So you’re thinking of starting a business and haven’t yet figured out your business idea. To get some inspiration you’ve probably browsed the Internet reading about this banker who quit their job to start a 120k per month business, or this boda rider who became a millionaire. In 2017 our team went through the trouble of narrowing down the 5 best industries where you can start a business. Here are 5 simple online business ideas that you can start with no money.
1. Affiliate Marketing in Kenya
This is an opportunity for you to make money online by referring people, starting with friends and family, to buy something for a commission. It’s common practice for E-commerce websites to have affiliate programmes. Jumia Kenya have a fairly consistent Affiliate Marketing Programme with commissions of up to 11% of the value of the item sold. Commissions on other platforms range between 5% and 30% and the best part is that opening an affiliate account is absolutely free! So you can start by making as many friends as you can online, getting to know their interests, and then helping them find good deals online for an affiliate commission.
2. Become a Freelancer in Kenya
If you have good knowledge in a particular subject or want to make good money from your talent you can become a freelancer in Kenya. A freelancer is a person who is self-employed and is not necessarily committed to a particular employer long-term. Whether you’re into article writing or programming there’s definitely an online marketplace where you can offer your services at a fee. To earn good money you need to get good reviews from your clients. Experienced professional freelancers can earn up to 1 million shillings a month!
3. Social Media Marketing in Kenya
Brands and businesses are always looking to reach out to consumers on online platforms and understand the importance of influencer marketing in achieving this goal. A research report by Nielsen revealed that over 92% of consumers trust referrals from people they know giving you an indication that social media marketing works! So if you’re talented enough grow a substantial online presence, like Jaymo Ule Msee, Sharon “This is Ess” Mundia, Xtian Dela or Maina Kageni, then you can make some good money marketing products on your social media platforms.
According to Kamarichi Mbarani the CEO of Medios, Kenya’s Largest Influencer Marketing Agency, social media marketing pay cheques usually range from 1,000 shillings per day to 5 million shillings for the bigger brand campaigns. So you can make good money on social media platforms like WhatsApp, Facebook and Twitter all the while making new friends.
4.Become an Online Content Creator in Kenya
With over a billion hours of video watched per day, video-sharing websites like YouTube have given users a global platform to tell stories. The tricky part is telling a story that can appeal to a wide audience. Getting your content on YouTube is as simple as recording a video on your smartphone! Ask the kids who recorded the lamba lolo video or the thitima video each of which have over a million views on YouTube. One thing you must consider when making money on online videos is that you must have a sizable audience. A million views is a good place to start because that is when advertisers will take you seriously.
As a content creator in Kenya you will also need is a professional management team that will help you monetize your content. That way you can sit back as your online content gets you more views for more cash. One of YouTube’s content management partners is Ngomma run by Clement “Clemo” Rapudo who also happens to the co-founder of Calif Records. They help content creators make money from their online content.
5. Become a Sports Betting Consultant in Kenya
If you have a passion for sports then its about time you got paid for it! With statistics indicating that 99% of gamblers lose money, there’s an opportunity in by helping gamblers increase their chances of winning. Just to size up the market, a recent study on betting by Data Science Limited indicated that at 76%, Kenya has the highest number of youth engaged in sports betting in Africa with 79% of the bets being placed on football matches. This means that there is a largely untapped demand for service providers in this space.
A betting consultant simply advises people on how they should bet (not lose) for a small fee, usually a percentage of the winnings. All you need to do as a consultant is convince your customer that your method of playing the odds gives them a better chance of winning. Integrity, a good track record and customer satisfaction play a big role in this line of work. On the up-side you can charge up to 30% of the winnings should you deliver consistent results. A word of caution though is that you cannot publicly advertise such a service because you would then need to be regulated by the government.
So there you have it! 5 online business ideas that you can start in Kenya with no money! Stay tuned for more in-depth insights on how to become a millionaire by starting your online business.