5 Summer Businesses to Get Extra Income
Published: March 23, 2017 | Updated: June 5, 2020 | Posted by: Moneymax | Lifestyle
Summer is a good time to get extra income. You’ve seen it happen or you’ve actually done it when you were younger. Starting a small business on the side could help you add to your income – not just because you feel that your paycheck is lacking but also because there are goals you want to achieve and they’d be within easier reach with additional income to back up your paycheck.
Like any business, you’re going need to shell out capital and an idea, so here are five summer businesses that can get you started.
If you’ve already got baking skills to start with, then you’ve got an idea of flavors and how they mesh together, as well as how to ensure that what you baked are even. The cost of starting your own baked goods business is around Php 10,000 – and that’s if you’ve already got the most basic equipment: an oven.
This is the business that you would want to start with a friend or family member who has an oven and other baking necessities. You’ll want to price your creations based on the cost of ingredients, naturally.
If you’ve got a handle on social media, you can also use platforms like Instagram and Facebook to promote your products. Just make sure that your bread is well-risen, and your pastry doesn’t have a soggy bottom.
There’s probably been some point in your life that you’ve felt that you just don’t have the right accessory to go with your outfit, or you’ve felt like you could do better than an overpriced, store-bought bauble. If you’ve got the creativity (or a great YouTube tutorial like this), and an approximate capital of Php 5,000, you can start an accessory-making business.
The thing about creating accessories is that you’ll need to keep your designs simple enough so that you can easily replicate them. There are several mediums for accessories that you can work with, including recyclable materials which should keep your costs low.
Summer equals hot weather, and when people don’t feel like making the trip to the mall just to cool off, they’re liable to hit the next best thing which can be a nearby stand selling all sorts of cold treats like halo-halo. The minimum investment for a home-based halo-halo stall is at least Php 10,000 but it can go higher depending on the ingredients you want to use.
If you’re feeling a little more creative, you can make home-made ice cream from scratch, and without an expensive ice cream maker. The recipe’s fairly simple, quick, and the results are pretty good.
Drink stands usually enjoy a larger crowd during summer because everyone’s trying to stay hydrated. There aren’t as many limits when it comes to setting your drinks menu, but your ingredients will make up much of your overhead costs.
Sports centers and school canteens are great examples of where you can start this juice stand. A juice stand franchise can go as high as Php300,000 but a home-based capital for this will only cost around Php10,000 for a blender, ingredients, and operational requirements.
You shouldn’t just limit yourself to juice stands. Think about making milkshakes for people with a sweet tooth or coffee mixes for people looking for a cold brew to wake themselves up.
Online selling is an ideal business not just during summer, but all year round since it’s a great venue to sell your products. A lot of products can be found online, including hard-to-find online items. Some even use the internet to sell customized products.
You can set up a free account on sites like Lazada, Facebook, and Carousell. It just becomes a matter of acquiring capital for the products you’ll sell unless you are selling pre-owned items. The capital you will need is approximately Php10,000 – Php20,000, depending on the types of products you will buy and sell or what services you will offer.
Don’t go into business without a plan. Any of these businesses can be a source of long-term extra income.
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With a goal to help Filipinos lead healthier financial lives, Moneymax regularly publishes tips and tricks on personal finance and lifestyle, among many other topics. For more finance-related news and articles, follow Moneymax on Linkedin.