Can you start a small successful business with 10K?
Of course you can! And nothing should hold you back in 2020.
Not capital. Not lack of business ideas. And certainly not lack of the best counsel there is for budding businesses.
In today’s post of Joon Business Ideas for 2020 we discuss the best small businesses that you can start in Kenya in 2020 with 10K only.
And the gravy to this list is, these businesses have work for other entrepreneurs in 2019. Taken the shortest time to break even. And are all profitable.
Starting a business with 10K in 2020 | Which businesses should you go for?
1. Flip Websites
In one of our posts in 2019 about smart businesses that you can start in Kenya to become rich quick we highlighted website flipping.
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 then selling at a higher price to make profits.
Simply put, it works like real estate. You make money either way – for a buy or for a sell.
To prove that website flipping really works, I started this blog 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 it’s 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. 1.3 million with its monthly revenue projected to grow to $2,000 plus beginning January 2020.
If you are interested in starting a similar business, talk to us on +254 708 655 398
Other websites which I have developed and looking forward to growing in 2020 include: –
- ryanstam.com (still under construction)
- Kit Business
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 in 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
- Multifunctional 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.
In fact, you could start a small barbershop business with as little as Ksh. 10K and grow it to become bigger and better than the all stars barbershops of UK.
It only takes excellent customer service, quality services and fair prices to make consistent profits and to 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 obviously 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 cosmetics business is the easiest to start online business in Kenya?
In fact, you might not even need to coin if your plan is designed for drop shipping.
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 refund.
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 on +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 profits 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 2019?
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 2020
By 2005 Kenya had 1M plus small businesses. Today the figure could have quadrupled.
Do you know what that means?
There are lots of of opportunity 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 2020.
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 2020
Everyone want their house to look good, classy and sassy.
A nice ways 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, 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 merchandises and produce on order.
10. Start a Store for Second Hand Electronics
While this business is very popular in Nairobi, it hasn’t taken root on 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.