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Begin a business on a budget (Part 3)

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No matter how much capital you have, there’s a business to be had. Is one hundred thousand pesos enough to start a car-wash business? Yes. Is P200,000 good for your own clothing and accessories shop? Check. How about a bakery for 250 grand? Yup. Your own restaurant for P400,000? Uh-huh. Will P450,000 be enough to open a grocery store? Oh yes.

 

[related|post]You can begin a business on a budget—and it doesn’t have to be a food cart or a fly-by-night business franchise (although food carts are great business concepts in their own right). Apart from ideas, each person always needs two resources available to start a business: time and money.

 

For the love of baking

Sometimes an opportunity just presents itself, waiting to be taken by the first person to see its potential. Such was the case with Manuel Manaligod, who went home feeling downtrodden one day but spotted a vacant commercial space that drew a twinkle to his eye.

 

“It was perfect for a bakery,” Manaligod tells Entrepreneur Philippines, noting it was near a tricycle terminal leading to their village in Moonwalk, Parañaque City. “It was a strategic location, and I just had to take a chance on it.”

 

By March 2010, the 20-year-old had gathered P250,000 in starting capital from loans and his personal savings, enough to put up Makoy’s Bakeshop—the union of his nickname, his love for baking, and the requirements of his Entrepreneurial Management course at the University of Asia and the Pacific.

 

To get things started, Manaligod bought a brand-new, locally-made oven worth P30,000. He paid P40,000 to rent the 120 square meter commercial space, and shelled out P15,000 more to renovate it fit for a bakery. Another P15,000 went to creating signs for his business, and P20,000 was spent on permits and licenses.

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