This is a list of the most profitable businesses in Kenya as of 2023. Kenya is a regional business hub in East Africa. It is a land of limitless opportunities for any aspiring entrepreneur who seeks to establish a name in the competitive industry.
Here is a list of some of the most profitable businesses in Kenya.
List Of Most Profitable Businesses In Kenya 2023
1. Daycare Business
This is one of the most profitable and lucrative businesses in Kenya. There is a growing demand for daycare services especially in major towns in Nairobi. You actually need to have a deep passion for children to succeed in this business. The secret to succeeding in this venture is to offer eye-catching and affordable services that will attract potential customers. You also need to do a lot of marketing to attract clients.
2. Car Wash
Have you ever wondered why car wash businesses are prevalent in most neighborhoods? Well, this a very profitable business as long as you have a spacious yard and the necessary tools such as modern washing machines and plenty of water supply. The location of your car wash also matters. Ensure the car wash is in an easily accessible area.
3. Selling Second-hand Clothes (Mtumba)
This business requires little capital to start and generates profits quickly. The clothes can be sourced from leading markets such as Gikomba. To reap big, ensure you are fair in pricing and specialise on clothes that target a specific group.
4. Taxi Business
Taxi business is quite profitable especially if you operate your own taxi or drive by yourself. It can also be a good side hustle for those employed elsewhere. There are numerous taxi-hailing apps where you can sign up and offer your services.
5. Garbage Collection
This is a very good business venture especially in urban areas where there are poor waste disposal mechanisms. With the right marketing, you can land a lot of clients, especially in residential areas.
6. Furniture Business
The furniture business is very lucrative especially if you have the passion and necessary skills. What really matters is the location of your business and the products you make. Specialise in making quality items such as seats, sofa sets and many more to attract customers.
This is a very good business that requires a substantial amount of capital to establish. You can also incorporate transport business, particularly offering transport to clients who purchase items from your shop. You can also earn lots of profits by partnering with construction companies or contractors for tenders to supply construction materials.
8. Wines & Spirits
The wines & spirits business is very profitable as long as you have the necessary permits/licenses. The location of your business also matters a lot. Source for locations that will easily attract customers and ensure you have top-notch customer service skills. Also, be fair in pricing and offer discounts once in a while to attract more customers.