Most of the Filipinos want to have a business. We are a
business-minded people. We easily see opportunities from things around us. The
proof to it is the domination of sari-sari stores in the country. We can see it
anywhere even in the most rural place in the Philippines. Now the questions
are, why sari-sari stores' domination in the Philippines continues? Why several
Filipinos get into sari-sari store business? Here are the reasons why Filipinos
get into sari-sari store business.
- Low start-up capital. 93% of sari-sari store owners set up shop outside their homes. They spend on doing minor renovation work to create access to storage facilities inside the house. The initial inventory for a week’s worth of goods may start for as low as Php 10,000.
- Cash business. The sari-sari store is a straight cash payment business. There are no credit or debit card payments, and checks are not accepted. It generates cash sales every day.
- Convenient. This business is perfect for a “lola” or for stay-at-home parents who watch over their children.
- Low-risk approach to retail. People who plan to get into the retail business can use the sari-sari store as a low-risk approach to gain experience.
- Accepted retail concept. It does not need to be heavily marketed and promoted because this type of store is an accepted concept in the Philippines.
No comments:
Post a Comment