What business to start with 100k in The Philippines? That’s the question that we’re going to answer today. Please, make sure to read this whole entire blog post right here, and I promise you will not be wasting your time.
Before anything else, I just want to give you guys a little bit of information about me. Because you might be thinking if who am I, and can I be trusted with the information that I’m about to share with you.
My name is “Yhong Lacson”, I created and run this website right here (MY Personal Website). And for the past two years, I have been helping business owners and entrepreneurs not just here in the Philippines but also entrepreneurs from western countries.
I help them build their business websites, run their social media advertisements like Facebook Ads and some Search Engine Marketing like Google and Bing Ads.
I’m just sharing you guys about that cause you might start your own business after reading this whole entire thing right here and need my assistance. I can help you in case, for a very minimal amount of charge.
So what I’m going to do here, is basically just share you guys the ideas that I have been gathered from different experiences that I have helping those business owners that I have mentioned above.
I’m going to share you a business model that you can literally start with your 100k pesos capital, and for me, this is the most promising business model in this coming future.
The most promising business model that I’m talking about is E-commerce. Don’t be skeptical, let’s just go through this.
Ecommerce Business In The Philippines
Let’s just talk about what is an eCommerce first, because some of you might not even know what that is. E-commerce simply refers to any commercial transactions conducted online.
This means that whenever you buy and sell something using the Internet, you’re involved in eCommerce. Buying something from Lazada, that’s eCommerce. Selling something on a Facebook group, that’s eCommerce.
But Yhong, how can you call it the most promising business in this coming future?. Man! take a look at the screenshot of the data below from Statista. See this line from the image below ”market volume of US$1,394M by 2023” that’s a whole lot of money.
Another Proof, from one of the most popular eCommerce stores in the Philippines Lazada. See the image below? that’s the number of people that searches about Lazada Shopping every single month here in the Philippines.
And this data is just a direct search using a google search engine. And we all know that they have their own smartphone application that keeps popping up on Facebook. Can you imagine that?
The possibility that I’m trying to say here is that what if, a fraction of that 1M to 10M per month Lazada Shoppers would buy products from you? Let’s keep going.
Selling Products Online In The Philippines (eCommerce)
There are three ways that I actually know how you can start doing eCommerce or start selling products online here in the Philippines. One is through creating your own online shop using an eCommerce platforms like Shopify. Second is through joining big online stores like Lazada as a seller. Third would be the most popular among Filipino sellers, posting product listings on Facebook groups and marketplace.
I will not be sharing you every piece of information about the three options that I have mentioned above. What I would do is just choose the best one for you with your said amount starting capital to do eCommerce business and make a lot of profit out of it.
What Business To Start With 100K In The Philippines This Year 2020?
So here it is, a business that you can start with what you have right now, selling products with Lazada. This not a sponsored post from Lazada whatsoever, I just choose Lazada because it’s by far the best and most long term eCommerce business here in the Philippines which I’m going to explain later why.
I’m amazed by those successful entrepreneurs from the US doing Amazon FBA, like literally just selling products on Amazon and here it is a Filipino version Platform “Lazada Seller Program”. That’s what motivates me to create this blog post right here on how we can do it here in the Philippines.
Actually, your 100k pesos capital is more than enough to start selling products on Lazada. Yes, of course, it will also depend on what niche or type of product you are going to sell. I’m gonna cover all the steps on how to get started selling on Lazada.
Why Choose Lazada?
Here’s the top reason why selling on Lazada is the best option to get started doing eCommerce business.
- The best thing about Lazada is that you no longer need to worry about your marketing side. You do not need to spend a whole bunch of money on advertisements and promotions. Lazada will do everything they can do to drive potential customers to their website and app where your product is listed. And that’s what you’re going to leverage.
- Lazada is an established brand. If you know “Jack Ma” the richest man in China, he actually owns Lazada they bought it from the original founder. That means you know longer need to create a name so that customers will trust you.
- Lazada has its own kinda like an academy inside the seller’s account dashboard, where they teach everything on how to become successful as their seller. Like optimizing your product listings etc. So you don’t have to worry about how you can do it.
Steps On How To Start Selling On Lazada
Here are the steps you need to follow to get started selling on Lazada. Just ask me in the comment section below if have some questions about these steps.
Step One: Create an account for Lazada Seller Center website (through clicking here). Get through the process, and familiarize what’s inside the account.
Step Two: Learn the skills you need to be a successful seller, read some blogposts from the Lazada blog, watch video tutorials, and learn the skills of observing what product is on-trend. Lazada provides all the tools and pieces of training you need to be successful.
Step 3. When you finally have that product idea or the niche you choose, the next step would be finding the right product supplier. I suggest you try some local wholesale supplier or if you want the best, you can import products from Chinese suppliers.
Alibaba and Aliexpress are the best websites that I know where you can connect long term product suppliers from China. The only difference between these two websites is that with Alibaba you need to buy a bulk amount of products. Aliexpress on the other hand, you can start buying pieces to pieces.
When you finally see and found the product you wanted to sell from the above website that I have mentioned, don’t forget to negotiate the price. Tell them you need a long term supplier.
Step Four: Finally, launch your very own eCommerce business. Keep learning, do research and follow their given system and teachings on how to become a successful Lazada seller.
Fulfilled By Lazada Program
There is this also program from Lazada called “Fulfilled By Lazada“. For me, this is the best option for selling products on Lazada, but you have to make sure that your product really sells.
The only thing you need to do with this option is just to find a good product, a product that really sells. And then just ship that out to Lazada warehouses and every time someone orders it from Lazada website or app, they will fulfill the order on your behalf.
Here are the complete details about it [ just click here ] Fulfilled By Lazada.
I think that’s all I have for guys today and Goodluck…