What would be the best business to start up here in the Philippines? Of course I would love to retail gadgets and computer hardware since I know a lot of those thing however the margins for that sort of product are really low. When margins are low, high amounts of volume are required to be profitable. I could go with food. Think about all those water refilling stations. The cost of water is near zero and the markup is extreme but then that would really be just about getting a good location. A coffee shop would be an excellent idea. Coffee is really cheap and if one can sell at Starbuck’s prices, the margins will be very lucrative. I feel that the coffee shop business is over saturated at this point. With a Starbucks at every corner, why bother?
Why am I rambling on these generic business ideas? I can’t think of any up to date business ideas that would work. I used to think that printer ink would be big back then before entering college. Yup, it got big but then it eventually died off. I used to think that Internet gaming shops would hit big before high school. Yup, it did got big. Now, it’s still there but the growth of the home market has killed a lot of the weaker stores.
The chances of success are dim. Ninety percent of businesses don’t make it to ten years and around half dies by two years. Yet without risk, there will be no reward. Millionaires are made not born. The successful people took risks and they’re at the top now. Is it a gamble? I guess so. You can make an educated guess or a calculated risk but in the end a probability of 80% is still a probability of 80%. There will always be things one cannot control or mistakes that can’t be corrected.
Well, I guess life can’t be video game. One life, no continues. Hell, one chance is all I need to succeed.
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