2020 has taught us how the world can take such an unprecedented turn. This is why this year, having multiple sources of income would definitely be an advantage. If you have a spare room or unused space in your condo unit, now is the time to maximize it for an online business or events. Take time to prepare, and check if you might need event insurance in the Philippines, to increase your security and confidence in the process.
To give you a headstart with this venture, here are 5 easy business ideas for condo owners:
Take your talent for sweets to the next level! If you have learned about baking colored pandesal or keto desserts during lockdown, see if you have what it takes to make more for money. Additionally, there is a steady market growth in the Philippine food industry today. So once you are in it, be sure to make the most out of it.
Arts & Crafts
Embrace your creativity by making handmade goods for sale! Earn extra with personalized cards, decor, accessories, or upholstery. With some trusted suppliers, you could also look into selling indigenous products to differentiate your business from that of mainstream ones.
An alternative to creating something would be repairing it. Having a repair or sewing and alteration shop is very handy for thriftier customers. Items like misfit clothes from online shopping and overused house items are likely to be your clients’ regular issues to fix.
Buy & Sell Websites
Known as website flipping, this is your typical buy and sell business model—but in the digital arena. While others take time to create their own websites, some find better opportunities in buying, selling, or auctioning them. Just make sure to do your research before engaging with various website marketplaces, to ensure yourself only legitimate transactions.
If you like doing some extra work with a flexible schedule, then freelancing might be the answer. Bring out any of your hidden writing, design, coding, or other digital-heavy skills for a side hustle. This could also be an opportunity for you to enhance your skills, in order to get a higher-paying full-time job in the future.
Risks are expected with any business, so only take calculated steps towards reaching your goals. Think ahead by getting an event or condo insurance in the Philippines, and minimize the effects of potential losses you might encounter along the way.