Ramadan Is Also An Opportunity To Earn Extra Money, Let's Do It

Shopping transactions increase rapidly during Ramadan. (AMONG)

JAKARTA - Ramadan is only a matter of days away, many impromptu businesses are created during the fasting month which can be a business opportunity for people who want to try their luck by taking advantage of the momentum that will be profitable if sold during the fasting month.

In the month of Ramadan, there is economic growth, not only for individuals but also for the country "spraying" of sustenance because it is driven by economic growth due to high consumption.

The Central Statistics Agency (BPS) noted that in 2020, around 55.74 percent or more than half of economic growth was supported by household consumption. According to Finance Minister Sri Mulyani, the moment of Ramadan encourages consumption. Make the second quarter economic growth lift slightly.

How does the money spin? A simple example is the emergence of takjil traders who suddenly appear in front of our homes. The impromptu takjil traders are one of the economic boosters, including us takjil connoisseurs.

Takjil market during Ramadan, boosts the national economy. (AMONG)

These impromptu takjil sellers cannot be underestimated. Turnover of money that occurs is quite large. For example, a trader prepares a takjil menu in the form of marrow porridge. Each pack is sold for Rp. 10 thousand. If the seller prepares 50 packs of marrow porridge, the proceeds from the sale can reach Rp. 500 thousand, if all are sold.

If there are five traders of marrow porridge in one area, the circulation of money in the area can reach Rp. 2.5 million. We only count one seller of marrow porridge, there are still compotes, cakes, young coconut ice and others. Turnover will be even greater if transactions occur in the market.

There are various kinds of best-selling businesses in the month of Ramadan. This opportunity provides an opportunity for greater profits. The most profitable businesses during Ramadan are takjil and drinks and food businesses, because people generally prefer to buy rather than make their own.

And if before Lebaran usually the demand for pastries will increase, in addition to enjoying themselves usually to be given to others, the business of worship equipment, Muslim clothes to other casual clothes will also generate money. Ramadan and Eid are always identified with new clothes.

Without Capital Can Also

In a Business Insight article, a financial planner from the Advisors Alliance Group Indonesia, Andy Nugroho, said that currently limited money is no reason not to do business because it can be done without capital. Becoming a reseller or dropshipper can be done for products that do not need production, for those who do not have business capital.

The most ideal business capital is sourced from your own savings, but the limit for its use is a maximum of 30 percent of the total savings. Why? If there are important needs that are not adequately covered by an emergency fund, they can still be covered with savings.

The source of capital can be used when the buyer uses the Pre Order (PO) system and pays, after which the goods are sent. If you use this system, you don't need a special allocation to start a business.

Sources of business capital can be obtained by disbursing investments, but you should only disburse investments that are liquid or easy to liquidate. This is to avoid losses if the administration is sufficient or not yet due.

Pawn goods also allow for Ramadan business capital. The pawned goods should not be productive goods, which we use to support work such as motorbikes, cars or laptops. It should also be remembered that pawns have maturities.

Transactions During Ramadan

Online advertising company Criteo analyzed that there were more than 111 million online shopping transactions in Indonesia and Malaysia during Ramadan. As many as 53 percent of customers shop via desktop and 68 percent shop via their mobile phones.

In fact, according to Forbes, customers who buy a product or service through advertising they can increase by as much as 20 percent every Ramadan. This is certainly a potential opportunity for those who want to take advantage of opportunities in the month of Ramadan to increase sales. Therefore, it takes the right promotional strategy in order to reap maximum profits.

Google found that people on average conduct searches related to Ramadan in the week before the D-Day. They are looking for health tips related to fasting and other things related to the month of Ramadan.

This habit can be used to formulate a marketing strategy, namely stealing the attention of consumers early to carry out Ramadan promotions.

Ramadan takjil market. (AMONG)

Make products as creative as possible, for example by making special Ramadan products with limited editions to attract buyers. Don't forget to give special promos in the month of Ramadan.

Maximize ideas for products. With interesting product content during Ramadan, you can steal the attention of consumers to buy. For example, those who are in the culinary business can create content on social media such as special menus in the month of Ramadan. Or for those of you who have a fashion business, you can make tips and tricks for dressing in the month of Ramadan.

Color the Ramadan atmosphere on business products if you want to maximize this business opportunity. For example, for a culinary business, you can design a green food container or decorate it with Ramadan nuances. Likewise with social media, designs with images that have Ramadan nuances so that your business social media profile looks unique.

By using a strategy to take advantage of business opportunities during Ramadan, it will certainly provide the opportunity to earn greater profits. It has been proven that many people have managed to get quite a large profit from taking advantage of the moments in the month of Ramadan.