The COVID-19 pandemic has affected businesses from all over the world. There has been a high case of unemployment within this period. The majority of unemployment cases is because of the massive laying-off of employees and the close of small-scale businesses across the globe. Many multinational companies have also felt the brunt of this bitter pill as they have been forced to cut down their staff strength to only a handful of employees.
The situation has become worse in recent weeks as most entrepreneurs and small business owners do not have any form of a reprieve even as lockdown eases in many countries. Some do not see themselves opening shop in no distant time also if the government gives them the all-clear to do so. To others, all hope seems to have been lost as they watch all they have labored for, crumbling before their very own eyes.
Everyone was caught off guard, even Ido Fishman and no one anticipated the grave havoc that the COVID-19 pandemic would wreck in the business world. But is all hope lost for small business owners? Is it possible to find your footing as an entrepreneur in a world where every other person seems to slip away? Are there businesses that still thrive even in this harsh business environment? The answer lies in this particular article. We shall explore the entrepreneurial mind and see how you can count your blessings even when everyone seems to be counting their losses. We shall examine some of the best start-ups you can invest in during this pandemic. But before we begin, let us explore the mind of an entrepreneur.
The entrepreneur mind
You must understand the entrepreneur’s mind at this critical time when many entrepreneurs are giving up on their dreams of owning a flourishing business. There has been a rising case of suicide as several small business owners have thrown in the towel, believing there is nothing else to salvage from their already devasted life. The entrepreneur’s mind explores opportunities when there seems to be none available.
Before you can invest in any of the start-ups, we shall mention in this article; you first of all have to have a different orientation and see a road where the path may lead to no-where. You may have lost so much as a business owner during this pandemic, but if you look closely, you will see that the pandemic has opened the door to limitless opportunities in the business world. Many companies, institutions, individuals, and small business owners just like Ido Fishman, are rebuilding and looking for new opportunities and you too can be part of the rebuilding process, but guess what? You can make money while doing so.
We shall now highlight some of the best start-ups that you can invest in during the COVID-19 market crash. They include the following:
With the spread of the coronavirus, one significant and viable business opportunity is cleaning services. It should not be surprising for the services of professional cleaners to be in high demand. These professional cleaning services may be involved in sanitizing restaurants, homes, and offices. There is a surge in demand for such services. If you have been out of business due to the COVID-19 pandemic, it may be great to explore such an opportunity to ensure that you stay relevant in the business world.
We are at a time when everyone is conscious about their hygiene and physical environment. There is a growing need for hand sanitizers and other sanitary items. You can invest in the production of hand sanitizers. The market is already in abundance, and you may have little to work to do in the aspect of advertising as customers are already available.
Another aspect of cleaning services you may consider is the aspect fumigation. Most homes, hospitals, offices, and business outlets are in dire need of fumigation services. They want to ensure that their environment is disinfected and free of any possible virus in the atmosphere or surroundings. You may decide to start a fumigation company because your service may be in very high demand.
At a time when several businesses are closing down, the delivery service business is experiencing a boom. The reason is that the lockdown policy implemented by most governments does not include those in the delivery service business. Since many people are staying home, they might employ the services of logistics or delivery service agents to help in the delivery of food items, medical supplies, and other household items.
Investing in the delivery service business does not require much capital, yet you stand a chance of making a good profit due to the high demand for your services. You may need to employ the other hands because you may be getting lots of enquiries. While others are laying off their staff, you may be hiring more staff. Many entrepreneurs in this sector have expressed satisfaction about the turn around of their business during this pandemic era. You, too, may be part of this highly lucrative business and smile at the bank at a time when others may be filing for bankruptcy.
The fact that most people are locked down at home does not mean that they have lost their taste for fun. Staying at home all day may be very boring and sometimes frustrating. It means that people may not be able to enjoy their favorite movies in the cinema because of the need to obey social distancing. Drive-in theaters have become quite popular since the start of the corona pandemic. With drive-in theaters, families may be able to watch their favorite movies from the comfort of their homes. These cinemas are mobile and can be driven to any home that requests your services
Some governments may frown at this service because it does not qualify as an essential service. Still, if your government or local council supports it, then you may have gotten yourself a viable investment opportunity.
With the general practice of social distancing, many restaurants and other fast food outlets have been asked to close shop. Many people are no longer eating out, but rather, they are left to plan and prepare their meals from their homes. This has incresed the demand for groceries. Grocery stores have increased in number in the last few months. There has been a high demand for groceries because people do tend to eat more when they are home, especially when they have little or nothing much to do.
Several grocery store owners have expressed surprise at the speed at which their stocks are emptied. Investing in the grocery store business at this time may not be a bad idea because the demand for groceries has rapidly increased, and you may get your ROI at a shorter time interval.
Wine and Liquor stores
Stores dealing with the sale of wines and liquor have also witnessed a spike in sales during the coronavirus pandemic. Since most people are spending most of their time at home, they tend to consume more liquor and wine, which has contributed to the increase in demand for these products. Some people also believe that taking wine and liquor may help deal with boredom, especially during the lockdown. A look at several wine and liquor store owners will tell you that they may be singing a different song from others whose business has nosedived as a result of the pandemic. So if you want to invest in any business during this pandemic period, well, you might want to consider this option.
