Small business

hello everyone!!!
Will anyone here can help me on how to start a small business like a restaurant. And what things are needed and how much. Thank you and I appreciate any info.

 

Starting a business is like investing in real estate, do your homework and start only something that you are (very)good in.
If you are a (very) good welder, start a weldingshop, if you are a (very) good cook start a restaurant.
Don't think that you can run a succesfull business just because you have some capital to invest and for the rest to depend on others.
Be also aware of having some people to work for you, they leave you behind at the moment that you need them most, so be prepared to take over at any time.

 

Firefly is right. If you really want to start a restaurant business, you should know by heart how to go about it. By now, you should be dreaming at the back of your mind how it will look like, how many tables will it have, where would you want it located, what's the color of the wall and tables and those other little details. And from then, you should try to canvass and compute how those will cost you. Also consider your expected income from the average number of person you expect to come everyday minus the rental, electric bills, salary for your helpers, detergents and other overhead expenses. Also, don't forget to consider the tax you will be paying monthly. You will be surprised that the small business you are planning will not cost you a small amount at all.

But this is not to discourage you but to make you prepared for all the coming expenses and trials in starting up a business. Once you figure out if you are ready financially to start it, then register your business name with DTI, secure a business permit or mayor's permit and apply with BIR. After all these, you're ready to go. Good luck to you.

 

I found this in entreprenuer.com this is about the BMBE LAW other knows as Barangay Micro Business Enterprise or RA 9178, I hope this helps^^


There are requirements enumerated in the application form like the total assets excluding real properties should not exceed P5M, photos of your business, etc. The application should be filed with the city/municipality where your business is located. A one-time fee of about P1K is collected. The fee varies but reasonable. Once your application is approved within 30 to 45 days, you are given a certificate of exemption or qualification signed by the city/municipal mayor. That certificate entitles you to exemption from the minimum wage law, from the income tax (but not vat or percentage), and usually a reduction in the business permit. Even with the exemptions, you are still required to maintain and register your bir books of accounts. The crucial thing here is that some or many bir offices do not recognize this bmbe law (ra 9178) because they do not release a certificate of exemption from income tax. Therefore, many bir offices still require the business to file the quarterly and annual income tax return. If you are a labor intensive company, the exemption from the minimum wage law is great. If labor examiner goes to your office, show immediately the certificate of exemption so that you will be exempted from the examination outright. You do not have to show your payroll files or have your employees interviewed. If the labor examiner insists, you invoke the law and get his or her name and threaten him or her to report to the dole office for ignorance of the law.
I hope I am able to help.

 

With so many restaurants already in town, I'd think that'd be the last business one would want to attempt..

 

everybody got to eat. it's probably one of the best businesses here in the Philippines rarely you see a filipino without something to eat handy nearby

 

I can only count two decent restaurants in town, the others I regard as decent are on the outskirts of DC.

I'm thinking of opening an Irish theme bar. but can't get Guinness in the Philippines.

so don't nick my idea eh.

 

Being a bar owner myself and the only bar that celebrates St Patricks day I can assure you that you can get Guinness in Cans and bottles and even by the keg:D Not such a new Idea is it

 

really, thinking of more central in town so I won't be stepping on your shoes at least.

Got to be one in the bigger cities then, there's no real bars in duma, I mean European type bars or American bars.

oh yes happy Fred's.

 

Thanks for all the reply guys. Sure it helps. I will not be the one who would handle the business but my family in Dumaguete. I will just help them with the expenses. So, I am doing my research to help them also. Thanks.