I had my pants repaired a couple of days ago and this morning I went to pick it up. While I was there, I decided to talk to the tailor. Knowing that he does not own the place, I asked him how he makes money. He said that the owner of the place has a store nearby and uses the space where the tailor works as a warehouse. The owner decided to make a small space in front of this warehouse as a small business. The owner bought 3 sewing machines and set-up a small tailoring/alteration business. This tailor said that he started out when he was still a young man and had already moved from place to place. This time, he landed a jackpot. This store never runs out of customers. In fact, work has been piling up and he even got his friend to work there.
Sok, I asked him how he makes his money. He said that he just provides labor and he gets a commission on that. For every P50 pesos he charges, the customer, he pockets P20. Not bad for providing labor only and work keeps piling in. They never run out of customers. However, I asked him why he does not work on Sundays while his other co-tailors keep working. He told me that a kind man has given him a sewing machine and he works at home during Sundays. He told me that he does this despite that his home business makes lesser money. He does this so he has an alternative. He said that if this store he is working at right now closes down, he still has a fallback plan. He will not starve. He said that nothing is forever, and from the experiences he gained from his earlier years, he needed a fallback if something goes wrong.
Wow, was I amazed at his answer. I know a lot of Filipinos who work during the week and spend their money over the weekend drinking and having fun. Start working again on Monday and the cycle repeats. Its like a rat race. I really admire people like this who have plans for their future.
How about you? Do you have a fallback plan?