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With temperatures getting hotter and hotter in the Philippines, Filipinos are often looking for ways to escape the heat. 

One increasingly popular solution? Cold brew coffee. This refreshing alternative to hot coffee has surged in demand, presenting an opportunity for entrepreneurs eager to explore the world of beverage businesses. 

In this guide, we’ll share eight essential steps to help you kickstart your cold brew coffee business.

1. Determine how you will sell coffee 

The first thing that comes into one’s mind for selling coffee is to put up a cafe. Starting a cafe requires significant capital investment and entails considerable risk. Beyond the charm of serving coffee in a cozy ambiance lies the reality of hefty initial expenditures. From securing a suitable location and acquiring commercial-grade equipment to hiring trained baristas and marketing your brand, the costs can quickly escalate. 

Unlike before, you don’t need a brick-and-mortar store to sell cold-brew coffee. Coffee startups have expanded into several types to make it easier for beginners to start their cold-brew coffee business. You have the option to use a vehicle (coffee truck), sell via weekly pop-ups, or do a cloud cafe. 

Coffee Truck or Coffee Jeep

Going mobile means you’ll have to spend for a customized truck or coffee jeep if you don’t have a readily available car. A cheaper option would be using second-hand or repossessed cars because it will lessen the initial expenses involved. 

Pop-up Coffee Shop

The Coffee Crates, a pop-up coffee shop
The Coffee Crates, a pop-up coffee shop

A pop-up coffee shop offers versatility and affordability when launching a coffee business. Unlike traditional coffee shops, this type of store doesn’t have a fixed location. Instead, it operates in various areas with high foot traffic, such as fairs, festivals, and train and bus stations, providing ample opportunities for engagement with potential customers.

Cloud Kitchen

A cloud kitchen, also known as a “ghost kitchen” or “virtual kitchen,” is a professional cooking space where food businesses can make meals specifically for delivery and takeout. Unlike regular restaurants, cloud kitchens don’t have dine-in areas. Instead, they focus solely on preparing food to be delivered or picked up. In the Philippines, these kitchens often partner with GrabFood or Foodpanda.

2. Find a Location

However you want to sell your coffee, having a good business location is essential. So the next step is to scout for a location that will help your brand become more visible and accessible to buyers. Here are some considerations in selecting a location for your coffee business. 

Heavy foot traffic 

Whether you are putting up a traditional coffee shop or a coffee truck, you need a spot with high foot traffic to make your coffee accessible to buyers. Examples of high foot traffic areas are near public parks, markets, and community spaces. Target places where most people pass by. 

Operating schedule 

Match your operating schedule when most people look for coffee. People often buy coffee for a morning boost, which is at around 9 am. In the afternoon, between 1 pm and 5 pm, when cortisol levels naturally dip, you could expect more people dropping by into your cafe or coffee jeep.

Delivery services 

If you decided to start a cloud kitchen, it would be easier to have a location because you can operate even in your place of residence. Despite this convenience, you also need to consider your proximity to your target customers. Shipping to places that would take 1 hour to 2 hours of delivery time might charge customers higher delivery fees and force them to wait longer. These factors typically discourage customers from placing an order.

3. Choose what type of coffee bean you will use

Arabica Beans

These beans, making up around 60% of the world’s coffee, grow in high areas with steady rain. They’re popular for their lively taste and acidity, sometimes with complex flavors and scents.

Robusta Beans

Second in popularity to Arabica, Robusta plants are tough and can grow in various altitudes, even lowlands like those in Southern Tagalog in the Philippines. They contain more caffeine than Arabica but offer a smooth taste, especially enjoyable with cream and sugar.

Liberica Beans

Also known as Kapeng Barako locally, Liberica is less common now but played a big role historically when coffee rust hit the industry. It has a strong, chocolaty, and smoky flavor, with spicy undertones that some might find overpowering.

Excelsa Beans

Only 7% of the world’s coffee is Excelsa, grown mostly in Southeast Asia, including the Philippines. Often used in blends for added complexity, Excelsa offers a tart and fruity flavor with hints of mild roast and smokiness, appealing to coffee lovers worldwide.

4. Decide your menu offerings

il mio coffee menu
Menu of il mio coffee

Espresso, steamed milk, and froth are the key ingredients in many coffee drinks, with various types available at your mobile shop. Additional toppings can be added based on your customers’ preferences. Here are some examples:

Espresso

A popular choice, requiring slightly over 1 ounce of concentrated coffee.

Double Espresso (Doppio)

A highly concentrated beverage suitable for coffee enthusiasts.

Americano

Made by diluting one shot of espresso with three ounces of hot water, often enjoyed as a breakfast beverage.

Macchiato

Espresso “marked” with a dash of steamed milk, creating a distinct flavor.

Cappuccino

A rich coffee beverage with thick foam, often enjoyed for breakfast and associated with comfort and indulgence.

Cafe Latte

A milder coffee drink with added milk to reduce acidity and bitterness, sometimes sweetened with flavored syrups.

Mocha

Combines coffee with hot chocolate, offering a creamy taste with the addition of cocoa powder or syrup to balance the espresso’s acidity.

5. Work on your branding

Starting a cold-brew coffee business requires careful consideration, especially in a saturated market. One crucial aspect is the design of your cold-brew coffee container, as it can significantly impact consumer choice. Factors such as color, shape, and lid closure should be thoughtfully considered to make your product stand out on the shelves. 

Additionally, crafting an eye-catching logo and memorable tagline can help create brand recognition and attract customers. Ensuring consistency across all marketing materials is crucial for building brand identity. If the creative process feels overwhelming, seeking professional help for design and creative services can ensure a polished brand image. 

6. Calculate your starting capital

The first 5 steps we mentioned are important because they will determine the initial amount of money you need to prepare to start a cold brew coffee business. 

This entails estimating the initial expenses required to launch your business. Factors to consider include:

  1. Equipment costs (such as coffee brewing equipment, storage containers, and vehicles for mobile operations)
  2. Ingredient costs (coffee beans, milk, flavorings)
  3. Marketing expenses (branding, advertising, website development)
  4. Licensing and permits
  5. Utility costs
  6. Manpower costs

7. Build partnerships with trusted suppliers

Many coffee bean producers who are not yet popular in the market provide reasonably-priced high-quality beans. Once you’ve started your cold brew business, take time to join weekend markets because this is where you will most likely meet them. By establishing relationships with these suppliers, you can ensure a steady and consistent quality of beans at a lower cost.

8. Prepare to be a jack-of-all-trades

As a startup owner, you’ll need to wear many hats and handle various responsibilities, even before launching your product. This includes making decisions about your brand’s image and ensuring the quality of your products. From bottling your cold brew to getting it into the marketplace, there will be a lot to manage. 

Your vision should include strategies for managing the company’s growth. Whether you’re starting small or aiming for expansion, it’s crucial to set clear goals from the outset. 

Key Takeaway

The demand for cold brew coffee presents a promising opportunity for entrepreneurs, but success depends on thorough preparation and execution. By following the eight essential steps outlined in this guide, aspiring cold brew coffee business owners can launch their venture.

From determining the sales approach and selecting the right coffee beans to crafting a compelling menu and establishing a strong brand identity, each step plays a crucial role in laying the foundation for success. Additionally, calculating the starting capital and building partnerships with trusted suppliers are vital aspects that contribute to the business’s sustainability and growth.

As a startup owner, it’s essential to be prepared to handle multiple responsibilities and make informed decisions to ensure the business’s success. By staying organized, setting clear goals, and remaining adaptable to market trends and consumer preferences, entrepreneurs can position their cold brew coffee business for long-term viability and profitability.

From generation to generation, Filipinos have always been urged to save. The concept of ‘kapag may isunusuksok, may madudukot’ shows how money is valued in our culture. As financial literacy was slowly introduced to the Philippines, Filipinos looked for smarter ways to save, the most popular concept being ‘let your money earn for you.’

