Five Profitable Businesses to Start in Kenya with Less Than KSh 100,000
Here are the 5 Lucrative and Easy Businesses to Start in Kenya with Less Than KSh 100,000.
- The milk dispenser business is one very lucrative business in Kenya today
- With the quality of phones the majority can afford, phone repair is one such business you want to venture into
- Professional Daycare business is another area one needs to consider with the increasing cases of career women in society
Five businesses to start in Kenya with a capital below KSh. 100,000. There are nearly 200 million young people aged between 15 and 24 in Africa, and 60% of them fall under the category of unemployed active labor force. In Kenya, the overall employment rate is 12.7 percent, and the unemployment rate of Kenyan youths in 2024 stood at 67 percent.
This high unemployment rate is expected to double, as the population will reach 63.9 million in 2030, with young people growing to 22.3 million. Thus, most young people consider micro and small enterprises as a solution and a promising path forward by creating opportunities for the unemployed.
Even though seed capital has remained a setback for many who desire to venture into entrepreneurship or “Ujasiriamali,” as it is referred to in Swahili, these five profitable businesses can be a solution to those willing to quit the job of hunting for a Job.
One can start some of these businesses in Kenya at a capital below Ksh. 100,000 include:
1. Milk Dispenser Shop
Milk remains one of those products used by nearly every household consumer nationwide. With a relevant license, which varies from county to county, one must get a milk vending machine for as low as Ksh. 65,000 for a 50L capacity. Hygiene and position for the milk dispenser are crucial in maximizing sales, and thus, one needs to look for areas with constant human traffic or apartments with high populations.
2. Mitumba Business
The first thing that comes to mind when you read this is that everyone is in this business. Well, it is essential to know that the Mitumba business continues to be highly lucrative as the economy tightens and the demand for second-hand clothes grows. This business can reap up to 100 per cent profit, and the capital can be as low as Ksh. 20,000 to 100,000 that go to stock and renting selling space. Marketing and strategic positioning are essential for the success of any business, and so is Mitumba Business.
3. Phone Repairs
According to the Communication Authority of Kenya, mobile (SIM) stood at 68.9 million subscriptions, translating to a penetration rate of 133.7 per cent by the end of June 2024. Most phones are cheap and known to spoil, requiring the attention of those who repair phones quickly. Those who are graduates in computer science and related courses are advantaged in this business venture, but the skills can be learned. The amount needed for a phone repair is as low as 10k and can go as high as 100k when you include other electronic appliances such as electric jugs, TVs, radios, etc.
4. Online Accessories
One of the significant challenges many face is the capital needed to start a business, which is where technology comes in. One can now operate an online shop where one must have a social media platform and work to make its products and services visible to potential clients. This business is good because most social media platforms are free, and one does not need to have inventory to start the business, which reduces the cost of hiring a space and stocking. With about 20-40k, one can run a successful online accessories business.
5. Professional Daycare Services
As the economy becomes more complex, couples are forced to go out and fend for the family, which poses a significant challenge for families with young children. The majority cannot afford a nanny and even those who can are scared of the increasing negative experiences with nannies. Professional daycare remains the safest and most affordable place for most parents to leave their young ones without joining schools. With a secure and children-friendly environment and facilities, one only needs to market the brand well to potential clients so that the business can be picked up and run. The cost of running a daycare is between 20-30k depending on the location and size. N ow you know
You can also read on https://siare.co.ke/gender-differences-in-financial-behavior/
