Even those who are “greenest” or not as seasoned in the area of business will recognize what potential lies in coconuts, especially here in the Philippines. The coconut tree is called the “Tree of Life” for good reason, as coconuts are a major source of the country’s growth and livelihood and are so deeply entrenched in our lifestyle and culture.
If you’re venturing into the field of entrepreneurship for the first time and you’d like to explore low-cost and profitable ideas, you can turn to the wide world of coconuts. The coconut industry has a lot of variety; the cost of doing business with grassroots farmers, partner storefronts, and coconut product suppliers is very reasonable; and once you’ve hit the sweet spot with particular customer bases, consistent business growth is highly likely.
Want to know what kinds of products you can venture into? Here’s our list of 6 coconut-based business ideas for you to try:
- Coconut water and coconut juice-based products. Cold buko juice is the perfect respite for our tropical climate and is a go-to drink for Filipinos of all ages. In addition, coconut water is famously rich in electrolytes. Why not capitalize on this by showcasing coconut water or concocting new flavors for coconut juice? The market potential for these products is high, and you can tap into a network of coconut water suppliers in the Philippines for affordable, efficient business.
- Coconut-based sweets and pastries. For those who want to venture into home-based business, the magic can start in the kitchen. Some recipe ideas that you can test out for future selling opportunities are buko pandan, small buko pies, creamy buko ice candy, or espasol. You can begin testing at home and invest later on in more equipment when you have the resources and a better understanding of your potential customer base.
- Coconut-based spreads. Another delightful option could be in coconut-based spreads, such as coconut dulce de leche. Venturing into bottled coconut products, such as coconut-based spreads, is likely a good idea because of the shelf life of these products and lower chance of loss due to spoilage.
- Coconut flakes. Crispy coconut flakes are another set of products that you can market to health buffs. Coconut flakes can be eaten like chips and can be offered as a substitute for junk food. Options for packaging are also very reasonable for products like these.
- Vegan coconut butter. There is a major opportunity to tap into the vegan and vegetarian markets with coconut products, as coconut milk is a viable substitute for cow’s milk, and coconut oil can replace animal-based fats. You can make an impact in the animal-free, cruelty-free market with a product like vegan coconut butter.
- Coconut vinegar. You can experiment with making coconut-based vinegar by fermenting coconut water. Coconut vinegar yields a very natural and strong taste and will be a welcome addition to salads, pickles, and dipping sauces. This is another great option for the health-conscious, as coconut vinegar has a low glycemic index and is good for diabetics.
In sum, it’s wisest for fledgling businesses to start small, at a scale that they can handle. We recommend that you gradually grow your coconut-based business in particular markets, knowing that customers could be looking for healthy, vegetarian, or affordable alternative products. Also take advantage of crowds in trade fairs, foodie events, or bazaars, and strike partnerships where you can really showcase your brand without paying a lot of costs upfront, such as in commissary stores or on e-commerce websites.
Best of luck in your new beginnings in the world of business and in the coconut industry!