Business For Uganda In The Next 50years(Series)

By Wanambwa M. Rogers

Bus 24

Baby Infant Food and Formula

Although physicians recommend exclusive breastfeeding for under six months babies, infant formula can be used as an alternative, as it consists of similar nutrient contents. Infant formula consists of various nutrients, such as carbohydrates, fats, proteins, vitamins, minerals, and others (linoleic acid, prebiotic, and others), that are fed to babies for their overall development.

According to Allied Market Research, the global baby infant formula market size is estimated to be $24,043 million in 2018, and is projected to reach $45,348 million by 2025, registering a CAGR of 9.5% from 2018 to 2025.

Baby Infant Formula Key Market Segments:

By Type
1. Infant Milk
2. Follow-on-Milk
3. Specialty Baby Milk
4. Growing-up Milk

By Ingredient
1. Carbohydrate
2. Fat
3. Protein
4. Minerals
5.Vitamins

By Distribution Channel
1. Hypermarkets
2. Supermarkets
3. Pharmacy/Medical Stores
4. Specialty Stores
5. Hard Discounter Stores, etc.

As you can see, the opportunities are quite broad for you as an entrepreneur to venture into this business and given the fact that the number of middle class citizenry keeps growing worldwide, many couples have less and less time to spend it breastfeeding their young. And this is just the reality of life. This means that literally hundreds of millions of people, going to billions will look to baby infant formula for their children’s sustenance.

Again, some babies or their mothers get complications and hence breastfeeding may not be possible. The solution is baby formula.

Another thing is baby formula helps grow the bond between father and child since he can participate in the feeding too.

All these are seen as a plus and a marketing tool for you the entrepreneur. Now if you cannot deal in the manufacture of the formula, you can deal in import of or sale(this includes wholesale and retail).

Again, you can also deal in the sale of bottles and other utilities needed.

Business For Uganda In The Next 50years(Series)

By Wanambwa M. Rogers

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Bus 23

Accessories

Revenue in the Accessories market in the US amounts to US$55,990m in 2019. The market is expected to grow annually by 1.1% (CAGR 2019-2023). In global comparison, most revenue is generated in China (US$109,875m in 2019). The global hair accessories market size was valued at USD 20.0 billion in 2018 and is expected to register a CAGR of 15.2% from 2019. In general, the global accessories market is poised to bring in $633billion by 2022.

Jewelry stores in the US generated $39.7 billion in sales in 2018, a year over year increase of $7.3 billion. Holiday season spending in jewelry stores increased to $6.3 billion, a year over year increase of $0.2 billion.

The global jewelry industry seems poised for a glittering future. Annual global sales of €148 billion are expected next year 2020.

People want to look and feel good. What better way to do that than to adorn yourself with jewelry and other accessories?

This is true for both women and increasingly men too. As an entrepreneur, you’re looking at a rather large industry to venture in.

You can for example start dealing in the import or export of the jewelry. Importing European, Asian or American jewelry and accessories; and exporting our African jewelry to counter balance the trade exchange.

Again, you can decide to deal in hair and hair products.

That said, not everyone has the capacity to import or export merchandize and as I keep saying on this blog, start small and scale up.

You can therefore decide to concentrate on men’s accessories or women’s accessories or both. Depends on your financial stability or status(look at the 8 things to consider before starting a business article on this blog).

You can deal in watches

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Or earrings

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Or necklaces

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Or make-up

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Or Sunglasses

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Or a variety(mix) of them all.

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In the end, you’re availed with a fascinating adventure when it comes to accessories. You can even settle on making your own jewelry and selling those.

By the way, nowadays people are using waste products like straws and incorporating them into their jewelry. The ideas to work with, apart from the traditional gemstones and materials like leather are just endless.

Businesses For Uganda In The Next 50years(Series)

By Wanambwa M. Rogers

Courtesy photo

Bus 22

Clothes

Currently, Africa has a population of over 1.2billion people and this population is expected to double by 2050. Uganda’s population increases by 1million every year. This kind of population needs to be clothed(remember clothes are a basic need to people and I’ve concentrated on those mostly in the business series).

This interesting fact brings us to another opportunity for the entrepreneur in us. How about dealing in clothes?

Now, when it comes to clothes and the clothing industry, the global apparel market not including footwear or jewellery is worth $1.34 trillion a year in retail sales. Womenswear accounts for more than half (53%) of that spending. According to the McKinsey Global Fashion Index, to now be worth an estimated $2.4 trillion.

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You can get into this industry from anywhere. From growing the raw materials, like cotton for example, to selling the finished product at a retail shop(or of recent, online). You can also be an exporter of the clothes or an importer, whichever the case, you’re still in business.

With the internet nowadays, you may actually not need a physical store to sell your merchandize. All you need to have is a good social media presence, which by the way, you can hire influencers to do for even. Still having a store or boutique won’t hurt.

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Again, you can decide to specialize in women’s clothes:

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Or men’s clothes:

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Or even kids’ clothes:

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Businesses For Uganda In The Next 50years(Series)

By Wanambwa M. Rogers

Bus 21

Processed Foods

By definition, a processed food is a food item that has had a series of mechanical or chemical operations performed on it to change or preserve it. The processed food industries are valued at over $2 trillion dollars globally and consist of over 400,000 businesses. In order to feed the growing world population, predicted to reach 9.3 billion by 2050, agricultural production needs to grow by 70% and by nearly 100% in fast growing economies.

Now, before I go any further about today’s business, lemme first give you these few facts:

According to the Organisation for Economic Co-operation and Development(OECD), the size of the global middle class is projected to increase from 1.8 billion people (2010 estimate) to 3.2 billion by 2020. Of this projected growth, 85 percent is expected to come from Asia.

By 2050, two thirds of the world population will be living in cities, increasing demand for processed foods and meat protein — in Asia protein consumption will have grown by 128%.

Now, although most of the middle class citizens will be in Asia, this doesn’t mean Africa will not have some of its own. Regardless of the location of Africa’s middle class, household spending has grown steadily to reach $1.6 trillion in 2017 after crossing the $1 trillion mark in 2010. Household spending is projected to hit $2.5 trillion by 2025, according to estimates by McKinsey Global Institute.

This middle class is a working class that normally will not have time to prepare say food, juice and other snacks itself. Here comes in the opportunity.

You can decide to start a bakery, a confectionery, a soda plant(although this may require substantial capital), a juice processing plant(start small and scale up, REMEMBER).

You can start a plant like this

Or simply provide fresh juice on demand

You can also decide to start making sweets and other delicacies, among other things. As I keep saying in series, you’ll never have enough capital to do everything you want to at once, but once you have enough to start something small, you’re good to go. This business is not different.

Okay, you need to formulate your game plan. Who do you want to sell to? The target market. When do you want to sell? You know, the time and all. Is it seasonal, is it during day, evening or 24hours? What do you want to sell? In order to excel, you may to specialize on one thing for the start and dibersify as you move on. In what quantities? This is self explanatory, are you doing wholesale, retail or on order?

Lastly, I’ll talk about the market a little again. In all these businesses, you should be looking at expanding your business to accommodate exports in the long run.