7 Profitable Business Ideas for OFW Families in 2022

1.   Sari-sari Store

Filipinos love friendly sari-sari stores. They're convenient, save your adobos when you run out of soy sauce, and even have enough change for large bills.

You can set up a sari-sari store at almost any risk appetite. You won't need much money at first as long as you study the market around the area where your store will stand. You may do this by observing the nearby sari-sari or convenience store stocks to see which products sell and which ones are slower moving.

This business is home-based, so rent won't take up much of your expenses. With that said, you may need to remodel a part of your home to serve as the façade of your sari-sari store.

2.   Online store

The pandemic has exacerbated the demand for online shopping among Filipino youth. The future generation of spenders will likely rely on online shopping, so it's best to hop on this trend and build a lasting business right now.

The first step in opening an online store is picking your niche. Will you sell little trinkets? Books? How about dresses? You'll also need to brush up on your digital marketing skills to promote your store. You can also partner up with someone with eCommerce and social media marketing knowledge, so think about investing in these areas.

3.   Online food business

Like online shopping, many Filipinos also discovered the wonders of food deliveries due to the pandemic. In 2020, Southeast Asia's food delivery sector boomed to a 183% growth rate. In the Philippines alone, the figure totaled $1.2 billion in gross merchandise, thanks to food delivery apps.

Much like starting an online store, you'll have to start with defining your niche before starting your online food business. Are you into cooking or more into baked goods? Will you focus on classic lutong bahay or explore foreign cuisines? For beginners, you should look into food you can cook in your kitchen before investing in professional-grade equipment.

4.   Water refilling station

Potable water is a necessity that every Filipino must have access to. But in some areas in the Philippines, potable water may not be as available as in more economically developed cities.

The market for a water refilling station is enormous and—when done correctly—may provide great potential as a sustainable income stream. However, it would help if you were mindful of the saturation of competitors in your target area. Opening a water refilling station where you face many similar operations may result in fewer customers and lesser profits.

5.   Real state.

Echoing real estate investor and philanthropist Louis Glickman: "The best investment on Earth is earth."

Like water, people will never stop needing shelter or spaces to operate their businesses. And the best thing about real estate is that land prices rarely decrease. Whether you are purchasing real estate for rental income or holding it for the long term to sell, real estate will likely let your money work for you.  

6.   Carpooling

Ride-hailing services have been growing in popularity in the past several years. This trend is due to a greater demand for alternative transportation services, which can save the public from the hassles of daily commutes.

If you own an eligible vehicle, you can register it to carpooling and car share companies in the Philippines so your car can be an asset, not a liability.

7.   Franchising

The best thing about franchising is that you don't need to start from scratch. You can pick a trusted brand and cater it to a locality that needs it. You can franchise trusted fast food chains, gyms, retail stores, and more! The initial investment may be costly depending on the niche, but if the brand is popular enough, you may get a return on your investment in no time.