⌛ i need an advise please

How much does it cost to start a franchise of Jolibee?
Read it on the website of Jolibee:
Jollibee - The Official Website

 

Jollibee franchise ranges from 15M to 30M (USD266,445.00 to USD532,890.00).

 

Small businesses are everywhere, but only a few actually have made it to the top. Obviously, if you are like me, you look at a small business as a sizable investment because no matter how small it is, there is still a start-up cost to pay. In this day and age, people are looking to save as much money as they can. Unfortunately, the economy isn’t what it used to be and people have had to adjust. But yet, even in these hectic times, time is till moving forward, and everyone is looking to become an entrepreneur.

One of the vital things in a starting a business is location. It often decides whether the business thrives or dies. Choose several places and survey human traffic at specific times of the day—preferably morning, lunch time, and at 6 pm. If the location is mostly packed with crowds, and the rent is reasonable, then the place is worth trying.

Strong will. Many will dissuade you. Proceed with sturdy confidence but put allowance to some letdowns—first times are prone to mistakes. Feel free to ask advise for further enlightenment.

Hard work is a given. Often it means the owner will man it himself for months or even years.

All the business success elements must be there: information, will, hard work, and faith to sustain all three. Then scratch starts to translate into cash.

last december 27, 2010 i started selling 2 bundles of ukay-ukay items (with a capital of less than 20,000 pesos), and after a month it's now worth more than 100,000.00 (the ukay store is in our own garage here in Piapi). and now, this coming Sunday April 10th, we will be opening our newest ukay store in front of Foundation University (target customers are students).

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"My Business may be small, but I think Big"

 

Fantastic! I love success stories! :D

 

I know a fellow who started out three years ago selling Fortune Reds at a stop light in Mandaue.
He saved up money earned at his job and bought a carton of 10 packs and built up from that to a fairly nice Sari-Sari store near where he normally sold his cigarettes when I first met him.
His response to my question as to why he picked that spot was, "I tried many places and know this is where I sold the most, so I knew there was a need right here".
If he had started out with more money, he probably would have built his store in a different area without roaming about the city and finding this spot.
I feel that he would have failed at this endeavor because he would not have had the incentive or ambition to seek out the best place to sell.

 

I agree with what others are saying.

1. If your talking about 100k peso's that's trash as far as any business goes... your talking a Sari-Sari store or some such but no real business. That's not enough to get a resteraunt set up and running, a bakery, an internet cafe, or anything else for that matter. But if its NOT peso's read on.

2. Business's here very, very, very.... very commonly fail. Poor planning is often the reason but sometimes just a bit of bad luck. You need to make sure you plan out who specifically you'll be selling to and make sure that group of people have money. For instance a sari-sari next to 10 other sari-sari's won't have any business because of too much competition. Who's going to use an internet cafe way out in nowhere? Can your minor business really afford a more expensive prime placement building space rent?

For an internet cafe to be successful you need to find a place close to where people with middle ground money live or better very short walking distance to a university. But do you have the setup know-how? Will you be really dependent on others to manage it? Is there 5 other internet cafes nextdoor?

One of the best/safest is probably though aiming for a standard franchise that is popular as long as you have a decent placement, start-up funds, and a bit of know-how. The other would be building rental places such as duplex's / apartments for the increasing foreign crowd.

However lastly expect any good business to not start turning a profit or balancing even for 3-6 months from the day you open the door to the customers. You'll for a few months still be losing money numerous ways so expect that it will take a bit.

 

You are better to think of four to five years of losses or just scrapping by.

 

The first 3 years is always been a striving years, after 3 years you will know if you're doing good or not. But most businessman after 3 years could tell that they're successful. Please do a lot of survey and feasibility study on the area you wanna open a business, it would be a great help for your success.

Bad side of Dumaguete, it's a small city and commercial space are too expensive to rent, didn't balance the class of people in the area.

 

I'll also add in most Franchises cost $100k+ to start and get the franchise liscence. There's a specific one I think would do real well in Dumaguette but I don't have the start-up funds of a small fortune just laying about to get it going. I'd be hard pressed just to afford the base equipment outside what the company itself says you need $250k capital investment along with a large upfront deposit, large cost for franchise licsense, and regular cost payment to the franchiser company.