In a high-population country like the Philippines, going into the packaged food business makes good business sense. You can start small almost anywhere even without renting store space, yet make a decent income and have a good chance of growing your business into something bigger.
This is because no matter how high the prices of goods may rise and how low the purchasing power of the peso may sink, people will continue to eat. Filipinos may scrimp on fashion, fads, entertainment, or gadgets, but rare are those who will scrimp on food and drinks and on the fellowship they enjoy while having them.
Even as the domestic market for packaged food is dominated by big players, small business can ride on this wave of preference for healthy food and for food priced lower than those offered by big companies. Among the affordably priced food products in the market are the so-called comfort food, which previously were prepared at home from scratch.
With the onset of busy lifestyles, however, consumers are now turning to comfort food that could be had fast and conveniently. Thus, as Filipinos become more health-conscious, affordable food products that cater to this healthy and fast-paced lifestyle can expect to see more growth.
Learn from these eight entrepreneurs who have made good in their respective small processed food businesses. Each of their businesses were started with not more than P20,000.
They went into food and beverage lines that they or their families were already familiar with, developed brands from what used to be generic products or commodities, and carved their own market niches in their localities--some even venturing outside their local markets and going into exports.