It is no secret that the Covid-19 pandemic has disrupted every aspect of our lives, leading to the loss of jobs and businesses’ closure. One silver linings are how people have discovered the need to be self-employed or build multiple revenue streams. Many people have started businesses with all the free time available from the lockdowns and working from home.
We already discussed the top 10 business industries you can start a business in this year. Today, however, we try to narrow down that list to some of the profitable businesses you can start during and post Covid-19.
1. Online Consultancy Firm
For professionals like lawyers, accountants, auditors, project managers, among others, finding a job might prove to be a challenging task considering many companies are laying off their staff. Whether you were unfortunate enough to lose your job courtesy of Covid-19 or looking to build an extra revenue stream, you can put your professional skills into use by starting a consulting firm.
How many individuals or small business owners in your area would like help with their books or manage their projects? There are also online sites where you can scout for clients within your region or outside your country.
The initial investment is also reasonably affordable with requirements like business registration, domain registration, and probably money to pay a web developer and designer. Alternatively, you can use the many available options for self-building websites, and you can have your consultancy site up and running in no time.
2. Home Improvement
The pandemic has opened people’s eyes, and many individuals are now looking to fix all those broken fixtures they have ignored for long or never knew existed in their property. Others are angling towards redecorating their home spaces- from the bedroom to yards and sitting areas.
While some individuals have the morale and energy to repaint their houses, not everyone is inclined to do so. Furthermore, there are home improvement activities that require a professional.
In that case, you can use your professional and creative skills and open home improvement skills. You can start with your property and that of loved ones and take photos or videos to showcase your skills. As more people see your skills online and your loved ones recommend you to their circles, you will start gaining a clientele base.
3. Teach Online
Is your teaching or coaching career at a standstill due to the closure of schools? The good news is that many schools worldwide have implemented online learning where classes are still happening through sites like Zoom. Another good news set is that parents are hiring online tutors for their children to supplement or even replace the school classes.
If you are a teacher, you can launch your career as an online tutor. You can start by advertising your services online, having pages on social media sites, or even creating a website. Alternatively, you can register as a tutor on online teaching platforms.
Teaching online can also be a business for a professional with skills and tips to share. Individuals are creating courses in various subjects like photography, copywriting, digital marketing to exam preparedness for professional course exams like CFA on platforms like Udemy and Skillshare.
4. Delivery Business
Of the many booming industries in 2020, even during the Covid-19 pandemic, is the service industry. This trend is bound to continue post-Covid-19, considering many individuals are warming up to the convenience of home or office deliveries. Some of the items to consider delivering include food, groceries, drinks, pharmaceuticals, or general household items.
5. Sell Handcrafted & Art Items
Embraces your creative side and launch a business to sell your products online or through a physical shop. Setting up a brick & mortar shop during the pandemic might not be the right move due to the social distancing rules, but an online shop will even give you a bigger marketing platform.
Do you like drawing, painting, carving, pottery, or even experimenting with scents? Any creatine work has a market, and you can carve out a niche for yourself and grow it into a business. If you run a search on sites like Etsy and Amazon, you will see individuals with small and medium-sized businesses where they sell their art and craft items.
Even handmade products like jewelry, scented candles, mats, body, and hair products have a niche. All you need to do is find your target market, like organic users, personalize your products, and get to marketing.
6. Health and Fitness Business
Although social distancing makes it quite difficult for people to visit gyms, you can start slow with an online-based business. This can entail selling fitness courses, having a fitness app, selling meal plans, or selling foods and items that help individuals in the health and fitness journey.
It is also possible to run a blog or vlog to share your ideas and routines with your followers. The more they share, the more you will gain a more significant following, increasing the possibility of monetizing these platforms.
7. Cleaning Services
As many businesses and schools return to onsite working, the need for proper cleaning, maintenance, and constant disinfecting of surfaces is set to increase. One business idea for this is opening a cleaning business where you or hired staff clean these areas. Another idea is to sell cleaning items, like soaps, disinfectants, gloves, and others.
8. Freelancing Business
Freelancing is also a form of self-employment. You are always in charge of when to work and the clients you want to work with. With multiple freelancing sites offering freelancers platforms to create their profiles and showcase their skills and expertise, you have a chance to start a freelancing business. There are numerous career categories for freelancers, from digital marketing to content creators, web developers, graphic designers, virtual assistants, social media marketers, etc.
Some sites to consider are Fiverr, Freelancer, Upwork, and People Per Hour. However, it is essential to note that clients will not come crawling the minute your profile is up. Patience is of the essence here but is rewarding once you start getting clients.
Whatever business you start, ensure you research the market and all the local government requirements. Most importantly, organize the finances for tax purposes since the end of the year is around the corner.