Top 5 Most Profitable Businesses You Should Invest In

The world of investment offers countless opportunities for you to invest in. There are many businesses that you can invest in. Small businesses require more work and relatively higher risk, but startups can pay off well. However, selecting where you will put your money can be pretty challenging with so many options available.

There are different reasons why you should invest in a business. These include:

  • You have more control over your money

  • It’s less risky than investments such as trading stocks, bonds, Forex, and futures.

  • It is an excellent way of diversifying your portfolio and income streams

  • You have more access to loans and investment opportunities to grow your business.

We have compiled the top 5 businesses you should invest in based on factors like growth potential, sustainability, and profitability. Whether you want a short-term or long-term investment, these options will give you huge returns. Dive in to read more!

Real Estate

Real estate is one of the most profitable businesses that can give you huge returns within a short period. Before setting up your company or real estate office, you can start as a property and land broker. This way, you will gain enough capital to get the licensing, establish a team, acquire office equipment, market your business, and create an online presence. As you build relationships, you create a regular funnel of new clients, making sales faster and marketing properties more effectively.

Real estate comprises of:

  • Land and improvements include buildings, roads, utility systems, structures, and fixtures.

  • Property rights involve giving a title of ownership to the land, natural resources available, and improvements.

  • Leasing

There are different categories of real estate that you can consider, which include:

  • Land

  • Residential

  • Commercial

  • Industrial

Setting up restaurants can be a good idea to diversify your portfolio. Set up your rentals near schools and places with a large population, and your houses will be full.

Convenience Stores

Convenience stores are easy to run and can be a stable source of income. With a good business plan, there are many ways you can make money. According to the 2022 Convenience Store News Industry Report, convenience store revenue ranged at $663.5 billion, a growth of about 25%. The industry has already recovered from the pandemic levels. Keep reading to learn how you can make your convenience store profitable. Have a look!

  • Increase your food selection: This way, you will be more competitive with quick-service restaurants. Consider adding more food meal options.

  • Up your prices on popular items: It might sound strange, but it might be a good idea for food options. Customers are buying for the convenience of your products. But don’t overprice.

  • Have a solid understanding of product placement: It takes a few seconds for one to make a buying decision. Consider placing selling items at eye level. This will give better catch on your potential customer’s attention.

Start an Agribusiness

As the agribusiness journey becomes more interesting, the profits become sweeter. Kenya provides excellent growing conditions for various crops such as fruits, vegetables, flowers, cereals, and exotic plants. Agri-technology is still advancing and becoming more accessible to farmers. Besides, they are becoming more affordable. Venturing into agribusiness, especially high-value crops, can be a great way to have a stable source of income.

Before investing in a crop, you need to understand a few aspects like:

  • Ecological requirements

  • Seed/seedling selection

  • Germination

  • Grafting

  • Pest and disease control

  • Plant maintenance

If you decide to invest in fruit farming, consider growing high-value crops such as:

  • Macadamia

  • Passion fruits

  • Hass avocado

  • Pawpaws

  • Strawberries

  • Grapes

  • Tree tomato

  • Exotic fruits such as dragon fruits

Check out Oxfarm and Oxfarm Organic websites to learn more.

For horticultural crops, you can try crops such as:

  • Onions

  • Cabbage

  • French beans

  • Snow peas, sugar snap, and garden peas

  • Spinach

  • Kales

  • Tomatoes

  • Carrots

  • Capsicum

  • Brocolli

  • Beans

Besides, you can try:

  • Poultry farming

  • Dairy farming

  • Beef farming

  • Fish farming

Online Businesses and E-commerce

There are countless opportunities to make money online. For instance, you can offer consulting services, coaching, content writing, and marketing or sell products online. Also, you can promote other people’s products as an influencer and marketer. You can also earn through affiliate marketing on platforms such as Amazon. Here are the top ways to make money online:

  • Drop shipping

  • Offer online courses or coaching

  • Content writing services

  • Digital Marketing

  • Consultancy services

  • Sell products online

  • Earn from subscriptions

Drop Shipping

Managing inventory can be challenging, especially when you are not familiar with effectively running a business. Drip shipping is an easy, low-cost fulfillment model whereby a third-party supplier stores and ships products to your customers on your behalf. It’s one of the easiest businesses to start.

To start with, you can drop ship on local sites such as:

  • Jiji

  • Jumia

  • Kilimall

You can also drop ship on global platforms like:

  • eBay

  • Amazon

  • Alibaba

  • Wholesale Central

  • AliExpress

  • Doba

  • Modalyst

  • Wholesale2b

  • Inventory Source

  • SaleHoo

  • Megagoods

  • Walmart

  • Oberlo

  • Worldwide Brands

  • Spocket

  • Shopify sites

You don’t have to handle the products yourself, all you do is make sales and pass orders on to your supplier. However, marketing and customer service should be on your side. Ensure you make it top-notch.

Create Digital Products or Online Courses

Offering digital products such as podcasts, templates, music, and courses can also be a profitable business idea. There are no shipping costs and recurring manufacturing.

On courses, for instance, you can teach people on content writing, mathematics, programming, software development, marketing, engineering, human resources, businesses, theology, biology, or any subject that you are familiar with. Check out Neil Patel’s online courses to have an overview of what you can do.

You can also offer templates for different niches such as web design such as ThemeForest, CV, documents, e-signatures like Docusign, or images such as Getty Images.

Content Writing

There are millions of websites currently, small, medium, and large. These websites need content, with some having huge content needs. This ranges from blog posts, landing pages, white papers, articles, listicles, guides, advertisements, documents, course materials, how-tos, and other features that require impeccable content. If you can hack that, you can grow your writing career well. But, you need:

  • Good grammar

  • Impeccable writing skills

  • A high level of creativity

  • Exceptional research skills

  • Fast Wi-Fi and proper internet access

  • A good laptop or desktop PC

Build an Audience You Can Monetize

The ability to capture and keep an audience’s attention can be a valuable resource. By feeding your website or channel with regular content, you will be able to grow your audience and increase traffic to your site. This can be on LinkedIn, Youtube, Instagram, Facebook, TikTok, or your website. With a growing audience, you can monetize your site, channel, or profile in various ways like:

  • Become an influence

  • Provide space for sponsored posts on behalf of brands

  • Sell physical or digital products

  • Create a subscription-based model

  • Sell ad-space

  • Try affiliate marketing

Note you don’t need millions of followers to monetize your site.

Storage Facilities

With the increasing number of businesses and people looking for storage, it can be a good idea to set up storage facilities. However, its profitability will vary depending on the location you choose. All you need is someone to rent out units, handle basic property care, and handle basic customer service. To get started, ensure you work with a trusted real estate agent.

Storage facilities have various advantages, such as:

  • They have a high demand from customers who need additional product storage space.

  • Higher security of stored items

  • Creates room for easy expansion

The income generated will vary depending on the size and location of the facilities, the clients you will have, and the additional solutions you offer. Also, the net profit will vary if you own or rent the space.

Other businesses you can try are:

  • Create an online fashion boutique. You can do this on WordPress, Wix, Shopify, or Magento.

  • Start a consultancy business

  • Set up an AirBNB

  • Start an accountancy firm

  • Establish a web design startup

So there you have it, the top 5 businesses you should invest in. Which would you like to start with? Build your portfolio and have a website in place. Start investing.

You’ll notice we didn’t include any stock market advice in this article because that can be very tricky, and not everyone is comfortable with the risks involved. If you’re looking for more information on stock trading, we have an exciting guide coming up.

What are some other ways to invest? Be on the lookout for more insights.

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