How To Invest 300k In Kenya
There is no limit to the amount of money you can spend on starting a business. The little you have will, with time, multiply into something you can be proud of. Provided you have strategies for ensuring that your investment results in substantial profits, nothing is impossible.
However, failure to determine the best course of action to become the best performer in your niche will lead to massive losses. With Ksh 300,000, there are a couple of business ideas you can consider. Below are a few of these businesses to set you on the right track:
1. Hair salon
Most Kenyan ladies have kinky hair, meaning they often need a professional’s help to clean and style it. As a result, the hair salon business can bring massive benefits, depending on the quality of your services and whether or not your financial decisions are wise or not.
In addition to renting or leasing a space for your salon, you’ll have to buy hair extensions, blow dryers, combs, furniture, towels, and different hair products.
2. Laundry business
This business will help bridge the gap where people are too busy to do their laundry. With Ksh 300,000, you can buy detergents, basins, and iron boxes and hire one or two people to help, especially if you prefer to do the laundry by hand.
You can also opt to buy a washing machine, which will save time and reduce the cost of hiring other people to clean the clothes. Ensure to satisfy your clients so that they can continuously pay for your high-quality services.
3. Eatery
Kenyans, especially those who live in cities, are ever in a hurry to move from one activity to the next. As such, most of them may not have time to prepare home-cooked meals.
When deciding the meals to include in your menu, consider the likes of most of your potential customers, as some prefer healthy meals, while others go for fast foods such as fries. Your costs may be divided into renting out a small space, buying furniture, and utensils, and hiring someone to help with cooking or cleaning the dishes.
4. Car wash business
Nobody wants to drive around in a dirty car. For this reason, a car wash will generate high profits, provided you devote your efforts to offering the best cleaning services.
You’ll have to invest in vacuum cleaners (approximately Ksh 30,000 each), a Water tank (approximately Ksh 45,000), buckets, brushes, and detergents, which will all go at approximately Ksh 5,000. Also, you will have to hire a few people to increase the number of vehicles cleaned at once.
5. Selling clothes
Choose whether you want to concentrate on men’s or women’s clothes. After doing this, think about where you will source the clothes from, considering factors like uniqueness and cost.
If you decide to source internationally, be ready to pay shipping and customs fees. Ensure to market your clothes extensively through social media platforms, word of mouth, and even by offering the best to your customer so that they can refer their friends and family members.
6. Farming
Eating is an everyday affair, so you can be sure that the farming business will bear results unless the weather or economic conditions change. You can lease a piece of land for a few months or years, as Ksh 300,000 may not be enough to buy land.
Decide on what you want to grow on your leased property, and research how to increase your yields. If need be, seek expert advice on being an excellent farmer.