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Untapped Business Ideas in Kenya
Every day a large number of Kenyans look for ways to invest their money wisely and secure their futures. However, finding the right business to venture into can be a tricky process.
Although there is so much information out there, finding accurate information that is right for you may not be so straight forward. Furthermore, many profitable fields are saturated and the barrier for entry is very high. As a result, many Kenyans end up failing to invest or losing their investments.
If you are looking for ways to potentially secure your financial future, you may find the information here very useful. This article discusses 3 untapped business ideas in Kenya.
Note: The ideas discussed in this article require a medium to high capital investment. If you are looking for something that doesn’t require much capital, check out these 40 business ideas you can start with a budget of just 1k – 20k.
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Related: How to get a free website, domain, hosting and business emails
Small and Unique Businesses to Start in Kenya
1. Invest in Crowd Funded Real Estate Projects
Crowdfunding is a method that businesses use to raise money. Ideally, many people invest small sums of money, collectively raising a large amount in a relatively short amount of time.
Therefore, real estate crowdfunding is an alternative way of investing in real estate projects whereby small amounts of money are pooled from many people to finance a property. Investors can either get equity or interest paid at a specific rate.
This method of investing makes it easier for ordinary people participate and make money from large-scale projects with little capital. There are several platforms that offer such services, including Fundrise, Rich Uncles and Realty Africa.
2. Airbnb Rental Arbitrage
Arbitrage is the practice of buying something and then reselling it more expensively. In Airbnb rental arbitrage, you simply rent a house, furnish it and then sublease it on Airbnb (an online marketplace for people who want to rent out their homes to short-term guests). You can either sublease the entire house or each room individually.
If well managed, rental arbitrage can be much more profitable than the traditional rental practices, and a lot less expensive to start.
3. Office Sharing
The internet has helped facilitate business growth across nearly every sector. Every year start-ups and small businesses emerge in droves, whereas many others expand their operations to different locations. Offices are fundamental for growing business, but the problem is that they’re often too expensive.
Office sharing is the concept of renting or sharing unused office spaces, workstations or units to individuals/companies seeking a workspace. It enables entrepreneurs to lease offices at more affordable rates.
Shared workspaces can be made more appealing by adding useful office amenities such as printers, photocopiers, fast Wi-Fi, and so on. Furthermore, the space can be made more pleasing with some nice furniture and decorative work.
Other utilities such as an air conditioner and coffee machine improve the general user experience. More advanced workspaces even have a kitchen and/or secluded areas where users can work privately.
You can execute this business concept by renting a large office space, dividing it into smaller work stations, and then subleasing each station individually. This makes it affordable to more people while giving you a stable income from rent.
You could also charge extra for services such as Wi-Fi, printing, photocopying, etc., if they are not included in the package.
Conclusion
Every business venture has its risks. Great deeds are usually accompanied by big risks. However, those risks can be reduced by carrying out adequate research before fully investing in the business. For example, a factor such as your location is very important for the rental arbitrage and office sharing business concepts.
The business ideas discussed here are not guaranteed to work. On the other hand, you may achieve life-changing success by implementing one or more of these ideas.
The point is you never know what the future holds. Don’t let the fear of failure deter you from your journey to success.