Electricals: He started his business six years ago with Shs1.5m but as of now, it is worth Shs15m. Ronald Ssempijja shares his success.
What type of business do you own?
I own an electronics shop. I sell electric appliances such as cables, sockets, bulbs, metre boxes and many more.
When did you start this business?
I started it in 2010 after completing my studies.
How much did you invest in this business?
At the start I invested Shs1.5m after operating a kiosk along Kawempe Road.
Where did you get the money to start the business?
I saved some pocket money that my parents used to give me and in two years, I was able to save Shs1m. I borrowed 500k from a good friend who was already working.
How much is the business worth now?
If I compute well, it is worth Shs15m.
Where is this business located?
You can find me in Kawempe Lugoba Trading Centre.
What inspired you to start such a business?
My father is an electrical engineer and I grew up admiring to be an electrician. Those two factors inspired me.
Where do you buy your items from?
I get them from Indians in Kampala and sometimes, they supply me on credit because of the good relationship we have. That has helped my business grow at a fast rate.
What are some of the challenges you have faced doing this business?
The unstable market is affecting me a lot. Sometimes the items are high-priced and customers are not willing to spend so much on them.
What is the cheapest and most expensive electronic item you have?
The cheapest goes for 5k while the most expensive is 100k.
How have you benefited from this business in the six years you have been running it?
In the six years, I have managed to buy a piece of land, built and bought a motorcycle that also brings in some money.
How much do you earn?
On a good day, I can make Shs1m but on average, 300k to 500k.