Christmas is a prime spending season:
- It’s the season of giving – people are more willing to spend on others during Christmas.
- It’s a season of pampering and indulgence – Aside from stuffing themselves with tons of food, many people plan to spend (or splurge) in Christmas time. It’s the end of the year, they’ve worked hard to get to where they are, now they want to celebrate.
- It’s a season of temptation – Christmas time is when stores flash sales, mega-sales, 0% interest schemes, buy now pay later promos, etc. all sorts of enticements to get people to spend.
- A lot of buyers – people are willing to spend on themselves and others during xmas, they are looking for unique gifts to give
- Opportunities to sell – bazaars are everywhere, companies need suppliers for a lot of gifts,
It might seem opportunistic – and it is! Building wealth is about recognizing and taking advantage of opportunities as they present themselves.
Here are some businesses you might want to consider:
Focus is on Gift Items
Option A: simple buy and sell – clothes, accessories, gadgets, etc.
Look for goods that are unique from those of other competitors or things that are usually found in bazaars. You have enough time to import them! If you have a kamag-anak abroad have them send a box over.
Option B: homemade goods – cakes, cookies, chocolate, jam, etc.
This is perfect if you’re really good at food and can package stuff in a pretty way! Just make sure you test your products (and also test producing in large quantities). You should know your ‘eat by date’.
Option C: Something Crafty and Personalized
Create unique and/or personalized christmas decorations. Decorate boxes
Focus on Season Related Services
Option A: Personal Gift Shopper
Do you like to shop? Or are you always at the mall? Do you like to find quirky things? You could be a personal gift shopper. Some people are too busy to shop for gifts whether its for their family, friends and especially their work colleagues and contacts. All the client needs to give you is a list of people and a little indication of what kind of gift would be appropriate and their budget. Charge a fee on top of the gift or a flat rate for the service – your choie.
Gift Wrapping / Christmas Packaging
Again, people can be too busy to do this themselves. Whether they want simple wrapping or impressive wrapping. Head out to Divisoria
and grab a ton of wrappers, ribbons, scotch tape, ornaments, cards and the like and put your creativity to good use.
Catering or Pre-Cooked Party Food
Be hired for your superb cooking! Cook the food for parties of 5 -10 -20… whatever you can handle. Whether the party is at someone’s home or at some venue you can pull it off.
Even if you intend this solely as a seasonal business–the following rules apply!
1. Know your market – who are there, where do they buy, how much they are willing to spend, which bazaars they go to…
Some markets you can immediately consider: your network (friends, family, officemates), local bazaars, kamag-anak abroad who want to give something different and special to people here in the Phil, etc.
2. Know your competitors – do they sell the same things you do, how much, how do they promote themselves, etc.
3. Keep detailed records of your investment, expenses and sales so you can manage your finances effectively.
A note about payments: one of the worst things that can happen is that you spend your money (or use your credit card) and then people don’t pay you (for whatever reason). Consider taking a non-refundable downpayment (especially for services where you have an out right expense).
A note about limits: Don’t get too much business that you can’t possibly serve all of them. Live to sell another day/season – then next season get reinforcements!