The need for banks that ‘made your money earn’ gave rise to digital banks. BSP wants at least 70% Filipinos to have their bank account, which they can’t easily have because of too many bank requirements including valid ID. Because of this motivation from BSP, Filipinos are also encouraged to save and help manage their finances better. 

If saving is your number one priority this year, save this blog post discussing the best digital banks in the Philippines with high-interest rates. 

RCBC Diskartech

RCBC Diskartech savings

Launched in July 1, 2020, RCBC Diskartech is RCBC’s multi-lingual financial inclusion that can be used in Tagalog or Cebuano languages and is the first of its kind in the Philippines. 

Interest RateFull Basic and Community Basic Deposit Accounts both offer 6.5% annual interest
Perks Includes TeleKonsulta and Telemedicine plan for budget-friendly consultations and medicines.
New Account RequirementsOne valid ID (options are provided in their app)Active mobile numberSelfie verificationPersonal info
PromosThey offer cashback options when shopping in Shopee, Lazada, or Zalora. 
Unlimited Telekonsulta credits for a 50-peso monthly subscription
Other promos change monthly so it’s best to always check their website.
How to DownloadAvailable in Google Play Store Apple App Store

CIMB

CIMB virtual card

CIMB Group Holdings Berhad is a bank from Malaysia that operates in fast-growing economies in the ASEAN region.

CIMB Bank Philippines Inc. is a significant milestone for CIMB as it expands its presence across ASEAN. Established in December 2018 and based in Bonifacio Global City, CIMB Philippines offers a fully digital banking experience. Account opening takes only 10 minutes through the mobile app. They offer competitive interest rates for savings accounts, no transaction fees, no initial deposit, or minimum balance requirements. 

Interest RateUpSave accounts offer an annual interest rate of 2.5%.
GSave accounts provide an annual interest rate of 2.6%.
Time Deposit accounts holding ₱10,000 for six months earn a 6.5% annual interest rate.
Time Deposit accounts holding ₱10,000 for 12 months earn a 7.0% annual interest rate.
Time Deposit accounts holding ₱10,000 for 24 months earn a 7.5% annual interest rate.
Perks Complimentary virtual debit card.No charges for transactions between CIMB and other banks.
New Account RequirementsGCash user needs to have a verified account.
For UpSave, you’ll need to provide your mobile number, one valid ID, and personal details
PromosPromos change monthly so it’s best to always check their website.
How to DownloadAvailable in Google Play Store, Huawei App Gallery, and  Apple App Store

GOTyme Bank

GoTyme card

GoTyme Bank is a collaboration between Tyme, a digital banking group operating in multiple countries, and members of the Gokongwei Group, including Robinsons Bank, Robinsons Land Corporation, and Robinsons Retail Holdings, Inc. In January 2024, BPI acquired 20 percent of GoTyme as part of its merger with Robinsons Bank Corp. However, due to significant overlap in and similarity of product offerings between BPI and GoType, BPI divested its 15-percent stake in Gokongwei-backed GoTyme Bank Corp., which is still subject to BSP’s approval.

Accessing their services starts with an easy account opening process via GoTyme Bank that takes less than 5 minutes to open an account using a free app or by getting a free personalized Visa ATM Debit card from kiosks manned by Bank Ambassadors in Robinsons Retail locations across the country.

Interest RateGoSave accounts earn 4% annually
Perks Visa and BancNet supported free debit cardNo fees for withdrawing or depositing at Robinson-affiliated stores.No withdrawal fees at Robinson Bank ATMs.
New Account RequirementsPhilippine-issued IDMobile numberPersonal details
PromosPromos change monthly so it’s best to always check their website.
How to DownloadAvailable in Google Play Store and  Apple App Store

UnionDigital Bank

UBEH (Union Digital Bank)

UnionDigital Bank is a licensed digital bank authorized by the BSP, operating as a subsidiary of UnionBank of the Philippines and affiliated with the Aboitiz Group. It is also called the UBEH Bank because of its violet color scheme that is associated with the famous Filipino root crop, ube. 

Interest RateSavings Accounts earn 4% annually.UD Time Deposit Accounts earn 6.75% annually.
Perks No transfer fees for PESONet transactions to other banks and e-wallets.
New Account RequirementsOne valid IDMobile numberPersonal details
PromosPromos change monthly so it’s best to always check their website.
How to DownloadAvailable in Google Play Store, Huawei App Gallery and  Apple App Store

Maya Bank

Maya Bank is the online banking division of Voyager Innovations, a top technology company in the Philippines. Together with Voyager’s fintech arm, Maya Philippines, they’re building Maya, the country’s sole comprehensive digital financial services platform.

As a groundbreaking digital bank, Maya Bank is reshaping the financial landscape for Filipino consumers and small businesses by offering innovative and practical financial solutions, including savings, deposits, and credit services through the Maya platform.

Interest RatePersonal Goals Accounts: Earn 4% interest per year.Savings Accounts: Enjoy a 10% annual interest rate.Business Deposit Accounts: Get a 2.5% yearly interest rate.Time Deposit Accounts: Earn 6% interest per year.
Perks No cash-in fee from Maya Wallet to Maya Bank.
New Account RequirementsOne valid IDMobile numberSelfie verificationPersonal details
PromosPromos change monthly so it’s best to always check their website.
How to DownloadAvailable in Google Play Store, Huawei App Gallery and  Apple App Store

UNOBank

UNO Digital Bank is the first full-spectrum digital bank in Southeast Asia licensed by the Bangko Sentral ng Pilipinas. It’s among the six digital banks authorized by the BSP. Deposits in UNO Digital Bank are insured by the Philippine Deposit Insurance Corporation (PDIC) for up to P500,000 per depositor.

Interest RateUNOReady Account offers an annual interest rate of 4.25%.UNOBoost Time Deposit Account and UNOEarn Time Deposit Account both provide an annual interest rate of 6.5%.Note: GCash’s GSave can be linked to the UNO App, offering the same interest rates.
Perks Receive a complimentary Mastercard virtual card.No transaction fees at over 7,500 partner outlets.
New Account RequirementsOne valid IDMobile numberPersonal details
PromosPromos change monthly so it’s best to always check their website.
How to DownloadAvailable in Google Play Store and Apple App Store.

SeaBank

Seabank savings

SeaBank Philippines, Inc. (A Rural Bank) is affiliated with Sea Limited (NYSE: SE), a worldwide consumer internet firm established and based in Singapore, listed on the New York Stock Exchange. SeaBank Philippines Inc. (A Rural Bank) operates under the regulation of the Bangko Sentral ng Pilipinas. Deposits in SeaBank Philippines are insured by the PDIC for up to P500,000 per depositor.

Interest Rate350,000 – below (4.5% per annum)350,000 – above (3.0% per annum)
Perks Transfer funds for free to SeaBank accounts.Enjoy free transfers via InstaPay and PESONet.Interest is credited daily.
New Account RequirementsOne valid IDMobile numberPersonal details
PromosPromos change monthly so it’s best to always check their website.
How to DownloadAvailable in Google Play Store, Huawei App Gallery and  Apple App Store

Key Takeaway

With the increasing popularity of digital banking in the Philippines, numerous options are available to cater to various financial needs. Among the leading digital banks offering competitive interest rates and convenient features are RCBC Diskartech, CIMB, GoTyme Bank, UnionDigital Bank, Maya Bank, UNO Digital Bank, and SeaBank Philippines, Inc. 

Each of these digital banks provides unique perks, such as free virtual cards, no transaction fees, and high interest rates on savings and time deposit accounts. 

With simple requirements for opening an account and easy access through mobile apps, these digital banks offer Filipinos efficient and accessible banking solutions. Exploring these options and choosing the one that best fits your financial goals and preferences is essential.

When mentioned in conversations among Filipinos, cryptocurrency is a controversial topic. It is often associated with scams and illegal activities. Is it really illegal, though?

This blog aims to explain cryptocurrency in the simplest way possible, making it a helpful guide for curious Filipinos who want to explore cryptocurrency. 

