Are you still looking for a side hustle? In my previous article, I have discussed about the "Seven Earning Opportunities to Start Without Joining Fee Involved". This time, I would like to share about small business opportunities that involve minimal startup capital. These are all actually business opportunities that need no physical shop or store in order to operate. You can even do this at home with mobile phone or computer and data connection only. So, in this article, learn how to earn through eload business, ewallet business and online selling.
Disclaimer: Everything that found in this work are not professional advice. Ideas and insights come from the author's knowledge, observation and experience only. The author and the site (the read.cash) as the publisher shall not be held liable or responsible for any misunderstanding or misuse of the information in this article.
Become an eLoad Retailer
eLoading is very popular in the Philippines for it is convenient, instant and easy to buy anywhere in the country even in a small store (sari-sari store) in far-flung areas. With fast growing mobile users in the country, why not start as an eLoad Retailer? You are not only helping people around you but you are also having an extra income.
To become an eLoad Retailer, you must have a mobile device whether a basic or a smart phone, a retailer SIM and a LoadWallet. If you have an extra or old phone or a keypad but still working, you can use it for eloading. A retailer SIM can be purchased on eload stores or malls nationwide. It's up to you then how much should you start with your eloading business. You can fund initially your LoadWallet with Php 500 or $ 10 or even less or it depends on your budget.
LoadWallet - is a load stored electronically in a retailer account or SIM. It is used to sell regular or promo load to your customer or network subscriber.
You might be wondering now how much is the needed capital in order to start this business. So, let's compute. For a retailer SIM, it costs you more or less Php 150 or $ 3. For your LoadWallet, let's say you'll fund it with Php 500 or $ 10. For a basic phone with dual SIM slots, it costs you more or less Php 500 or $ 10. Now, for Globe and Smart retailer SIMs, you need at least Php 300 or $ 6, plus LoadWallet worth Php 1,000 or $ 20 for both SIMs (Php 500 or $ 10 each SIM) and a phone worth Php 500 or $ 10. All in all, it totals to Php 1,800 or $ 36.
What's the catch now? You might be asking now how much should you earn from eloading. For both retailers, Globe and Smart, you will earn more or less 4% every load dispensed to the customer. Retailer margins sometimes depend on the load denomination, the higher the denomination, the higher the earnings you will receive. For lower load denomination like 100 or below, you can charge additional Php 2 or 3. Some retailers in our city charge a subscriber with additional Php 5 on top of the load denomination he or she purchased.
Note: With Globe Retailer SIM, you can load customers or subscribers of Globe Mobile Prepaid, TM, Cherry Mobile Prepaid, Globe At Home Prepaid WiFi, Globe myBusiness Prepaid, etc. With Smart Retailer SIM, you can load customers or subscribers of Smart Mobile Prepaid including Sun Cellular, TNT, PLDT Landline Plus Prepaid, PLDT Home WiFi Prepaid, Cignal, MERALCO, etc.
Becoming an eLoad Retailer doesn't require you to have a physical space in order to start. You can start actually selling load to your family, relatives and friends. eLoad has been part of every person's necessity. So, you won't lost a customer as everyone are using now a mobile prepaid phone and mostly, students who attend online classes need a load or data for their prepaid WiFi.
Do you know that you can also dispense load to all networks without buying a retailer SIM? Find out how in the next section of this article.
Become an eWallet Provider
eWallet is becoming popular now in the Philippines especially during the COVID-19 pandemic. As a safety protocol to lessen contact with crowded places, people are now relying to purchase their needs online via contactless payment like using an ewallet. With fast growing ewallet users in the country, why not start as an eWallet Provider in your area? You are not only helping people to lessen their exposure to COVID-19 but you are also having an extra income.
To become an eWallet Provider in your area, you need to have a smart phone, data connection, an ewallet account and initial capital for this business. Let's say, you have already a smart phone. So, you won't need to purchase one. All you need to do is download an ewallet app in Google Play, register an account, verify your account and fund it.
To name some ewallets available in the Google Play, these are Coins.ph, DiskarTech by RCBC, GCash, GrabPay, PayMaya, PayMaya Negosyo and PayPal. For now, I can't discuss this one by one but maybe in my future writings. I'm just giving you a hint that these are all great and legit.