Game makers and sellers
Staying at home means more idle times, which may increase boredom to some people. There have been reported cases of suicide attributed to the inability of some persons to stay locked down without having to live their lives. You may see this as an opportunity to provide fun in the lives of people, especially game lovers, by making quality games and putting it up for download at a particular cost. Playing games at this time when people would not have to worry about getting late for work, school, or any form of appointment may provide a relaxing past-time for them.
If you are not skilled in creating engaging games, you may employ the services of a game expert who would design highly interactive and engaging games. You can upload the game online to Google play store, iOS store, or other online platforms. This can make it possible for people to download your game while you make a lot of money from the number of downloads made. You may even decide to make use of in-app purchases as another means of making money. With that, people can purchase coins or other items needed to play the game while you smile to the bank.
Now that schools are closed, you may decide to create children’s educational games so that children may have an opportunity to learn while they have fun. Game companies in the United States have witnessed more downloads of their games in recent months, and you too may be part of this money-making opportunity when others are counting their losses.
The making of the mask was not in high demand until recently. The coronavirus pandemic has led to the shortage of this significant product because the need for face masks far outweighs the supply. Medical professionals are also running out of masks. Some are reported to be reusing face masks that have been worn previously. Apart from medical professionals, the general public has been advised to wear a face mask anytime they are leaving their homes.
What better time to produce and sell these masks than a period like this when most governments are gradually easing the lockdown. Wearing a face mask has been issued as part of the compulsory requirement for citizens in several countries if they are to go back to their everyday lives.
Apart from the medical mask, clothing entrepreneurs have started the production of clothing masks, which has also gained lots of sales in recent months. A gift wrap shop in Seattle, United States, has had to redirect all clothing inventory to the making of masks. The surge in demand for masks has reached an all-time high, and this is a lucrative market that you may want to invest in.
Investing in cryptocurrency is a very lucrative business opportunity. One good thing about the blockchain industry is that it is not easily affected by economic factors. So when other sectors of the economy may be experiencing a decline, investing in the blockchain industry may be a wise choice because there are several high valued cryptocurrencies that you may trade and earn good money. You may even choose to invest in futures and predict the price of these cryptocurrencies in the financial market.
The COVID-19 Pandemic may have had a negative effect on businesses, but cryptocurrency trading is still very viable. To get started in crypto trading, you need to understand how the market works. Several brokers can offer you a platform to trade on cryptocurrency. Ensure that you get a reliable and trusted exchange company before investing your money and time. Crypto trading has the potential to generate a very high ROI if you know the right trading strategy to use.
Most brokers provide resource materials and video tutorials and video tutorials to help educate and train traders on how they may enhance their profit. Crypto traders who are inexperienced can make use of trading robots to carry out trading activities. These trading bots are automated and may be able to trade on your behalf. The minimum deposit requirement for most crypto trading platforms is $250. The type of trading account you are opening may determine the maximum amount that you can deposit on the platform.
Issues bothering on cybersecurity is prevalent in the online marketplace, hence the need to be wary of scammers, fraudsters, hackers, and other perpetrators of cybercrime. Not all brokers are legit. Find out the list of reliable and trusted brokers from reviews and authority websites in the financial market.
Freelancing is another viable business opportunity that you may consider starting up during this COVID-19 pandemic. Instead of sitting at home idly, why not put that time to use and make money while doing so. Freelancing offers an immense opportunity for you to stay engaged instead of watching the clock, drags its hands slowly in repeated circles. One reason why freelancing is an excellent business opportunity during this coronavirus era is that it allows you to work from home. You can make money sitting from the comfort of your home while doing what you love and enjoy.
To invest in freelancing, these three things are necessary: firstly, you are to have a skill. What can you offer as a service that others would be willing to pay you in exchange for such a service? What do you enjoy doing that you feel capable of earning money without having to leave the comfort of your home? There are several highly demanded skills in the freelance world that you can offer.
If you are very good at writing, you may choose a niche and then provide your service. Some writing niches include fiction, content writing, blog post writing, scriptwriting, etc. you may also offer other services such as video editing, graphic design, web design, etc. If you are good at tutoring, you may provide tutoring classes on YouTube, Codecademy, or via your website or blog. There are several sites where you can offer your freelancing services, such as Upwork, freelancer, Fiverr, etc.
Fitness equipment start-ups and training
Since the lockdown was effected due to the coronavirus, many gym centers in different locations have been shut down. But staying at home means people still need to keep fit even without going to the gym. Yoga mats have been in high demand in many areas because people are now trying to set up their home gyms. Other types of fitness products have witnessed massive sales in recent months.
There are small tech-startups selling fitness equipment that can be connected to the internet. These services ensure that users can get recorded or live instruction from gym experts such as Ido Fishman Fit via the internet. Proprietary equipment with an internet connection can be designed to fit into a home gym room properly. As the coronavirus limits the movement of people, thus leading to the closure of fitness centers, you can be in business and make a good profit.
The coronavirus has drastically affected businesses and has deprived many of their sources of livelihood. Amid the storm, business owners and prospective entrepreneurs can still find their footing. If your business has experienced a downward slide, it may be time to find other lucrative business opportunities that is capable of reviving your pockets in this COVID-19 era. As we hope for the best and pray that this nightmare goes aware, we can remain financially stable by investing in any of the businesses mentioned above.