The global pandemic has slowed business down across the economy. If you are like the many looking to enhance their income through extra sources, you do not need to wait for things to get better. There are some great business ideas you can put into motion even while the pandemic is in effect. Some of these are also great ideas for business during normal economic conditions. So, let’s run through the best ones and find the one that fits you perfectly:
5 Best Business Ventures During the Pandemic
Cloud Kitchen Franchise
Cloud kitchens have always been a popular offering in the west. They have gained a phenomenal reputation during the pandemic because of the massive rise in online food delivery demand. The great thing about cloud kitchens is that they have many models for the setup. The most popular among these is the FOCO model where the company operates the kitchen while investors pitch in. This gives the business a great chance to succeed since professionals are working it and investors are a peripheral party.
Food franchises also benefit from a low-investment requirement. So, you can get a kitchen going for a relatively modest capital. There are many factors that go into determining its success like location, cuisine, food quality, etc. However, the primary decider is usually the company that operates the franchise. If you can find a reliable franchise offering cloud kitchen investment options, this is a great place to pitch in money and gather dividends for little to no work. But choosing the right one makes all the difference so making an appropriate selection is all-important.
Online Delivery Services
Online delivery services are arguably the biggest market right now in the world. Because of the pandemic, people need their supplies and other products. Companies that can deliver these products are in high demand for this reason. Now, there are two ways to establish a delivery business. The first is a localized service that caters to specific individuals living nearby. Their personal needs are addressed by delivery agents who would deliver at specific times during the day. This is a relatively low-budget business but it can be highly profitable provided the local market is willing.
The second online delivery services module can be spread over a larger geographic area but also requires a proportionately higher capital investment. This kind of business should ideally only work through apps developed for the company. It can specialize in delivering certain supplies particularly specific ones catered to industries. For example, delivering potted plants from nurseries is a viable business that will last even after the pandemic is done. You can also opt for a smaller more manageable market like art supplies and related equipment. These are not at frequent as daily groceries but they will last even once the pandemic is done.
House Call Services
Aside from food, home essentials, and other supplies, people also need some key services for their homes. These can range from personal grooming and care like haircuts, massages to services that help them travel with specific requirements. Wheelchair-enabled vans and transport for persons who are unwell are often in high demand if they need medical attention frequently. Plus, in-call services are also popular among persons with special needs. This business is not just related to the pandemic and the services will still be in demand once it is over. So, this is a viable business segment to cater to.
House call services could also involve other business verticals like cleaning or maintenance. There is already a fair bit of competition in the market but this industry is still very young. Getting into it right now and providing valuable service will allow a business a strong chance of making a good reputation.
Online Tutoring Services
The pandemic has hit the education industry very hard since schools and tuition classes are suspended for the moment. However, technology is here to save the children’s future and smart learning apps have emerged to fill the need. This is a very rapidly growing market as teachers link up with online tutoring services providers to supplements their income. Considering the technology is growing rapidly as well, this market will be growing even faster after the pandemic is over.
Further, there are many levels of educational services you can offer. Aside from the K-12 segments, you can also offer educational programs, modules, and learning opportunities in higher education. This market is also very expansive and there is a lot of room to grow. So, investing in this business arena is a very good investment provided you have a reliable brand name and can make a good reputation quickly.
Remote Teamwork Services
With the pandemic grinding business to a halt in physical offices, remote working has become the norm. Considering the growth of technology and the likely longer-term precautions against pandemics, remote working may become a very viable choice for companies. Unlike the other services we have mentioned in this list, this is a completely IT-driven service. This means it will require a dedicated investment in a team of web and app developers. These teamwork-related services will likely grow over time so this is an ongoing market with a lot of potentials. Making strategic investments and catering to specific industries like eCommerce, litigation, logistics, and many others.
Is the Pandemic the Right Time to Begin a Business?
The COVID-19 pandemic has changed the world forever. New business ventures must consider the possibilities in a new light for all reasons and proceed accordingly. These 5 domains are some of the very few which have long-term viability even after the pandemic. Choosing the right one is subject to your specific areas of expertise and local market opportunities. Food franchises are among the easiest since they are very competitive and there is no shortage of demand. So, making a name for a franchise is actually very easy if the market and business are handled correctly. Get the best cloud kitchen franchise investment opportunities in India with The Rolling Plate.