Many people in Kenya are looking for businesses that will never fail and they can make profit from them. However, the reality is that every firm has the potential to collapse. This article addreses 15 Profitable Businesses in Kenya That Will Never Fail.
Every company has unique strengths and weaknesses. How well you run your company will determine its success in any industry. Here is a thorough list of businesses in Kenya with a low failure rate in case you’re hunting for ventures that will never fail.
Profitable Businesses in Kenya
With our current economic situation in Kenya, many business ideas and overall businesses have failed, thus resulting in many people losing their jobs. Even in other developed countries, there hasn’t been a business that has stayed untouched.
However, some jobs can never go out of business and demand despite many market crashes. For that reason, many people have reverted to creating their business ideas and opening their jobs. Here are the 15 Profitable Businesses in Kenya That Will Never Fail
1. FinTech Business
The Financial Technology industry in Kenya has a low risk of failure. The goal of this business is to increase the effectiveness of financial transactions. You can create a Fintech company that can speed up and reduce the cost of banking and financial services. PayPal, Mastercard, Pesapal, Interswitch, and more well-known businesses already operate in this market.
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2. Laundry Business
The laundry business is another successful industry with a low failure rate. This business generates a sizable daily profit. The clothing don’t have to be washed by you. Equipment for washing and ironing garments is available, as well as washing machines. The good news is that you only need a small workforce to launch your firm.
Anywhere there are people, that is where your washing business can be found. However, the city, not the countryside, is where this business thrives the most. You won’t have to travel very far to find consumers if you locate your laundry service inside a hotel, dormitory at a school, hospital, industrial, church, etc. because customers from your host environment are more inclined to support your firm.
3. Education Business
Are you looking for business that will always succeed? One of such industries is education. It is impossible to overstate the importance of receiving a good education. Therefore, the need for high-quality educational institutions in Kenya will continue to grow over time. A virtual education platform or a school can be built online. Education-related businesses have the potential to generate billions of shillings.
4. Food Business
The food industry is one of the most lucrative industries on the planet. This is because one of a man’s basic requirements is eating. People need to eat every day to keep alive, regardless of the city’s economic climate. Without a doubt, billions of shillings are spent every day in the food industry, and anyone with a keen business sense can enter the market.
Food processing, food storage, food production, restaurants, and eateries are a few of the business kinds you can launch in the food industry. You can launch it as a micro business or a major corporation. Your decision is yours.
5. Information Technology Business
Another business that experiences little to no failure is this one. It involves creating digital goods and services. The modern economy is based on information technology. The fact that the world’s wealthiest millionaires operate in this industry is intriguing.
Businesses like Amazon, Google, Microsoft, Facebook, Apple, Bluehost, etc. are examples.
Whether you are tech skilled or not, you may start an IT company. However, you’ll perform better if you have enough knowledge in coding, software engineering, and information security. This explains why people like Elon Musk, Bill Gates, Jeff Bezos, and Mark Zuckerberg consistently rank among the world’s richest billionaires on Forbes’ list.
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6. Health Care Business.
The health care industry in Kenya also has a low failure rate. All humans have a fundamental need for health. As a result, spending money on health care is common. Before starting a business in the health care niche, you are not required to be a medical professional or other member of the medical staff.
You can pursue this kind of business if you have the resources and the desire. Pharmacies, dentistry clinics, and hospitals are a few examples of companies in the health care niche. Keep in mind that before you can start this kind of business, you must receive the appropriate permissions and licenses from the government. Additionally, you’ll need money to buy the equipment and other things your firm will require.
7. Real Estate Business
Real estate business is another industry with a low failure rate. The real estate industry is not just for the wealthy. Regardless of your financial situation—rich, middle class, or average—you may start a real estate business and profit.
Depending on where you are and how much you know about this niche, there are opportunities for everyone in this business. The purchasing and selling of lands and properties is another aspect of the real estate business. The advantage of real estate is that it doesn’t lose value over time. Instead, it gets bigger every day.
8. Renewable Energy - Solar
Renewable energy is a big industry in Kenya as well. You are able to start a solar energy business. There is no way to overstate the importance of a power source. Some people are powerless without a source of power.
Unfortunately, our cities and rural areas lack enough firms that produce and distribute electricity. Renewable energy is currently the most popular choice. Numerous businesses in this industry currently generate enormous daily profits.
9. Transportation Business
Are you looking for businesses that will always succeed? The transportation industry as a whole generates thousands, millions, and even billions of dollars every day. You can start a transportation company in any of these three domains: air, land, or sea.
You can purchase a plane and use it for commercial purposes. You may launch a transportation business similar to Bolt and Uber. You may create a company that transports people over rivers and seas by utilizing the sea. Not just for leisure, but also for business, you can purchase ships, flying boats, yachts, etc.
10. Agriculture Business
Sadly, some people believe that farming is a profession only for unemployed and poor farmers. That is untrue. Here is a business that has a slim chance of failing if you’re seeking for ones that will never fail. Agriculture is a successful industry. Farmers are among the richest individuals on the planet. Yes, you can work in either crop or animal production.
You can establish a farm for poultry, fish, pigs, cattle ranches, snails, etc. in the field of animal husbandry. Cassava, yams, rice, beans, tomatoes, groundnuts, onions, and other crops are all cultivable. People will always have a need for these items because they need to eat in order to survive.
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11. Entertainment Business
The entertainment industry is a very lucrative business that has little or no failure rate. This business is about producing quality Videos and Music that can entertain, educate and inspire the public. People like to watch videos. YouTube whose main business is serving the world with videos makes billions of dollars from this business niche.
12. Cleaning Business
Cleaning businesses are another venture with little risk of failure. This business can be launched from the convenience of your home. You require competent hands, cleaning supplies, and equipment. Offices, schools, churches, businesses, residential flats, and other establishments could be your clients. If people can find you, you’ll do better if you have a place of business and a business card.
13. Fashion and Apparel Business.
When you are looking for businesses that will never fail, don’t look too far. The fashion and apparel industry is one that has a small chance of failing. It has the potential to generate billions of shillings every day.
On their clothing, people spend a lot of money. Brands like Gucci, Nike, Louis Vuitton, and others are examples of businesses that are successful in the fashion and apparel industry. Clothes, shoes, and bags are all part of the fashion and apparel industry. If you have a passion for it, you can start this business.
14. Personal Fitness and Gym Business
One of the businesses that have a low failure rate in Kenya is personal fitness and gym business. People spend thousands of shillings daily to keep their fitness. You need a good location, quality fitness and gym machines etc. If you build this business in the city where there are a lot of young people, you will make alot of money.
15. Land Care Business
Land care businesses are another enterprise with minimal or no failure possibility. People must maintain a clean environment. Therefore, you must acquire the machinery and tools necessary to maintain the beauty of a location by professionally cutting flowers and weeding grass. You can work for private individuals in this industry. You can also work for organizations in this capacity.
Conclusion
Starting a business in Kenya, whether online or off, is not as simple as ABCD; you must first conduct the necessary research and due diligence. When unsure how to launch a specific firm, it can be preferable to pay an expert for advice. Long-term tension and regret can be avoided with sound advice from a professional coach or business mentor.