How much of a big deal is Mitumba business in the country? Mitumba business is estimated to be a source of livelihood for close to 700,00 families in Kenya. In 2019, data from the Kenya National Bureau of Statistics (KNBS) showed that Kenyans spent Ksh. 11.96 Billion (USD 112.4 Mn) in the first six months of 2019 on second-hand wears.
Visible economic strains witnessed over the years due to high cost of living, have seen many Kenyans pivot towards ‘repeat’ wears. One can buy used wears for as low as Ksh. 10.00 making it a cheaper and convenient option for most people.
Believe it or not, credible reports have shown that 80% of Kenya’s population are staunch buyers of second hand clothes. If these numbers are anything to go by, then its time you took a step of faith and establish your own enterprise in the mitumba industry.
As compared to starting a business in other fields, small mitumba business can be funded with as little as Ksh. 1,000. For a medium mitumba business, you can start with Ksh. 20,000 to 100,000. For those who like starting big, equip your pocket with more than Ksh. 100,000.
The pricing breakdown is an indication that your capital will eventually determine the size of your mitumba business. Since money is not a hindrance, with your little money, you can acquire goods from other traders and avail them to your target market.
As your financial muscle grows, you can decide to pump your profits into a larger franchise. Instead of picking clothes randomly for resale, as you niche grows you might prefer purchasing the stock in bales.
As you set out to zero into this profitable venture, remember that playing your cards right in this business is a major plus to creating a successful mitumba business. Hard work and commitment are a must as this is no get-rich-quick scheme.