Do you want to start a new business and do not exactly know where to venture? This post will give you insights into the top 10 Untapped Business Ideas in Kenya to start.
Kenya is a country with untapped business potential. There are so many untapped opportunities in the market that you can turn into profitable businesses if you know what you’re doing!
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Top 10 Untapped Business Ideas
Here is a list of untapped business ideas to start in Kenya 2023.
1. E-Commerce business
According to SEACOM East Africa, e-commerce in Kenya is a 1.5 billion largely untapped dollar economy.
The industry remains untapped entirely due to a lack of ICT and logistical infrastructure, customer reluctance (exacerbated by the rise of cybercrime), low Internet penetration, and inadequate digital literacy.
However, this is changing, and Kenya has one of the largest e-commerce markets on the African continent with a growing population, increasing Internet access, and high mobile penetration.
READ ALSO: Top 10 Best Online Jobs in Kenya That Pay Through M-Pesa in 2022
Investing in an e-commerce business is a good idea and, moreso better if you have an offline business that you can take online easily by leveraging social media.
2. Mobile game development
The Mobile game industry is one with a lot of potential in Kenya. Mobile games are the most popular type of mobile application, and they’re more or less free to make, so it’s easy for anyone who knows how to code to get started with their apps.
The developers can monetize through ads, paid downloads, or micro-transactions within the app itself. Mobile gaming represents over 30% of all revenue from digital content globally, and African countries like Kenya have seen significant growth in this sector.
So there’s plenty of room for new entrants into the market here – while tech giants like Google (Niantic) and Facebook (Oculus) dominate virtual reality right now, don’t forget about smaller companies working on augmented reality (AR) solutions. Mobile game development is an excellent opportunity for small businesses, startups, and entrepreneurs to build on the African mobile gaming market.
3. Wearables business
The wearables market will grow from $16 billion to $36 billion by 2023, says a report released by research and consulting firm IDC – but the wearables that support mobile payments represent just one of many opportunities for those who are thinking about how they can integrate wearables into their businesses.
The way wearables have been changing our lives has led to new industries forming around them — like wearables-enabled fitness devices or smartwatches with payment capabilities such as Apple Pay (née Passbook). And this trend isn’t going away anytime soon; according to forecasts from Gartner, “wearable spending” on products like bright clothes and jewelry could reach $310 billion by 2020.
So wearables is a perfect niche for small businesses, startups, and entrepreneurs who want to build on the African wearables market.
The wearables industry in Africa has been steadily growing. More people are receptive to these products that they can use for health tracking and other practical uses like connected bracelets that unlock doors or let you pay at stores without using your phone.
4. Subscription business
The subscription business is still untapped in Kenya. Although there is enormous potential s in the subscription business, such as clubs and services. Here are some of the subscription club ideas that we have for you to explore.
- A subscription service where people could get products like clothes or shoes delivered every month to their doorstep.
- An online subscription service that offers information on various topics and educates people with different professions about how they should be doing specific tasks.
- Monthly subscription boxes from parents based on age groups such as newborns, toddlers, preschoolers, etc. this is handy because it saves time in looking up what to buy each month.
There are many subscription businesses to choose from. These include wine, beer, sweets, natural products, makeup kits, cosmetics, and accessories for pets, all of which the public may order every month. Find a market niche that has not yet been explored and start your own business with recurring payments.
The best thing about this type of company is that it covers many needs in one single item.
5. Sale of vegetarian and vegan products
This is another untapped small business idea in Kenya. The Sale of vegetarian and vegan products increases due to an increased number of people interested in a healthy diet.
You will never go wrong with the food industry in Kenya since people will always eat.
You may sell any products that comply with the Sale of vegetarian and vegan products requirements.
6. Sale of natural and handmade cosmetics
There is a certain kind of awareness in Kenya and globally about caring for the environment. There is an opportunity here to go into the business of natural and handmade cosmetics.
The trend is growing, and there are already several businesses in this niche. This remains an untapped business idea in Kenya but will soon be discovered.
7. Real estate business
The Real estate business in Kenya is still untapped, especially in the affordable housing segment. Many Kenyans are looking for housing but don’t have huge capital.
On the other end, realtors focussed too much on the upper and middle class, leaving a whole segment of the market untapped.
Office rental is also an excellent business to venture into.
8. IT Services in Kenya
Kenya is regarded as the Tech-hub of Africa and the Silicon Savanna.
Kenya has such a high demand for IT service providers because Kenyans are always looking for new technology. This means that there will be more opportunities in the future in the IT sector for entrepreneurs.
Also, Most Kenyans use smartphones, so mobile app development would also generate many more business opportunities.
It’s easier than ever to get started thanks to the support from the Government. IT services in Kenya are cheaper and, as a result, more affordable to businesses.
9. Food delivery business
You can never go wrong with the food industry, as I mentioned before.
Food delivery in Kenya is still relatively untouched, and you can establish a successful business as long as you have the right marketing strategies. Food delivery means different things to different people. Still, it mostly boils down to delivering food from one place to another without having the customer contact the seller.
A few popular Kenyan food delivery services are FoodPanda, UberEats, and Jumia Food Service, which offer both restaurants or individuals who cater for events to register on their platform and list the menus/foods that they serve. These platforms connect customers looking for restaurant meals with nearby eateries able to provide them at reasonable prices depending on the order location and proximity of commodities (e.g., fresh produce).
10. Car rental service
Services such as Uber, bolt, and the like being around has killed the car hire business. You’re mistaken.
Car rental services offer a different experience for travelers. Car rental service is still an untapped business in Kenya, with more and more people using car hire services on their travels worldwide.
Here is an example of the idea that will make you one of the top providers in this industry. You can rent out your cars to other drivers who need them when they aren’t driving themselves or want to avoid the high costs associated with owning a vehicle, such as insurance premiums, fuel charges, and parking fees at airports. A few companies allow customers to book cars online, while others require appointments set up by phone call or email.