One can make money with an idea like starting a pawn shop. This is one of those unique business ideas for many budding Ugandan entrepreneurs.A pawn shop is where people go and borrow simple money with their simple assets as collateral. These assets may include items like TV sets, jewelry,watches, antiques, mobile phones, iPad, cameras,gaming equipment and many others. As long as the asset has market value and that person is the rightful owner. Also people who need some quick money can come and sell their simple assets.
A pawn broker operates by lending money to people who put up simple assets as collateral, buying and selling used merchandise. People get an easy alternative to loan sharks by using their assets too get quick money. However, in some societies like Uganda extra caution has to be taken to prove right ownership of the asset. You are most likely to fall on the wrong side of the law if you do not take up stringent measure to prove ownership of the property you are buying. This is because some people are most likely to bring you stuff they have stolen and you will be liable to prosecution for purchasing stolen property if caught. Therefore it is advisable that the customer shows proof of purchase of that particular asset presented.
This is one of those business ideas in Uganda which are very easy to start because you do not need a lot of capital for activities like buying stock. You can start with a little as 1 million Uganda shillings by lending simple money. Those who do not come back to pick their property will be providing you with stock which you can sell to recover your money. This will most likely bring you a lot of profits since you only lend a sum of a quarter of the estimated market value of the collateral. This can work really well in suburban areas and around university campuses.
One can make money with an idea like starting a pawn shop. This is one of those unique business ideas for many budding Ugandan entrepreneurs.A pawn shop is where people go and borrow simple money with their simple assets as collateral. These assets may include items like TV sets, jewelry,watches, antiques, mobile phones, iPad, cameras,gaming equipment and many others. As long as the asset has market value and that person is the rightful owner. Also people who need some quick money can come and sell their simple assets.
A pawn broker operates by lending money to people who put up simple assets as collateral, buying and selling used merchandise. People get an easy alternative to loan sharks by using their assets too get quick money. However, in some societies like Uganda extra caution has to be taken to prove right ownership of the asset. You are most likely to fall on the wrong side of the law if you do not take up stringent measure to prove ownership of the property you are buying. This is because some people are most likely to bring you stuff they have stolen and you will be liable to prosecution for purchasing stolen property if caught. Therefore it is advisable that the customer shows proof of purchase of that particular asset presented.
This is one of those business ideas in Uganda which are very easy to start because you do not need a lot of capital for activities like buying stock. You can start with a little as 1 million Uganda shillings by lending simple money. Those who do not come back to pick their property will be providing you with stock which you can sell to recover your money. This will most likely bring you a lot of profits since you only lend a sum of a quarter of the estimated market value of the collateral. This can work really well in suburban areas and around university campuses.
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Great blog thanks.
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