The purpose of every business is to make profit. There are many business ideas that are worth investing in today. Therefore, one needs to choose the Most Profitable Business Ideas in 2019 to guarantee returns on the capital invested.
Kenya has become one of the leading investment destinations within Africa in the past few years. This simply shows how good the economy is thriving as it acts in favor of investors.
It is not so easy for one to determine the Most Profitable Business Ideas to invest their money on. For this reason, I have created this article to help you find the right investment option for your money.
Also, read; Top ten Best Investment SACCOs in Kenya
This article contains a list as well as a brief description of some of the most profitable business ideas in Kenya today. So, read through to the end to find an opportunity you can invest in.
List of Profitable Business Ideas In Kenya
Investing in one of the following guarantees you good returns on your capital. It is a list of most sought-after businesses with very many people as potential customers.
Here is the complete list of profitable business ideas in Kenya:
- Real Estate Business
- Cosmetics Shop and Boutique
- Advisory/ Consultancy firms
- Events Planning and Management
- Garbage Collection Services
- Horticulture Business
- Wines and Spirits Business
- Courier Services
- Gym / Fitness Centers
- Furniture/ Interior Designs business
Real Estates Business
Typically, Real Estates business involves activities surround the sell, purchase or development of land. With the increase in population within Kenya, The demand for residential buildings as well as commercial ones has gone very high. This has led to a rise in prices of land and buildings making Real Estate one of the most lucrative businesses in Kenya.
Also, assets such as land and buildings always appreciate in value. This makes Real Estate the safest business Idea since the investor does not easily make a loss as time goes by.
Although it looks expensive to start and run this business, all it takes to start the business is registering a company. Before you purchase your own land, you can act as a mediator between a buyer and seller then earn from commissions.
Cosmetics Shop and Boutique
We live in an era that appreciates beauty so much. Your face and outfit can be used to define who you are. For this reason, the demand for cosmetic products and new clothes has been rising each day.
Investing in a cosmetics shop and a boutique is a guarantee for good returns since the items are on a daily demand. However, for success in such business, the location of your shop is very vital.
The business should be in an area where you can reach as many customers as possible especially near higher learning institutions or in towns. You can also take it to social media platforms so that you can reach more people within a short time. This helps in expanding your customer base.
Advisory/ Consultancy firms
Many big companies are investing in new markets. In order to succeed in business, they need advisors who will guide them on what steps to take. This is where the need for consultancy services comes in.
Setting up your consultancy firm and having a qualified team to deliver the services is a sure way of utilizing this opportunity to make money. Advisory/Consultancy firms can be contracted to do researches or handle finances on behalf of clients.
Events Planning and Management
Organizing events for companies or people can earn you good money too. Many companies that hold end of year parties or retreats look for event organizers and managers to take care of the events.
Also, to avoid the stress, many people seek services of events planners and managers to handle personal events such as weddings and birthdays. Pricing for the events varies depending on the nature of the event and the expected number of those attending.
Other than organizing events for people, as an event organizer, you can organize your own event and charge people to attend. Also, You can earn from sponsors who would want to be featured in your event for promotion purposes.
Garbage Collection Services
Garbage collecting is seen to be an unattractive business but it is very profitable. With the Increased number of residential flats, there would be garbage all over if not for the services offered by garbage collectors.
With garbage collection, you can either charge the clients per house or as a unit depending on the volume of garbage collected from their place.
Also, one can apply for government contracts to be collecting garbage from public places such as the streets. This is one sure way of guaranteed payment for services offered.
Valuables such as plastics disposed of as garbage are collected, recycled then sold to customers again. This makes garbage collection an investment that earns you money in two ways at the same time.
Have you ever asked yourself how much you would make if you sold 100 roses? What if you had 1000 roses?
Horticulture has proven to be one of the Most Profitable Business Ideas to invest in here in Kenya. This is because Horticultural products have a good market both locally and internationally.
If you decide to grow flowers for export, you are guaranteed good money in return for your investment. For years, Kenya has been noted as a big exporter of horticultural products. This simply means that you can never lack a market for horticultural products if you have them for export.
Wines and Spirits Business
Kenyans love parties, and most of these parties don’t end without a drink or two. Wines and Spirits business is another way of making good money in Kenya today.
Although the business requires heavy capital investment and strict registration procedures, it takes just a few days in business before you start making good money. However, the business requires adequate morals since selling counterfeit alcohol is a threat to human life.
Also, while in this business you will have to play by the government rules to avoid being shut down. Such rules include not selling alcohol to those below 18 years and operating within licensed hours.
Businesses take place between people who are miles apart thanks to the internet. Purchasing goods online means that the buyer will need someone to take the item to where they are. This is one of the reasons for investing in courier services.
Although there are existing courier services, they still are not enough to provide the services to all that need them. Thus, setting up a courier services firm and offering services at an affordable price will guarantee you good money in return.
Gym / Fitness Centers
People want to stay fit and healthy. The only way to be fit is by working out, especially for those who spend a lot of times sitting in offices. Setting up a Gym is one of the most lucrative investment options in Kenya currently.
With a Gym, you can either earn through registration fees or charge people per training session. If the gym is well equipped and with a qualified trainer, You can be sure of having many clients and this means more money.
However, the location of the business also determines how much you earn. For instance, setting up the business in classy areas such as Parklands or Westlands in Nairobi will earn you more.
Furniture/ Interior Designs business
Quality furniture is very expensive. This makes selling furniture one of the best ways to make money in recent years. A dining set can cost up to Ksh. 250,000 and a couch costing from Ksh.35000 onwards.
However, many people don’t really know how to match colors to give a perfect blend of the house and furniture. For this reason, selling furniture and offering interior design services go hand in hand.
A client would explain to you what they want the house to look like and you would sell them the furniture that suits their description as well as offer interior design business. Doing interior design and selling furniture at the same time is a sure way of earning twice and at the same time.
Although the businesses are likely to earn you good money, you have to put in effort for success. Such business requires huge capital investments so if you don’t work hard enough you might end up in huge losses. You can also find out about businesses that you can start with less than Ksh.20K here.