Ano Ang Ibig Sabihin ng Cryptocurrency?

Cryptocurrency, sometimes called virtual currency (VC)  is a digital form of money. It has no physical form like paper bills or coins. Unlike traditional money, it is not stored in banks but rather in an online database that every user can access. Since it is not produced or regulated by the bank, cryptocurrency is not controlled by the central government – making crypto a decentralized currency. It can be saved, sent, or used as payment.

What Is the First Cryptocurrency?

bitcoin

Bitcoin is the first modern cryptocurrency that was invented. In 2009, during a severe economic recession, the worst since World War 2, Satoshi Nakamoto unveiled a groundbreaking white paper titled “Bitcoin – A Peer-to-Peer Electronic Cash System.” 

This document introduced Bitcoin as a digital asset and a method for global money transfers. Furthermore, Nakamoto established the first secure blockchain network, a technology still used today for various cryptocurrencies.

As a result, Nakamoto not only invented Bitcoin but also established the security measures for Blockchain. He aimed to give the public access to money and reduce financial inequalities. Starting as a simple storage, blockchain now serves as the confirmation medium for transactions, ensuring the reliability of Bitcoin and other cryptocurrencies for widespread use.

Crypto Adoption in the World

Cryptocurrency has been continuously growing in other countries like Vietnam, Brazil, United States, China, and India. These are the top 5 countries with the highest number of cryptocurrency-owning citizens. 

In Vietnam, 70% of the country’s digital currency investors are between 17 to 34 years old. While in Brazil, around 26 million citizens invest in these digital currencies. The United States ranks third with 15.56% percent of its population, aged 18 to 34 years old virtual currency holders. The second highest is China with 59 million crypto owners and India ranks first with 1.42 billion crypto enthusiasts.  

How Does Cryptocurrency Work?

Cryptocurrency transactions work like sending messages through a special digital network. When someone wants to send cryptocurrency, they send a message to the whole network with details like who they’re sending it to, how much, and when.

Imagine your friend wants to send some cryptocurrency to you. She starts by sending a message to the network with all the details. But her message doesn’t get processed instantly. Instead, it joins a bunch of other messages, forming what’s called a “block.” This block contains a bunch of recent transactions.

Now comes the interesting part. Miners, who are like digital detectives, race to solve a puzzle based on the information in the block. Whoever solves it first gets to add the block to the blockchain, which is like a digital ledger that records all transactions.

Once a miner solves the puzzle, everyone else in the network checks to make sure the solution is correct. If it is, the new block gets added to the end of the blockchain, and your friend’s transaction is officially confirmed.

However, this confirmation isn’t instant. It takes a bit of time for the network to process about six blocks of transactions to make sure everything is legitimate. But once that’s done, your friend can be sure her transaction went through successfully.

Types of Cryptocurrencies

Bitcoin (BTC)

Bitcoin is the first and most famous cryptocurrency, invented in 2009. People often think of it as “digital gold” because it’s a popular choice for long-term investment. Many stores and websites accept Bitcoin as payment, making it widely used for buying things online and offline.

Ethereum (ETH)

Ethereum, created in 2015, is the second-largest cryptocurrency. Unlike Bitcoin, it’s designed for more than just payments. Ethereum allows developers to build apps called smart contracts, which run on its blockchain. These contracts can do things like run games or manage financial transactions without any chance of fraud.

Tether (USDT)

Tether is a stablecoin tied to the value of the US dollar. It’s the third-largest cryptocurrency and is commonly used to stabilize the prices of other cryptocurrencies. When the market is volatile, investors often switch to Tether to protect their investments and keep the market stable.

USD Coin (USDC)

USD Coin, created by Circle and Coinbase, is another stablecoin tied to the US dollar. It’s backed 1:1 with real dollars and is available on Coinbase, a popular cryptocurrency exchange. Like Tether, it helps stabilize the prices of other cryptocurrencies.

BNB (BNB)

BNB is the native token of Binance, a major cryptocurrency platform. It’s used to pay for transaction fees on Binance, often at a discount compared to other currencies. BNB can also be used to buy other cryptocurrencies on the Binance platform.

Features of Cryptocurrency

Decentralized

Unlike traditional currency, Bitcoin and other cryptocurrencies can be processed and verified by an independent and transparent network that belongs to no single person.

Highly Secure

Cryptocurrencies have high levels of security thanks to encryption codes and public cryptographic systems. Each owner possesses a private key. The cryptographic algorithms generating these keys use many number combinations that are virtually impossible to crack. Hence, users can confidently use cryptocurrencies without concerns about hackers.

Users can stay anonymous

Scams have many forms and have become more sophisticated with technology and AI – people can now edit faces and imitate voices! Cryptocurrency owners can protect themselves because they don’t need to share sensitive information. All crypto transactions are dependent on a sequence of characters and not on the person or company using them. 

Deflationary

Fiat currency, the bills and coins that people use like the Philippine peso, US dollar or Euro gets its value from people believing it and the government backing it. When prices rise due to inflation, it erodes the purchasing power of that currency. 

Cryptocurrency is deflationary because its production has already a determined limit. Once the maximum supply has been reached, the production stops. 

Is Cryptocurrency Legal in the Philippines?

Yes, cryptocurrency is quasi-legal in the Philippines meaning they are neither fully accepted nor completely banned. Crypto transactions are legal but they are not recognized by the Bangko Sentral ng Pilipinas (BSP) as legal tender since they are not the issuing or regulatory body. 

BSP’s rules about virtual currencies (VCs) state that VCs aren’t like regular money because they’re not backed by a government or anything valuable like gold. However, because people use VCs to send money and make payments, businesses that provide services using VCs need to register with the BSP. They also have to take steps to lower the risks involved with using VCs. If a business dealing with VCs doesn’t follow these rules, it can face penalties from the BSP.

Is Cryptocurrency Taxable in the Philippines?

Yes, cryptocurrency is taxable in the Philippines, with the primary form of taxation being implemented as capital gains tax (CGT). CGT can go as high as 15%, but it will vary depending on the sales generated from exchanging or purchasing cryptocurrencies.

Additionally, Filipinos whose crypto trades are meant for reselling after a short time, their assets will be classified as inventory. Consequently, it will possibly be subjected to value-added tax (VAT), which is 12%, once it reaches the required threshold.

Key Takeaway

Cryptocurrency represents a mindset shift in the concept of money, offering Filipinos an alternative financial ecosystem that is decentralized, secure, and potentially transformative. 

Despite initial misconceptions and regulatory challenges, the global rise of cryptocurrencies like Bitcoin emphasizes their increasing acceptance and usefulness. By understanding the fundamentals of cryptocurrency, Filipinos can explore virtual currencies with confidence, potentially unlocking new opportunities for financial inclusion and empowerment. 

As the world embraces this digital revolution, Filipinos must stay informed and proactive in exploring the possibilities that cryptocurrencies offer for their financial futures.

Barbecue, BBQ or ihaw-ihaw. Despite its many names, BBQ is an all-time Filipino favorite viand perfect with an ice-cold glass of Coca-Cola. Its versatility is another reason for its popularity – it’s also a tasty afternoon snack.

If you are an avid ihaw-ihaw fan and want to turn your passion for BBQ into an income-generating venture, our guide will give you tips on how to start an ihaw-ihaw business. 

1. Starting Capital Computation

One good thing about ihaw-ihaw business is that you can start selling on a small scale. If your house is located in an area where many people pass by, you can start your barbecue business by opening a stall just outside your gate. 

Consider preparing the following if you want to start your business in a home-based set-up:

  • Two to three tables with chairs 
  • Rectangular plastic containers for your food items
  • Lightbulb if you plan to sell until nighttime. 

These can be gathered from around your house and don’t need to be additional expenses to your starting capital.

Here’s a sample computation of how much you’ll need to begin your ihaw-ihaw business.

