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Martin Ssegamwenge, Event Manager [analysis]

35-year -old Ssegamwenge opened a furniture workshop when he returned from abroad. In 2009, from his savings, he drew Shs 2 million to buy five sets of furniture and paid rent. Over the six years he has earned about Shs 10 million and is targeting over a billion in the next five years after he opened another furniture workshop in Kampala. But he is not just focusing on growing his furniture business he has also ventured into events management and poultry farming.

He says it helps to own more than one business. When customers know about them, you can never tell when and who they will tell this is free aertising and marketing. For the events management business, he insists that customers must pay a deposit of 80% because over time, he has got difficulties in trying to get defaulting customers to pay up after the event has already occurred.

Tip to success: utilize peak and off peak seasons

“My businesses rely heavily on seasonal customers and I am very faithful to my customers,” he says. “I have made money because I know how to utilize peak and offpeak seasons.” Peak seasons are characterized by a wide range of festivities. They include Easter, Eid, Christmas, New Year, weddings graduations and corporate events. He says some people lose because they want to sell their products at the same price or in the same way the entire year. One should know when to stick with the highest price with high a profit and when to negotiate and compromise especially in the cash scarce season.

Source : The Independent

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