At first glance, you might think this couple from Batangas is just another couple you see everyday. However, their story as a couple is very far from it.
Reynante and Raquel Manimtim are a millionaire couple from Batangas, thanks to the success of their siomai business that started with a P1000 capital. Their life changed over time some people even think they won the lottery. But according to Reynante, it was all hard work and intelligent investment.
The couple’s feel-good story was featured in the GMA magazine show Kapuso Mo, Jessica Soho and inspired millions of viewers.
The two were minimum wage earners in a restaurant. Reynanto was the cook and Raquel was also working there. They had bills to pay but then they still manage to buy a lot so that they can have a home they can call their own. Once they were done paying the mortgage, they decided to think of other ways to earn since what they were earning in their jobs barely sustain their life.
They started with a PHP1,000 capital and bought fishballs and other foods they can sell on the street. Still, the profit from it was barely enough. So, they decided to expand their menu. They sold banana cue, lumpia and Reynante had to walk kilometers to find customers for what they were cooking. The major game-changer was a staple in street foods here in the country – siomai. The recipe of their siomai was made by the couple themselves instead of buying it from a known seller. They called it Princess Siomai. Aptly named for the king and queen of siomai in Batangas.
With their siomai business, their daily earnings grew. Still, they thought they were caught in a cycle wherein they have to work and not save anything.
To change that, they made a PHP25,000 loan from the bank and bought a motorcycle and attached to it a sidecar that can carry their products. In just one year, they were able to add five more motorcycles. From 1000 pieces of siomai per day, they can now sell 9,000 siomai per day.
They were able to add four more carts which all drive around in nearby Laguna town. The Manimtims were able to build stalls around their town.
The lot that they bought as a bankrupt couple now has a house. Not only that, they were also able to purchase a 1,300 square meter lot as their garage and stock room.
By 2017, they were earning PHP50,000 per day. A far cry from their PHP150.00 earning when they were still a young couple.
Their success was even recognized by the municipality of Batangas. He was awarded the Regional Awardee for Luzon in the 2017 Citi Microentrepreneurship.
Raquel’s advice for those who want to achieve what they achieved? She said it is all about prioritization and sound investments. Invest in something that will help you grow instead of spending your money on something that will not create you profit.