A few of my friends have been playing with the idea of maybe setting up a business.
They're first time businessmen and don't have a lot of experience on setting one up so I suggested that it might be easier if they just try franchising one and rack up valuable experience while earning money at the same time. They originally balked at the idea because the first thing that came into their minds was that the franchise fee is going to be astronomical.
But it's not necessarily always the case.
True, franchising one of the big business brands out there would probably range anywhere from Php 500,000.00 to several millions but there are also affordable choices out there.
Checking out the Philippine Franchise Information site, I found that there are several options that ranges from lows of Php 10,000.00 to highs of Php 30,000.00. These would be the sushi balls, siomai stand, and the likes type of business. While they will not earn you millions (maybe not immediately anyway) they usually guarantee a steady stream of income provided it's located in an are with a generous amount of foot traffic.
Even the franchise that costs about Php 30,000.00 won't hurt so much on the wallet if you got a few partners coming in with you. If that fails you can always avail of a cash advance to get you started.
The returns are definitely worth more than if your money is just wasting away in a bank somewhere.