4 Profitable Business Ideas for Young People in 2023: As a young person, some of the things that may be deterring you from starting a business may be a lack of capital, lack of experience, or being unable to decide which idea to start. Here are four businesses you can start without much capital or experience:
Content Creation
If you’re aged between 18 to 24, content creation is an excellent business idea as it has the lowest barrier to entry. Social media platforms such as Facebook, TikTok, Snapchat, Instagram, and YouTube will be in dire need of user-generated content in 2023. You can make a fortune from these platforms by creating content, amassing a following, and partnering with brands.
For instance, a thousand followers are enough for you to start making money on TikTok. Content can range from vlogs, challenges, pranks, etc. Making money on social media boils down to one simple concept; get an audience, get paid.
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To succeed in social media, you’ll need to be adventurous, look at what other people are doing, and do the same using your own strategies. As you start growing your audience, look for ways to partner with brands such as Twiva or Wowzi, which pay influencers. You could also tag brands in your posts, and if they like the attention, they might hire you for their social media campaigns.
Social Media Management
The second business idea is to become a social media manager. You can approach people or businesses who don’t have enough time to spend online and offer to handle their social media accounts. Most older people aren’t tech-savvy; you can help them create and upload social media content.
This is a good way to make recurring income. If you get three businesses to pay you something like ksh 5 000 – 15 000 per month to manage their social media accounts, you’re good to go. You could even use social media schedulers like Buffer to upload content at predetermined intervals, even when you are sleeping.
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Car Wash
Although many petrol stations in Kenya offer car wash services, you can approach the business from a different angle. On Sundays, big churches with vast numbers of congregants have plenty of congregants’ cars in their parking lots.
If you are a member of such a church, you could offer to wash these cars as the service is ongoing. By the time the car owners exit the church, their vehicles are clean and you get paid.
This is a good business idea, especially if water is available in the church. All you’ll need is labor and some cleaning materials. You could even outsource the work to your friends. You can scale the business to big offices with more cars, which can be an easy way to generate money.
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Smart entrepreneurs are always on the lookout for ways to add value to customers. If car owners don’t have time to go to the car wash, take the car wash to them.
Photography/Videography
The startup costs of this business are a bit higher, as you’ll need equipment such as cameras and lighting. If you have the money, you could start by purchasing your own camera. Most cameras cost between ksh 20 000 to ksh 100 000. If you don’t have the money, you can hire a camera.
Pass the cost of hiring the camera to the client, and you’ll have made a profit. When starting, focus on making your services as affordable as possible. With time, you can raise your prices as you gain experience.
Please share any profitable business ideas for Young People you know in the comments section below.