Last updated on March 2nd, 2024 at 05:41 pm
Starting a Duka business in Kenya can be a lucrative venture if done correctly. In this guide, we will cover the steps needed to start a successful Duka business, including the starting costs, location, requirements, market size, earnings per day, and pros and cons.
Starting Cost Breakdown
| Expense | Cost (KSH) |
|---|---|
| Business Permit | 2,500 |
| Rent | 10,000 |
| Stock | 20,000 |
| Display Shelves | 5,000 |
| Cash Register | 10,000 |
| Miscellaneous | 2,500 |
| Total | 50,000 |
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Location
The location of your Duka business is crucial for its success. Look for a location that is easily accessible, visible to customers, and has a high foot traffic. Consider renting a space in a busy market or a densely populated residential area.
Requirements
To start a Duka business in Kenya, you will need to obtain a business permit from the county government. You will also need to register your business with the Registrar of Companies and obtain a tax identification number (TIN) from the Kenya Revenue Authority (KRA).
Market Size
The market size for Duka businesses in Kenya is quite large, as these small shops are a common sight in many neighborhoods and towns across the country. However, competition can be fierce, so it is important to differentiate your business by offering unique products, excellent customer service, and competitive prices.
Earnings per Day
The earnings per day for a Duka business can vary depending on several factors, including location, stock, and pricing. On average, a Duka business can make between KSH 1,000 to KSH 5,000 per day.
Pros and Cons
Pros:
- Low startup costs compared to other businesses
- Flexibility in terms of operating hours
- Opportunity to build relationships with customers
Cons:
- Competition from other Duka businesses
- Need to constantly monitor and restock inventory
- Vulnerability to theft and shoplifting
Conclusion: Starting a Duka business in Kenya requires careful planning and execution. By following the steps outlined in this guide, you can increase your chances of success in this lucrative industry. Remember to stay competitive, offer excellent customer service, and keep your inventory well-stocked to attract and retain customers.
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