Medic Mike Posted August 2, 2015 Posted August 2, 2015 Well my friends, my plan has always been to slowly to invest in small business before I move over to Cebu full-time, but so far I have not really found any investments that pay off on a regular basis. I have been looking at the mall food carts for sometime, however very hard to get into them. Owners that are making consistent profits with them don't want to let them go. However, I have finally found a food cart, that is quite new, so has not built up its clientele yet, however it has been going from strength to strength. I have done my due diligence on the cart and its overhead so I am almost good to go. I just need to work out final asking price for cart, as he is asking a little too much I think. Wish me luck with finally my first money maker (hopefully), :) 3 Link to comment Share on other sites More sharing options...
Gratefuled Posted August 2, 2015 Posted August 2, 2015 What can I say but GOOD LUCK. You're more ambitious than me. 1 Link to comment Share on other sites More sharing options...
Medic Mike Posted August 2, 2015 Author Posted August 2, 2015 (edited) What can I say but GOOD LUCK. You're more ambitious than me. I suppose I don't want to rely completely on my Australian super and USA pension, I would love to have really steady income coming in all the time. Edited August 2, 2015 by Medic Mike 3 Link to comment Share on other sites More sharing options...
Gratefuled Posted August 2, 2015 Posted August 2, 2015 What can I say but GOOD LUCK. You're more ambitious than me. I suppose I don't want to rely completely on my Australian super and USA pension, I would love to have really steady income coming in all the time. Any business venture in the PI is a gamble. Many have succeeded many have failed. My wife does not depend on me. She has her Boarding House which is full most of the time. Her parents take care of it. Wife compensates them for their work. Link to comment Share on other sites More sharing options...
Medic Mike Posted August 2, 2015 Author Posted August 2, 2015 What can I say but GOOD LUCK. You're more ambitious than me. I suppose I don't want to rely completely on my Australian super and USA pension, I would love to have really steady income coming in all the time. Any business venture in the PI is a gamble. Many have succeeded many have failed. My wife does not depend on me. She has her Boarding House which is full most of the time. Her parents take care of it. Wife compensates them for their work. I really like the food cart ideas, the trick is get one that is always busy, in a good location, and that the mall in question does not charge you an arm and a leg for rent and electricity. haha. 1 Link to comment Share on other sites More sharing options...
Gratefuled Posted August 2, 2015 Posted August 2, 2015 What can I say but GOOD LUCK. You're more ambitious than me. I suppose I don't want to rely completely on my Australian super and USA pension, I would love to have really steady income coming in all the time. Any business venture in the PI is a gamble. Many have succeeded many have failed. My wife does not depend on me. She has her Boarding House which is full most of the time. Her parents take care of it. Wife compensates them for their work. I really like the food cart ideas, the trick is get one that is always busy, in a good location, and that the mall in question does not charge you an arm and a leg for rent and electricity. haha. I'm not too sure about this but here goes anyway and I do not want to discourage you, ok. First of all I do sincerely hope you are successful. Second, if you are too successful the local government might want its cut. This means a Business License. There goes some of your profit. They want their share of any foreigners business profits. Maybe in your wife's name. Then, there's the 60/40 thing when a foreigner owns a business. Find out all the ins and outs before you invest a lot of money. GOOD LUCK Link to comment Share on other sites More sharing options...
Jack Peterson Posted August 2, 2015 Posted August 2, 2015 I really like the food cart ideas, the trick is get one that is always busy, in a good location, Can You get it in your name or does it require like most things a Filipino Partner cos this is where your Problems will start, Staffing and buying Stocks will need to be monitored very careful. especially as you are not here Full time and it sounds as if you are going to do this before you retire. Strange things can and do happen. Whilst I would be on the list to wish you well, I do hope you are remembering all that we talk about here. :thumbsup: JP :tiphat: 1 Link to comment Share on other sites More sharing options...
Medic Mike Posted August 2, 2015 Author Posted August 2, 2015 What can I say but GOOD LUCK. You're more ambitious than me. I suppose I don't want to rely completely on my Australian super and USA pension, I would love to have really steady income coming in all the time. Any business venture in the PI is a gamble. Many have succeeded many have failed. My wife does not depend on me. She has her Boarding House which is full most of the time. Her parents take care of it. Wife compensates them for their work. I really like the food cart ideas, the trick is get one that is always busy, in a good location, and that the mall in question does not charge you an arm and a leg for rent and electricity. haha. I'm not too sure about this but here goes anyway and I do not want to discourage you, ok. First of all I do sincerely hope you are successful. Second, if you are too successful the local government might want its cut. This means a Business License. There goes some of your profit. They want their share of any foreigners business profits. Maybe in your wife's name. Then, there's the 60/40 thing when a foreigner owns a business. Find out all the ins and outs before you invest a lot of money. GOOD LUCK Yep, I realise that, hence putting the business 100% in my GF name. I really like the food cart ideas, the trick is get one that is always busy, in a good location, Can You get it in your name or does it require like most things a Filipino Partner cos this is where your Problems will start, Staffing and buying Stocks will need to be monitored very careful. especially as you are not here Full time and it sounds as if you are going to do this before you retire. Strange things can and do happen. Whilst I would be on the list to wish you well, I do hope you are remembering all that we talk about here. :thumbsup: JP :tiphat: Yep all sorted, my GF is going to manage the cart and keep an eye on things. 1 Link to comment Share on other sites More sharing options...
Forum Support scott h Posted August 2, 2015 Forum Support Posted August 2, 2015 Might be fun, think of all the girl watching you can do standing there while they all walk by :thumbsup: . 1 Link to comment Share on other sites More sharing options...
Medic Mike Posted August 2, 2015 Author Posted August 2, 2015 Might be fun, think of all the girl watching you can do standing there while they all walk by :thumbsup: . If my GF catches me doing that....for sure I lose the investment :) Link to comment Share on other sites More sharing options...
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