Our main focus in this article is to highlight the new most profitable business ideas in Kenya that you can start in 2020. Globalization has brought dynamism in the way people make money the world over.
There are hundreds of thousands of opportunities and careers which are shaped by politics, geography and other aspects.
A few years ago, the Kenyan economy was heavily dependent on agriculture as the backbone of the country. However, this narrative is changing and it is changing fast.
Many people are getting educated and we are headed to a knowledge economy where the country will be getting most of its resources from SMEs.
In the wake of a knowledge/skill based economies, here are some of the top-selling and most profitable business ideas in Kenya for 2019.
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Which are the Profitable Business Ideas?
When it comes to investing, many people always have a problem with choosing the perfect idea. To help you streamline your thoughts, here is our list of the most profitable business ideas in Kenya.
From where we stand as a country, the only way Kenya will maintain its legacy and unlock economic growth even further is through SMEs. Here goes our list of most profitable business ideas in Kenya:
- Unit trust
- Beautification Jewellery business
- Personal training business idea
- Home Gardening
- Catering business
- Fashion Design & Tailoring
- Tuition services
- Soap Making Business
- Daycare and babysitting
- Online Business
- Carpet and rub making business
The big mistake that people make is waiting for a time that they will get capital to start a business.
This delays you and gives your competitors an added advantage. If you feel that you want to start a certain business, the best time to do so is always yesterday. You do not have to start big.
By starting small, you understand the loops better and minimize the overall risk all the same. Most businesses listed here do not require huge capital to start so anyone willing to be a business owner can take on any of them.
These opportunities have been picked as the most profitable business ideas in Kenya that have been least tapped into.
Be a Personal Trainer | profitable business ideas in Kenya
If you are passionate about sporting and health, this is another opportunity that could earn you good money today.
Presently, many people are concerned about their health and are willing to pay crazy money for personal trainers who can coach them and give them secrets of living a healthier and active lifestyle.
The beauty of this opportunity is that you earn good cash while improving the lives of others.
If you find this as a relatable business opportunity, you can even start a personal training agency because I have not heard of one yet in Kenya.
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Home Gardening | Profitable business ideas
There has been a constant demand for organic food in Kenyan homesteads but no-one is willing to go the extra mile to get their hands dirty. Nonetheless, everyone is getting concerned about their health.
This makes home gardening a viable business opportunity, especially among urban dwellers. Be the one to breach the gap and help people to live better and healthier lives.
To do this, you should explore the most common vegetables used in Kenyan homes and begin to grow them on a piece of land you own or one you have leased.
Some of the vegetables you can cultivate include; onions, tomatoes, capsicum, coriander, Kales among others.
Let your customers know that your products are organic and with time, you will have a huge clientele craving for your organic produce.
Beautification Jewelry business
Kenya is one of the most westernized African countries which mean people are always copying trends in the West.
One of the major trends today is the beauty and jewelry business. There is a huge market in Kenya for beauty products and jewels and people are willing to spend a fortune just to look good.
If you have the skill of making beauty products like lotions, soaps, and perfumes, then you stand a chance of making really good cash.
When it comes to jewels, they can be in different forms such as wood, glass, beads, shells, expensive stones and metals.
Knowing where to source these products and sell them at a profit will definitely earn you good money.
You can even think outside the box and start to export Kenyan jewels such as bracelets, earrings, necklaces and other jewels made entirely from beads and African materials.
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Catering is an interesting opportunity since you only need catering skills. If you trust your skills, the only other thing you need is a client’s kitchen and you will be good to go.
You can grow your network of clients over time and even recruit other caterers to meet the needs of your clients.
The truth is that people love well-prepared food and they will pay whatever it takes if you can give them that.
Soap making is somewhat a traditional opportunity now but I guess it depends on what you are doing. People have been making liquid soaps and washing bar soaps for a long time and the market is somewhat saturated with homemade soaps.
However, there is another aspect that people have barely touched. I recently watched a documentary about a lady who makes beauty soaps and skin oils from different seeds like palms and olives among others.
The Lady had made sales of $80,000 which is an equivalent of 8 million shillings on the year she started making the beauty products from natural oils.
Online Business | Profitable business ideas
The best time to start an online business was yesterday.
As more Kenyans get access to the internet every day, it is only wise to start an online business today.
Internet entrepreneurs are making millions in Kenya and abroad. The beauty of online businesses is that it is not limited to demographics and geographical boundaries. You can read my article on online businesses that you can do in Kenya Today.
Fashion Design and Tailoring
I have known people who make six figures as fashion designers. Well, this is not an opportunity for just anyone.
However, if you have an eye of design, you can make good cash in this industry.
Presently, people are hiring personal designers to design and tailor their clothes. If you do not have the skill but you can tell what good designs look like, you can hire good tailors and put them in a room.
Starting with a couple of designs, you can appeal to certain clientele and grow your business exponentially.
Home daycare/ Baby Sitting
One of my friends who run a successful daycare business today started it in a very unique way.
She was not on a permanent business and one day she woke and there was no work anymore.
After waiting for several weeks searching for another job, an opportunity came her way.
Most of her neighbors were employed and had small kids.
They had a hard time taking the kids to daycares that were far from their residence every morning.
One day, she approached some of the working parents with kids and to her surprise; it was a relief to them.
Just like that, parents came knocking at her door one after the other until she rented out a room and started a daycare business.
Carpet and Rugs business
It is hard to miss a carpet in almost every home nowadays. Even people with carpets are still buying extra ones for their bedrooms, and other spaces in their homes.
Carpets have a way of increasing the sparkle and coziness of a room.
You can start a carpets’ and rug business in Kenya and make desirable carpets that will win you, customers.
Most homeowners are on the market for beautiful carpets and these could be your customers.
You can even go the extra mile to categorize your carpets to; living room carpets, bedroom carpets, dressing room carpets, and dining room carpets.
Investing in Unit Trusts
If you have money that is sitting idle in the banks, you might want to consider investing that money in unit trusts.
Unit trust companies promise to invest your money and give you better returns than the interest the money would have accrued in a bank.
They invest your money and after the maturation, you share the profits made with the company. It is a good way of earning money without breaking a sweat.
Get some advice on how to invest from the best money make come, investor of all time, Warren Buffet: