Top 10 Businesses That Will Make You Money in Kenya in 2024

There is no denying that for 90% of new businesses in Kenya, the sole objective of starting a business is to make money.

But, what if you started a business for these other reasons?

1. Growth, stability, efficiency, and survival—wouldn’t you still make money doing it?

And,

What if you are just starting to create customers, to innovate products, for optimum utilization of resources, to supply quality products at a fair price, or just to protect the environment? Don’t you think you can still work your way around making money?

In today’s post, we discuss some of the best small businesses you can start in Kenya in 2024 to make money.

And that’s regardless of your main objective for starting your business.

Top 10 Businesses That Will Make Money in Kenya.

1. Online trading
2. Tours and travel business
3. Real estate business
4. Agricultural businesses
5. Consultancy business
6. Mini-mall business
7. Mobile carwash business
8. Insurance brokerage business
9. Information technology business
10. Creatives business.

1. Online Trading.

In 2021 you still want to stay home and stay safe.

And that’s, of course, if the COVID-19 situation is anything to go by.

But if you stayed home for fear of contracting the virus, how would you survive?

The answer is simple. Become an online trader.

As a trader, you will be forecasting the price of different assets, including currency pairs, stocks, indices, commodities… etc.

And if your prediction is correct for a set duration of time, say 1 minute, you earn up to 92% of your investment.

Is there someone else doing online trading in Kenya?

Of course yes, I am one of them.

On average, I earn $1,000 a day trading online.

And which platform do I use to trade?

The Olymp Trade broker platform of course.

Check out my YouTube channel here for proof of earnings and to learn how to trade.

Believe it or not, this is the number one business that will make you money in Kenya in 2023. And, you can do it anywhere, at any time, on any device.

If anything, you’ll only need to deposit $10 to start trading on a real account.

2. Tours and travel business

Did you know that with only a registered business name, a physical location, and an online presence, you could own a tour and travel business in 2024?

Of course, that’s all you need to start a tour and travel business in Kenya.

You will spend an average of KES. 2,000 on business name searches and registration. An average of 20,000 on office space (plus deposit) and an average of Ksh. 10,000 on a business website.

Of course, if you do it yourself,.

Assuming you already have the furniture to use in that space, then that’s just it.

The secret to making money with tours and travel business in 2024 is to guarantee your visitors’ safety, safety, and more safety.

Can you hack that?

Then you are on your way to becoming a millionaire tour and travel agent in Kenya in 2024.

 3. Real estate business 

Since 2007, the real estate business in Kenya has woken.

At least each of the 47 counties in Kenya has felt the impact, either in the growth of residential real estate, industrial real estate, commercial real estate, or buying and selling vacant land.

And you would agree with me that thousands of Kenyans are still excited about owning property.

If you can start a real estate agency in Kenya in 2024, define your audience, and get that group walking to your doors every other week, then you will make money as a real estate agent in Kenya in 2024.

And setting up is no rocket science either.

Just register your agency name, create a website for your business, open a business account for your business, find a property to list and you are in business.

It’s that simple.

Do you want guaranteed income in the real estate business?

Manage residential, industrial, and other commercial estates.

4. Agricultural businesses

There is no denying that agriculture still has good money and it is one of the easiest ventures to start in 2024.

Do you have a plot of land that you can use to start your agribusiness in 2024?

Don’t worry.

Whichever business you want to start in the agricultural sector in 2024. Be it mixed farming, arable farming, or commercial farming; you can start it with ease without having to buy the land first.

For as little as Ksh. 15,000 lease agricultural land for 3 harvesting periods and begin your preferred venture.

Also, make sure you do your due diligence. Find out if the product you want to bring to the market is easy to sell, to whom, when, and how you can improve it to survive longer.

Preservation measures will help ensure that your product survives to see the market another day.

5. Consultancy business

What did you study at the university?

Is there enough demand for it?

