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Oct 23, 2021
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'How To Start Food Cart Business In The Philippines Today we are looking into setting up a food cart business by going over some frequently asked questions. Question 1. Should You Open Up Your Own Food Cart Business In The Philippines Or should you Franchise One? Most people tend to start a food cart business via franchising. An initial start-up ranges from as low as 30,000 pesos up to 200,000 pesos depending on the food cart type. But one question remains, What about the terms of service? Some companies will have monthly fees, while other food cart businesses will have a royalty fee. Some even will have a term that means they will receive a small percentage on each item sold. However, many small food cart businesses in the Philippines have flexible terms, which is excellent news. The more growth and success a franchising business has, typically the more terms will apply. On the other hand, if you start your own food cart business, then the terms are more towards the suppliers. Suppliers could include the location or suppliers of products. As an example, let us say that we are looking to start a burger cart business. You have found a supplier for your meat. Do they have a minimum order which is a term that’s important to know before you start the business? Question 2. How Much Does It Cost To Start A Food Cart Business In The Philippines? Some franchising companies require a capital of over 100,000 pesos while others can be started for much less. The other option that is available to you is to start your own food cart business. If you were to start your own food cart business, this would initially be the most expensive path. But when looking at this business model long term, it could be the most profitable and the most money-saving model compared to franchising. On average, a franchising food cart business in the Philippines requires a total investment cost of 40,000 to 60,000 pesos and at least 100,000 pesos to open your own food cart business in the Philippines. The total cost needed depends on your sub-niche and the area Question 3. What Are The Legal Requirements For A Food Cart Business In The Philippines? Here are a few areas to focus on. 1. Business Permits 2. Food Truck / Food Cart Registration 3. Food Service Permit 4. Health Requirement 5. Sales Tax Permit Are there Tips For Starting A Food Cart Business In The Philippines? What guide would this be without some tips! Let us take a look. Right Location: The right location can make or break your business. Try to look at potential businesses nearby. For instance, is there a call center or corporation nearby where the staff could benefit from your selling product? Right Network: Are you able to network with different companies or people? Perhaps you can agree with a company you will offer its workers 20% off all drinks on Saturday and Sunday. Right Products: There are millions of products you could sell! Okay, probably not millions, but you get the point. When you are out and about and see a food cart business, what do you want? In other words, what can you not walk past without buying? Right Team: You may decide to run this business on your own, or you may decide to hire someone to run this for you. Whatever you choose, make sure you have the right team behind you. This is critical when building the foundations of your business. Right Plan: At the start of any business, a plan or a strategy will be needed. Some businesses are ‘winged,’ which means they start without any plan. This is not recommended for a food cart business in the Philippines. Right Vision: Where is your company going? Do you want to make food so good that others will want to franchise your company? I wouldn’t suggest spending days looking at each of these points but at least a few hours with a pen and paper. You can always change your plan and strategy as you start to grow but having a necessary foundation will help you in the early days of business. How To Start Food Cart Business In The Philippines'
Tags: Food Cart Philippines , How To Start Food Cart Business In The Philippines
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