Stainless steel barbecue grill – 3,500 to 5,000 pesos

Meat and Innards – 3,000 pesos

Marinade ingredients – 1,000 pesos

Coal – 300 to 350 pesos per sack 

Packaging – 500 pesos

Cooking Equipment – 500 pesos

With 10,000 pesos you will be able to open a home-based ihaw-ihaw business. Consider adding rice and soft drinks to your menu if you plan to accommodate indoor diners later on. 

2. Write Your BBQ Business Plan

We don’t know how often you’ve heard this, but this principle applies to business – failing to plan is planning to fail. Write your business plan before you purchase any equipment or ingredients. Your business plan does not need to be sophisticated as it is the starting point for all your business ideas. 

These are some questions that your business plans should answer:

  1. What is your menu?
  2. Where will you get the funds?
  3. How much is your total budget? How much can you allocate for the following?
    • Equipment
    • Ingredient
    • Packaging
    • Other supplies
  4. Where will you sell? Will you be renting a commercial space?
  5. What documents, licenses, and permits will you need?
  6. Will you need an assistant or cashier to help you out?
  7. What is your marketing strategy?

These are the basic questions that will help you get started. More questions may arise from this first set. 

3. Decide on Your Unique Selling Point

You can focus on selling pork and chicken intestines or isaw

In every city, there are various establishments selling barbecue. So, how will you stand out from them? What is special about your ihaw-ihaw stand?

One way to distinguish yourself is to decide what kind of barbecue you will serve. Will you focus on chicken meat only? Will you sell a combination of chicken and pork BBQ? Is fish or grilled seafood included in your menu?

To help you identify what food items to include in your menu, you can do a competitor research and compare what ihaw-ihaw products are commonly sold in your area. Some popular menu offerings are pork and chicken meat, pig’s ears, intestines, liver, and other body parts or organs. 

Remember that your unique offerings and menu selections will set you apart from the competition. By carefully considering what types of barbecue you’ll serve and conducting thorough competitor research, you can carve out a niche for yourself in the market. 

4. Look for a Reputable and Reliable Meat Supplier

When running a food business, you need to ensure that the quality of your food is consistently good. One thing that drives away customers is inconsistency. If your food tastes good this week and then tastes different the next, or when your servings gradually decrease, they will not feel inclined to come back. This is why you need to get your meat from a trusted supplier. 

Also, working with only one or two suppliers can help you save in the long run because you will be able to request discounts from them, especially in bulk orders.

5. Invest in Sturdy Grilling Equipment

Before you get tempted to buy those portable grills you see online, remember that the quality is not guaranteed. It is safer and more cost-efficient to invest in a customized stainless barbecue grill. 

Grill price ranges from 3,000 to 5,000 pesos on Facebook Marketplace. You can use Facebook to search for stainless steel specialists near your area.

Essential Equipment for Barbecue Business:

  • Plates 
  • Tongs 
  • Sauce containers 
  • Ladles for the sauces 
  • Take-out packaging (paper bags) 

6. Choose a Prime Location for Your BBQ business

Location is key to the success of your ihaw-ihaw business. Choose a strategic location with high foot traffic, preferably near offices, schools, or residential areas where people often crave a quick and tasty meal. Consider factors such as accessibility, parking availability, and competition in the area. A well-chosen location can significantly boost your sales and visibility.

7. Comply with Documentary Requirements

Before diving into the details of getting permits, it’s important to decide how your food business will be set up. Your choice of business structure will have a big impact on things like taxes, permits, and your responsibilities as the owner.

The most common structure for small businesses is Sole Proprietorship. This is when one person owns the whole business and is responsible for everything. It gives you full control, but also means you’re personally responsible for any problems. To start a Sole Proprietorship, you need to register with the Department of Trade and Industry (DTI) and pick a business name.

Once you’ve figured out your business structure, it’s time to think about getting the right permits and licenses for your ihaw-ihaw business. Here’s an overview of the documents every new food business owner should know about:

  1. DTI Registration: Whether you’re running your business online or in person, registering is a crucial step. Sole Proprietors register their business name with DTI.
  1. Business Permits and Licenses: 
  • Tax Identification Number (TIN) 
  • Mayor’s Permit
  • Barangay Clearance 
  • DTI Business Name Certificate (for Sole Proprietors) 
  • Community Tax Certificate from the City Treasurer’s Office.

You might also need a Sanitary Permit to show your business meets health standards, and if you rent your space, you’ll need a lease agreement.

  1. BIR and SSS Registration: You’ll also need to register with the Bureau of Internal Revenue (BIR) to get your Tax ID Number. If you have a huge capital and have employees, you’ll need to pay the Employer’s Share to make sure that they are covered by SSS benefits. 
  1. Following FDA Rules: If your business involves making or selling food, you need to comply with the regulations set by the Food and Drug Administration (FDA). Check their website for info on licensing and registration.

Key Takeaway

Starting an ihaw-ihaw business can be a lucrative venture for those passionate about grilling and serving delicious barbecue delights. However, success in this endeavor requires careful planning and attention to detail. We hope the essential steps outlined in this guide will help you set yourself up for success as a business owner.

A lot of people nowadays dream to become owners of their own businesses. However, one barrier usually faced by these budding entrepreneurs is the cost of setting this up from the ground. There’s this common misconception that start-ups require people to have a deep pocket but that’s not always the case. There are businesses out there that don’t need a lot of capital. 

Curious about what these are? Read further to familiarize yourself with the best business options that you can build under Php 20,000. 

Option 1: Become a Financial Advisor

Cost: P3,565.00 (Php 1,010 each for the Traditional Exam and Variable Exam and Php 1,545 for the Licensing Fee)

Requirements:

  • Financial Advisor Application Form
  • Exam results from the Insurance Commission
  • TIN
  • Professional Tax Receipt
  • Valid Government ID Photocopy

Overview

A financial advisor focuses on guiding people into crafting their long-term financial strategies. They help you with the ins and outs of financial planning – from breaking investment jargon to you to expanding your investment portfolio. Some items that financial advisors assist you with include retirement planning, investments, tax planning, estate planning, health planning, and inheritance. 

Option 2: Establish a Milk Tea Business

Cost: Php 5,000 to Php 15,000

Requirements:

  • Business Permit
  • Stall / Kiosk / Cart / Shop (whichever is applicable)
  • Kitchen Gadgets (e.g. film sealer, electric sealer, milk tea shaker, measuring cups, straws)

Overview

It’s undeniable that Filipinos are milk tea lovers! As they say, there’s no right season or time for milk teas as consumers love to drink them any time of the day, all year round. 

What’s good about setting up a milk tea business is there’s a lot of flexibility. For one, it’s your choice if you’ll invest in a room overhaul and place a dining area where customers can hang out or you may just put up a simple cart or stall to target on-the-go drinkers. Another route you can take is to pair these milk tea drinks with merienda and draft a more innovative menu that will tickle the pallets of your customers. The scale and scope of your business will depend on you. 

Option 3: Open a Cleaning Business

Cost: Php 8,000 to Php 10,000

Requirements:

  • Business Permit
  • Cleaning Equipment (sponges, cloth, dustpan and broom set, gloves, vacuum, etc)
  • Cleaning Uniforms for Employees

Overview

With how fast-paced the world is moving now, a lot of people prefer passing minuscule tasks to other people. One of these is cleaning. 

Admit it or not, cleaning services are in-demand in the Philippines. Given the 8 to 5 pm workday and traffic situation, most people are already tired when they set foot on their houses. They would rather sleep or hang out with their families and friends on their free days. That’s how clearing services came about. This business requires little investment as you would only be needing the cleaning equipment and a handful of employees as your start. 

There’s an option to scale this as well especially if you enter business-to-business agreements. This covers hotels, restaurants, cafes, small offices, and more. 

