10 Most lucrative business ideas in Kenya (2024)

In Kenya, both nationals and foreigners have an opportunity to venture into any business of their choice. But you don’t want to just attempt any business without knowing whether it is lucrative or not.

Hence, to help you, you’ll find a list of the ten most lucrative business ideas you can try out in Kenya. And you don’t need all the funds in this world to start these businesses; you can start small and grow with time.

Before we dive in, you should prepare your mind that you might experience some setbacks and limitations along the way. However, your passion for the business and determination to transform your financial status will keep you going.

Are you ready for an adventure? Continue reading…

Recommended: How to make money online in Kenya

10 Most lucrative business ideas in Kenya

• Food business
• Cosmetics business
• Home decor services
• Furniture business
• Travel agency business
• Baking/cake-making business
• Daycare business
• Freelancing
• Taxi business
• Spare part sales business

1. Food business

Food is one of the basic things we need to survive in life. Whichever aspects of food you are dealing with, people will always patronize you. 

In Kenya, the food business is very lucrative. You can research the type of food lacking in a particular area and make it available to the people there. 

And as you are meeting people’s demands, you will be enriching your bank account. After all, it’s a win-win situation for both parties. 

2. Cosmetics business

The cosmetics business is another lucrative business idea in Kenya. It involves nail polish, make-up, hair care products, skincare, manicure, and pedicure. 

All you need to get through is the cosmetics equipment and a store. Over time, as you advance in this business, you can start manufacturing your natural beauty products.

3. Home decor services

Do you have an eye for making homes beautiful? You can make a lot of money from this talent. 

And even if you are not talented in this area, you can learn from skilled people. Home decor service is a very lucrative business idea in Kenya. 

As a home decorator, you can charge for every hour you spend in a client’s house. This line of business is flexible because you can schedule your work to suit your convenience. That even makes it possible to still have time to run other businesses.

Also read: 10 Biggest banks in Kenya

4. Furniture business

The furniture business is very lucrative in Kenya. You can succeed in this line of work if you are passionate and have the required skills. 

One crucial aspect to consider before starting this business is the location you want it to be. You need to have access to people who value nice, modern furniture works and can afford them.

In the furniture business, you specialize in making chairs, sofa sets, and tables for your customers. 

5. Travel Agency Business

This is also a lucrative business idea in Kenya. Many people dream of travelling to more developed countries for education, greener pastures, etc, and need the help of a travelling agent to achieve their dreams. Many people also want to come to Kenya for tourism to explore the country. To be on top of this business, your business must have an online presence. 

This is because you can advertise your business through social media, like Instagram, Twitter, and other platforms where many people will be aware of your agency.

6. Baking/Cake-Making Business 

This is another lucrative business you can start even with little capital in Kenya. All you need is an oven for baking; if you want your business to be more successful, ensure your company has a delivery service. This will make them reach out to customers more.

You can also use social media pages such as Facebook, Instagram, TikTok, etc., to advertise your baking business and build your brand.

7. Daycare Business

Significant demand for daycare personnel in Kenya makes it a very lucrative business to venture into.

To succeed in this business, you have to be passionate about children and offer affordable services to your customers.

8. Freelancing

The freelancing business is lucrative and only requires a little capital to start because you are investing in a talent or skill you already have or want to develop. Freelancing work can be part-time or full-time. There is high demand for freelancers in various fields or niches such as;

• Writing
• Web development
• App development
• Content creators
• Social media management etc.

Sites where you can find freelance jobs include Upwork, Fiverr, Freelancer and more.

9. Taxi Business

In Kenya, taxis are very affordable, which means there are lots of people who make use of them. This is a business suitable for people of different age ranges. 

You can start with an old or new car if you have enough capital to purchase it. After acquiring the vehicle, ensure to paint it yellow, indicating it is for taxi services. You can also join apps like Uber, bolt, etc., to boost your business.

10. Spare-Parts Sales Business 

This is also a lucrative business idea in Kenya. However, it requires lots of capital to start. Well, you can’t expect less from such a highly lucrative venture.

To get started, you need at least a small space or store to sell your materials. And to be able to sell your merchandise quickly and make big profits too, focus more on spare parts for the following machines or vehicles;

• Tractors
• Trucks
• Buses
• German cars etc.

Conclusion

There are many lucrative business ideas in Kenya; the above listed are just a few. To succeed in any of the lucrative businesses you can venture into in Kenya, you need the required skills, equipment, and resources to pull such a business through.

Whichever business you enter, start small and work towards growing it over time. Have goals, and plan how to achieve these goals. 

Finally, you don’t have to limit yourself to only this top 10; other businesses are lucrative to do. Go for what you are passionate about!

You can invest in real estate. It’s one of the most profitable businesses to invest in. After buying a property, you can sell it for times 3 of the amount you bought it years later. You can buy houses, lands, industries, automobiles, etc., and sell again at a higher price to your customers.