My family and I have decided to put up a second and a third business. I am now in the midst of doing a feasibility study of putting up a one-hour photo shop in Cebu and a little food take-out service.
While the business of printing & publishing of textbooks and manufacturing of computer forms are still going strong, wifey and I have decided to put up a two other businesses.
The one-hour photo shop will cost us an estimate of 10m including the purchase of machines, construction, initial inventory and training. Considering that a major fraction of customers will be walk-ins it should be located somewhere in Cebu city near schools, subdivision, banks and where human traffic will be dense. As they say business is about location, location, location!
As of now, there are no partners that will be involved in the project to make things less complicated. I'm also considering buying a franchise from Kodak since, aside from already having a name, I heard they have good after-sales service.
As for the take-out food service, it'll start with a few items on the menu, batchoy and tapsi to start placed in re-useable containers, we will also put in a table for people who could not wait to bring them home. We are also thinking of making deliveries around the area since a number of establishments have slowly started placing themselves in Talamban. This will be a home-based operation. Estimated initial value is around 10k including cookwares, inventory and initial wages for people involved. We still have to find the right suppliers, if you are one please email me.
This is what's good about Cebu's business climate. Since it is still booming there is a lot of elbow room for people to build new businesses. The market is very raw and very eager to try out new establishments and new ideas. This is also the reason why people in Luzon have chosen to move to Cebu. Be reminded though that Cebuanos are a thrifty and skeptic bunch, quality and price are always a factor in doing business here.
This reminds me of the time when I used to be part-owner of a manila-based .com company and travel agency along with my main business. While it took it's toll, it was a joy to see things come together. I had to give both up since I moved to Cebu and having businesses a few thousand miles away wasn't really my cup of tea.