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ENTREPRENEURSHIP - is the way and doings of an Entrepreneur.
What is an ENTREPRENEUR?
ENTREPRENEUR - as Webster Dictionary says - a person who organizes and manages a business undertaking,assuming the risk for the sake of the profit.
Internet Wikipedia define ENTREPRENEURSHIP as :
Entrepreneurship has traditionally been defined as the process of designing, launching and running a new business, which typically begins as a small business, such as a startup company, offering a product, process or service for sale or hire.[1]
It has been defined as the "...capacity and willingness to develop,
organize, and manage a business venture along with any of its risks in
order to make a profit."[2] While definitions of entrepreneurship typically focus on the launching and running of businesses, due to the high risks
involved in launching a start-up, a significant proportion of
businesses have to close, due to a "...lack of funding, bad business
decisions, an economic crisis -- or a combination of all of these"[3]
or due to lack of market demand. In the 2000s, the definition of
"entrepreneurship" has been expanded to explain how and why some
individuals (or teams) identify opportunities, evaluate them as viable,
and then decide to exploit them, whereas others do not,[4]
and, in turn, how entrepreneurs use these opportunities to develop new
products or services, launch new firms or even new industries and create
wealth.[5]
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Please give your opinion and advise as I'm planning to get a food cart stall/cart but I'm not sure which one.
It's expensive...
Gaisano mall rent is 25,000 pesos for 1 food card and that's 3 months advance 3 months deposit or 150k
that's not counting malls like SM, Ayala etc.
You need an investment of 250k for your OWN cart. If you add a franchise well they're cheap at 30k to 50k but point is the contract can be muddy sometimes. There's % sharing, franchise fee etc.
So you've got two choices, make your own food cart and spend on marketing, or franchise a popular food cart business but expect a slash in profits.
You also need a product that's going to sell at least 1,500 pesos a day if want to get a profit of approximately 5k a month.
Depends on your goal:
1. If you have a full time job and don't have time to develop a product and the system, you're better off with a franchise food cart. If you force to create your own brand, only two things can happen:
a.) since you can't focus on it full time, it will take you ages before you develop your own brand and to market it
b.) mapapabayaan mo and your business will fail
2. If you have enough time or you decided to go full time, then you can develop your own. It'll require lower capital (no fees from franchise owners), you are free to be creative (you are in control) and you control the pricing. But take note --- it's not easy. It's actually more risky since the system is not yet tested.
As for my personal experience, I started with a ice scramble business I created along with my full time job. Through research and planning, it became a success (my location was very strategic, near 3 schools and since it's in a barangay, the rent was really low and my sales were very competitive). I decided to expand to different products and I realized it requires more time. Right now I just opened my 5th kiosk in a commercial area.
Good luck!
visit www.c8bestfoodcart.com for the latest foodcart concepts. Bestsellers are TATA TASYO TAPSILOGAN, ABTWERPEN BELGIAN WAFFLE, C8 BUKO KING, SIZZLING SISIG AND STEAK and PUTO KIKO among others. Be your own boss, start you business now!
Hello! This article has a franchising series you can start off with the basics: http://www.ffemagazine.com/franchisi...cart-franchise
The sample costs are listed here pati websites we can go to for companies giving away a franchise.
I'm also planning to put up a franchising business with my hubbie and so far food cart is also our choice. Let me know what happened to your plan!
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