Lipa pole pole or lipa later services are gaining traction in Kenya as a means of convenient shopping. Beyond shopping, the Buy Now Pay Later service could be an opportunity to fund to your business and use the earnings to make monthly instalments.
For example, the Absa Buy Now Lipa Later service for credit card customers allows you to make purchases of at least Ksh10,000 and repay in instalments of up to 12 months.
Here are 5 business ideas you can run using the Absa BNPL service for credit card customers:
The laundry business is fairly profitable and straightforward - which makes it an ideal venture. Imagine a convenient home-based laundry service, where customers can simply call in, and their clothes are collected, cleaned, and then delivered back to them. This concept involves establishing a laundry enterprise within your own home, effectively minimizing expenses like permits and rent.
The key here is launching a robust marketing strategy, particularly online via a website and social media platforms, coupled with physical outreach efforts targeted at specific neighborhoods. Part of the capital needed, particularly the washing machine equipment, can be obtained through a lipa pole pole plan. Here are the full capital requirements:
One of our guest writers already explained how she was able to buy a printer using her Absa credit card, then converted the purchase into a Buy Now Pay Later. The business has seen her make up to Ksh70,000 in monthly profit.
Depending on the size and location of the business, a carwash can be quite capital intensive. The advantage, however, is that some of the equipment can be bought on a lipa pole pole plan and have the profits cater for the monthly repayment instalments.
Some of the equipment
Starting a barbershop or a salon presents a lucrative opportunity, especially when there is a readily available customer base.
Grooming has become an increasingly important activity for both men and women. The initial investment required for a modest barbershop is comparatively modest in contrast to other entrepreneurial endeavors.
The starting capital can vary depending on the location and the intended business ambience. However, the equipment needed for most barbershops and salons is standard and can be sourced through Buy Now Pay Later service.
There is a growing demand for quality photography services. From social events such as birthdays, pregnancy shoots, parties - and even corporate events - photography has become a resourceful source of income for many people.
Photography, however, can be a capital-intensive business. The starting cost for a professional camera is typically Ksh60,000 - and may be as high as hundreds of thousands.
The Buy Now Pay Later service, therefore, can be a resourceful source of capital when accessing some of the equipment to get the business up. The revenues can then be directed to to making instalments.