Are you interested in starting up a business here in Kenya? There are vast business ideas that are still untapped and are profitable. You can kickstart the side hustle with little savings. Moreover, you can keep growing as your turnovers increase.
Startups are a test of patients because it may take a longer time for you to measure profitability. What’s worse is that from the onset you have to grasp all the expenses and costs. You also have to understand all the income channels that are vital for your business growth.
Business gurus recognize Kenya as a hub for economic, commercial, and logistics sectors.
As a result, the country’s economy is growing wide, and diversity is kicking in to offer variable opportunities. However, having 75.1% out of the 46 million of its population being majorly young people below 35 years, heavy pressure lies on the government. Coupled with many other external factors, the majority of this population is left unemployed or underemployed.
Settling on a new business idea is challenging. The most common threat is the fear of failure. On the other hand, gaining experience venturing into different small scale business ideas is impressive. If you are short of starting Capital, check out some of the options available here.
In this article, our primary focus will be on the seven fastest-growing small-scale businesses you can try to stay afloat and survive through the difficult economic period.
- Mitumba( Second Hand Clothes) Business
The second-hand clothing business is a boom, especially in the Kenyan primary market both on county and sub-county levels. You can venture into the commonly known Mitumba business with as little as KES 500. The main essence that can catapult you to gain strong roots in the industry is to identify your target niche. For instance, evaluate your neighbors and friends’ tastes and preferences, or perhaps you can use the criteria of age by either focusing on baby clothes, ladies’ shoes, men trousers, etc.
You can start by selling through an online market first if you cannot acquire a physical shop. The other alternative is to hawk the products during the evening hours on the city’s busy streets. Note that some of the decisions may expose you to some degree of risk or having issues with the local government. Nonetheless, it is your risk appetite that will gauge you and your capabilities.
Before kickstarting the business, it is important to pre-qualify your suppliers and evaluate their reliability, timeliness, and trustworthiness. The research is ideal to ensure that the supplier you are dealing with has a good reputation and great reviews from past clients and does not exhibit the characteristics of failure or non-delivery of products and services.
2. Mpesa/ Mobile Money Agent
There has been a rapid growth in Mpesa business from different spectrum in the financial sectors. Many enterprises link their petty cash transactions through Mpesa, while most banks are offering alternative options to using till number to send and withdraw money in and out of your daily chores, respectively.
If you are looking into becoming a Mpesa agent, you will receive a commission based on the number of withdrawals and deposits. Furthermore, Safaricom will weigh you based on the number of new SIM registration you have successfully done.
For the Mpesa business, you will need roughly 50-70K to start. Out of the amount, at least 30-40 k will be cash float for Mpesa business. You will also be required to have a shop/kiosk, and in some areas, goodwill amount to book space.
3. Grocery Business
We all, at some point in time, are required to eat. Therefore getting fresh and most nutritious organic food can be a pain in the neck. You can tap through the opportunity by packaging high-quality products and selling them door to door. Alternatively, you can maximize your online presence by offering various things, e.g., Roots, Fruits, green veggies, etc.
If you are second-guessing on the need to start selling groceries, then you are mistaken as you will be heavily readily available money right at the table. Another option is to make fruits and salad and serve them to your customers. You can hawk them to offices and other significant areas which you have identified. Twiga Foods, for instance, is one such business that started small from a grocery store to becoming one of the biggest suppliers of perishable goods within the EA regions.
4. Boiled eggs and sausages Business
Are you in college/ campus and wondering what to do during your free time? Well, here is an excellent idea on some of the available options to look into. Boiling eggs and cooking smokies, samosa, and sausages is a significant venture to try out. The business requires a minimum investment that gives good returns. You can quickly start the company with KES 1000 and get the raw material in place.
5. Car Wash Business
A significant percentage of Kenya’s population owns a car. The need to keep them clean becomes a necessity. To start, you need to get a few essential pieces of equipment that you will use. They include;
- Water tank
- Washing Machine( Optional)
- Vacuum Cleaners
- Detergent and
Once you have the leading equipment, you can start your venture. Washing a single-car often ranges from KES 200-600 depending on the location and services being offered
6. Become a Freelancer
A freelancing platform offers an opportunity of being your boss. You will be able to plan your work and schedule and make significant decisions in your life. Depending on your skills level, you can start by writing business proposals, offer transcription services, and mention a few.
7. Farming business
Looking through the spectrum that focuses most on economic growth, agribusiness has emerged top. The misconception that agriculture is a dirty and not lucrative business to venture into is slowly getting distinct. Coincidentally, those employed and categorized as middle class are slowly but surely moving towards investing in agricultural activities.
To venture requires a minimum of KES 1000-5,000 to start. Subsequently, you will need to top up your investment severally to enable the expansion of your business.
The above are the main hustles. However, there are many more opportunities cropping up daily within our markets to tap through and require minimal investments. Therefore, it is essential to keep our eyes glued on the development within the country, cutting across all sectors to benefit through them.