Option 4: Set Up an Online Tutoring Business

Cost: Php 2,000 to Php 20,000

Requirements:

  • Computer
  • Headphones
  • Web camera
  • Microphones

Overview

In this modern time, learning has become more accessible. Having a tutoring business will enable you to share your knowledge with an increased reach. There are many possibilities for a tutoring business as your services may depend on your expertise or passion. You can be an academic tutor who will supplement their school coverage or a college entrance test tutor who will expose college-seeking students to examinations. There’s also an option to cover arts and teach your audience painting, singing, playing musical instruments, and more. 

Option 5: Start a Writing Agency

Cost: Php 3,000 to 5,000

Requirements:

  • Domain Name and Website
  • Relevant Writing Tools

Overview

If you’re a budding writer out there, there’s also an opportunity to grow by building a writing agency. You have two options – get clients and write for their business needs or invest in your website and earn passive income with it. 

If you’re not yet familiar with how to manage your own websites or blogs, it’s better to learn the ropes first by going with the first option. However, if you’re confident with your skills, there’s no problem in leaping to the second option. Just make sure that you’re writing that you’re passionate about to keep you going as you expand your business. If client demands are too much already, feel free to hire other writers that you can take under your wing.

Option 6: Invest in a Piso WiFi Vending Machine

Cost: Php 15,000 to php 20,000

Requirements:

  • Internet Hotspot Device
  • WiFi Vendicng Machine
  • Unlimited Broadband Plan

Overview

According to study, Filipinos spend 11 hours on average per day on the internet. Despite this, there are still people who fail to have access and this is where this small business idea can come in. 

A WiFi Vending Machine will enable people to connect to the internet at a limited time. All you have to do is to purchase this equipment and use it as a hotspot source that will charge a fee per minute. It can be as little as Php 1 per 5 minutes but you may also offer “discounted” deals at Php 10 per hour. 

Be Bolder With These Business Ideas! 

Now that we have shown you some of the best options, have you found something that you’re interested in? There’s a big world out there with endless possibilities even with a small capital at hand. Just make sure to study the intricacies of your business, from the target market.

Liston Manok Business

Searching for a career that will cater to your everyday needs while serving others is difficult. There are not enough options that are rewarding internally and externally but one emerging job satisfies both: being a financial advisor. Interested in entering this career path? Here’s a detailed guide on how to be a PRU LIFE UK Financial Advisor.

Why PRU LIFE UK? 

PRU LIFE UK’s mandate is to be of service in the whole of Asia through its life insurance products. The company has a strong presence in the Philippines due to it being tagged as an insurance provider that offers the most affordable premiums in the market. This led to them being the 2nd insurance company on NBAPE’s list this 2022. 

Aside from its winning ways with customers, PRU LIFE UK also puts a premium on its employees, particularly financial advisors. The company’s performance has been moved forward by the dedication and strength of its people.

What does a PRU LIFE UK Financial Advisor do? 

A PRU LIFE UK Financial Advisor mirrors a critical role in the financial journey of a person. Listed below are its main job descriptions:

  1. Guides in setting up the financial goals of the client through needs-based analysis and one-on-one interviews.
  2. Works with clients in drafting their comprehensive protection package and overall investment strategy anchored on the person’s background, target in life, and current budget.
  3. Covers investment advisory, estate planning services, and other offerings that will help take care of the future generations of the client.
  4. Undergoes policy updates and reviews as critical after-sales services. 
  5. Assist in monetary compensation once the client becomes disabled, gets sick, or dies. 
  6. Continuously prospect new clients, come up with new leads, and onboard partners.

What are the requirements for becoming a PRU LIFE UK Financial Advisor?

Step 1: Attend the Build Your Business (BYB) seminar – Entering the life of a financial advisor is a process. With the help of Build Your Business, PRU LIFE UK will orient you on the intricacies of the job and how you can grow this from corporate work to a business. 

Step 2: Complete the Online and Classroom Training – PRU LIFE UK puts importance on readiness and its training series is its tool to achieve this. There are two legs where your attendance is a must – the online training (which can be taken in the comforts of your home) and the classroom training (which is held in PRU LIFE UK’s headquarters depending on your available schedule). 

Step 3: Take and Pass the Insurance Commission Examination – Keep in mind that every financial advisor has undergone the Insurance Commission Examination. This is made up of two parts – the traditional life insurance and the variable life insurance. Don’t be intimated by this as these topics will be covered in your training (Step 2). 

Step 4: Fulfill All Documentary Requirements – After passing the exam, you’ll have to pass a few papers. Rest assured that the company will guide you as PRU LIFE UK has in-house secretaries that will drive the submission process. 

Benefits of Becoming a PRU LIFE Financial Advisor

  1. Flexible in Time and Place

    Flexibility is one of the most rewarding benefits of having a job. Being a PRU LIFE UK Financial Advisor will allow you to work at your most convenient time in your most convenient place. 

  2. Endless Income Opportunities

    There’s no ceiling on how much you can earn in this position. The more people you lock deals with, the higher your commission would be. PRU LIFE UK is one of the most generous partners out there in terms of commission rates. 

    They also have travel perks, both covering local and international when their agents perform and achieve their stretch targets. There are also monthly promos, such as raffle draws, where eligibility will depend on your monthly sales. 

  3. Service to the People

    Becoming a PRU LIFE UK advisor is a fulfilling job. As individuals who need to pay the rent, this job will definitely help you in that aspect. However, outside this personal aspect, there will always be satisfaction in providing value to your client’s life through your sound financial advice.

PRU LIFE UK Financial Advisor Application

Frequently Asked Questions

Do you need a college degree to become a PRU LIFE UK Financial Advisor?

Yes, the basic qualification of being a PRU LIFE UK Financial Advisor is that you be a college graduate. Another requirement is that you must be of legal age at the start of the process. 

Do we need to shell out money?

The Insurance Commission Examination requires you to pay an examination fee of Php 1,010. The other items though, such as the BYB and the training, won’t require you to shell out money. 

Are you interested in becoming a financial advisor? AXA Philippines is looking for a financial advisor. You can attend a FREE WEBINAR and see if this role is for you. Simply fill up the form below to get started.

Please indicate your mobile number in order to receive the application status
You must be at least 18 years to apply for this job.

In recent years, the idea of an ipon challenge has become more popular, and dare we say, more effective with Filipinos. We’re huge fans of them ourselves here at PesoMatters for two reasons. One, it makes the normally arduous task of setting money aside more fun, making us more inclined to get into it in the first place. Two, it teaches us to be systematic about saving money. Instead of just setting cash aside when we feel like it or slipping a handful of bills under our mattress when convenient, we’re compelled to follow a set of rules, which makes us more likely to stick to the program long enough that we see actual results. If your salary is not enough for you to be able to save, you can start selling any of the best products to sell online in 2023.

To help you get started on your own, here are a few suggestions that you can try this 2023.

The 52-Week Ipon Challenge

What it is: This weekly savings challenge is popular because it allows you to pursue a savings goal at your own pace. You start with a small amount, to get yourself used to the habit of saving, but as you raise the stakes by a fixed increment per week, you’re able to accumulate a decent savings amount by the end of the year.

How it works: On Week 1, set aside a starting amount you’re comfortable with, which will also serve as your weekly increment, say P20. On Week 2, increase the amount you set aside by your weekly increment. So from P20, you now set aside P40. On Week 3, increase P40 by the weekly P20-increment, and set aside P60. Continue on this trajectory, and by the time you reach your 52nd week, you’ll have saved a total of P27,560.

Click here to download an Excel template you can use for your own 52-Week Ipon Challenge.

The Monthly or Bi-Monthly Ipon Challenge

The Monthly or Bi-Monthly Ipon Challenge

What it is: If you like the way the 52-Week Ipon Challenge is set up, but would rather save money on a monthly or bi-monthly basis, you can simply apply the same concept of increments to your chosen time frame.

How it works: Just like before, start with an amount that you’re comfortable with, which will also serve as your monthly increment, say P500. On Month 2, increase your monthly savings by P500, which should give you P1,000. By the end of 12 months, you’ll have saved P39,000.

Click here to download an Excel template you can use for your own Monthly Ipon Challenge.

