Assuming you have saved Ksh1 million which you want to dedicate into a profitable business, there are many business ideas to try, but you will only narrow down to the most reasonable ones… to be precise, profitable business. Since Ksh 1000,000 is not a small amount to waste, researching on viable business ventures is critical. Here we have a list of profitable businesses to pursue in 2018 with at least Ksh1 million.
- Car wash business
If you are within Nairobi, I would advise advice that put in your list car wash business. Since 2013 I have been researching on car wash business, at first I was skeptical about this venture. Reality hit me that some of the entrepreneurs in this industry make up to Ksh50, 000 per day. There is a time I sat in a car wash along Mombasa road. For 5 hours, I managed to count 20 cars and two trucks. Each car parted with Ksh 300 while each truck paid Ksh5, 000.My estimates for those hours was Ksh 11,000.In that single day,I believe the owner closed with Ksh 25,000.
Car wash business is not a high risk venture. The moment you set it up, you will start counting profits.
- Restaurant
More than 200 successful entrepreneurs sat somewhere in Calfornia.During brainstorming moment, one of them stood and said this, “If you want to make money from the masses, fill their stomach, dress them up, make them look good and heal them”. He meant this: if you want to succeed in business, set up a restaurant where the regulars can come to feed, set up a hospital where they can go for treatment, sell them cosmetics that can boost their confidence, set up a boutique where they can buy clothes. In major towns, especially Nairobi, restaurant business is in the upper quintile of most profitable businesses. With excellent customer care, you will make money you never imagined. But one thing to note is, Ksh1 million is not enough to set up a restaurant in Nairobi CBD:However, you can start within major estates and later move to the CBD when you have saved enough for a more aggressive restaurant.
- Chemist
The third business our eyes are also feasting on is a Chemist. For those who never went to nursing/pharmacy class, it might become hard to start this business; if that’s the case, you can join hands with someone with a diploma in pharmacy, pool resources together and start a chemist.
- Executive salon+SPA
You will never imagine that an executive salon is a gold mine unless you interact with owners of this business. In Nairobi, Mombasa and Kisumu, Executive Salon and SPA does exceedingly good in terms of profits.Personally,I have circled out salons that generate over Ksh 1 million per month…they are located in Kilimani,Westlands,Nairobi CBD and Village Market.
Most of the cash in your capital will go to buying Salon and SPA equipment. I am afraid you might be forced to spend over Ksh1 million in setting up an Executive salon+SPA but I encourage you to do so as returns will be good.
- Electronic shop/Online business
If there is a business idea to think of is electronic business. But since nowadays people purchase gadgets online, it’s good to have both a shop and online store. You can contact venas News through 0722927138 or [email protected] for e-commerce website.
What I have found out is that if you are a gifted entrepreneur, you will never miss to generate upwards of Ksh1 million per month in profits. In my calculations, when you sell one Ksh20, 000 phone, you make a profit of Ksh3, 000 to Ksh5, 000, which means if you sell three of these phones in a day, you will generate up to Ksh15, 000.When your store grows to the level of Jumia, you will manage to generate profits in the North of Ksh15, 000 per month.
- Agrovet
Agrovet is ideal for individuals who in Kiambu, Kisii, Rift Valley and Most sections of Central Kenya where farming is dominant. With an Agrovet,you won’t go wrong.
Agrovet business is a sure bet but only if it’s practiced in agricultural areas.
- Cosmetics
People often underestimate cosmetics business. For those who have little or sufficient knowledge of this business, they would never hesitate to encourage you to try it.
If you want to make quick wealth anywhere on earth, venture into business dealing with women products-cosmetics industry is one that dominates the rest. After launching one, it won’t take time for you to start sitting in the front raw of millionaires.
- Web hosting company
Many bloggers would advise you to do any other business but they haven’t touched on Web Hosting Company business. In Kenya, over 100 websites are created every single day. These websites need someone to host them. I know almost every web hosting company in Kenya and I can confess; only one is worth being mentioned. Web hosting community is small and there are a lot of opportunities in this industry.
If your capital exceeds Ksh100, 000, you will find it easy to join this industry. To make it easy for you, I will reveal that you don’t need servers, simply contact Bluehost through this link, buy reseller plan and start distributing it among your clients.
######We only restricted ourselves to realistic businesses to launch in Kenya. We advise you to avoid boutique, matatu and cyber café businesses as they are volatile.