To Support Family Back Home
Before, many OFWs have been sending money home for everything including food, fees and basic necessities. But not all OFWs are working lucrative jobs where they can afford to send money at home all the time for basic needs. So they are looking for ways to make family back home have a sustainable income back home so that they do not fully rely on remittances from abroad. This is also relieving the burden of financial support from the OFWs allowing them to save more money that they can later put on to bigger investments like buying farms, real estate or transport business.
They need a fall back plan
While some OFWs such as the professionals have found stable careers and lucrative jobs abroad that serve almost as a safety net, the situation is not the case for the majority of OFWs,. Some work in seasonal jobs and some jobs are quite uncertain. This creates insecurity and the need to create a safety net back home that they can fall back to if things hit a snag abroad. Poultry business, due to ease of set up and potential profits for farmers provides a good sustainable business that OFWs can fall back to if they lose their jobs.
Low barrier to entry
You can create a medium sized poultry enterprise for as little as P50,000. This makes poultry farming an easy entry point for the investment minded Filipinos abroad who would like to put their money to work.
Virtual Poultry Farming
There are excellent poultry support programs such as Virtual Poultry Farming programs that now allow OFWs to invest in viable poultry ventures without worrying about the potential pitfalls of entrusting investments to family members who may not have the experience and discipline to set up a viable poultry farm.
To Save Money and Get Healthier source of protein
Many Filipinos are tired of spending too much money on Jollibee or Magnolia chicken. They want a free and healthy chicken grown in their backyard that can consume when they come home for the holidays. Dressed chicken is costly, especially if you are buying for the whole family during the holidays. If you have built a poultry farm, you can enjoy healthy delicious chicken when you come home without spending too much money on dressed chicken.
Structured Investments and Ready Market
Either as individual poultry investors or via Overseas Workers Welfare Administrations, OFWs can now they invest their money in a structured way through companies or virtual poultry programs and are assured of markets by companies such as San Miguel. Most of these poultry programs give investors a good return on their investments with some offering as much as 7% ROI.
Poultry as a Retirement Plan
There are millions of OFWs who are currently spending the most productive of the years abroad and then coming home without any retirement plan savings. With poultry farming ventures, OFWs can look forward to a more productive retirement life where they can still continue being productive and generate value for something they are passionate about.
Are you an OFW? What is your number one reason for wanting to venture into poultry farming? Let us know.