In today’s world, it’s easier to make money without educational or professional knowledge. Technology has opened us up to endless opportunities including many great business ideas that can make millions. While there are no guarantees in life, a business is one of the best ways that you can become a millionaire. Most of the billionaires in the world are business owners and their journey started with a good business idea. There are also new millionaires cropping up every day which may inspire you to launch a business and become your own boss. With tons of resources out there, there is no reason why you shouldn’t dip your toes in the world of entrepreneurship.
Here are some great business ideas to get you started.
Greenhouse Farming
Greenhouse farming can be a lucrative business venture that can make millions annually. Agriculture is one of the biggest economic activities in Kenya presenting an opportunity to make good money. However, you need to be passionate about agriculture and do adequate research before venturing into greenhouse farming. To make the most of it, it’s best to capitalize on plants that are in high demand but limited supply. You should also figure out an ideal greenhouse setup. Typically, investing Ksh 120,00 in a greenhouse business can make up to Ksh 1.2 million annually.
Airbnb Hosting
This type of business model isn’t new but it gained popularity in the past few years which has grown its profitability significantly. According to statistics, there are roughly 4 million Airbnb hosts around the world and the Airbnb market is estimated to be worth $17 billion. Many Airbnb hosts have expressed how the business has made them millions which explains why more people are now willing to invest a lot of money in establishing an Airbnb. Whether you’re thinking of renting out your private home or setting up an Airbnb property, understanding the Airbnb business model can help you run a more profitable business. It’s necessary to make your Airbnb stand out from the crowd so you can receive good reviews and increase the number of customers.
Pet Grooming Services
If you’re a pet owner, you know how hard grooming them can be. However, everyone wants their pet to look and feel good which is why professional pet grooming is big business. The pet grooming business is growing at a fast rate in the country targeting middle-income and high-income earners who are pet owners. You can set up this business without any training or experience. All you need is access to YouTube tutorials and a little practice. You’ll be a pro in no time and on your way to making millions. However, it’s important that you love pets.
Drone Videographer
The drone business has a lot of potential and is estimated to be worth $63.6 billion by 2025. With a drone license, you can offer your services to several industries including events, agriculture, medical, and government. Since the market is still fresh, this business opportunity is just waiting to be explored and exploited. The first step to being a drone videographer is enrolling in a training program and getting a license. After that, you can set up your business and look for opportunities.
Drop Shipping
You’ve probably heard about drop shipping but didn’t pay much attention to it. Well, you should be interested in this business venture especially if you want to capitalize on profits. You don’t need a lot of startup capital and the risks are lower than other businesses since you don’t need to stock up on inventory. Nonetheless, you need to invest a lot of time and effort in the initial stages to ensure that you move in the right direction. Pick a niche product, find a supplier, set up an e-commerce store, create a marketing plan, and start selling. The startup capital can range from Ksh 5,000 to Ksh 100,000 depending on the product.
Event Planner
As an event planner, your work is to help individuals and/or corporations in planning and executing events such as weddings, birthdays, bridal showers, conferences and corporate galas. Sounds fun, right? Wrong. It’s a lot of work and it requires a lot of preparation before you can even set up the business. To set up an event planning business, you need prior experience, raise capital, build a business plan, and get all the business licenses. However, the rewards make up for all the hard work. Event planners can make around Ksh 2 million a year.
Ghost Writer
Ghostwriting is when someone hires a writer to write a book or other content that someone else will be credited for. Depending on the work, you can make good money from ghostwriting. For instance, you can make Ksh 1 million to Ksh 5 million per book depending on your level of experience. For writers who don’t have a lot of experience writing books, you can earn around Ksh 100,000 to Ksh 1,000,000 per book. Some also offer a percentage of the royalties. Therefore, if you’re a talented writer, you should consider venturing into ghostwriting.
Fitness Training
Health is a priority in today’s society. If you’re a fitness guru, establishing a gym in your neighborhood can fetch good returns. If you don’t have the capital to start a gym, you can offer personal training services which are equally lucrative.
Home Cleaning Services
Professional cleaning service is a thriving business since people are willing to spend whatever it takes to make sure that their home or workspace is spotless. The best part is you don’t really have to invest a lot of capital to start the business. With Ksh 5,000, you can set up a small-scale home cleaning business and grow with time.
Baking
The baking business is booming. There’s a high demand for pastries for events or individual needs. Therefore, if you’re passionate about baking, this is your opportunity to make money from your passion. However, this market is heavily saturated and you need to go the extra mile to stand out. Do your research and see how you can have to best baking business in town.