Thinking of starting a business in Zimbabwe ?
Will my business survive in such a hard and dry economy ? Those are some of the questions that have popped up in the minds of some entrepreneurs.
Well if you cant take a risk you are not an entrepreneur, that aside today I will give you some business advise on which routes to take if you are willing to make money in Zimbabwe.
I will list some businesses that i think are good for start ups in a edgy economy (Zimbabwean economy to be specific).
Safe routes to Follow
- The Food industry this is one of the safest route to follow if you would like to start up a business in any economy. It doesn’t matter how bad or good the economy is, people will always buy food regardless the hardships. Food prices have been rocketing since last year but grocery shops are always fully packed. Thats one business that will always prevail in any economy if managed very well.
- Transport system: Just like people eat and buy food every day, they also commute on a daily bases. this is yet another business that is never seasonal. If you would like to do a business this one would match well as i mentioned above people commute every day so this one might do you good. The good thing about such a business is that if fuel prices are hiked you also raise your fares people will always abide.
- Online Businesses: Zimbabweans are too slow at digitization but little do people know that they is a whole lot of money to be made. The good thing about online businesses is that they are not determined by any one economy. Doesn’t matter if you are from Zimbabwe or Britain the online systems will always work out. Online businesses include online Forex trading this one requires a lot of training and knowledge most people have lost a lot of money to broker because of greed and trading without much knowledge. If you are going to get into online Forex trading make sure you are well taught always practice on your demo accounts. Other online business you can do are opening online store these always reach a larger audience for example Ebay id one success story of an online store in Zimbabwe we have a few but poorly marketed online store that actually are short of stock a clever person open an online store and allow other actual shops rent some space on the website you will be paid through internet ranting space from your affiliate shops, you don’t really need to buy groceries or clothes just convince shops that are already in existence to sell on your site.
Businesses that are currently not safe in Zimbabwe.
- Clothing Shop: This is one business that is currently not making money in Zimbabwe. Zimbabweans especially the young have borrowed foreign cultures and they believe any piece of clothing sold in Zimbabwe is not legit. Clothes are very expensive in Zimbabwe no one would prefer to buy a pair of sneakers without for 100 US Dollars if they can get the same pair across the limpompo for 500 Rands. A friend who owns a clothing shop told me he was running at a loss. “Imagine i pay rentals every month but i can go for a whole month without anyone buying even a towel in my shop,” he said. I will say no more.
- Phone and Gadgets: This is a tricky and risky one definitely not for a startup. Reason why i think its not safe for a start up 1) You need serious connections to prevail in this one people have their own trusted suppliers of gadgets. I don’t know about you but when ever my phone breaks i take it to my go to guy, when ever i feel like getting a new phone i have my own person that i trust will sell me something legit same with earphones and chargers. Now imagine if you are a start up you will have to go through the most tedious process of becoming a go to guy for many . Prove you are better than the Unity Village or Joina City guys .
For any of these business they are always pros and cons for each and ever business. Lets meet again next week on this platform as we discuss on how to attract and convince your targeted clientele to stay. Till we meet again next week.