Entrepreneurship is what everyone is into now.
It has become a thing for fresh college graduates who go unemployed for years after graduating. It is generally believed that to start a business, you need a huge amount of money.
But that is not true. It is all about how good your managerial skills are and how well you treat your customers. In fact, with as little as Ksh20,000 or less, you can run a successful business that can bring you big profits.
Here are some ideas:
Operating a Salon/Barber Shop
This business is underrated but the rewards are handsome. In Nairobi, for instance, there are salons which charge up to Ksh50,000 per head but the normal charges range from Ksh600 per head. It only depends on how you brand yourself. You only require skills, strategic location and consistence.
You can start the business by visiting clients in their homes and then later look for a physical location where clients can easily trace you.
The capital required to start a salon in Nairobi depends on location and the size of your business. Rent for a standard single room in Nairobi, outside city centre, goes for Ksh8,000-Ksh 15,000 per month.
You are also required to buy equipment to run the salon, which will cost you approximately Ksh 100,000. The equipment can be purchased with time. With just a blowdry and its accompaniments, you are good to go.
A barbershop, on the other hand, is very easy to start and requires a capital of less than Ksh30,000. Depending on the location, a barbershop can fetch up to Ksh2,000 per day. I once operated a Berber shop, but outside Nairobi, and I was comfortably getting a net profit of Ksh 15,000 per month.
Everybody loves chicken. If you have a small farm, then think of starting this business because you will reap big. You can start with 10 chickens and improve with time. Starting chicken rearing business requires a capital of as low as Ksh20,000; what will cost you some money, especially if you are keeping broilers, is the amount required for drugs and chicken feed.
The traditional chickens are easy to rear but they take more than six months to mature, but the broilers only take five weeks to mature. Yes, five weeks. If you spend a total of Ksh 50,000 on chicken, you can make a profit of between Ksh 20,000 to Ksh 40,000. This is after five weeks. The profit increases as you increase the number of chicken you rear.
Printing and Photocopying
This is another good business which you can start near a school or college, or in a crowded environment like Nairobi. Starting the business will require you to have Ksh30,000-Ksh 200,000 as capital. All you need is a printer, photocopier and the money will start coming in.
Selling second-hand clothes
Many young people are turning to selling secondhand clothes. In every business centre in towns or residential areas, you will notice shops or stalls selling these clothes. It is one of my favourite business ideas so far. The trick is starting small by selecting good and fast-moving items such as children’s clothes or official ladies clothes. Do your selection carefully to have a high chance of quickly turning over your stock. As a small business, never tie down your cash in stock.
You may choose to wash and iron clothes to attract more value. Gikomba is a good place to start. Many successful secondhand clothe dealers started there. Decide on your routine such that you replenish your stock weekly. You may operate by visiting your clients either in their workplaces or homes to sell to them. This will eliminate the need to pay rent for a shop or stall. You can wash, keep and iron your stock at home. If you decide to rent a stall, start small. Look for a strategically located place going for less than Sh10, 000.
Boiled eggs and Sausages
If you are a small entrepreneur or you have very small capital which will not be enough to start a big business, this is where you can start. To start sausage, samosa and eggs business you need a capital of between Ksh 2,000-Ksh 10,000. What is surprising is that it’s very profitable. One can buy a single egg at Ksh 10 and sell it at Ksh 20, thus making Ksh 10 profit per egg.
Day care Services
With parents getting busy by the day, small children are increasingly being left at home under the care of house helps. Many parents are worried of the safety of their children left at home because many house helps are known to abuse children left under their care.
Small businesses that cater to kids are hot moneymakers. Parents don’t have enough hours in the day to take care of every programmed event for their children. Talk to parents with small children who do not go to school in your neighborhood. Explain to them that you can look after their children well at a small fee. Target children between the age of 1 and 3 years. You do not need to start with renting a place; you can use your house.
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All you need to do is to buy secondhand toys, both hard and soft, to keep the children busy the whole day. Prepare to feed and wash them whenever necessary. If you have to, you can hire an assistant to help out with the children.
Ensure you agree with the parents on the exact time of dropping and picking the children, feeding, fees charged or any other special needs the children may need.
Selling Ice-cream and Snacks
Ice-cream business is a lucrative venture in major towns in Kenya, especially during dry periods. Most people who engage in this business don’t want to reveal the secrets to others because they fear competition. If you have a fridge, you can comfortably start the business without breaking a sweat. Ensure the business is close to the main road.
To start ice-cream business, you require a capital of between Ksh20,000-Ksh 70,000. Some of the best places to start ice cream business include near schools and colleges, in Shopping Malls and Supermarkets, along busy roads, near offices and near hospitals.
Now get out and start doing some business.