Thinking of business to start with 50k in Kenya?
For some time now here in Kenya, there is this quote that has been trending on social media “study hard and graduates, then hustle like a dropout”
With the rising level of unemployment in Kenya, the thing that will benefit you is starting your own business.
Self-employment gives you the freedom to start and run your business solely without any interference and with as much as 50k, trust me, you can be your own boss if you get the right simple business to start in Kenya
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Below are examples of businesses to start with 50k in Kenya;
As much as most people see this job as for the uneducated, it a thriving job in the country earning lots of money.
I have a sister who owns a salon and the least she gets on the bad days is Kshs 700 while on the good days, she can even go home with Kshs 5,000. Isn’t that a business you would consider starting?
Of course, it is and with only 50k you would get the ball rolling.
How would you like dressing people? A fashion parlor is a business to start with 50k in Kenya or even less.
You could get yourself somewhere to go for the clothes at wholesale price. Say Eastleigh, Kamukunji, Gikomba among other places known for cloth supply in Kenya.
With the 50k, you can rent yourself someplace to sell from and buy the stock.
All you need is to create a platform where people meet and interact, and finally become a couple. With your 50k, you can create a dating site then watch as it brings you quick cash.
The advantage with it is that it’s not yet a competitive business in Kenya meaning more bankroll.
Real Estate Agency
How about trying managing a real estate business which is fun and profitable?
No special skills are needed to be a real estate agent, you only need to know the owners of the premises and apartments. 8% of the net collected rental income, is what a Nairobi real estate gets.
Assuming the agent manages 10 apartments that bring in a total of 1 million per month, then he is guaranteed Kshs 100,000 each month. Isn’t that good money?
Home Cleaning Company
“A big business starts small” Richard Branson
This is a simple business to start in Kenya. You can begin by starting a small company which won’t cost you much then grow it with time.
Due to tight working schedules, people, especially in urban areas, rarely have time for cleaning work, therefore opting to go for the cleaning services.
You may choose to specialize in either residential or commercial cleaning, the latter being more lucrative.
The last time I went to the lady who sells me beddings, I had gone for a duvet but in addition, ended up going home with a duvet cover, a pair of pillowcases, and a pair of bed sheets.
Even from selling to me alone, I could tell she already made a profit of not less than Ksh 1000.
Assuming she sold to other four people, probably she went home with at least Kshs 5000.
Isn’t that business admirable?
You just have to find a wholesale supplier, who will supply you with quality products that will retain customers.
Lots of Kenyans are always looking for nice places to wind down on evenings and weekends. You can sort them out by setting up an entertainment spot say a hotel, bar, restaurant, casino, nightclub, etc.
Just choose an entertainment business that you are passionate about then give it a try.
Like most other businesses, the towing business also requires you to have business registrations, permits, and licenses. Also because of the risks involved, you’ll be required to have insurance cover.
Your energy, knack for detail and love for music can get you an enjoyable way to earn money as a disc jockey. Professional deejays are hired to provide lighting, sound, and entertainment in different events such as weddings.
Some DJs are also hired as event organizers, so learning both trades will end up making you more “mulla”
Gas Distribution Services
This is another thriving business in Kenya due to the increase in households using cooking gas.
If you are thinking of starting up the business, identify yourself with the market, rent out at a suitable location for the business then purchase the needed equipment and business tools.
Lastly, market your business to the public and who knows? It might be your move to being a millionaire.
Though many people tend to avoid this line of work due to its emotional muddle. However, this is a business that will never grow to extinction since “there is nothing certain in life except death”.
Before starting a funeral service parlor business, you’ll need a certificate of competence.
No day passes without a party happening. Whether for birthdays, weddings, homecoming, or post-graduation, they never cease from happening.
All these parties require planning and places for holding them.
With your 50k, you could start the business of an event organizer for parties and start making good money out of it.
Steps to Start a Small Business in Kenya
With the above examples of business to start with 50k in Kenya, I know that you might have already figured out the job you will want to start. The big question now is; how do I start the business?
But you know what, I got you covered!
Doing research helps you answer questions like; is there a need for my product/service? Who needs it? Is there competition in the market and how is it?
2. Business Plan
This is what makes your business idea a reality. It is a blueprint that covers the business from the idea, its establishment, and its growth. It also helps in case you need extra financing from investors or banks as it helps them validate your idea.
3. Plan your finances
4. Choose a business structure
This is identifying your business entity whether it’s a sole proprietorship, a partnership, a limited liability company or a corporation.
5. Pick and register a business name
6. Get licenses and permits
7. Get an accounting system
8. Set up your business location
Here you go! You have different types of business to start with 50k in Kenya and tips on how to start your business of choice. I know you are now fully armed and ready to get life by its collars.
Nevertheless, if you are also wondering about the kind of business to start with 100k in Kenya we have also got you covered.