Profitable Business Ideas in Uganda. Are you looking for a profitable business idea in Uganda to start in 2020, look no further.
Startups have seen a rampant rise recently because many people are turning away from being employed to becoming employers or their bosses as the saying goes.
There are many different ways how one can start up his business but the most common question today is; What is the most profitable business to begin?
Well, I may not have the answer to that question but below I have a list of good business ideas from which you can start your business.
1. Start a Cellphones and Accessories retail Shop
Cellphone retail businesses have proved to be so profitable. If you are looking for a profitable business idea, then opening up a cellphone and accessories store can make you a fortune.
With no costs spent on production and other manufacturing procedures, the retailer just has to purchase from the wholesaler or the factory or company itself and stock the products in his store where he sells at an added price and earns his profits.
All that you need to start this is to get a suitable location where there is a high traffic of people, good security and is also accessible by people.
You may be owning the property or you get that storeroom or house on a lease.
After securing the place, all you need is to get the licence from the right authorities, acquire your stock from your supplier and open up your store.
You need around 1052.67 US dollars to begin this business.
2. Become a Writer
Idea number 2 on our list of profitable business ideas in Uganda is being a writer.
Are you good at imagining and composing? If you are good at writing, there is some money you can get for your gift or talent.
With multiple websites and blogs looking for guest writers, becoming a writer is another profitable business idea one can think about.
If you know how to write quality content be it books, stories or poems, you can start writing your books and start selling them on the many books selling websites and stores.
Don’t just sit on your gift, start now looking and putting it to work.
Many websites register guest writers. Register with one of them now and start earning from your talent of writing for other people on their blogs and websites.
You may also decide to type your own books and become an author. This though requires you to be patient as it may take longer to start earning from your products.
3. Start a Poultry Farm
This is for you my dear one who loves farming. Poultry farming is a very profitable business idea. Poultry farming requires only a small structure to rear the chicken from.
There are two different types of chicken you can rear. They are broilers and layers.
Broilers are for meat production while layers are for egg-laying, but can also be sold later for meat.
I recommend broilers since they require little maintenance as compared to the layers. Broilers can grow from chicks to adult chickens in a period of nine weeks.
There is a ready market for chicken meat and eggs. So no matter which poultry type you chose to go for, be sure you will get profits from your hard work.
You need to learn a few things before starting this business though.
Since the process of raising chicken involves some medical practices of vaccination, immunization and many more.
So you may need to learn a thing or two or hire a person who has experience in poultry rearing.
4. Start a Boutique
Idea number four on our list of profitable business ideas in Uganda is starting a boutique.
Are you good at designing or do you love fashion? This one is for you. Boutiques are many these days, but one amazing thing is they are all profitable.
Why is this possible? it is because every boutique has its own designer which means a different design from every boutique.
If you have a taste of fashion, you can become a designer now and open up your own boutique and start dressing people and let the world be filled with your touch.
All that is required to start a boutique is a love for design and fashion, a good location that is accessible and secure, and also the machines that you will use to make up your designs whether clothes, bags or shoes.
If you have little money to buy manufacturing machines, you may start by selling other people’s designs while you plan on starting your own productions.
5. Start an Online store
Well, this is my favourite business idea though it has come at number five. An online store is easy to begin and sell any product you want through your website or another person’s website.
Online stores are so cheap to start as compared to other physical stores and they are also secure since no one will break into your online store.
Although it needs tech-savvy people to start up a fully functional online store website, once it’s started anyone can upload a product and add the additives like price, pictures and availability of the product or service.
You can sell a variety of things online from physical products like clothes to downloadable stuff like books or software.
There are however big online stores like eBay, Amazon and OLX, which encourage people to sell their products or software on their platforms.
This is a great advantage to all planning to start an online store.
Selling your products on already established products is cheap to start and also you need no marketing since these big companies are already popular.
So whatever platform you want to use to sell your products, just know the online store is a profitable business idea.
