By Daniel George
So, there you are, stuck in the midst of your thoughts. Ideas are just flowing in and out of your mind and all you can think about is how to flesh out a business from these wild ideas, some even rough guesses.
The good thing I love about ideas dreams is that they are a reflection of the future you. After all, our fathers of knowledge left one piece of advice I like very much, that “imagination is better than Knowledge” However, after you get back to the reality of thing, everything starts fading away.
We are all held captives by our own imaginations. Having big dreams but no clue on how to actualize them. You are dying to get into business but truth is, you don’t know how much capital you need to start your small venture, or the place to set it up, all you have is the idea, but the means…
The amount you need to start your business
Is there a minimum amount you are required to have start your business? Well, it depends on your definition of the word “minimum”. But in Kenya, if you want to start a successful venture, Ksh 1,000 is enough to do all the magic that is an equivalent of $10
Given the current economic situation of the most economies, one may be skeptical about the power of $10. Well, if you are among these people, trust me your skepticism is justified! But with anentrepreneurial spirit, this is just enough to help you hit the ground running.
Therefore, if you are planning to start a business in Kenya or any other part of the world, getting succumbed on your thoughts is very possible because most of us lack information.
So today we are going to be discussing some viable business ideas to venture in and ensure success in business. Here are some of the businesses that we at Teen Network Magazine business team evaluated.
Ksh 1000 to ksh 5000 ($10-$50)
This is the bracket where most people would fall in. what are some of the business ventures you need to consider under this bracket?
- Selling vegetables
Yeah, you got that right! Selling vegetables is one of the businesses in Kenya that’s on the rise especially on major cities. Remember, people need to eat, but problem is, most of them have no time to grow their food. So this is where you come in and provide their daily food. With as less as $10, you could start your own vegetable kiosk.
- Shoe shining business
It may seem pretty obvious and out of the question venture for most people. Nonetheless, people who have ventured in this business are saying that it is one of the most profitable business in Kenya today. You do not need to have a lot of cash to get started and also, look at it as a chance to meet and interact with people. It gives you that exposure.
- Popcorn business
There you have it. Popcorn business in Kenya is on the rise and is turning people richer than a day before. This business in major cities is on the rise and people are taking advantage of this opportunity. You could also combine your popcorn business with other snacks to command a large share of the market.
Hawking is another business you may consider. It doesn’t require you to have much capital and with a thousand shillings, you are good to go. Success in hawking depends on your interpersonal skills and the quality of goods you are going to be hawking.
- Selling second hand clothes
If you are looking for an opportunity to make your rich even before you know, then it has to be selling “mitumba” people who have ventured on this business are enjoying a good profit margin. All you have to do to make sure you are successful in this business is making sure that your business is strategically placed.
More business includes;’
Ø Selling “kienyeji” chicken.
Ø Mobile manicure and body cure.
Ksh 10000 to ksh 100000 ($100-$1000)
If your capital falls under this bracket, then here are some of the businesses you should be considering to invest in.
- Salon and barber shop
Well, in this case, you have a two-way business to contemplate on. Firstly, you can set up a barber or a salon to cater for small and medium income earners or an executive barber and salon shop. The latter is a little costlier but if you have the guts and if your capital allows it, then this is a good opportunity to consider investing in.
- Selling women handbags and clothes
Come to think of it, how much would a dress cost? How much would a handbag cost? How about both? Well, this is another booming business in Kenya that you need to consider investing in. women accessories are lucrative item that you need to seriously think about.
Seasonal farming is the best kind of business you should be thinking about if you are living on the rural areas. It is a lucrative business with a good gain. However, along the way, there are some hiccups that may slow you down but once you get everything set, it is a business that will ensure you scoop a huge profit.
- Investing in securities
Investing in government securities is another option that you have at your disposal. They are risk free and will ensure that you get a good profit. However, you may also consider investing in something bearing more risk and more return, shares. Do a research on the company shares available for trading and invest on these.
More business under this bracket include;
Ø Photocopy,scanning, and printing business.
Ø Setting up a small boutique shop.
Ksh 200,000 to ksh 500,000 ($2000-$5000)
With this kind of money, you can start a venture on more profitable areas and make it at the top of your industry. Here are some of the businesses you need to consider
- Cake baking business
For those who love cooking, this is your opportunity to gloss and make money with it. With a bit of internet marketing skills, you are looking at a hefty profit out of cake baking business. May be before you start on it, get some training to ensure that you have what it takes to meet the customers’ expectations.
- Mobile money transfer business
Business like Mpesa, Orange money, Airtel money, KCB mtaani and other forms of money transfer from the banking agency offer a lucrative way to earn money. Basically, cost of set up may vary from one service provider to the other. Therefore, before getting started, it is best to do a little research on the cost.
- Wines and spirits pub
Wines and spirits is another business that you need to be giving your thoughts on. However, this depends on the location and size of the business. A small business would cost you around ksh 200,000 and a medium sized business will go up to ksh 500,000.
More businesses under this bracket include;
Ø Small pub
Ø A fast food restaurant.
Ø Car wash.
Ø General shop.
Ø Laundry business.
Ø Auditing firm.
Daniel George is a staff writer for Teen Network Magazine and you can reach him on firstname.lastname@example.org