Boasting of the best and fastest growing economy in East Africa, Kenya is a good place for entrepreneurs; both native and foreign, to consider investing in. So if you are planning to start a business in Kenya, it’s important to analyze the common unsolved problems the country is facing and the various businesses plus markets operating in the country. This post will help you immensely, as it discusses the top 10 business investment opportunities in Kenya.
1. Laundry services
This business thrives well in any economy – recession or not. There’s a large market to cater to, as many Kenyans are busy with their day jobs and have little or no time for laundry. To start a laundry business, all you need are a washing machine, pressing irons, and a few other items. So, it’s very easy to start, but very lucrative.
2. Open an Entertainment center
There are a lot of expatriates in Kenya, especially in Nairobi; and these expats (Kenyans included) definitely need a place to wind down in the evenings and on weekends. You can cater to these needs by setting up an entertainment hotspot such as a hotel, bar, restaurant, cinema, casino, fast food joint, night club, etc. In fact, the list is endless. Just choose a entertainment business you are passionate about and give it a go.
3. Setup a security guard company
After the 21st September 2013 deadly terrorist attack on Westgate Shopping mall in Nairobi, there has been an increased security awareness throughout Kenya. Unfortunately, the police and military cannot do it alone; thus creating an opportunity for smart entrepreneurs to make profit while providing an essential service.
You can setup your own security guard company, train able-bodied men and women, deploy them to companies that need to protect sensitive infrastructure and make your money. It is as easy as ABC but you must bear in mind that your business needs to be license with the assigned regulatory authority.
Now if setting up a security guard company is too capital and management intensive for you, you can still profit from the increasing security consciousness of Kenyans by starting any of the businesses listed below:
- Import and retail security products such as CCTV, security cameras, metal detectors, etc.
- Import and retail self defense products such as pepper sprays, mace, batons, etc.
- Start a seminar brokerage company and organize workshops on security and safety.
- If you have been in the police or military, you can start an executive protection agency and provide escort services to important personalities and high profile individuals.
- You can also setup a vehicle tracking company, if you have the capital, technical know-how and manpower.
4. Daycare center
One thing about businesses in Africa is that there fundamentals are the same. If there is a problem in Nigeria or Ghana, then there is every possibility that Kenyans too might be experiencing the same problem. When it comes to raising children alongside earning a living, there is really a big global problem especially for mothers. In Kenya, just like there worldwide counterpart; mothers are too busy and don’t have enough time for their babies.
Now there is an option of getting a house help or maid but with increasing number of reported cases of house helps maltreating, abusing, or even selling babies left in their custody (child trafficking is a big time illegal trade); mothers are left with no other choice than to take their kids to childcare centers.
If you think you are up to the challenge, then you can take a leap into this business and reap tremendous reward. However, it is important that “caring for children” should be your passion and don’t forget to hire seasoned nannies and babysitters.
Just as in other African countries, there is a growing need for quality education in Kenya. Ghana has taken the lead in West Africa and now has some of the best universities in the continent.
However, I must emphasize the fact that you mustn’t invest in setting up a university before reaping the dividends of the sector (as setting up a high institution is quite capital intensive); you can start by opening a crèche, primary or secondary school. Your school does not have to be gigantic in size, you just need to have a high quality standard and you will breakeven.