Starting a great business is a good entrepreneurial activity that many get successful on it and many too fail in it. There are entrepreneurs who start a business with large sums of capital but the business still goes to a down still, yet there are those individuals who understand what their customers’ needs are and prosper with their business ideas despite starting a business with a low capital.
Apart from business ideas, there are some situations where you just graduated but you haven’t gotten a job yet. What next? Sit and idol around? Bill Gates and Mark Zuckerburg didn’t graduate from the university but are still among top 10 world billionaires.
What am trying to say here is that, have anything that can be termed as an ‘idea’, after graduation don’t have the minds of white color jobs only. Even if you have never gone to a tertiary institution have these ideas and make money out of them. You can also read how to set up a successful business and get the tips of setting one in your area and the nearest local marketplace.
After I did a three month comprehensive research on businesses that requires low financing to set up, I came up with a list that can be helpful to you while choosing your next big business idea. Check out these business ideas;
Selling of fresh groceries
Many graduates may find this idea awkward but when you are used to it and start earning a four to five figure salary you will know and realize the importance.
Selling of fresh groceries includes selling:
- Fresh carrots
- Fresh kales
- Red and green peppers
- Mangoes and avocados.
These are all you need to set your grocery store running, I can also advise you to stock the store in accordance with the demands of your customers.
Like in a country like Kenya, most of these products can be directly harvested from your own farm and this can be a great profit making business. But in countries like the USA where not everyone owns a land, you have to look for suppliers to supply you every day with fresh groceries.
By the way, did I mention that most people nowadays are vegetarians? A lot of people are avoiding fats and cholesterol from meat products thus a grocery store is an ideal business idea. This venture can cost you Ksh 5000 ($50) in Kenya, isn’t that cheap?
This can bring you an estimated profit Ksh 1000 – 2000 per single day.
Opening an M-pesa / Tigo cash/ MTN money transfer shop
Due to the rising number of customers to the East Africa’s giant telecommunication company Safaricom there is a great potential of having a great investment here. The company is boasting over 19 million subscribers and there is a need for more M-pesa shops.
Approximately 40% of these customers transact using M-pesa on a daily basis and that’s the reason for a need for more M-pesa shops to cater for this large number of population.
To set up an M-pesa shop you will need Ksh 50,000 ($500) as starting capital and a small phone plus a registered M-pesa agent number and line. You can have Ksh 20,000 as cash for withdrawals and the remaining Ksh 30,000 as float for deposits. Well, this can rake in a commission of Ksh 10,000 – 20,000 per month or more depending on the customers you serve.
You can as well become an agent for various local banks and like KCB, Equity, Co-operative bank agent add more bank services to your M-pesa shop.
Of all the business ideas here, this is the business with the lowest startup capital. The cold season is here and people in different locations want something to keep them warm, not a warm soda but hot coffee.
Unlike McDonalds where customers go searching for the shop for coffee, you will be the one searching for customers to sell them your coffee.
Selling coffee requires a big flask to keep the coffee hot, sugar, water and coffee and you will be done.
You can acquire a large flask from as little as Ksh 1500 ($15), a kilo sugar at Ksh 100 ($1), a sachet of coffee at Ksh 50 ($0.5) and water is free, and you will be good to go. You will be earning over Ksh 500 per day from here.
Everybody wants to be neatly groomed, have stylish hair styles at their own expenses. A lot of people prefer shaving but we also have those who prefer dreadlocks and long hair but done in salons. I know this profession has a lot of work but be committed and sure you will have a steady and stable profit.
The services that you should provide to clients may include;
- Hair shaving
- Selling wigs
- Selling weaves
- Selling make-up products
- Hair foods
- Hair treatment
This will be a business in another business; female clients can buy weaves and other hair products to get them done in theirs.
Salon business might be a little bit expensive to start but it has much higher profits. A single head shave can cost Ksh 200, while making a lady’s head can cost Ksh 700 to 10,000 depending on the hairstyle.
I could not afford to leave this idea out. It’s muddy right? Most people want to use a clean and presentable car. All you need to start this business is to buy a water pressure machine, a tank and soap.
Car washing needs a lot of hard work and patience since you will be spending most of your time in water.
The sizes of the cars you are washing determines the money you will be paid. A saloon car can go for Ksh 200, a SUV for Ksh 300, a PSV Nissan for Ksh 350, a lorry for 450 and a bus for Ksh 500. Calculate if you wash same types of cars thrice a day? That will be a lot of gains for you.
In conclusion, choose the best idea you might think is best for you. KFC’s founder Colonel Harland Sanders found a secret chicken recipe that brought his chicken selling business into a fortune and making him an icon after the recipe was rejected 1009 times without losing hope. Also Jeff Bezos believed in his Amazon business idea and this made him the richest man on earth after so many failed business attempts. Never give, always have passion in what you are doing.