Towards the end of last year, many people set goals that they want to achieve this year. Some want to buy homes while others want to start a family, buy cars, become financially independent, and many more. It is with no doubt that 80 percent of the people who have set goals for this year are now working hard to see their goals achieved.
Starting a business is a common goal that people set. Some achieve while others don’t, due to various factors. Starting capital has been the biggest hindrance to business startups. However, people tend to ignore the fact that a business can be started with a very low amount and grow to become a huge firm.
Let’s look at some of the most profitable businesses that you can start with 50-100K.
- Food joint
This is one of the smartest business ideas that will not disappoint you. All you need to do is ensure your products are quality assured. The business is very competitive and you will need to be creative and innovative enough to beat the competition.
Requirements for the business
- Equipment – after getting a good location, the next thing you will need is securing equipment that you will use to make your meals. These include kitchen appliances, utensils, seats, tables, etc.
- License- County Council Single Business Permit goes for 5,000 depending on the region.
With good customer flow, this business can give you up to 100,000 shillings per month.
- Pool table
This can be a very lucrative venture when you have a good flow of customers. It has very low competition and can make you good money. You only need a business permit to run it. To apply for the pool table license in Kenya, you need to pay an application fee of 250 shillings, and a license fee of 5,000 shillings.
Pool tables in Kenya cost between 30,000- 100,000 shillings depending on the quality of materials used to make them. However, you can get second-hand pool tables for as low as 20,000 shillings.
Pool table startup capital breakdown.
- Pool table machine – 30,000 shillings (second-hand)
- license – 5,000 shilling
- Application fee – 250 shilling
- Rent – 10,000 shillings
If you are running other errands, this can be a very good side hustle since you do not have to be there physically to run your business. All you need to do is to set the pool table and when customers come to play, they deposit some amount to open the pool table.
- Car Wash Services
This is one of the most thriving businesses in Kenya primarily due to the rising number of cars on Kenyan roads. The Kenya Institute for Public Policy Research and Analysis forecasts over 5 million 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 it’s less prone to market fluctuations. You will need brushes, a towel, a water system, a washing system, blowers, etc., to start.
- Cosmetic 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.
Startup capital for a standard beauty shop.
- Single user permit 5,000
- Fire Inspection Certificate 3,000
- Rent (1 month’s rent and Deposit) 20,000
- Beauty products- 30,000
- Furniture 5,000
- 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.
Startup capital breakdown
- Business Permit – 5,000 shillings
- MSK License – 4,000 per year
- KFCB License – 5, 000 shillings
- Computer- 20,000
- Hard disk – 10,000
- Internet- 4,000 plus 3,000 installation fee
- Furniture 10,000
- Rent – 14,000 inclusive deposit
- Smokie and Eggs Business
Around 50,000 shillings is more than enough to start this business. It is one of the most profitable businesses with a very low starting capital. So how much do you need to start this business?
- Trolley – 6,000
- Jiko – 700
- Cutlery- 100
- Smokie- 400 (22 pieces)
- Eggs – 400 crate
The profit margins in this type of business are huge, especially in a very populated location. For instance, When you buy a packet of smokies at 400, with 22 pieces, and sell each piece at 30 shillings, you will make a profit of 260 shillings. If you sell 4 packets per day you will get a profit of 1,040 shillings.
At the same time, if you sell a tray of eggs which is currently selling at around 380 shillings, and sell each egg at 25 shillings you will get a profit of 370 shillings, meaning two trays will give you a profit of 740 shillings.
If you combine the eggs and smokies profit, you will have pocketed a total of 1,780 shillings in profit per day. If you subtract other costs for Kachumbari and charcoal which is an average of 300 shillings, you will have made a profit of 1,480 shillings a day.
If your business is running for 6 days a week, you will have made 8,880 shillings, meaning the monthly profit is 35,520 shillings.
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