Although capital is a requirement to start a profitable business, you don’t need a lot to do so. To prove this, here is a list of the top 10 profitable businesses you can start with 5K in Kenya.
If you engage the most successful business people in Kenya today, you will notice they started with little capital. Hence, so can you. The only key requirement is for you to work hard and don’t give up.
Obviously, 5K capital will not allow you to start a fancy business in a key strategic location. However, it will enable you to start small and focus on scaling.
Top 10 profitable businesses you can start with 5K in Kenya.
These businesses vary in type and skills. However, it is for you to choose the one that suits your best.
1. Making and selling marts
Marts are present in almost every home due to their many uses. These needs and demands create an opportunity to start a smart business. One key requirement to succeed in this business is having the mart making skills.
This you can learn online or through a friend who knows how to do it. To make a mart, you need to have tools such as a crotchet and mart fiber.
These items are affordable and fall within the 5K budget. In most cases, the cost of making a mart could range between 2K to 3K shillings with a selling price averaging 5,000 shillings. As a starter, target to sell to your neighborhood and do door-to-door marketing.
2. Forex trading
The forex trading business is now easier to do allowing traders to start with as little as 1,000 shillings.
Forex trading involves buying and selling currencies across the world as I had explained in my article how to start forex trading in Kenya.
To succeed in forex trading, you need to first invest in knowledge and learn the market. The opportunities in this market are endless as long as you get a winning trading strategy and learn to control your emotions.
The amount of income you make from a 5,000 shillings capital depends on your skills and experience. However, it is possible to double or triple it in a month.
3. Mitumba business
The mitumba industry is a lifeline for thousands of Kenyans. This is because of the low capital startup requirements and insatiable market demand.
Mitumba items such as clothes or shoes are affordable making it possible to start the business. With 5000 Shillings, you should consider doing hawking as the amount is not enough to get a physical shop.
There are mitumba items that cost as low as 50 shillings and sell at double or triple the price. However, it will take time to get a reliable and consistent customer base. Ensure to only get the good quality items as those attract customers better.
Learn more about how to start a successful Mitumba business in Kenya.
4. Making and selling beads
Kenyans are big buyers of beads made ornaments such as necklaces and armbands. This has created a lucrative opportunity for potential investors in the bead industry.
To succeed in this business, you need to learn how to make these ornaments and do so fast. You can learn through a mentor or online tutorial.
Bead-making doesn’t involve a long learning curve. You also don’t require a physical shop as you can make them at home and then hawk them.
The only trick is to offer quality products and target the right market. In a busy town, the bead business can make you up to 1,000 shillings a day for a starter.
5. Blogging
Blogging is a modern business that involves creating content only. You can blog about any topic as long as you will get readers.
With 5,000 shillings capital, I would recommend you start with a free blog site. This means you will pay nothing to set up and start.
In the blogging business, you win by creating relevant and quality content. Hence, you have to take your time and energy to consistently create content.
Some of the sites offering free blogs include WordPress, Wix, and Blogger. As the blog grows and starts to get traffic, you can then upgrade to a paid domain name and hosting services. These too are affordable and could also cost less than 10,000 shillings.
As a blogger, you make money through various activities such as Google AdSense and affiliate marketing. Below is a complete guide on how to start a blog in Kenya.
6. Grocery shop
A grocery shop is among the top 10 profitable businesses you can start with 5K in Kenya. This is because there is a ready market for groceries.
These shops are also easy to start and operate. With this amount of capital, you only need a temporary space and a small capital to buy groceries. Some of the most common items sold in a grocery shop include tomatoes, fruits, onions, and vegetables.
This list represents items that we use on a day-to-day basis and hence a ready market exists. You can start with a stock of as little as 2,000 shillings and then scale once the business grows.
7. Weighing scale business
I trust you have either used or seen weighing business services along the streets. The majority of people like keeping tabs on their weight and hence do regularly use these services.
To do this business, you need a weighing machine that you can get with as little as 3,000 shillings. You should then get a strategic location that has a high traffic flow.
The charges normally range between 10 to 20 shillings to weigh. It all depends on the location. On average, you should target to weigh at least 50 people per day. With this amount of customers, your income with a range between 500 to 1,000 shillings per day.
However, you may be required to pay daily charges to the county government.
8. Seasonal fruit selling
Each fruit has its peak production season. This is the time whereby fruits are readily available at affordable costs. Some of these include mangoes, oranges, and avocados.
If you don’t have the funds to rent a shop or stall, consider doing fruit hawking as it is with thousands of such investors. With such as setup, the costs will go to buying stock and paying the daily authorities charges. There is a huge fruit demand in the country and hence getting a market is easy.
Ensure to sell in a busy street to increase the chance of getting more buyers.
9. Selling socks
Selling socks is highly profitable when done correctly. They are also in high demand due to their daily need and use.
Selling socks mostly happens informally through semi-permanent stalls or hawking. To start, consider doing hawking. Most of the costs will go towards buying starting stock. Due to the little income per pair, target to sell as many as possible to increase your returns.
One of the tips is to have trendy socks as customer preferences keep changing.
10. Perfume business
The Kenyan appetite for perfumes makes it an ideal business for anyone with little capital. As a starter, target to do the refill business as it is affordable.
The cost range is 100 shillings making it possible to have some varieties to meet different customer needs. As a start, it is more practical to sell to your friends and neighbors. You can also have an online page to reach a wider market.
Below is a recap of the top 10 profitable businesses you can start with 5K in Kenya.
- Making and selling marts
- Forex trading
- Mitumba business
- Making and selling beads
- Blogging
- Grocery shop
- Weighing scale business
- Seasonal fruit selling
- Selling socks
- Perfume business
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