Table of Contents
New developments provide a new chapter for new home and property owners and new opportunities for first-time or expanding businesses.
A change in scenery often comes with new opportunities for growth and fulfillment. New real estate developments and mixed-use townships are such avenues, be it for growing families moving to a new home or professionals relocating to explore new career opportunities.
Making the most out of a new place is not limited to new homeowners. If you have ever considered establishing a new business in the Philippines this 2023, now may be the best time to do so, given that several new real estate developments and communities are rising, which are built-in markets that might be ideal for offering new products or services.
If you are still looking for good business ideas this 2023, the following are some which you can try in and around new developments or mixed-use townships.
Coin-operated or Self-service Laundry Center
Coin-operated laundry services are an ideal business near residential complexes such as condominiums or apartments since most residents are young professionals with little time to do laundry. At the same time, the limited space of some units may not allow for the placement of washing machines.
Start your business by having an initial two to three washing machines and a dryer, a ratio you should follow if you plan to expand. It is not labor intensive, since only around two staff members are needed to operate it efficiently. Because it is self-service, your rates are lower than that of other laundry centers, and you can also increase your revenue by selling detergent and fabric conditioner to customers who don’t bring their own.
Home Cleaning Services
Only a few households nowadays continue to hire household help due to the increased costs brought about by the Kasambahay Law. Household chores are now commonly distributed among family members, with heavier tasks like doing the laundry relegated to the weekends. Despite their best efforts, maintaining a clean home without needing household help is difficult for those constantly at work or school.
Their alternative is to turn to home cleaning service providers. Starting a professional cleaning service near a major residential area in Metro Manila is an excellent way to capture this potential market. Suppose you prefer a more hands-on approach to running the business. In that case, TESDA-accredited agencies are offering formal training in housekeeping, where the needed tools and cleaning materials can also be learned about and later sourced from a wholesaler.
Money Changer
Real estate developers often market their projects to overseas Filipino workers (OFWs), who have the financial capability to do an outright purchase of property. Combined with the presence of business process outsourcing (BPO) centers in the mixed-use properties, and the expatriates living nearby, you have a potential market of foreign currency users constantly looking for favorable exchange rates.
You have to meet the requirements of the Bangko Sentral ng Pilipinas (BSP), but knowing how to read currency movement and remain constantly updated with foreign exchange market trends is a good start. A money changer business in a new or upcoming mixed-use development in Metro Manila, especially in a CBD or near the airport, is worth considering, given it requires little commercial space.
Water Refilling Station
If you are living in or near a semi-developed residential area or at least know of neighborhood without a conveniently located water station, you have the opportunity to start one in the area. Although they only produce modest profits, water refilling stations continue to experience brisk business given the basic need for drinking water.
Take note that starting a water station business requires a significant amount of initial capital as equipment is quite expensive, and the satisfaction of business permits and other government requirements. There are numerous suppliers of water refilling equipment that can help you start your business, with you only comparing their prices and seeing which of them can meet your needs or budget.
Rice Retailer
Rice is a staple for Filipinos and demand for it will always be constant. Although available in supermarkets, most of the rice being sold there are pre-packed and more expensive. This is why most Filipinos still prefer to buy rice from the neighborhood rice dealer, which is a good business opportunity for you to consider.
The margins, however, might be modest due to the National Food Authority (NFA) and the Department of Trade and Industry (DTI) always monitor variances of standard retail prices. So again, like with a water refilling station, it is beneficial to be one of the first retailers or the only retailer in the area to ensure you serve many, if not all, of the customers in your locality.
Selling of Indigenous Products
One of the disadvantages of living in highly developed areas is that indigenous products are rare to find and often more expensive compared to those sourced from their origin. Selling indigenous products as a business is ideal if you have an established set of suppliers from various provinces, or happen to come from a locality that produces several specialties that are not commonly available in the area where you presently reside. Doing so will allow you to sell the products at more affordable prices than your competitors.
Whether its civet coffee from the Cordilleras or bangus (milkfish) from Pangasinan, the more unique your products are, the more likely that you will be the sole supplier or seller. This type of business can be flexible when it comes size of operation, where you can do it full-time by leasing commercial space, or do it part-time from your home, taking orders from neighbors and doing simple marketing on social media.
There are also other business ideas that are not mentioned here but can viable to start in new developments and mixed-use townships. Starting any business in these communities is possible given their diverse nature, and it is a matter of doing your homework in understanding the feasibility of a business in a particular area that will determine its success or failure.
Main image via Shutterstock
