It’s not a secret that abandoning a guaranteed source of income to start your own venture requires a great deal of optimism. Many business ideas require time and money. Even so, there is no guarantee of success. As an entrepreneur, you walk into the venture expecting good sales or total failure. Such is the business environment as we know it.
However, thanks to the COVID 19 pandemic, the virus has redefined our traditional cultures and way of doing things. It has made us retreat to our homes and avoid social contact for fear of contamination. These stringent actions have borne contactless business transactions in the country.
As a result, I have compiled a list of rewarding low investment opportunities online that you can take up as a side hustle amid your busy schedule
- Drop Shipping
Dropshipping is a cheap and quick fast-rising business model in which you make sales and pass orders to your supplier. Dropshipping is a retail fulfillment method where a store doesn’t keep the products it sells in stock. Instead, when a store sells a product using the drop-shipping model, it purchases the item from a third party and has it shipped directly to the customer. As a result, the seller doesn’t have to handle the product directly.
In this model, your store name should reflect the products you deal in e.g. school bags for school going children or beachwear for the swimming enthusiasts. This business requires you to build trust with your customers and have a good working relationship with local and foreign suppliers.
There are two types of drop shipping; low ticket and high ticket drop shipping. Depending on the model of your choice and the amount of work you put in the hustle, you will go home with Ksh 50,000 to 200,000 in a month.
2. Online boutique
Contrary to what you’re thinking, an online boutique is not all about picking clothes popularly known as ‘Kenya uniform’ from Eastleigh merchants and pasting the pictures online!
An online boutique is in touch with your keen sense of fashion and style. In this, you can source items from different vendors and march them to have a head to toe perfect look. For instance, you can get a pair of stilettos, pair it up with a marching dress or pants and accessorise it accordingly.
Model the outfit in a product photo and create social media posts to market it. For you to thrive in this business, Pinterest, Instagram and Facebook are your friend! This business will see you making close to Ksh 100,000 in a month.
3. Digital products and courses
This is a promising line of business for a smart individual. Ask yourself, what are the resources people are looking for online?
Engage in digital products like resume templates, SEO and social media short course. The trick is in being in touch with the digital products that people need and are willing to pay for.
For example, if it’s a template for developing a communication strategy, make it as real and resourceful as possible. People seeking to develop their skills in writing a communication strategy will actually pay to download the copy. Suppose you charge Ksh. 100 – 450 per copy, 20 downloads will earn you between Ksh. 2,000 to 9,000.
Consequently, if you have a talent like singing or cracking jokes, re-align your talent online to bring you an extra income. I mean, what do you stand to lose anyway?
4. Digital Influencers
Now I know for a fact that you are not the Jack, Dick nor Harry who posts the A to Z of your life online. However, marketers have expressed a possibility of relying on online influencers in the near future. As the mainstream is steadily going under, online influencers will be the new way for brands to market their products.
This business idea doesn’t require any capital to kick start it. You only need to have the ability to capture and maintain the attention of others. You guys remember the famous tiktoker who’s now eating life with a spade? That could be you. Just grow your audience in your preferred platform i.e. YouTube, Instagram, Tiktok, WordPress and smile all the way to the bank.
Depending on the traction on your pages, a company can pay up to Ksh. 40, 000 per social media post.