Why not start a consultancy business to make money doing what you know?

You will only need to register the business, find a location, and you are in business.

But that’s just the easy part. The hard part is finding clients for your business.

Where did you take your industrial attachment?

Did the business have an internal consultant for the subject matter you are offering? If not, pitch them to become their external consultant.

Other ways to win clients for your consulting business in Kenya.

1. Having a perfect portfolio could be the landing page on your website.
2. Ask clients you have worked for to give referrals.
3. Clean up your social media accounts
4. Optimize your LinkedIn profile to fit what clients are looking for.
5. List your services on job listing sites

6. Start a Mini Mall (Container Mall ) Business 

I’m sure you have seen all these container marketplaces coming up everywhere in the country.

Have you ever stopped to ask how much the owners of those businesses make per month?

Depending on the size of the container mall, one such business can make up to Ksh. 10,000,000 per month.

It all comes down to numbers.

How many units does that business have? And what’s the rent for a single room? You do the math.

As someone who needs a business that makes money fast in 2024, you could opt to join the mini-mall race.

Use that prime land that you have in Kakamega, Kisumu, Migori, Homabay, Kericho, Nakuru, Nairobi, Mombasa, Kitale—you name it—to create a container business.

Attract small businesses to your promise and you will soon start to make consistent income with your business.

7. Mobile carwash business

Everyone is competing to have their business generate more income regularly.

What are you doing to make more money with your business? Tell us in the comment section.

For carwash business owners, besides that physical location, you can make more money with your business by introducing the mobile carwash model to your business.

Talk to apartment agents in the region where you operate and with their permission, start offering door-to-door carwash services.

I guarantee you will make more money doing this on weekends than you would make waiting for business at your physical location.

If it helps, buy more machines to begin operating simultaneously around the entire neighborhood.

Doing this ensures more returns and reduces competition.

8. Insurance brokerage business

It is no secret that there is a lot of money to be earned with insurance companies.

But really?

How easy is it to start an insurance brokerage firm in Kenya?

And, can you get rich running an insurance brokerage company in Kenya in 2024?

Yes, it is easy to start an insurance business in Kenya. Just like in any other business, there are procedures and requirements to follow.

Find the full list of requirements for opening an insurance brokerage firm here.

And yes, you can get rich doing your insurance brokerage business in Kenya in 2024. Here’s an example of a stable insurance brokerage firm in Kisumu, Kenya.

9. Information technology business 

There are a lot of things you can do to make money as an IT expert in Kenya.

You can decide to have your business built around communications networks, safeguarding data and information, helping clients troubleshoot problems with their computers or mobile devices, creating and administering databases, or doing a range of other work to ensure the efficiency and security of the business you choose to work with.

Whichever side you choose to lean on, give it your best and you will begin making money with your IT business in 2024.

10. Creatives business.

Go to any social media platform now and you will notice thousands of new artists doing their gigs online.

Especially in the comedy industry.

Now, stop and ask yourself, how much are these people making and for doing what?

And who is paying them to ensure they keep churning out content as they do?

The answers are unbelievable.

These artists make hundreds of thousands, and sometimes millions of shillings doing those 1-minute skits.

While some of them get paid for brand endorsements, others earn rev-share on the products they promote and others earn for placing ads on their content.

The list of ways to make money as a content creator in Kenya is endless.

If you don’t want to be on the screens you can become a graphics designer for these people, become a makeup artist, a voice-over artist, a video editor or a scriptwriter.

There really is no end to what you can do as a creative in the Kenyan creatives industry. And the pay, marvelous.

Wrapping up on Top 10 Businesses That Will Make Money in Kenya

These are just some of the businesses that will make you money in Kenya in 2024.

If you ask me, the list is very expansive. So expansive that if we wrote everything on this post you would read your eyes sore and not come to the end of it.

Is there any small business idea that you want to know more about?

Let’s discuss more in the comments section.