Can you start a small successful business with 10K?
Of course, you can! And nothing should hold you back in 2024.
Not capital. Not lack of business ideas. And certainly not lack of the best counsel there is for budding businesses.
And the gravy to this list is, these businesses have worked for other entrepreneurs in 2024. Taken the shortest time to break even. And are all profitable.
Starting a business with 10K in 2024 | Which businesses should you go for?
1. Flip Websites.
Website flipping is the process of developing (or having someone develop for you) or even buying low-cost websites that have room for improvement; growing them to their optimal revenue generation points and then selling them at a higher price to make profits.
Simply put, it works like real estate.
You make money either way – for a buy or a sell.
To prove that website flipping works, I started this blog on December 7, 2018. Worked on it for 5 months – growing my traffic and revenue each month.
By the end of the fifth month, I checked its potential price on an online website value calculator.
And guess what I found out.
In five months only Joon was worth Ksh. 300,000.
Not to mention that it was already earning me Ksh. 50,000 monthly.
My point is, if I had sold it then I’d have made Ksh. 300,000 lump sum profits.
Fast forward to today, Joon is worth Ksh. 4 million with its monthly revenue projected to grow to $10,000 plus beginning January 2022.
If you are interested in starting a similar business, talk to us at +254 708 655 398
Interested in this venture?
2. Trade Forex in XM.
While XM Trading is not a business per se, it is Forex and Forex is a great way to make money online.
The XM platform is user-friendly, requires the least amount to trade ($5), and is extremely convenient for deposits and withdrawals.
For this kind of business the best startup capital would be $100 but if you have more, go ahead – invest, trade, and earn.
3. Start a Juice Business.
I have written a full post in the past tackling this topic. Find time to read it on this link – How to start a juice business.
In a nutshell, under 10K would be enough to start a juice bar business anywhere in the world.
That’s if you already have a cool fridge, a juice dispenser, juicers (both multi-functional and citrus), fruit and vegetable peeler, and/or a commercial blender.
To maximize your profits, sell: – cold-pressed juice, sugarcane juice, and all other fresh juices in your business.
Important equipment to have for your fresh juice business.
- Multinational Juicer for Juice Bar Business in Kenya.
- Best Juice Peeler for a Juice Bar Business in Kenya.
- Best Commercial Blender for a Juice Bar Business in Kenya.
- Manual citrus juicer.
- Stylish juice dispenser for a juice bar business in Kenya.
4. Start a Barbershop Near You.
Contrary to what many entrepreneurs believe, starting a barbershop business does not cost much.
You could start a small barbershop business with as little as Ksh. 10K and grow it to become bigger and better than all-star barbershops in the UK.
It only takes excellent customer service, quality services, and fair prices to make consistent profits and retain customers.
Interestingly, you only need a shaving machine, a barber seat, mirrors, rent money, and aftershave products to get into this kind of business.
How much does it cost to start a barbershop business in Kenya?
This will cost Ksh. 10K or less if you want to start the business in rural areas and up to Ksh. 2M for executive barbershops in urban areas.
5. Sell Cosmetics.
Did you know that the cosmetics business is the easiest to start an online business in Kenya?
You might not even need to coin if your plan is designed for dropshipping.
But for the sake of solving cash flow issues and just being able to fulfill all orders, you should put 10K aside for your business.
This will help you take care of all emergencies that may arise in the business – including refunds.
Here are examples of online cosmetic businesses in Kenya.
- Kenia Ontiveros Cosmetics.
- Tara Naturals Kenya.
- Nia Cosmetics.
- Dawn Cosmetics.
- True Cosmetics Kenya.
- Huddah Cosmetics Kenya.
- Sterling Cosmetics Kenya.
- Western Cosmetics Kenya.
- Cosmetics Kenya Ltd.
- Mac Cosmetics Kenya.
- Darling Cosmetics Kenya.
- Pauline Cosmetics Kenya.
- Sleek Cosmetics Kenya.
- Kyle Cosmetics Kenya.
- Revlon Cosmetics Kenya.
If you are interested in starting online cosmetic businesses with websites like the ones shown above, don’t hesitate to get in touch at +254 708 655 398.
We will build your online cosmetic store for $100 only.
6. Start Selling Handbags.
The handbag business is one of the most profitable in Kenya.
You only need to know where to source your products cheaply and sell for profit in the country.
Most handbag sellers buy their merchandise from Kampala but if you don’t have enough money to get them in bulk, you can still create a social media account or get a website and sell online on a drop shipping basis.
7. Event Planning Business.
How many events did you attend in 2023?
3, 7, 10?
How many events do you think your friends attended?
10, 20, 25?
And my guess is, you did not like the event and even wished you planned it. Maybe you would have done it better.
So why not start your events and planning business to change what you did not like in those past events?
If you already have a computer then perhaps the only cash you’d need is marketing money and office supplies which would cost a little over 10K.
8. Start a Professional Cleaning Service Business in 2024
By 2005 Kenya had 1M plus small businesses. Today the figure could have quadrupled.
Do you know what that means?
There are lots of opportunities that can depend directly on these small businesses.
Yours could just be one of them if you wish to start a cleaning service business in 2024
Interestingly, you will only need cleaning supplies and a vacuum cleaner for starters.
You could be the first employee of your professional cleaning service company and maybe employ more people after you have acquired enough clients.
Do not forget that your business will need to be registered and you’ll also be required to get a business KRA pin and an ETR machine to be awarded corporate tenders.
9. Start Selling Curtains and Throw Pillows in 2024
Everyone wants their house to look good, classy, and sassy.
A nice way to show the sass and class with very little money is by using bright throw pillows, seat covers, and curtains. Not to overdo though.
And people love these colored things.
So why not start your business around curtains, and carpets, and throw pillows and earn profits while making other people’s houses look good?
For the throw pillows business, you can buy fabrics of different colors, make a few, market on social networks, and sell for profits.
You can also do customized merchandise and produce on order.
10. Start a Store for Secondhand Electronics.
While this business is very popular in Nairobi, it hasn’t taken root in the other parts of the country.
In 2020 you can identify counties with fewer second-hand electronic businesses and start yours to get a market share.
You can start by flipping a few old electronics in your house or from your friends and grow with the business as it grows.