&quot;We wanted to standardize everything para pag binenta namin complete na siya (when we sell, it&#x27;s complete). All you have to do is operate it,&quot; CEO Ellen Brillantes told ABS CBN News.</p><div><strong><em>(Editor&#x27;s note: ABS-CBN News is not endorsing the brands mentioned in this article, which is meant to give aspiring entrepreneurs ideas on how much they need to start a business.)</em></strong></div>

<p>Aspiring entrepreneurs don't need to dig too deep into their pockets for their first foray as they can get a head start with direct selling and franchising for as low as P10,000.</p>

Aspiring entrepreneurs don't need to dig too deep into their pockets for their first foray as they can get a head start with direct selling and franchising for as low as P10,000.

Why P10,000 is 'magic number' to start a business

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Why P10,000 is 'magic number' to start a business

Jessica Fenol,

ABS-CBN News

Published October 03, 2017 06:26 AM PHT

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Updated October 03, 2017 06:44 AM PHT

Read More:

franchise

entrepreneur

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franchise expo

food cart

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