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Sketchy businesses ...
Hi guys, my 1st post in here. My lady has a decent job but due to personal commitments, its taking its toll on her. She wants to invest in a franchise business. I respect and admire her spirit of entrepreneurship. But of course, I'm concerned about the number of dodgy franchise businesses in PI that are aplenty -- From your typical Multi-level marketing (MLM) gimmicks to juice stands to snack carts. These businesses have a great marketing bait and great "reviews" and Facebook feedback/marketing. The pitch are very enticing and many Filipinos/Filipinas has & will bite into such schemes of getting rich. (I'm not claiming all such businesses are sketchy).
I could help her out but she'll not accept any freebies, but I'd seen my fair share of business scams or get-rich-schemes. You know what they say, "If it looks too good, something's fishy". And I smell a bad fish. I could be blunt and honest to her about my point of views but I know it'll be crushing for her. What's your take on this? Any advice?
Personally, it's my belief there are very few 'good' businesses to run in the PH. But I'll share on a few points here.
Sounds like she's your g/f and isn't asking for a handout, which is good. But you also don't want her to lose her hard-earned money.
If she's open to the idea, pig-farming is actually a profitable, good business. If she's willing to do it herself with a helper. But theft is the biggest reason these lose money, and it's the unsupervised caretaker who does it. So she'd need to be on the farm to keep her profits.
Another much needed business is storage units. So many expats have been wanting storage units for when they travel. The key thing is providing good security for the units. This can be tricky finding trustworthy security personnel.
You never mentioned what the franchise business is, so it is really hard to comment directly on it.
Although you sound pretty clued up with business matters, as such you would know with a franchise comes a lot of additional problems - stock for one, most if not all franchises require you to buy stock direct from them, there is also usually advertising fee's and other fee's involved.
The storage units would be a good idea, provided you could find 'flood-free' land of suitable size, build a high (possibly razor wire topped) fence to keep vermin out. And possibly even build a modest 1 or 2 bedroom brick house on the lot as well - living on site will improve your security. Obviously having security cameras scattered around covering all areas is a must, along with keypad gate entry on a timer, so access is only between specific hours, say 7AM till 7PM etc, after which no-one can access the compound. Obviously you would have a separate code for yourselves to enter and leave at will anytime.