Your fund depends on your budget how much should be your initial capital. You can start at least Php 2,000 or $ 40. If you earned BCH from noise.cash and read.cash or other earning sites, you can send it to your Coins.ph BCH wallet, convert it to your PHP wallet and sell it as an eload for all networks.
With Coins.ph Buy Load service, you'll earn 10% discount every load dispensed to your customer but you have a monthly limit of up to Php 2,000 or $ 40 only but you will get unlimited 5 % every load transaction beyond the Php 2,000 limit. So, if you are not buying a retailer SIM for eload business, Coins.ph is an alternative. You can also avail of other ewallet Buy Load service but most of them do not offer discounts or rebates.
Now, let's talk about your income as an ewallet provider. Since ewallet services do not have rebates unlike an eloading, it's up to you how much should you charge for every transaction. See to it your expenses like additional charges when you cash in your ewallet account. Example for GCash cash in via 7 Eleven, you will be charged with 1 % of your cash in money. On the other hand, you may choose other cash in options that are free of charge.
For same ewallet to ewallet transfer, you may collect additional charges of 1 or 2 % every transaction. For ewallet to bank transfer, you may collect additional charges of 1 to 2 % every transaction plus bank transfer fees of Php 15 or some banks Php 20 and up.
Become an Online Seller
Just like eload and ewallet business opportunities, online selling is very much popular in the Philippines now. As I have said earlier, people rely now on buying their needs via online due to the spread of Corona Virus. So, why not go with the trend and earn some extra money.
To become an Online Seller, you must have a smart phone or computer, an online shopping account or Social Media account, a bank account, a Government-issued ID and a startup capital. You can actually start selling via your Social Media account or page without any requirements. All you need to do is post and share photos of your products with the description of each product, your mode of payment and shipping option. Meanwhile, to start selling with an online shopping service like Lazada and Shopee, you must first sign up as a Seller through their app or website. For Lazada, download the Seller Center app and for Shopee, download their customer app and sign up as a buyer and as a Seller.
After sign up, you can start uploading the photos of your products and its description including the product price and other important product details. Choose products that are saleable and easy for you to replenish.
So, how much would be your capital for this online business? I think this will depend on your budget and the kind of products would you like to sell but maybe a Php 5,000 or $ 100 would be enough as starting capital. You can add up later if your products are fast moving.
Tip: When buying your products, you can buy it by bulk or bundle or become a dealer of that particular product so that you can save more from your expenses. Have an extra cash of at least Php 3,000 to 5,000 or $ 60 to $ 100 as emergency funds. You can use the funds for your expenses like fare, shipping fee, packing materials and others.
There are sellers but not all are selling online with 100% or even 200% markup price for their products. Example, the original price of a particular product is Php 100, they will sell it into Php 200 and sometimes Php 300 or even more. For me, it's not reasonable. It's not even affordable to your customers. If you would like to really have sales, just price your products with a reasonable price. Maybe a 10% to 20% markup will do.
Tip: If you are selling via your Social Media account, deal only with people who are interested to pay. Beware of bogus buyers and joy reservers.
Final Thoughts
All business opportunities presented in this articles are not a get quick rich opportunities. Although, you are getting an income but this is just a sideline and can't even replace your corporate job. But if you are serious and willing to do this opportunities, it can really produce food in your table.
To wrap up, you have discovered on how to start a small business using your phone even a basic phone, a smart phone or computer and internet data while staying at home especially this pandemic. These business opportunities are very much popular among Filipinos, easy to set up and instant earning. There are three opportunities being tackled in this article - becoming an eLoad Retailer, eWallet Provider and Online Seller.
09092021
Author's Note
I started writing this article last September 6. On September 8, I'm about to finish this but unfortunately, my Text Editor app suddenly crashed and my drafts including my other works were gone. There's even no other way to recover all those things. I have no choice but to start all over again. I decided then to write using a paper and pen before I write it again in the Text Editor app to be ready for publishing.
About the Author
Just call me Frank. Exploring cryptocurrency since 2015 is my enthusiasm and writing since I was young is my passion while helping others in whatever way that I can is always my heart's desire.
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Nice article it has a lot of information for small businesses na pweding e start sa simpleng paraan. late read busy kase this past few days. hehe