The COVID-19 pandemic will perhaps become synonymous with the biggest economic crisis to happen in the year 2020. Financial experts and economists can only place their educated guesses based on trends and data for how fast the world can recover from this health and financial crisis.
By now, it is not surprising to learn of the havoc that the pandemic unleashed on businesses of different industries, most notably in the health sector, retail, events, transportation, and food and beverage. Many lost their jobs or were deemed redundant by companies trying to cut costs and keep themselves afloat. This, in turn, caused problems for people’s finances and investments.
However, if there is one thing that humans are great at doing, it is adapting. A couple of months after the pandemic hit, many have tried to turn the pandemic into a business opportunity by providing helpful solutions to people who cannot go out. It also paved the way for ordinary citizens to explore business ideas that otherwise would not have been possible to do.
If you are wondering what these are and want to try your hand at starting a small business to recover, below are some profitable business ideas you can pursue in a post-pandemic world.
8 Profitable Business Ideas to Start After The COVID-19 Pandemic
Get hired as a digital marketer
If there is one place that COVID-19 cannot touch, it will be cyberspace. The internet has helped a lot of companies transition their operations from in-person to online. This is also probably one of the reasons why a total economic collapse did not happen—and also how people can still contact their loved ones during these trying times.
If you think you have skills fit for digital marketing, you might want to offer your professional services to companies who need it. Those who are just starting to transition online are your best bet, as they may need people for social media management, website UI/UX improvement, content writing, and graphic design, to name a few.
Even if you do not have the skills yet, it is possible to learn them through online classes and certifications and try to see where an online career can take you. For instance, you can take up online copywriting courses and get peer feedback and gigs until you know if you can have a future in that space.
If you do not have the necessary gadgets available, you can choose to invest in refurbished equipment that can open the world of digital right at your fingertips.
Look up online franchising
With the transition of many brands into the online space, there is an opportunity to stake a claim on online franchising opportunities. This does not require much legwork, as you can take advantage of the brand reputation and popularity rather than establishing your own. And, instead of looking for a nice spot to set up your business, you can operate everything online, from your sales to deliveries and more.
With the pandemic enforcing stricter restrictions on the reopening of brick-and-mortar shops, it will not be surprising if many brands continue to strengthen their e-commerce “branches.” This means a broader audience reach and less capital for acquiring a franchise since everything will be done online.
The most popular example of an online franchise is for food and beverage, as they are a necessity and something that will never go out of trend.
Get into stock trading
It is not impossible to learn stock trading or even be profitable while engaging in it, yet many are still wary and intimidated by the idea. Often, it is associated with risks and markets that are unpredictable. Indeed, the pandemic proved another reason for people to have doubts.
However, learning the ropes will help you discern which markets will boom or become profitable next. Think about it this way: Any business venture is a risk, and this one is no different. But, you can get the hang of this better by studying trends and following techniques done by professional traders who were able to multiply their accounts after a specific time.
Take a few classes, get familiar with the process, and start small with your first trade. Once you get the hang of it, you will be more enticed to follow up with even bigger moves and refine your strategies along the way—making for profitable income.
Become a virtual assistant
If you want to take up another form of online career, you may want to try your hand at becoming a virtual assistant. Some online companies offer it part-time, so you can earn extra or accommodate more clients depending on your workload.
Being a VA requires tech-savviness, time management, and flexibility. Not all job ads will post the same things as requirements, but it will not hurt to have some project management experience under your belt. You may handle phone calls or emails, research, calendar management, and admin work.
This can be a lucrative side hustle if you have flexible working hours with your day job, as long as you can balance the needs of your different clients.
Teach others a skill
Just like how you are learning skills from someone else in pursuit of making yourself more profitable, there are things you specialize in that you may want to share. For this reason, you may want to invest in becoming an online teacher in a specific field.
Perhaps you have been working out regularly and found ways to integrate a routine that does not need to make use of gym facilities. You could set up a side gig of being a personal trainer at home, starting as early as now to market yourself and craft your unique selling point from there.
You can also take online tutoring in a more traditional route, coaching others to learn your native tongue or with a subject that many students struggle with. The great thing here is you can manage everything at your own time and decide how many clients to take so you don’t get overwhelmed.
Local delivery services
If there is one thing the pandemic reminded consumers, it’s that delivery personnel are some of the unsung heroes of this crisis. With everyone shifting to online shopping, there has been a surge in demand for couriers across the globe.
With this project, perhaps you can try to start small and focus on your immediate neighborhood. Try to see if you have any local businesses that need delivery services and offer to be one of their riders, or accept driving around deliveries by batch during certain days. This not only helps you earn extra, but it also adds a sense of community building with the work that you want to do.
You could rope a few other friends or start looking for riders who want to earn extra with you, as well, until such time that you can manage a small group of riders doing local deliveries to people in your town.
Run an online store
The e-commerce industry has never seen such an exponential increase in users until possibly this year. Take advantage of this by talking to suppliers you know and stocking up on some essentials that you know are highly in demand.
Transform a spare room in your home into a warehouse or storage facility and hop online to make an automated shop that can accept payments securely. You might even want to start operating via social media and progress from there.
Whatever you end up selling, make sure it is competitively priced and that you offer an edge from other stores within your vicinity—things like discount codes, free delivery services, or rare items that only you carry. Be creative!
Do house calls
With safety being of utmost importance to consumers nowadays, a lot have preferred to switch to house calls for their different needs instead of stepping out and going to a store. Things like car repairs, home appliance maintenance, salon and personal care services, pet grooming, and more are suddenly in demand. This may last beyond the pandemic, especially if consumers begin to trust their specialists.
Try to see if you can offer anything similar within your neighborhood so it can be something you can do within familiar territory. Eventually, you will end up having regulars, and you can sandwich this in your schedule if you wish.
The Future Rests on Safety
While business profitability is on every company’s mind, you also need to prioritize safety. If you are planning to be in close contact with people, ensure your safety, as well as theirs. The world will reopen its doors to customers after the pandemic, but it will take a while before people stop being wary. Pick your strengths and work your way to help them make you earn extra in a responsible manner.
