By Jaluum Herberts luwizza, a writer, Speaker and Business consultant with YOUNG TREP. ..
There are various business ventures couples can go into together to generate some income to support their families and develop themselves though there two major factors to consider as they go into these ventures and that's time and knowledge.
Do you have enough time to see these ventures succeed and if not can you create that time!? Then do you have enough knowledge about the venture you’re getting into and if not so can you get yourselves knowledgeable about them!?
That said; these are some of the businesses I thought of that couples can do together.
1. Retail Business:
Retail business is the buying and reselling of goods from the producer to the final consumer making a profit in the process by being the link between the two.
A couple could start up a shop or a mini supermarket and can buy products/goods specially household items like sugar, soap, cooking oil e.t.c which they can resell to the final consumers making a profit in the process.
A couple m can go into agribusiness/farming i.e. rearing livestock, birds and growing crops. Animals like cows, goats and pigs can be a good source of income since they are some of the major sources of the meat we eat and milk we drink. Rearing birds like chicken for eggs and their meat too can be good business because chicken and eggs are a delicacy among our people.
Growing foodstuff such as maize, cassava, rice can also provide a good source of income as a business since most are eaten around as staple food.
3. Real Estate:
Real Estate is another good business although a little capital intensive. The couples can build small housing units for renting/letting out. The good thing with real estate is it doesn't require too much administration and is a long term source of income. Actually most people look at it as an insurance plan in that even when you can no longer manage to work due to old age you will still have a source of income that gives one money with little hustle or bustle.
4. Car Wash and Parking.
Car Wash is one of the businesses that require little investment yet have high returns. If there's one thing we can all agree on then it's the fact that the number of Ugandans buying motor vehicles every day is on a rapid rise and most don't have where to safely keep these cars when not in use. So this fact makes the business a good one due to the assurance of an ever growing market and high reliable returns.
Most people these days are getting too busy to cook and yet the interest to eat good food is one that has always been there and growing. Food is a necessity of life meaning everyone is a potential client for starters. This business though would do well in urban and suburban areas where people work from six to six and don't have time to prepare food or even go back home to have lunch due to the constrain of time.
I believe those are some of the businesses couples can invest in. The most important thing though is to make sure the business is being given time and attention not to start it and hire people and seat back and wait for returns. There is no room to be like silent shareholders so you will have to be hands on. Research to understand the nature of the business is also good and if possible the assistance of a professional consultant should be sought for direction and guidance. Last but not least have a business plan.