6. Start a Milling Business
Another profitable business to begin is a milling machine business. Milling machines are quite expensive to start but once operational, the risk is worth the reward.
The milling business has a lot of products that can be sold at a good price. This includes flour, poultry feeds, husks and many more. All these have a ready market awaiting.
This business is so profitable and needs less maintenance once started. Much energy is required in starting it up, but once operational there is less work needed.
If you have some good capital, this is a good business idea to think about today.
You need to buy the machines that will operate in the mill and also employ workers who will do the offloading and loading of products and many more factory works.
7. Offer Laundry services
A lot of people have limited time or no time at all to carry out laundry services for themselves.
They may be busy or they just don’t want the process of washing, drying and even ironing their clothes and other fabrics.
This is where the laundry service comes in. With a given price, many people gladly take their clothes, bags, coats and much more to laundry services stations out there.
If you don’t mind wetting your hands, then laundry service is a very profitable business to begin.
All you need is a washing machine which may cost around 100 US dollars, a dryer and a flat iron. You also need a place to carry out the drying, cleaning and ironing service.
If you have little money to buy machines, you can start by washing physically in a basin, placing the clothes in the sunshine for drying and then later, you iron the clothes.
This is a lucrative business idea especially if you start it in a busy place. You will get the profits pretty quickly.
8. Start a Welding business
Welding has been around for some time now. Straight from the blacksmith days to the current days, people are falling in love with welding products.
These products include doors, chairs, and cars name them, they are so many.
Starting this business may require some money but it is worth every dime invested in it. With this real estate infrastructure being built every day, there is a ready market for your welding products.
You also don’t need a very large place to start up with, just a small room is required to store the operating machines and some products.
You also don’t necessarily need to be on the busiest street in your town because people can readily look for your services even if you are in a less populated area.
Welding is a very profitable business. The only limitation here may be training. You need to first learn the welding procedures. The good thing is that there are many training institutes you can learn this from.
9. Do Craftsman Work
Are you skilled in any handwork? If the answer is yes, then know you have a fortune in your hands.
With the rampant raise in the love for crafts, starting a crafts shop can be your destiny waiting for you.
This type of business is special and is purely for skilled craftsmen. But remember no one is born knowing everything, we learnt all we know now.
So if you have a passion for crafts but aren’t skilled yet, you can learn craft-making and start your business.
Crafts businesses are so many, with different products and different requirements to operate them.
Depending on the type of crafts you are planning to start manufacturing, you will require some tools and machines to assist you in the process of manufacturing.
The best thing about this business is that it feels like no business at all since you spend most of your time doing what you love most.
10. Become a Broker
Last but not least on our list of profitable business ideas to start in Uganda is being a broker.
Being a broker means being a mid man between the seller and buyer. All you have to do is to connect the buyer to the right seller and get a commission share if the sale is successful.
This is a business that requires no capital to begin, it needs no storage structures or getting licenses.
In other words, everyone can become a broker now, however as an entrepreneur, you need to have passion for this broker business in order to make it successful.
As a broker, your work is to look for sellers, and know exactly what they are selling.
You may choose to specialise in a given field and carry out your broker businesses in these specific businesses.
The broker negotiates with the seller about the price he is selling his products or services and then the broker goes looking for suitable buyers.
When a buyer comes along looking for that product or service, the broker connects him to the seller.
After all, is successful, the broker gets a commission from the seller, depending on how much the buyer has bought the products or services.
Your Turn…
There are many profitable business ideas in Uganda that anyone can start this very year with as low as 500,000 Ugx. The limit is endless and all one has to do is open his eyes and look at his surrounding.
If you feel something is not right or missing, there is where your chance lies as an entrepreneur to succeed.
Always provide value and solutions to people, they will, in turn, give you the money and all that you want.
In case we have forgotten a good business idea, please let us know by commenting below.
Write all the other business ideas we have left out and we will surely add them to this list.