In Kenya, if you own business that gives you a monthly profit of Sh 100, 000, then you are blessed. The competition in any kind of business is so stiff that no one enjoys monopoly, except Safaricom limited.
We normally interact with some business owners concerning their challenges, performance and future outlook. Though a large number complain that business is not good nowadays, there are a number of individuals who are making good cash.
From their reactions, those who make over a million are over 3000 in Kenya, where majority come from Nairobi. Statistics show that out of the 8,000 millionaires in Nairobi, 7,000 are business people. Moreover, the business owners are spread across different business segments.
We took time to analyze the businesses which generate monthly profits of at least Sh 1 million from our study, as indicated below.
1. Fast Food Restaurant in Nairobi CBD or Westlands Nairobi
A fast food restaurant with a sitting capacity of 50 people in Nairobi CBD makes and average of Ksh 1.5 million per month, without tax.This profit sometimes goes high depending on the season and the amount of competition.
Some of the streets which were found to be ideal for this business include Moi Avenue, Koinange Street, Tom Mboya Street, River Road and Mama Ngina Street.
We also realized that in Westlands, several fast food restaurants make over Sh 1 million per month. This is contributed by the huge financial muscle of people who live in the area.
I can say with full confidence that several hotels in Nairobi and Mombasa make over Sh 1 million per month; some hotels in Kisumu and Nakuru also make similar amount.
If you find hotel with a sitting capacity of at least 30 people and manages to even do nyama choma,then know that those people make a cool one million per month.
But there are few big hotels without high flow of customers, they make less.
3. Chemist (Nairobi)
A chemist in the middle of major towns generates good cash. It is almost impossible to get a chemist in Nairobi CBD posting a profit of less than Sh 100,000 in a month.
There is money in this industry and the fact that not everyone is allowed to own a chemist in Kenya makes it easier for some chemist owners to thrive in any environment.
4. Selling timber
Have you ever thought of doing this business? I used to think that whoever engages in such business is crazy until I got a schoolmate who revealed to me what they pocket each month.
Timber business in Nairobi and Mombasa is capable of giving you the million you have been yearning for.
5. Matatu Business
As much as there are controversies surrounding matatu industries in Kenya, there are a million success stories emanating from industry players.
You only need two 24 seater matatu vehicles to make a million each month in Nairobi.
A single matatu will give you between Ksh 15,000-Ksh 20,000 per day.If you have two matatus, then you will be assured of Sh30, 000 per day.
6. Hardware business
Keroche Industries CEO Tabitha Karanja used to operate hardware in Naivasha, do you know the Sh 1 billion profit she made from the business was the source of her capital for Keroche industries!
I respect anyone owning hardware because of the profits they make out of the business.