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Top 10 Small Business Investment Opportunities in Philadelphia

Are you looking for business opportunities to invest in, in Philadelphia? If you live in Philadelphia and you are considering starting a business but you simply lack ideas on what business to start. Then, you have come to the right place.

In this article, I would show you 10 different businesses that you can start in Philadelphia but not before showing you the 12 attitudes you have to put up to succeed in any of the businesses you choose to do.

12 Attitudes or Habits You Need to Succeed in Philadelphia

a. Passion

You can only succeed when you have a passion for your business and this starts from choosing the right business. Don’t just choose a business because everyone is doing it or because it is the newest money spinner. Instead, you should go for something you love, something you can even do for free if it comes to that.

b. Build Trust

You have to build a very strong reputation such that people can trust you. When people have confidence in you, they would find it easier to do business with you.

c. Be Flexible

The world is ever revolving; don’t be rigid. You should embrace trends, technological improvements and better ways of doing things. Don’t be Mr. Smart farmer who continues to use a cutlass and hoe for farming because that’s how his father and his grandfather’s three generations back did it. Mr. Smart Farmer is not going to be making any substantial profits until he embraces mechanized farming.

d. Remove Fear

It’s completely normal to be anxious when you want to undertake new business projects but fear? Nah, do away with that; believe in yourself, go for it and you would conquer the world.

e. Be Proactive

You should always look into the future and plan adequately. Don’t wait for events to happen and then you start spending time cleaning up and managing the effects. Instead, you should prevent them from happening at all.

f. Take Care of your health

Never forget that you are your company’s greatest asset. You are the eyes, brain and legs of your business. Without you, your business may fail and so you owe it to yourself to take good care of your health. It’s okay to be a workaholic but remember to take regular vacations, eat the right diets and go for regular medical check-ups.

g. Recognize your weaknesses

I always advice business owners to never be too shy to ask for help. You can’t be the I.T Expert, the accountant, the attorney and the manager of your business at the same time. Always ask for help when you know that you need it so that you don’t mess things up.

h. Show off but within your means

So, it’s your first year in business and thankfully, you have made some profits. Now, you are pricing the latest cars and buying designer wears.

Nothing bad in that but buy your luxury stuffs after you must have ploughed back some of your profits into the business saved enough for the rainy days and considered some business expansion options. To make things easier, it is better to place yourself on a salary or a commission so that you can do whatever you like with your earnings without killing the business.

i. It’s okay to fail

Yes, it’s okay to fall but it’s not okay to remain on the ground after a fall. Most successful business owners have failed once, you are not alone. So, when you fall, get up, access the reasons for your failure and get back up again.

j. Be disciplined

One of the struggles you are going to have as a self-employed person is discipline. I experience it too; those moments when you just want to remain in bed and sing the lazy song but you have to be disciplined and remember the tons of people counting on you.

k. Accept Criticisms

Yes, from your staff, your clients, associates or whoever has an opinion about you and your business. Accept them, sieve the wheat from the chaff and look for ways to improve.

l. Be a Risk Taker

You may not achieve much in business if you don’t learn how to take risks. Get out of your comfort zone and explore new opportunities.

For the top 10 business opportunities in Philadelphia, you can consider any of these options-:

Top 10 Small Business Investment Opportunities in Philadelphia

1. Property Investment

You can invest in real estate by building houses, office complexes, serviced apartments and other real estate properties.

2. Debt Collection

Debt collection is a tedious but lucrative business. You can earn as much as 20%-25% on the value of collected debts. You can also start it from home without investing too much money in it.

3. Chiropractic Clinic

Another business idea is to start a Chiropractic practice to help people manage and recover from pain and discomfort. If you are a freshly trained Chiropractor without much capital to invest or funds to start a clinic, you can start a home-based chiropractic business where you would attend to people in their homes. Eventually, you would be able to gather enough funds to start a clinic.

4. Pawn Shop

You can also start a pawn shop to cater for people who need quick or emergency loans.

5. Haulage and Logistics Services

You could also start a haulage and logistics companies to help people who want to move items around the country.

6. Credit Repair Agency

A lot of people in Philadelphia are suffering from the effects of bad debts. You could start a business to help out such people.

7. Skin Clinic

You could also think about starting a skin clinic to help people heal from skin conditions like Eczema, Psoriasis, Rashes, Burns and all sorts of skin problems.

8. Bakery

Another profitable business is to start a bakery. You could make money from selling bread, desserts and all sorts of baked goodies.

9. Pharmacy

Another business idea is to start a 24-hours pharmacy to cater to people’s pharmaceutical company to cater to people who need to buy drugs during the day and for emergencies at night.

10. Mobile Phone and Computer repairs

Lastly, you can start a mobile phone repairs services or a computer repairs and engineering business.