The Fixed Amount Challenge

What it is: A simpler ipon challenge, this one only requires you to set aside a fixed amount—can be P50 or P100—every day or every week, depending on what you’re more comfortable with.

How it works: Assign an envelope or a piggy bank where you can put your daily or weekly fixed amount every day. If you save P50 per day for an entire year, you’ll save P18,250. If you save P100 per day for an entire year, you’ll save P36,500.

The Sticker Challenge

What it is: Every time the -ber months roll around, it’s become a tradition for Filipinos to line up at their favorite coffee shops to collect stickers in exchange for a planner. We thought, well, why not use that same principle, and apply it to a savings goal instead?

How it works: Choose a savings goal that you want to achieve over the course of two months from our ipon challenge templates. From there, you’ll find that each circle represents a day and the denomination that you need to set aside for that day. Every time you fulfill a goal, put a sticker on the circle, or simply shade it in. Now, it’s up to you how to go about it—you can hit several mini-goals on the same day—as long as you complete everything by the end of the time period. To make it more fun, take on this challenge with your friends, and compare notes by the end of the challenge period.

Here’s the template for both P3,000 and P5,000.

The Envelope Savings Challenge

What it is: This ipon challenge simply requires you to label different envelopes with different denominations and to fill those envelopes at your own pace. When an envelope is full, you deposit the amount into your savings account, and you start all over again.

How it works: While the denominations are entirely your choice, we suggest creating envelopes for all denominations that come in bills: P20, P50, P100, P200, P500, and P1,000. Why? Well, while an envelope stuffed with P20-peso bills may not amount to much, seeing a wad of bills may encourage you to stick to the challenge. After all, how often can you set aside P1,000?

The Swear Jar Savings Challenge

What it is: A swear jar aims to prevent people from swearing by fining them a fixed amount every time they utter a word of profanity. Over time, the jar gets filled with money, while the habit is, ideally, kicked off. This is a principle that can be applied if you have habits that are getting in the way of saving or if you have bad habits that you want to shake off in general. Think of it as killing two birds with one stone. One more thing: While swear jars work because people are held accountable for their actions by witnesses, there’s no reason this can’t work if you’re honest with yourself.

How it works: Decide on a habit that you want to shake off—say, you’ve been doing a lot of online shopping lately, and it’s hurting your finances. To help drop the habit, fine yourself a fixed amount every time you open an e-commerce app or visit an e-commerce website on your browser. Make sure the fine hurts you enough that you’re dissuaded from doing it too often. You can also use this to develop new habits. If you want to wake up earlier every day, say, no later than 7 a.m., fine yourself a fixed amount every day that you wake up later than your goal hour.

Saving is just one part of the wealth generation cycle. Find out more about the role it plays in the overall state of your finances here.

PHOTOS: Pexels.com, Pexels.com 

The last few months have forced many of us to take stock of what’s really important in life, not just because of the risks the pandemic poses to our health, but also because we can no longer afford to be frivolous with our money. To help you, we’ve created a series to help you say goodbye to unnecessary expenses and cut down on those that aren’t. Today, we’re listing down tips on how to reduce your electricity bill.

Tip 1: Make the most out of natural light.

If you’re working from home, try to position yourself right by the window where you’re more likely to get a healthy dose of vitamin D. If the weather permits, you might be able to get away with not turning the lights on for four to five hours each day. If your setup doesn’t allow for natural light, however, try to work where the lights need to be switched on anyway like the dining room, or share your workspace with another person.

Tip 2: Unplug your gadgets and appliances when not in use.

This is pretty standard, but most people don’t bother doing it because they don’t think that it’s going to make much of a difference. That may be true if we’re just looking at one category, say, electric fans, but the average household has more than just electric fans. There are laptops, rice cookers, ACs, coffee makers, printers, lamps, and so on and so forth, and each one emits what is called phantom power, the energy that appliances and gadgets consume even when they’re not turned on. According to How Stuff Works, when combined, these can make up around five to 10% of your energy consumption.

Tip 3: Stop mindlessly opening and closing your refrigerator.

Going to the kitchen and opening the refrigerator just to see what’s inside is a habit we’ve all been guilty of, but while we deserve a break, especially after spending hours in front of our computers, it does cost us. To minimize energy consumption, only open the refrigerator when you’re certain that there’s something in there that you want to eat.

Tip 4: Don’t use your gaming console as your streaming console.

Yes, it’s cool that your gaming console can also stream movies, but did you know that using your gadget in this manner also affects its energy consumption? According to the New York Times, gaming consoles can end up consuming 45 times more power than streaming ones.

Tip 5: Replace appliances and lights that aren’t energy-efficient.

It’s a well-known fact that traditional incandescent bulbs are cheaper, but consume more energy, while LEDs are initially more expensive, but save you more money in the long run. The best thing about this is that it’s an easy fix. Another switch you can do is to trade your AC and refrigerator in for models that make use of inverter technology—if you haven’t already. However, both are relatively big-ticket items, so you should only do this if your budget can accommodate it. If you can only choose one though, go with the refrigerator. It’s the only one that you can’t turn off.

Tip 6: Study your Meralco bill carefully.

The nation’s energy supplier found itself in hot water this year amid accusations of inaccurate consumption charges reflected on consumer billing statements, and while some of those have been explained as average consumption computation, others were revealed to be actual “overestimates” and “underestimates,” according to CNN. One silver lining here is that more of us are examining our bills more closely. The next time your bill arrives, take the time to check whether it’s accurate or not, and if you have any questions, don’t hesitate to raise them. After going through the trouble of cutting your energy consumption, the last thing you want is to overpay.

Want to learn how to lower your water bill? Click here!

Managing your expenses is part of how you can manage the wealth generation cycle. Learn more about it here.

PHOTO: Pexels.com

Isa sa mga pinag-uusapan ngayon sa mundo ng online delivery services ay ang TokTok Express Delivery. Araw-araw, padami ng padami ang mga riders ng TokTok dahil sa maraming bookings na natatanggap nito mula sa mga customers. Ang isang TokTok Rider ay kumikita ng 1,000 to 2,500 Pesos, depende sa kanilang sipag at oras na inilalaan. Marami tuloy ang nagtatanong kung paano maging isang Toktok operator at kung paano maging isang TokTok rider. Kung gusto mo rin maging rider, narito ang TokTok application process na dapat mong sundan.

What is Toktok?

Ang TokTok ay isang express delivery app kung saan ang isang rider ay pwede kumita ng 1000 to 2,500 Pesos. Kagaya rin ng Lalamove at Grab. ang kita ng isang rider ay naka depende sa dame ng kaniyang byaheng matatanggap.

TokTok Rates and Riders Earnings

Sample Computation: Magkano nga ba ang kita sa Toktok? Bawat booking ay may base fare na 60 Pesos at ito ay madadagdagan ng 5 pesos bawat kilometro ng distansya mula sa pick-up and drop-off destination. Halimbawa, kung ang distansya mula sa pick-up at drop at 10 kilometers, ang booking fee mo ay magiging 110 pesos.

Booking Fee = 60 pesos base fare + (10 kilometers x 5 pesos) = 110 Pesos

toktok rates
Magkano ang kita sa Toktok

Related Article: Borzo Rider Application Process and Requirements

TokTok Rider Application Requirements

  • Motorcycle or Scooter (110cc and above) – Kailangan ng maayos na motor para sa pagdedeliver o pagpipick up ng mga items. Hindi maaaring gumamit ng E-bike.
  • OR/CR of Motorcycle or Scooter – Ito ay ang magpapatunay na ikaw ang may-ari ng motor na iyong gagamitin sa pagdedeliver. Siguraduhin na malinaw ang pagkakakuha ng OR at ng CR. Hindi pwedeng wala ang anuman sa dalawa. Kung hindi nakapangalan sa iyo, kailangan ng notarize na authorization letter mula sa may-ari.
  • NBI Clearance – Para sa validation of records. Siguraduhing hindi expired ang iyong NBI clearance
  • Professional Driver’s License – Ayun sa ating batas, lahat ng taong kumikita sa pagmamaneho ay dapat kumuha ng professional driver’s license. Siguraduhing professional license ang i-uupload mo upang hindi mareject ang iyong TokTok application.

