Most Profitable Businesses to Start in Kenya in 2022

By Jane Muia / Published May 30, 2022 | 12:44 pm




KEY POINTS

Some people often decide to venture into entrepreneurship with a clear vision of what they want to achieve and the right path to use to make their dream come true. However, some new entrepreneurs find it challenging to figure out the most profitable business to invest in.


profitable business

KEY TAKEAWAYS


Before starting a business, it is essential to be informed about the whole process. Try to check some factors such as starting cost, competitiveness, industry growth, and the profitability potential of the business. There are various businesses with a minimal starting cost yet very profitable.


Some people often decide to venture into entrepreneurship with a clear vision of what they want to achieve and the right path to use to make their dream come true. However, some new entrepreneurs find it challenging to figure out the most profitable business to invest in. They are also unsure of the correct procedure to use to grow their business while sustaining its growth.

Before starting a business, it is essential to be informed about the whole process. Try to check some factors such as starting cost, competitiveness, industry growth, and the profitability potential of the business. There are various businesses with a minimal starting cost yet very profitable.

If you are looking forward to being your boss, here are some of the profitable businesses you should consider.

  1. Car Wash Services

This is one of the most thriving businesses in Kenya primarily due to the rising number of cars on the Kenyan roads. According to the Kenya Institute for Public Policy Research and Analysis, there are at least 2.5 million vehicles on the Kenyan roads, and a forecast of 5 million more cars on the roads by 2030.   This means that the business will run for years unless new innovations are revealed.

The good thing about this business is that its less prone to market fluctuations. You will need brushes, a towel, a water system, a washing system, blowers, etc., to start.

  1. Beauty Shop

This is one of the fast-growing areas of entrepreneurship. Its advantage is stability and resilience during a crisis. Demand for beauty products is rising, and it will be so even in the future. Women and also men are willing to spend their money to look good.

ALSO READ: How to Safely and Cheaply Invest in Government Infrastructure Bonds

This business may consist of a cosmetics shop, hair salon, nail salon, tanning salon, etc.

  1. Graphic Designing

Today nearly everything has been digitized, and people depend on the internet for many things. Graphical representation of ideas related to any product is important to market a business well. Every entrepreneur wants their business to present unique products to survive the competitive market. They, therefore, need graphic designers to make attractive images that help the business achieve some unique identities.

Creating attractive images appeals to buyers, making it easier for them to remember a particular brand. Good designs and layouts have the potential to convert viewers into buyers. Graphic design can never go out of fashion and will always be in demand.

  1. Hardware Store

This is another business that is profitable when you have customers. Today, most people want to invest in real estate; therefore, the increased demand lifts this business to greater heights. You only need to get a suitable location and identify whether the location has customers with high purchasing power.

Although starting this business may seem challenging, it succeeds when you have good knowledge of how to run it. You need to grasp some secrets in the hardware business and be different from your competitors.

  1. Movie Shop

With the high demand for Western Films, this business is increasingly becoming a lucrative venture. It is also a very sensitive business; therefore, you’ll need the right license to avoid copyright infringement.






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