BUSINESS IDEAS YOU CAN ACTUALIZE WITH SH. 5,000 AND BELOW
Since Kenya confirmed its first COVID-19 case in March 2020, a lot has happened but remarkably the rate at which the economy slumped leading to many job losses and empty pockets.
It is now dawning at many Kenyans that the best job where one can feel secure is self-employment which mostly comes from starting and running a business and earning a living from the business.
Nevertheless, starting a business at the moment when the effects of the pandemic are still within can be challenging hence there is a need to look for a business idea that will need a small capital to begin, after all, the greatest businessmen and women started small but with a view of growing step by step.
In Kenya, there are several business opportunities worth trying and which require as little as Sh.3,500 to start and with enough room to expand because no one would like to remain with a small business all time.
Some of the businesses that you can start and grow to the level of your desire are:
1. Perfume refilling
Fashion is becoming a necessity in our urban areas and many people who invest in this area cannot go wrong.
Today, many people would like to look trendy not only in their adornments but also on how they smell around and here is where you can invest in and find some good income.
You do not need to make your own perfumes for it can be expensive for a starter due to the ingredients needed, but buy from some companies where you can get the products at some cheaper price.
The amount of capital needed to start the business will depend on how many different fragrances you want to start with. Starting with 10 or 20 different fragrances helps one start with a wide variety.
However, you can start with as low as Sh.3,500 which can purchase you a stock of three different fragrances, display bottles, 2 dozen of 3ml, and a dozen of 6ml refill bottles.
You do not need to own a shop with this kind of business but identify a few customers whom you will supply from time to time as you grow your consumer base. Luckily with the perfumes, if your choices are good, these first customers will draw more.
Good wholesalers will also advise you on the most popular fragrances as per the market trends.
Your expected profit margins:
You can buy the fragrance at Sh.15 per ml and sell at between Ksh.33 to Ksh50 per ml depending on your location. So, with the minimum of Sh.33 you have a gross profit margin of Ksh.33 – Ksh.15 = Ksh.18 per ml.
2. Selling African beadwork
Beads are among the most intriguing and important symbols in the African culture. With time, however, and the cultural exchange around the world, bead workmanship has been evolving to suit the market demands.
Since the practice of bead production and their sale has been a major source of income, many people have flooded the production level leaving a niche at the marketing level, and here is where you can fit should you have some marketing skills that you can display.
You can start by buying readymade items to resell. If you decide to start from scratch, then you will need skills and supplies.
In this approach, the materials are relatively cheap. It will bring more profit but will consume more time. Alternatively, you could decide to buy ready-made products and resell them.
There’s Kariokor market in the outskirts of Nairobi where you can buy such products in bulk. Beautiful neckpieces that retail at Sh.1,000 in the city center can be found in Kariokor for Sh.250 to Sh.400.
3. Supplying liquid soap to professional cleaning businesses
Starting a liquid soap business is easy. However, you will have to learn how to make soap at home. It’s easy.
Some of you must have been taught this using sunflower oil, coconut oil, potassium hydroxide – KOH, distilled water, boric acid, essential oil, and dye.
All these cannot even cost Sh.1,500 and you could make many litters of soap from the materials for sale.
A litre of such soap goes for Sh.50 and you can sell up to 250 liters or even more especially during weekends earning a tidy sum.
*Finally;
We can go on and on. There are many ways to invest as little as Ksh.5,000 provided one is willing to think outside the box.
The most important qualities needed in this case are patience, good marketing skills, and the ability to spot opportunities where others see impossibilities.
There is no limit as to what business you can engage in. With money as little as your relatives give you for pocket money, you can always start a business. So don’t sit there and complain. Get up and do something.
By
Justine Nyachieo
Business Man & Mentor
and
Timothy Angwenyi
Business Consultant
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