How to apply as a Toktok rider?

Step 1: Magfill out ng form dito sa TokTok Rider Application Form para sa motorcycle at Toktok Driver application para sa 4 wheels. Siguraduhing tama at kumpleto ang mga detalyeng ilalagay sa form.

Step 2: Iupload ang mga hinihinging documents tulad na lang ng NBI clearance, professional driver’s licenses at OR/CR ng iyong motor. Kailangan ay malinaw ang pagkakakuha ng litrato na iaupload mo.

Step 3: Kung sigurado ka ng tama at kumpleto ang mga detalye, iclick ang submit.

Step 4: Mag-intay ng 2-3 days para sa confirmation na iyong matatanggap via text message.

Contact Info: Para sa iba pang katanungan, bumisita at magmessage sa FB page ng Toktok Riders Application

Related Article: How to become a Toktok Franchise

Frequently Asked Questions (FAQs)

Magkano ang application fee sa Toktok?

Libre lang ang pag-aapply bilang isang Toktok rider. Wala babayaran sa pag-register.

Pwede bang non-pro license ang gamitin?

Hindi. Kailangan ay professional driver’s license.

Pwede ba ang expired na NBI clearance?

Hindi pwedeng expired ang NBI clearance

Magkano ang pwedeng kitain ng isang Toktok rider?

Kung nag-aaverage ka ng 120 pesos isang customer x 10 customers, meron kang 1200 pesos per day.

Magkano comission ng Toktok?
Ang comission ng Toktok ay 20%

Mas maliit ba ang kikitain pag may operator?

Pareho lang ang kita, may operator man o wala.

Virtual assistants have become increasingly in demand, now that there is a shift from the traditional nine to five corporate jobs to freelancing. A virtual assistant is also a job that is known to have a high-paying salary while working in the comforts of your home. If you are someone who’s looking for a job that only requires your desktop, a reliable internet connection, your ability to keep up with deadlines, and you want flexible hours, then you may want to consider applying as a virtual assistant.

But apart from these, what makes a virtual assistant different from other jobs? Read more to find out!

What is a Virtual Assistant?

A virtual assistant or VA in shorter terms is a remote employee or an independent contractor who renders services to their clients or companies locally or abroad. They provide administrative, creative, or secretarial services and they perform them in remote locations, wherever they are in the world.

People who are employed as VA work from home, sometimes following the schedule of their clients or companies. They usually perform typical administrative assistant work, but VAs have more flexible hours as their work will depend on the influx of work or tasks needed to be done.

Virtual Assistant Job Description

A virtual assistant may be hired depending on the task that needs to be done. Different clients have different needs and having a wide range of skill sets can help you land a job faster. Below are some of the things that a virtual assistant may do for their client. Some of these items may fit the job description of a virtual assistant.

  • General administrative duties
  • Data entry
  • Technical support
  • Scheduling appointments on calendars,
  • Arranging travel bookings
  • Creating SEO content or other blog posts
  • Managing social media
  • Create or edit graphics

Common Skills Needed to Become a VA in the Philippines

Now that you are aware of what virtual assistants usually do, you need to be equipped with these basic skills. Here are some skills a client or a company looks for in a VA:

Communication

Having excellent communication skills is vital as most of the work would include writing and sending emails, calling customers, and dealing business with other clients.

Time Management

Most clients always impose strict deadlines, and that’s why you need to manage your time properly to finish tasks and meet those deadlines.

Familiarity with Project Management Tools

You cannot be a VA if you do not know any software or project management tools such as Microsoft Office. VAs must also be adept at creating strategies for the development of their client’s businesses. You need to be aware of the modernities of the marketing industry, so you need to be creative and well-versed in project management by utilizing these tools.

Good Typing Speed and Accuracy

Some clients require their VAs to transcribe a meeting or conference. Most clients require a typing speed of 60 words per minute, and it must be 99% or 100% accurate.

Detail-Oriented

As most VAs can multi-task, this doesn’t mean that they have to sacrifice the quality of their work. Clients highly require clients to have a keen eye for detail, no matter how minor it may be.

Social Media Management

Everyone is heavily reliant on social media. If you are a VA assigned as a social media manager, you need to know how to use social media platforms, create events online, and interact with users online. You must also know how to promote your client’s products and services online and cross-post them on various social media platforms.

Qualifications of a Virtual Assistant

There are no fixed, and hard-and-fast requirements for someone to become a virtual assistant. Some companies require certain educational attainment, some may also ask a prospective VA to have specialized training in a particular field. Some clients and companies offer certification courses for virtual assistant skills.

But for beginners, a VA must be tech-savvy, with vast knowledge of IT-related programs and software. If you are applying as a bookkeeper virtual assistant, you must know basic accounting skills. Hence, being computer literate is a must.

When it comes to educational attainment, the youngest preference by most clients is that you are a high school or college graduate. As most companies don’t mind your educational attainment, what is important is that you know how to follow instructions, you are organized, and can meet deadlines.

You must also have a previous experience in the secretarial or administrative field. An administrative assistant is one of the usual previous job experiences of those applying to become a VA.

Lastly, you need to have excellent communication skills – both oral and written. This qualification is a no-brainer, as you will be dealing with customers and clients all around the world. Communication is crucial when you are working as a virtual assistant.

In sum, you only need relevant experience to become a virtual assistant. But having certifications and high education attainment can be an edge to land on the job that you want.

How to become a virtual assistant

Becoming a virtual assistant is not as difficult as it seems. If you don’t know where to start, here’s a quick guide to help you begin this journey.

1. Decide Which Services to Focus On

A virtual assistant is a flexible job, and there are hundreds of services you can enter. However, it would be hard for you if you take on all of these services. Based on learnings, it’s recommended to find your niche, whichever your strength is, and focus on that. It’s better to sell yourself as an expert in the field instead of a generic jack of all trades.

As a starter, you may choose around three services that you want to focus on and check in the next few months how you’ve handled them. If you’ve done well, you may add two more, but if not, better to get used to these first before expanding.

2. Fix Your Rate Card

Most charging payments of virtual assistants are not straight-forward. Your rate will still be handled on a case-to-case basis but better to standardize for reference. You may place options in your rate card depending on the nature of work and the frequency of availing your services. Make sure to base your price on your length of experience and level of experience because your client will surely take that into consideration.

As an example, always keep in mind that VAs that are tech savvy and offer services that require technical skills like search engine optimization, website development, graphic design, and video editing, will most likely charge higher than generic VAs. This is because they have invested time and money into their training as well.

From here, check on what services you’ll allow being charged per hour, per month, or on a per-project basis.

3. Legally Set Up Your Business

Make sure to legally set up your business when starting out. Decide whether you’ll operate as a Sole Proprietor or a Limited Liability Company.

The fastest way to bring your business to life is by being a Sole Proprietor since there’s no special setup for this. The only downside for this option is that should there happen to your business, your personal assets will be at risk.

Another option is through the Limited Liability Company. There are more requirements needed for this route but what’s good about this is that your personal assets are protected just in case someone sues your business.

Aside from these, it’s better if you also prepare your contracts at the start. Have your templates ready including the necessary conditions between the client and you – from the payment, timeliness of payment, specifics on the services offered, and more. This will assure that both parties are covered should something come up.

For a smoother process, it’s recommended that you consult both an accountant and an attorney. This will ensure that your moves are in place before you fully offer your services.

4. Finalize Your Branding

After you’ve worked on the three prerequisites above, it’s now time to work on your branding. This is a crucial step as you won’t be able to fully market and sustain your business without your company name and logo. Make sure that your branding will fully encapsulates the services you are offering and the kind of service you are planning to offer to your clients.

