There are plenty of business ideas in Kenya. You just need to know what you want and then make a choice. Choosing a business idea is a very difficult and yet important step.
Many individuals are unsuccessful in their business today because of the wrong choice they made when choosing a business idea.
The right choice of a business idea is the key to achieving your business goals. Quite often a business idea requires extensive research in order for you to come up with a viable idea for you and the whole community.
How to get Business Ideas in Kenya
Use the Skills that you already have
The skills you have are the very first place of getting a business idea. For example, if you are a plumber, why not start with yourself having that kind of business? If you are a carpenter why not start your own workshop and showroom?
The skill you possess is the only treasure that you can use to get business ideas in Kenya. Oftenly Most successful entrepreneurs resigned from their formal jobs to set up their own business.
2. Change your Hobby to Money
A Hobby is one of the things that fond of doing in your own free time. If for example, you love dogs, why not start a dog breeding business? Moreso. if you love cooking and you are good at it, why not set up a catering business.
3. Buy an existing business
If you are unable to find a good business idea you can buy someone else’s business and invest in it. Nowadays, there are plenty of businesses for sale for a variety of reasons so you can buy it and carry on.
Some of the businesses you can purchase include:
- A salon/barbershop.
- A shop
- Wines and Spirits.
- A bar.
4. Purchase a Franchise
This is one of the most widely used forms of getting a business idea. You can buy a popular brand and work it out.
Take a look at Safaricom dealers and customer care centers. They are all franchised. Another example of franchised businesses includes KFC and Steers.
Although there are often terms and conditions which are not limited to making sure you provide the same service as the Brand itself.
Business franchising is very popular in the hotel and property industries, supermarkets and other markets.
5. Use your own personality.
If you deem yourself naturally handsome or beautiful. You can use that beauty and aesthetic to do business, either for marketing or brand promotion.
Take a look at Vera Sidika and Hudah Moroe. They all use their personalities to promote their business.
6. Look for what is missing in your location?
Take a look at your surrounding environment and see what’s out there on the street and then turn it into a business opportunity.
It may not be on the street but try looking for it at your place of work, your remote location or the places you go to for leisure.
To find out what is missing in your locale, ask yourself the following questions
- What is frustrates you the most that you to spend a lot of money and time to get it.
- What important services are lacking completely in your current location?
- Which products are difficult to find in your are.
- And lastly, what is it that you, your neighbors and the whole community complain most about in your area?
7. Use Technology to start your own business
Take a look at the current lifestyle, the things that are currently being used and used by most people. The current lifestyle can lead you to come up with a business idea.
8. Bridge the gap with big companies and industries
You can use the presence of specific companies or institutions in your area to create a business idea. Institutions such as Hospitals, Colleges, and Schools. Business startups and so on, see what these people may be in need of.
For example in schools, you can come up with a time attendance system. In Hospitals, you can come up with a queue management system for ease of flow and service delivery.
9. Start selling other peoples products
These work best online as in the case of affiliate marketing where you promote the brand and sell products via providing the necessary traffic.
10. Use and means and methods available at your disposal to research.
You can use any one of the following resources ar your disposal.
- On Social media
- Via the print media
- From friends
- Business trade fairs and exhibitions
Factors to Consider before Choosing Business Ideas in Kenya
If you want to start a business, then I am going to share with you 5 things to consider before choosing a business idea.
Choose a Business Idea that you love
Do what you love and money will follow you. One of the basic principles of being successful in what you do is by loving what you do.
When you choose an idea you like, it is clear that you will do it wholeheartedly and effectively even when you encounter challenges.
Therefore, do not just choose an idea for some reason or choose another person’s idea, it may turn out to be difficult and costly to implement.
Choose an Idea that you truly understand and can manage
Most individuals make the mistake of choosing a business idea that they do not really understand or afford. This is due to imitation, lack of creativity or even a desire for money.
Remember that in order for the idea to succeed, it must be practiced by someone who knows it well and can afford it.
For example, starting a hotel business while not having any knowledge of hotel management is clear that you will not succeed.
Focus on the issue of Finances
Every business needs money to run. So make sure the business idea you choose will be able to make enough money to implement it.
Know the idea well before you decide to implement it. Know all the costs involved in implementing it and the benefits that will be achieved. This way you will be able to make better decisions whether the idea is right or not.
Consider the law of Supply and Demand
Most individuals are unaware of the importance of looking at market demand before choosing a business idea.
When you look at the market demand, it is clear that you will choose the business idea that will sell it.
Don’t just choose an idea because it’s an idea or others are doing it, but make sure your idea is needed in the market at the right time.
Competition is an important factor that anyone choosing a business idea should consider, since success in business depends on the level of competition and how you will deal with it.
Just make sure you are well aware of the competition in the relevant business idea and can manage to keep up.
There is no need to choose an idea that you compete with companies that spread across the world when you are just a startup entrepreneur.
As I have mentioned before, the choice of your idea requires a lot of patience and concentration. It is important to make sure that the idea you choose is well-cared for and can give you a definite advantage in the area you are targeting.
Do not choose an idea because someone has chosen it or others give it an advantage, but choose what suits you and your environment.