Thursday, January 16, 2025

Boring yet profitable businesses that can make you millions

Boring yet profitable businesses that can make you millions

While other businesses are entangled in competitive competition, boring businesses enjoy a more tranquil market space.

One of the reasons why people tend to avoid these businesses is due to the tedious work involved. However, these businesses often have the potential for high profit margins and steady growth, making them attractive to those looking to succeed in a less-crowded venture.

This article features some of the boring businesses that have high-profit margins.

Co-Op center

  1. Garbage collection

This is one of the dirtiest yet profitable business opportunities that one can exploit. The success of this type of business hinges largely on creating good working relationships with landlords.

Your first step will be to identify a residential house in need of your services and then meet the landlord or agent and convince them on the need to engage you for garbage collection, especially where the county government’s similar services are erratic.

The landlord instructs tenants to put their garbage at a particular spot in the compound on specific days. They will then collect the fee from each tenant alongside the rent and remit it to your account.

The fee can range from Sh100 upwards per tenant monthly. Set the fee after ascertaining that you will meet the overhead costs and make a profit while at the same time beating competition.

You can start with a leased vehicle and purchase one with time.

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Co-Op post

What you need to get started

  1. Garbage bins or bags- You can buy the bags in wholesale and resell to tenants at a profit.
  2. National Environment Management Authority (Nema) licence or county permit-
  3. Garbage collectors
  4. Vehicle
  5. Dumping or recycling site
  6. Authorities’ support- For security reasons

2. Pest Control and fumigation

This involves controlling pests such as cockroaches, bedbugs, rats, among others. However, it is worth noting that this business requires careful planning, research, and investment.

Entrepreneurs starting this business are required to register their companies with a relevant government authority including the Registrar of companies, National Environment Management Authority (NEMA) and Pest Control Products Board (PCPB).

What you need

  1. Pest Control Products Board license
  2. Chemicals
  3. Equipment- sprayers, foggers, dusters, protective clothing,etc
  4. Professionals- Spray service providers should have at least a Certificate in Agriculture, animal health, or related sciences and or a Certificate issued by the Board and Agrochemicals Association of Kenya.

Those in fumigation services should have a Certificate in Fumigation issued by the

Board and Agrochemicals Association of Kenya or other recognized certificates.

3. Water supply business

This involves supplying water to residents, especially in informal settlements and other highly populated areas that experience constant water shortages.

You can either sell water to residents directly or make deliveries to vendors who then resell at a profit. This business can however be capital intensive for anyone intending to work with water bowsers. Alternatively, you can use handcarts which are affordable

What you need

  1. Water bowser/handcart
  2. Jerrycans/storage tank
  3. Full-time workers
  4. Water source
  5. licenses and permits

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