5. Craft Your Social Media Platform and Website

One of the easiest ways to market yourself is through social media. We suggest that you separate your personal profile from your professional profile so that your posts and engagements won’t get mixed up. When setting up your pages, always ensure that your branding is well-represented in your account and that the services offered and rates are clear to the potential clients.

It’s also recommended to create a website to promote your business. It’s a more formal and professional way of introducing yourself to the market. Think of this as your virtual resume so make it count. Always remember that your services and pricing should not be the main start here. Ensure that you get to capitalize on this platform by showcasing your portfolio (the past works you’ve done) to add to your credibility. Don’t also forget to include where your audience can contact you as this is the most critical part of your website.

6. Find Your First Clients

Once you have set up everything, it’s now time to jump into the real world – finding clients. It may be daunting to contact your first lead and land your first client but you’ll get more comfortable as time passes by.

7. Attend training programs for virtual assistants

Attending training programs for virtual assistants is also a great way to hone your skills and find clients. Attending such programs before starting your virtual assistant career could give you an advantage. You’ll not only learn the foundations of being a virtual assistant, but you could also learn how to find clients.

Fully Booked VA and PinterestVA are some examples of those that offer virtual assistant training programs. You can learn from their online courses, get certificates, and get access to potential clients.

Where can a virtual assistant find clients?

The shift towards remote work increased the opportunities for virtual assistants. As a virtual assistant, knowing how to stand out among others would help you find clients.

Here are the top places you can explore to find clients:

  1. Get referrals from past or current clients
  2. Land clients from social media
  3. Find nearby businesses or communities in your city or town
  4. Visit reliable websites

Get referrals from past or current clients

Your past and current clients already have an idea of what you can do. You can find new clients by asking them if they know anyone who might need your services too.  

It highlights the significance of building a relationship with your clients since they can also be a testimony to the quality of your work and your work ethic. A bonus tip is that you can give them a simple gift or token whenever they give referrals. These incentives may encourage them to refer more people to you!

Land clients from social media

Social media plays a significant role in today’s modern world, especially for businesses. Since many people and businesses use social media, it makes it a great place to find clients.

Firstly, you can explore Facebook by joining groups and creating your business page. By joining paid or free Facebook groups, you can engage, contribute, and build rapport with potential clients. Although attracting clients is good, you also need to prioritize building connections or expanding your network.

For your business page, you can use it to promote your services, portfolio, testimonies, and service rates. It’ll help your future clients connect with you efficiently.

Similar to Facebook, you can also create an Instagram account for your business or services. Although Instagram doesn’t have the same functions as Facebook, you can still use it to showcase your work. It’ll help your potential clients get to know you further.

Apart from those social media apps, you can also create a website for your business. You can promote it on your social media accounts too!

Find nearby businesses or communities in your city or town

Going out of social media, you can also find clients in nearby businesses and communities. Try meeting people from your city or town to make connections. It’s also a great way for you to meet your fellow freelancers and learn a thing or two from them.

The goal of exploring social media and your local community is for you to reach where people are. It doesn’t only enable you to reach your family and friends, but also strangers and fellow virtual assistants. Immersing yourself in diverse communities will enlighten you on the needs of your target market.

Visit reliable websites

One of the easiest ways to scout opportunities is by visiting websites that are popular for freelance writing job postings. Here are some of the best ones that you can visit as a starter!

  • FiverrThis platform is one of the friendliest websites for starters. Although you won’t find a lot of high-paying opportunities there, it can be your stepping stone to building your portfolio and helping you build your professional experience.
  • FlexJobsFlexJobs is a job board that presents all remote work, both freelance and part-time, that you can apply for. They have a strict posting process that’s why it’s known that all the opportunities listed here are real. Because of the work done in preserving their name, they require all members to pay $14.95 per month. What’s good about them is that they offer a 30-day money-back guarantee. If you feel that their services and chances of landing a high-paying job are low, you may opt to ask for a refund.
  • UpworkUpwork is home to a lot of freelancers in the world. Because of the demand on this platform, there is a high chance that you’ll get a job lower than what you expected. The main advantage of this platform is that it has a user-friendly interface, making your chances of finding a job higher than the others.

Is it hard to become a virtual assistant?

The tasks performed by virtual assistants are similar to administrative or secretary work. The job might seem overwhelming due to the long list of administrative work; however, virtual assistants could have specific jobs based on one’s skill sets. For example, a virtual assistant may focus only on bookkeeping, customer support, or research.

Since virtual assistants work remotely, it eases the burden of frequently going to the office. Also, working from home allows you to work for different companies at once.

In terms of education, a college degree is not required to become a virtual assistant. However, having a degree will help you land your ideal clients. Virtual assistants are mostly required to undergo training and earn certifications. Since there are lots of administrative work, enhancing your skills is essential for the job.

Here are some of the skills that you can improve the quality of your work as a virtual assistant:

  • Organizational skills
  • Communication skills
  • Technological or Computer skills
  • Multitasking
  • Time management
  • Interpersonal skills

How to get my first job as a virtual assistant?

Searching for jobs online is a great start for new virtual assistants. There are many job postings for virtual assistants online, where you can filter them according to geographic location, salary, job type, schedule, company, etc.  

Jobs for virtual assistants are not limited to corporate companies. You can also apply in other industries such as healthcare, real estate, law firms, marketing agencies, and engineering firms. 

For your application to stand out, you can highlight your skills and the things you can contribute to the company. You can also share your achievements from training and workshops.

However, before you start your first job as a virtual assistant, keep in mind that you need to have equipment like a computer, microphone, and camera. If the job requires specific and specialized equipment, companies often provide them for you.  

How many hours do virtual assistants work?

Virtual assistants usually work for a minimum of 20 hours per week. However, some virtual assistants can work for less than 20 hours. Since it is much lower than the usual 30 to 40 hours per week, companies could decrease their costs.  

Also, there are available full-time and part-time jobs for virtual assistants. Some are required to work for specific hours while others are given a deadline instead.

For clients looking for a virtual assistant, requiring a minimum of 20 hours per week means that they could only work for you a couple of hours per day. It allows the virtual assistant to work for another client simultaneously to earn more. Hence, there are tendencies where they won’t be able to respond or attend to you quickly.

Are virtual assistants in demand?

Virtual assistants are considered an in-demand job due to the growth of online businesses and remote work. More companies have also begun outsourcing, which increased the opportunities for virtual assistants. By hiring virtual assistants, companies could have a diverse pool of talent, reduce the need for office space, lessen the burden of managing employees, and reduce costs.  

These are the specific in-demand virtual assistant services that companies look for:

  • Cold-calling
  • Taking customer calls
  • Email communications
  • Customer scheduling
  • File management and maintenance
  • Social media marketing
  • LinkedIn lead generation
  • Website design and development
  • Bookkeeping
  • Video editing

Companies hire virtual assistants to perform common and repetitive but essential tasks. By doing so, they can save time and focus more on other factors to further grow the company.

Is there an age limit for virtual assistants?

Age does not matter when applying for a virtual assistant job. As long as you are of legal age, you can work as a virtual assistant.

Apart from age, clients focus more on your skills, discipline and work ethic, communication skills, and willingness to learn and ask for help. These factors emphasize that being tech-savvy is not enough in becoming a good virtual assistant.

As mentioned earlier, clients also look at your education, training, and certifications. Examples of the certifications that you can earn are Certified Virtual Assistant, Microsoft Office Specialist, Google Ads Certification, and Language Certification.

How much does a virtual assistant make?

In the US, the average base salary of virtual assistants is $24.42 per hour, making it $73,555 per year. For basic jobs, the salary range is $8 to $12 per hour.

Since virtual assistance is remote work, you can also apply to more expensive cities or countries, which may increase your salary range. In the US, the top five highest-paying cities for virtual assistants are San Francisco, Fremont, San Jose, Oakland, and Tanaina.  

You can increase your income and earning potential by accommodating more clients, building a stable clientele, and specializing in services.