The pandemic has thrown a wrench into many business plans this year. As if starting a business were not difficult enough, aspiring entrepreneurs face additional challenges now; this includes a public health crisis, being unable to travel freely, and a higher unemployment rate among consumers. Despite these challenges, there are many business opportunities that to supplement their income and improve economic status. Ready to start a business during the pandemic? Here are three low-cost pandemic-friendly business ideas to consider.
Online Consultancy Business
Are you a doctor, dietician, dermatologist, lawyer, financial advisor, or an expert in a certain field? If so, consider starting an online consulting business, and use your expertise to offer consulting services to clients. Because of the pandemic, many services have gone digital. Doctors and healthcare providers are offering online consultations to cater to patients without risking their and health and safety. Non-healthcare professionals are also going online to offer their services. Financial advisors, lawyers, and even, fitness coaches are offering their services to clients over the internet. This is made possible by modern teleconferencing technology.
To set up your own consulting business, you need to create an e-commerce website; or find a platform where clients can check and book your services. You also need to use Skype, Zoom, Google Meet, or other videoconferencing platforms or apps to meet your clients.
If you’re planning on doing this for the long term, consider investing in an app where you can do everything, from booking a consultation and processing payments to meeting with clients and accessing data from the previous consultations. This may require a larger investment; so you can slowly develop on this idea with experts on app development while you save funds for this project.
Online Tutoring Business
With many schools remaining closed, parents are looking for different ways to get their children an education. If you’re a teacher who’s been affected financially by the current situation, starting your own online tutoring business can be one of a few excellent pandemic-friendly business ideas. Even if you’re not a professional teacher, you can establish a tutoring business as long as you have the educational qualifications for it or expertise on a subject matter.
Tutors earn between $10 and $75 per hour, depending on the student’s education level and the subject matter. Tutors on highly specialized subjects, like foreign languages, advanced physics, or preparations for the SATs or GRE, usually charge higher rates.
To start your own tutoring business, you need to create a website where prospective clients can book your services. You also need video conferencing tools and software. Most importantly, you need to have a network of potential clients to ensure your tutoring business can get on its feet shortly after launching. Otherwise, you may have to spend considerable time to build your network, so you won’t be earning much at the onset.
Fashionable Protective Wear
Scientists say that the coronavirus pandemic may last until 2021 and beyond. With the pandemic gearing up for the long haul, the world and the way people go about their daily lives are changed forever. A new normal has already set in. And this provides excellent motivation to come up with pandemic-friendly business ideas.
One of the changes ushered in by the pandemic can be seen in how people dress. Wherever you look, you can see people outside wearing face masks, gloves, and other items of clothing that protect them from exposure to the coronavirus. Face masks may stay in style for years to come, and one good thing about this is that it has opened up a business opportunity to aspiring entrepreneurs. There’s probably no other more essential protective product than face masks are in the middle of this pandemic.
The first step to start your face mask business is to find your market. Ask your family, friends, and acquaintances if they would be interested in purchasing face masks from you. Check social media to see if there are a lot of people in your area looking to buy masks. Once you can confirm that there is a market for your product, you move on to the next step: finding your supplier. You can either sell disposable masks or make your own products. The latter may be a better choice if you want to differentiate your business from that of others.
To create your own masks, you’ll need a sewing machine and fabrics that filter out tiny aerosol particles. You’ll either need to learn how to sew or to hire people who can make the masks for you. In addition to that, you’ll need a platform where you can sell your face masks. Facebook, Instagram, and Twitter are excellent places to start promoting your products, and then you can build an e-commerce website when you have the funds. Constant marketing and promotions, especially in your local area, will be very important for your business to thrive.
The Bottom Line
There’s no denying that the pandemic has greatly affected the economy. Many businesses are closing while many more people are out of work. Now more than ever, it’s vital to capitalize on any opportunity you can find to improve your financial situation. Whether it’s one of these pandemic-friendly business ideas or a side hustle, take the ball and run with it. With hard work and informed decision-making, you can increase your chances of success in any venture you try. For more pandemic-friendly business ideas, read this:
10 of the Fastest Growing Job Trends that Offer Flexible and Remote Work Options.