Money Management
November 11, 2024
.jpg)
If you want to sell to a female buyer in Kenya, you should think beyond perfumes, clothing, and shoes. Of course, they continue to have enormous commercial potential since who wouldn't want to spend on the latest designer shoes or carry that stylish handbag? The hairstyles, current smartphones, and accessories cannot be overlooked.
However, according to Euromonitor International market research, many women in Kenya aren't just buying food and clothes. You will find them in the money/ stock market and realtors.
There are about five key areas where your business goldmine might lie. They are;
• Food
• Beauty products
• Apparel, including shoes and jewelry
• Female/baby care products
• Women Health
Otherwise, here's an expansive list of profitable businesses that sell to women in Kenya:
If you want to attract a fair gender, you should never overlook the market trend of baby care items. The mother/baby care industry is quite enormous. The list is almost endless, from feeding gear to baby diapers, oils, and clothing to nursery furniture.
To hack this million-dollar industry, you might have to create a specific niche or two. For example, you can specialise in selling baby diapers, feeding bottles, and formula. You can also sell baby detergents, oils, and clothing items on the side. One thing to remember is that parents want the best for their little ones. And so, you have to focus on the following:
Read Also: 10 Profitable Businesses to Start With Ksh50K in Kenya
Is realty/land property a profitable business option that sells to women in Kenya? Property ownership laws in Kenya have undergone tremendous changes over the last decade, enabling many women to own land, houses, and rental property.
Record numbers, irrespective of their marital status, know how empowering this investment type can be; hence, the high demand for housing and agricultural land in towns and rural areas, respectively.
Real estate investment is also one of the most reliable, less risky, and appreciating assets that attract many investors.
For good and efficient results, conduct extensive research to discover your target market. Create strong networks in the real estate business to be notified when opportunities to sell or buy occur.
Read Also: The 9 Routes to Owning a Home In Kenya
Insurance is perhaps one of the most profitable businesses that sell to women in Kenya. Many will scramble for them, whether it's education, health, or car insurance coverage.
Of course, the most important thing to know beforehand is that you sell intangible products. You have to convince people readily of the unique financial solutions that any insurance policies carry for the risks.
The demand for new imported clothes is often high because many people associate them with quality and longevity.
According to the Institute of Economic Affairs (IEA), about 25% of women in Kenya spend on new clothes compared to a paltry 8.5% that prefer secondhand clothing.
Some prime sources for new clothes include China and Turkey. The trick is to diversify this venture with new imported shoes, bags, and even wristwatches.
Read Also: Entrepreneurship Lessons From the Gutsy Ladies Behind VaaKenya, the Kenyan Shoe-Making Company
The daycare industry appeals more to women being primary custodians of young kids.
In most instances, daycares are suitable for; mothers looking to wean their babies and see daycare as a safer option, and those who don’t have the option of hiring a nanny or house help.
As a viable investment vehicle, the daycare business does not necessitate large initial funding. Equipment, overhead, and marketing are all part of the first expenditure. You may also need to invest in early childhood education. A huge passion for and patience with young children is also an advantage.
Parents in prime towns and cities pay as much as Ksh30,000 per term. Even if you start with as little as 10 to 20 kids, you can project for approximately Ksh300,000 or more in three months. Once you remove the expenses, you remain with excellent profits.
Read Also: Daycare Costs by Neighborhood in Nairobi
Have you ever taken the time to assess the number of weddings, funerals, baby showers, and similar gatherings each weekend or holiday? All these need someone to supply quality catering services, and that could be you.
Catering is broad; you have to research where you fit best. You might want to specialise in weddings and birthday parties or be a master of all trades. It depends on your expertise and resources.
Remember, though, the amount of profit you get depends largely on the type and number of events you host. A niche also helps you specialise in the type of food you serve.
You can also map out the type and number of clients you can host at any event. Sufficient capital, quality service, and networks are crucial components of your catering business.
An unquenchable business venture lies in the Skincare & beauty industry, with most women as direct and reliable buyers/consumers. But the business field is also quite extensive. For example, you might venture into either;
While some people prefer to specialise in some products/services, others choose to consolidate most of the products under a single brand. How you run the entity depends on your starting capital. The bigger it is, the more products you can sell.
Costume jewelry is part of African arts and crafts and is engrained in Kenyan culture.
If you visit Nairobi's Kariokor market, you understand why jewelry might be one of the most money-spinning businesses.
Even uptown/downtown areas of the city have huge displays of unique, attractive gems. While some are ornamental, others are to make a fashion statement.
The beauty of the jewelry business is that you do not have to be a designer to make it. You can partner with a few artisans to provide the type of jewelry you require.
If you are starting, family, friends, and referrals could be your money-making sounding board as you infiltrate the market. You can also use the online platform to showcase different jewelry designs that appeal to people of all backgrounds.
Selling sanitary products is a business gold mine in Kenya. Many young girls and women in their reproductive years regularly require sanitary towels/pads during the menstrual cycle.
Experts say you can venture either into sanitary towel manufacturing or selling the finished product.
A strategic location, especially in urban areas, can help make profits quickly. Retail shops and supermarkets can be your first point of call if you are supplying. Hospitals, dispensaries, clinics, and learning institutions are also vital selling strategic points.
Women in Kenya are accustomed to purchasing personal and household products. However, your earnings can also be found in bigger things like women's hygiene, baby care purchases, and investments. Remember that the list above is only a guideline, as there is no end on women's spending. The trick is to conduct a research and ask questions about your surroundings. You will not overlook a woman's dilemma that requires an immediate remedy in the form of a dynamic business idea.
.png){kind=small}
Join 1.5M Kenyans using Money254 to find better loans, savings accounts, and money tips today.
Money 254 is a new platform focused on helping you make more out of the money you have. We've created a simple, fast and secure way to find and compare financial products that best match your needs. All of the information shown is from products available at established financial institutions that our team of experts has tirelessly collected.
