With the coronavirus wreaking havoc in Uganda and around the world, many businesses are facing closure, and countless people who depend on salaries may lose their jobs. This is why it’s crucial to establish a business that generates a daily income. While investing in long-term ventures is important, having a business that brings in daily earnings can help you maintain financial stability.
Here are ideas of businesses that can generate profits of at least USh 100,000 daily:
1. Bookkeeping and Tax Advisory
For professional accountants, offering bookkeeping and tax advisory services to individuals and businesses is highly profitable. With the new regulations from the Uganda Revenue Authority (URA) and Uganda Registration Services Bureau (URSB), there’s a growing demand for these services. Many small businesses need help managing their finances, and this service can easily bring in USh 100,000 or more daily.
2. Mobile Massage Services
The massage industry is booming in Uganda. A session can cost anywhere between USh 100,000 and USh 300,000 per hour. Offering mobile massage services appeals to clients who prefer home visits due to hygiene concerns about public parlors. Though the market has many inexperienced masseuses, providing professional and quality service will make this a highly lucrative business.
3. Mobile Hair Plaiting Services
For those skilled in hair styling, mobile hair plaiting is a profitable venture. Clients pay between USh 100,000 and USh 250,000 for plaiting. This business requires very little startup capital, as clients usually purchase the hair products themselves. By working on several clients in a day, you can easily exceed the USh 100,000 target.
4. Website Design
Designing websites has become much easier thanks to platforms like WIX, which allow users to create professional websites with minimal technical knowledge. As more businesses seek to establish an online presence, this is a promising way to earn daily. A single project can fetch USh 100,000 or more, especially with specialized services or customizations.
5. Social Media Marketing
Organizations and businesses need help managing and promoting their presence on social media. If you are social media savvy, you can offer services such as managing accounts, creating content, and running ads for businesses. With a laptop and a good internet connection, you can earn well over USh 100,000 daily, depending on the number of clients.
6. Barbershop
Barbershops provide consistent daily income as grooming is a necessity. With services costing between USh 10,000 and USh 30,000 per cut, a busy shop can see dozens of clients per day, easily generating USh 100,000 or more. If located in a strategic area, this business is a reliable income generator.
7. Night Car Parking and Washing Bay
Operating a night car park is a simple and efficient way to earn daily. With a secure area, good lighting, and an armed security guard, you can charge around USh 5,000 per vehicle for overnight parking. If you get 30 cars per night, that’s USh 150,000. Adding a washing bay can increase your income even further.
8. Mobile Money Agent
Being a mobile money agent can be a risky business due to the potential for theft, but it can also be very rewarding. Agents earn commissions from transactions, and in busy areas, you can make over USh 100,000 daily. Providing both withdrawal and deposit services ensures a steady income stream.
9. Fast Food Restaurant
Fast food restaurants located in busy commercial areas, near schools, or at universities can generate high daily income. Items like chips, fried chicken, chapati, and samosas are in high demand. With strategic placement and fast service, a small restaurant can easily earn USh 100,000 daily, especially during peak meal times.
10. Real Estate Brokering
Real estate remains one of the most lucrative sectors in Uganda, as people constantly search for properties to rent or buy. As a real estate broker, you can earn from search fees and commissions. With search fees ranging from USh 50,000 to USh 100,000 per client, and commissions on successful deals, this business can generate daily earnings if you are dedicated and honest.
Conclusion
Starting a business that generates daily income can offer financial security, especially in uncertain times. The businesses listed above require varying levels of skills and capital, but they all provide the potential to make USh 100,000 or more each day. By focusing on providing quality services and targeting the right market, you can create a steady source of daily income.