Hehehe, its been a while, so what's my update?
1. Philanthropy work. My kumpare decided to be the coach of the basketball team in our village. One of my "troublesome" nephews is a member. The team members are mostly the youths in our village, it is a Junior team. It seems that, at present, they are well organized with early morning jogging occurring three times a week. I saw changes with the tambay guys in my village now that the team is around, they are more disciplined, and my nephew, in my observation, changed a lot in many ways, attitude wise. So…what's my role? Hehehe I am the financier.. "Abroad eh"…I just recently committed to shell out 8K for the season, covering their entry fee for a tournament, and uniforms, the rest of the amount kung kukulangin will be solicited from guys "somewhere else", which I volunteered to write the solicitation letter, and to print it for free from my home computer. O diba? They are now planning for a community dance party at our village plaza to launch the team…with some guys volunteering their home component for free, and some mothers volunteering to cook some food for the event…still in the works though. Lets see.
2. Business. While watching the TV, I saw an advertisement about Xerox machines for rent. I called them up, talk with the lady in charge about the details: they will provide everything, paper, ink, maintenance, etc and they charge 65 cents per copy. I can charge 1 or 1.50 per copy. The difference in the charges will be my supposed profit. It is a liquid Xerox with a reducer and enlarger. Down payment for the machine is 2T, so I decided to take 2 machines.
I am now busy renovating a small shop, in one of the best locations in the City as it is very near three schools converging right on this shop, o diba? Location, location, location daw. I asked a carpenter to make glass shelves for the school supplies, and a receiving area for customers of the copying machines. They are now in the painting stages, and putting the triple locks, and ceiling fan. The most expensive things, I bought for these renovations are the locks (3) – for me this is the most important thing, for a good reason. I am just waiting for the local electric cooperative to put the line for my electrical connections. I decided to defer the phone connection, until I am certain that this shop would be a success as I am trying to cut down costs.
My total expenses for this renovation, thus far, totaled 15T.
So this shop will sell school supplies, Xerox services, e-loads, and will bind books.
My total capital exposure for this business will be:
Electrical connections 3T
School supplies 30T
Xerox downpayment 4T
Operating expenses 5T
Monthly rental 2T
For a total of around 60T. I am not sure how long would it take me to recover my investment. I will report here what will happen to this business.
I primarily took this business because my mother has the "rights" reserve on this shop (owned by the provincial government) for the past two years, and I felt the location is underutilized. Another is I have a relative who graduated a commerce degree who can not find a job in our City, so I talked to her if she is willing to manage this business and she said yes. One of my scholars will do the weekly inventory and checking of the Xerox counter, supplies will be replenished every Saturday. Her and my scholars' salaries will be paid every Friday evening, after inventory on a percentage basis, less expense, depending on how much we have earned for the week. Weekly profits will be deposited into my account so I can track it.
3. I am visiting my farm on Thursday because my Katiwala informed me that the copra will be ready on this day….kaya ayon money on the pocket again, but then I only expect around 3 or 4T from this.
4. I am cleaning up all the land titles that I have, Deed of Sales, Mortgage contracts etc.
5. The cabs are doing fine, and I am still trading the forex, and right now I am down 8% of my NAV, hay….
I have decided to move my trip back to Saudi to August 20 (if at all)….that is why I am trying to maximize my vacation days…whatever that means.
PS: Ang hirap talagang maningil ng mga cash na pautang….minsan feeling ko parang ayaw na nilang magbayad. Pagpinilit…wala raw pambili ng bigas. So??? Ewan ko, pero hindi na ako nagpapautang ng cash ngayon…as much as possible… unless extremely important ang paggagamitan ng pera.