Starting A Business Amidst COVID-19? 8 Thriving Business Ideas To Try
The pandemic has not only claimed thousands of lives worldwide – but it has also left millions of people jobless. A great number of businesses have declared bankruptcy. A great number of employees have been laid off. A great number of people are struggling financially.
If you’re one of the people who have lost their jobs to COVID-19, you might be thinking: so, what now? What if no one’s hiring in my industry at the moment? Since the situation doesn’t seem to be improving soon, merely waiting for the economy to finally recover isn’t an option. You need to do something right now.
You just need to think about the products and services that are profitable during and even after the pandemic.
If you’re thinking about taking out business loans and investing in business amidst or after the pandemic, here are 8 business ideas that thrive.
1. Pivot to online transactions
One of the reasons why several businesses closed down is they’re not making enough to pay for the rent, utility bills, and their employees. While it’s a practical choice to close down physical stores to minimize the expenses, businesses who see continuous profits can still do something to save their firms. They may shift to online platforms and delivery.
2. Tap into delivery services
Do you have a car, motorcycle, or truck that you can use for revenue-making? You may consider starting a business related to deliveries or logistics.
Regardless of the business type and size, a robust delivery management solution is becoming a life-saver. With this, delivery services are experiencing a surge amid the pandemic. You can rent out your vehicle to businesses looking for ways to reach their customer’s doorstep or drive it yourself and work as delivery personnel.
3. Think about online learning
Schools and educational institutions globally are forced to close their doors and shift to online learning programs. You can look into opportunities in the online education industry, like becoming an online tutor or building your platform for learning.
While it’s helping both educators and students to cope with the current crisis, online education can also prepare the world for the next era.
4. Start a consulting business
If you’re thinking of a good business idea, begin with what you already know. Think of the skills you’ve already mastered and use them to advise clients as a consultant. Whether you focus on IT and web design or law and accounting, consulting is an easy business option with pretty much zero startup costs.
5. Open an online grocery store with delivery services
Do you sell groceries? Many customers opt to order groceries online to avoid getting exposed to the pandemic. You may capitalize on this by selling commodities and setting up an online store. Aside from basic needs like food, you can also sell medical supplies and supplements that are in dire need during this time. Ensure timely delivery of grocery orders at your client’s doorstep.
6. Find your luck in a food business
People say, “a food business will never go out of business.” Are you confident with your cooking skills? You can capitalize on your passion and start a food business. Sell restaurant-quality cooked meals, preserved goods, frozen goods, house-blend beverages, baked goods, and other food products that take time and a higher level of expertise to prepare.
Who knows? After the pandemic and your products have been recognized by hundreds of patrons,
What if you don’t have a cooking ability? You can look for legitimate food businesses and be a reseller. You can also opt for a franchise. Don’t forget to strengthen your online marketing and delivery services.
7. Consider fitness and wellness app
Fitness centers are among the businesses severely impacted by the pandemic. While physical gyms are closed, a lot of people are still willing to pay for professional workout plans and training even if they’re accessed digitally. According to business insider, online training apps and yoga and meditation apps are promising vast growth.
8. Start a service-based business
According to Entrepreneur, the businesses with the best chances of success tend to be serviced-based, not product-based. Think about your professional skills, as well as common skills that might be in demand.
For instance, if you’re a writer who’s been laid off, you can offer your content writing service to clients who might need to revamp their online profiles. If you’re a cook, you may earn more by marketing your business as a catering service than merely selling cooked meals.
No matter what industry you’re looking into, it’s best to do as much research as you can to get to know the market.
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