Most Profitable Business Ideas in Kenya 2023
Kenya’s economy has gradually grown and continue to bounce back from the pandemic in 2022 with a GDP of 6% increase year on year in the first half of 2022 as result broad-based increases in services and industries. The economy had an effect from long regional drought and other uncertainties following the 2022 general elections.
The Gross Domestic Product (GDP) represents 0.05 percent of the world economy.
In this article we will highlight today some of the profitable business that you can start in Kenya with less capital and that will earn you an utmost of 3,000ksh per day.
Before you venture into a business in Kenya, its quite advisable to do a market research based on geographical location and the population of inhabitants in that area. A business that is run in Nairobi capital is different from the ones located at the Turkana regions in Kenya. Demand is also another that’s worth considering. AS the white collar jobs becomes scarce in Kenya, Most of the employed and non-employed entrepreneurial mind runs small businesses with an average profit to make a living.
We have highlighted list of most profitable business ideas to start in Kenya 2023.
- Fast food business
Our first thought in this article is a fast food business as a lucrative one. This business requires a good strategic place with a start of smaller capital. This is service business that you wouldn’t miss clients for a highly dense population. An entrepreneur can focus on specialty of foods that suits the consumer from community to another.
- Car wash business
This is another thriving service industry in most of the areas in Kenya. Vehicle owners needs their machines to shine and increase the resale value. To start this type of business, one needs to lent a space, power and the high pressure car washing machine that retails at a reasonable price in Kenya.
- Spare parts shop business in Kenya
Spare parts shop business in Kenya does not require much capital to start with. The idea is the know how of spare part and repair skills. Considering the facts that the Germany made machines are highly costly as compared to Japanese vehicles in Kenya. The owners of this vehicles would prefer to buy second hand spares with a lesser price. The spare parts should target both high end and low end vehicles.
- Tours and Travel agencies business in Kenya
Kenya has the most tourist attraction places to visit so does the tourist who travel into the country for leisure across the globe. Some of the Kenya’s tourist places are Amboseli National Park, Mt. Kenya, Lake Victoria, Lake Naivasha, Samburu National Reserve, Diani Beach, Manda Bay, The Great Rift Valley, etc.
- Landscaping in Kenya business
Private homes are increasingly growing and many home owners requires regular activities like Gardening, landscaping and lawn maintenance.
- Delivery business
Since the inception of ecommerce industry, most buyers opt for delivery of goods right at the doorstep. This have tremendously increased the usage of bicycles, motorbikes and trucks nationwide. While some do home pickups and deliveries across the regions or even globally. These includes the G4sk Kenya Courier, Mambo express, Jumia Kenya, Glovo, DHL Kenya, etc.
- Cosmetic shop business in Kenya
Cosmetic business involves selling of products like perfumes, nail polish and hair makeups. Blending it with others services like manicures and pedicures really boost your profit margins. An entrepreneur can decide to sell both in retail and wholesale prices.
- Electronic consumer products business in Kenya
Electronic business in Kenya is booming each and every year. There is huge demand for newly launch consumer electronics this is due to changing lifestyle with technology. Give the spike in demand, many businesses minded people imports high end refurbished electronics from abroad that’s expensive if you were to buy locally. Despite the logistics and taxes, buying them in bulk at wholesale price will in return cover the gap of shipment. Music systems and smartphones are in demand in Kenya. Going digital with these goods is another excellent strategy to broaden the network for the target audience.
