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Barbecue Business Idea – Thinking Of A Business Name

Another thing that’s often taken for granted by Filipino Micro Entrepreneurs is that no matter how small your business is, it should have a business name. It serves 2 main things:

  1. Having A Name Means You Mean Business – People get the impression that if you do not have a name, means you are not totally serious about your business. They might like your products, but could just forget about you tomorrow. You do not have a presence, and thus your total impact is lost.
  2. Exposure – This is a no brainer. If you are serious in your business, wouldn’t you like people to say your business name? Think about it, people would ask “where did you buy that?” and another will just respond “dun kay ate / kuya… yung ano…” Sounds pretty? You get the point.

It is of course better if someone would know your name right away along with the products you sold. Branding is important, and having a particular name would make your business stand out and be spoken about. It should always be a part of your business idea, and best addressed as soon as possible.

The Name Is A Part of Our Business Idea

In our case, we have planned all along that we need a name for our bbq business. I would like the business to be known one day and have customers speaking about it. I also want the business to be acknowledged legally one day, register it to the government and operate legally. This would also serve as a defense against those who would possibly want to rid of us. If you are a legal business, you could be almost untouchable versus other micro competitors. Regardless of how connections do they have, you could present that you are legal in every way possible, unlike them that just spurted out of the blue.

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Micro Planning: What’s The Best Startup Business?

Being a startup business in the Philippines is unquestionably a pain. Initially, you’ve got to stress about your capital. Sure, there are funding options within the country, albeit a small number of them. The matter however lies upon paying the loan. Banks and private institutions get hefty interest rates, government loaning largely leans on using your Social Security pension, and you always ought to have a decent credit score to obtain a good worthy loan amount, if not you have got to mortgage a number of your items / properties simply to get one. I’m not too positive, however on what I have seen, should you desire a loan, you need to be able to pay it off immediately starting after 30 days of your loan. You are already paying it off even if you still have not seen an ROI in your business. Not a very good plan.

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The Kids

Struggles in The Beginning Chapter

Considering our standing in our everyday lives, we as a family are, in all honesty, living in the balance. We rent an apartment unit in the middle of the city. While we do have a couple of properties in the capital region – one is a subdivision unit, already fully paid and the other, a piece of land in a hard to access location – we still decided to stay in this apartment because of a few main reasons:

  1. I used to study in a school near Taft. In those properties, daily commute to school will be a drag.
  2. My mother used to work in Makati, and like me, had problems commuting to work
  3. Work-life balance is typically non-existent for us in there. I had to travel a few hours just to meet friends, and I cannot stay long because of the commute back.

The apartment we are renting currently is just in the right standards. It’s easily accessible, hospitals are quite near, and the street has a lot of foot traffic. Drawbacks, rent is high, and the area was flood prone – but is resolved now since a pumping station was built.

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