5 Profitable Business In Cebu in the last 5 years
Cebu has been the top destination in the country because of its potential of being a profitable business spot in the country. Also the exciting attractions from beaches, waterfalls, island hopping, heritage sites, luxury resorts, festival, and great food!
With all of these amazing attributes, it’s enough for investors to settle their business here. Having a population of 993,744 in Cebu City and 3,325,385 in Cebu Province, you have a potential spot for your profitable business in Cebu.
Restaurant/Cafe
Food is one of the traditional basic needs of humans aside from shelter and clothing. The main reason how we get supplements to outlive gives us vitality for distinctive exercises and growth. Especially for us Filipinos who are known all around the world for being hard working. From doing manual labor jobs to working long hours shifts.
Cebuanos are such food enthusiasts at some point. In the last few years, local entrepreneurs and businessmen started restaurants and cafes and are growing up both in the city and the province. Because of the expansion of our offices and job opportunities, and tourism.
More people want to explore and try new and better food options. Varieties such as dim sum, ramen, pizza, bbq, shawarma, burger, salad, and of course our very own Filipino dishes. The food industry is building experiences for an ever-evolving future by meeting customers where they are and exploring new dishes with family and friends.
Hostel
Even though the income per visitor is lower than hotels, hostels are productive since of the higher number of visitors and fewer comforts to preserve or administrations to offer, relative to a lodging. With that, the proportion of staff to visitors is favorable and the benefit per square meter rivals that of a hotel.
Most travelers or some call them “backpackers” stay in hostels because they are cheap, but also because they want to meet other travelers, hang out, have a good time, and exchange travel stories and tips. This is done best in a cozy environment that invites travelers to hang out and mingle.
In 2018, Cebu had the largest increase in tourist arrivals which is 14%. An estimated 5.5 million tourists landed here on the island of Cebu. And about half of these travelers decided to stay in hostels. A rough estimate of 100 hostels opened in the last 5 years all over Cebu.
Restobar/Club
As the 2nd biggest city in the Philippines, Metro Cebu has a nightlife scene nearly as energizing as Manila’s. From enthusiastic clubs to karaoke lounges, and from live music bars to Irish pubs, you’ll certainly discover a scene to suit your fashion in our list of Cebu’s most well-known nightspots. Cebuanos are famous for their fun and outgoing personalities. They love to drink, to dance, to sing, and to play music and can speak great English even from cab drivers to security guards and janitors.
You know you can’t just work your butt off the whole week right? What can we say? These tireless citizens and tourists definitely need their time to chill.
Not just a home to travelers and adventure-seekers, the booming city of Cebu is also a one-stop nightlife venue for those who want to have fun and an unforgettable time all night long.
Bars and nightclubs have been expanding both in the city and province for the longest time. Because of the high numbers of tourists on the island, booze and some good time are essential.
The progress of this business depends on the owners and staff on how they deal and take care of their customers. The more you involve your guests, the longer you stay in the industry.
Coffee Shop
Coffee shops are amazingly profitable due to the high benefit edges and low fetches of stock. Like several businesses, viable administration of costs will guarantee your café could be a success. Pass by any busy specialty coffee shop and it will likely be full of customers enjoying coffee, espresso, lattes, teas, and a variety of pastries and other goodies.
A few local coffee shop brands have been grinding lately. You can see coffee shops in almost every corner of the city especially in the metro. These entrepreneurs load their shops with fancy furniture and interiors just to catch the customer’s attention.
From 2011, the increase of coffee consumed in the Philippines is 2.1 million of 60kg bags to 3.3 million of 60kg bags. This shows that more and more Filipinos and consumers drink coffee every year.
Outsourcing Companies
Including a BPO in an existing IT or web improvement trade can be a compelling way to develop. By definition, BPO may be a commerce hone in which one organization contracts another company to perform an errand or a handle that the contracting organization requires for its claim trade to effectively operate.
Cebu has maintained its spot as one of the promising BPO markets within the Visayas, with financial recuperation anticipated to generate more occupations because it drives up property moving forward. Metro Cebu is the nation’s second-largest urban area after Metro Manila. It is additionally the most center both of the territory and the bigger Visayas locale which changes the central third of the country.
Within Central Visayas, Cebu’s IT-BPO industry is one of the province’s profitable businesses. It’s a common area for BPO center spots, particularly for those peering toward an urbanized city exterior Metro Manila. The BPO division is one of Cebu’s most prominent business generators and one of the best businesses that put up critical work advertisements. In early 2019, the BPO industry in Cebu saw a 19% enlisting growth.
Cebu is recognized as a premier investment destination outside the Philippines’ capital. Most businesses that are recruiting for employees are in Cebu City, the provincial capital, where many regional headquarters of big organizations are located.
Cebu’s success today can be attributed to the growing BPO and manufacturing industries and this may be the start of something really big in preparation for the future.
Conclusion
Known as “The Queen City of the South”, Cebu is one of the places in the Philippines where industry and manufacturing thrive. This reason makes it a good location for you entrepreneurs and businessmen to explore Cebu and set up your profitable business.
Cebu.. is a foodie promised land, a tourist favorite, “amusement city”, contagious culture, and the next big thing!
Starting up your business and investing and residing in Cebu are perfect baby steps to take towards success. Be well prepared now to achieve your dreams and be ready for the future.
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