Lucrative Businesses Young Kenyans Overlook

  • The prevalent economic situation in Kenya has forced alot of young Kenyans to innovate new ways of earning an income. However, most tend to shy away from blue-collar business opportunities as opposed to white-collar business opportunities and employment which is seen as more prestigious.

    Moreover, an excess of 800,000 graduate job seekers joins the saturated job market every year. Due to tougher economic times, the rate of absorption has remained drastically disproportional to the number of fresh graduates.

    Facing this stark reality, Kenyans have been forced to think on their feet and come up with businesses they can set up with a minimum capital requirement that can earn them a pretty penny, allowing them to support themselves and their families.

    UoN graduates during a graduation ceremony at the institution in July 2019.
    UoN graduates during a graduation ceremony at the institution in July 2019.

    Here at kenyagist.com, we have consulted business owners of overlooked business opportunities and experts alike to curate a list of ventures worth pursuing.

    They are as follows:

    1.Carpentry

    kenyagist.com spoke to a carpenter based in Ruaka, Kiambu County, he narrated that the startup costs of a carpentry shop top at Ksh 100,000 including setting up of a domain, rent of space for 3 months as well as equipment. Outsourcing and payment of employees are agreed on depending on various factors, the most important being skills honed.

    On average, 3 clients contribute in a week contribute to a profit of Ksh 30,000 excluding operational expenses.

    2.Smokie business

    The start-up costs for these small ventures will set you back Ksh5,500. A vending cart goes for between Ksh 5000 and Kshs 6,500. Core ingredients which include onions, tomatoes, dhania, green perper and tomato sauces cost Ksh 200 in total. 

    The most important aspect, the smokies, cost Ksh300 per packet. The packet contains 22 pieces which are sold for between Ksh 25 and Kshs 30. Revenue generated is therefore between Ksh 550 – Ksh 660. Profits are therefore about Ksh200 per packet. If 3 packets are sold in a day, one could rake in about Ksh 600 as profit daily.

    When choosing a selling point one should consider areas with significant human traffic such as bus stops, peripheries of learning institutions and entertainment hubs.

    3. Mechanic

    This trade is almost wholly skill-based. A mechanic is required to diagnose, repair and perform maintenance on automobiles. Avenues of compensation include tips, bonuses, and overtime pay. According to a seasoned mechanic who spoke to kenyagist.com, revenues earned from owners of vehicles requiring bodywork and mechanic maintenance can easily exceed Ksh 50,000 per week.

    4.YouTube

    In the recent past, young Kenyans have taken up online employment through blogging, writing, data entry jobs and entertainment. YouTube has a monetization program that allows content creators to earn from their views on the platform.

    To access the monetization scheme, content creators ought to enable monetization and copyright requirements. To begin earning money from the website, users require a minimum watch time of 4000 hours and at least 1000 subscribers.

    In addition to that, requirements include a Gmail account, a personal computer and a camera. A good quality camera from Ksh 10000- 25000. A good smartphone would set one back Ksh. 15,000 – Ksh. 20,000 while a lapel mic costs Ksh1800.

    With these tools and good content, YouTube is as lucrative as it gets.

    Comedian Alex Mathenge receiving an accolade from YouTube
    Comedian Alex Mathenge receiving an accolade from YouTube
    File
  • Source: KENYAGIST.COM