The past year has been challenging for us all. The pandemic forced you to stay home and away from other people, but things are looking up. Markets have already reopened, and trade is being restored to normal. But it will still take plenty of time for them to get back on track entirely. And even when they do, some of COVID’s economic impacts will be long-term, if not permanent.
So what do you do with these changed economic conditions and uncertainty? You adapt. That’s what we did for all of 2020, and it’s time you do it in your profession too. Now that the lockdown is over and the economy has started gaining momentum, you must think innovatively to establish a successful business that will be unaffected by the market’s uncertainty. But don’t think too hard, because we have done that for you already.
Business Ideas After Lockdown
Here is a list that talks about all the most profitable business ideas after lockdown.
- Online Self-Care And Self-Development Classes
- Personal Protective Equipment
- Consulting Firms And Business Development Firms
- At-Home Service Providers
1. Online Self-Care And Self-Development Classes
The pandemic has permanently changed how people view fitness. Gone are the days when self-care only meant going to the gym. During the pandemic, people have started valuing mental wellness too. This is the right time to cash in on this changed perspective on mental health and begin guiding people. The best part? You can do it online.
You can start classes on mindfulness, self-care, professional skill-development, soft-skill development, and self-love. The pandemic saw us all quarantined at home, which took a toll on people’s emotional well-being. This meant that motivational courses and classes, for the first time, carved out space for themselves. Self-development and professional development, soft skills, and corporate training saw a boom as well. Leadership, time management, and communication, among other skills, have all seen students flocking to learn.
Highlights of this business:
- This is a low to no capital venture.
- You only need expertise in one area of self-care or self-development.
- These classes are currently in high demand due to the emotional toll that the pandemic has taken.
How to start an online class
- Begin by researching. Find out the different types of classes offered online and what the market is like for these.
- Decide your format – uploaded video lectures or live classes via video calling apps.
- Consider starting small with platforms like Udemy and Skillshare if you plan to just upload, or consider building your own website for more independence.
- Marketing is the final step; make sure people know you and what you plan to teach.
- Decide on the syllabus beforehand.
2. Personal Protective Equipment
We are all still a little cautious and need something to protect us and give us that sense of security. We are not talking about PPE kits. They may be the best protection out there but ultimately are over-kill when walking on the streets. We are talking about masks, gloves, and sanitizers. The pandemic has opened our eyes to what can happen when we are caught unawares by a virus. The cops no longer stop you for not wearing a mask, and yet most people still wear one. It has become a habit, much like wearing slippers. So yes, masks, gloves, and sanitizers are here to stay.
Masks have even made it to Paris runways. Perhaps pretty gloves and masks with gorgeous designs and rhinestones will be the next new fashion trend, we don’t know. But for a lot of people, they will be a part of everyday life.
- This is a low to medium-cost venture, but loans are easy to secure to back this idea due to the high demand.
- You might not even need a big army of employees in the beginning. This venture can be small and requires low investment.
How to start a mask or glove-making business?
1. Begin with the designing process. Look online at the different designs of masks, and research about the material and machinery requirements.
2. Consider the materials required; cotton masks are the easiest to make since cotton is easy to secure. N95 filters for filter masks and non-woven material for surgical masks are also wonderful options.
3. Look into buying sewing machinery and hiring workers to sew.
4. Distribution can be managed through an online portal, through most pharmacies, grocery stores, and in the case of fancy masks, boutiques as well.
3. Consulting Firms And Business Development Firms
The pandemic pretty much crippled the economy. Businesses shut down, and jobs were lost. After the lockdown, as the economy opens up, startups will start popping back up. A lot of the businesses that closed down will begin to hobble to run. There will be a sudden eruption of new companies and resurfacing of the old ones. Maybe over a year or two, large numbers of businesses and people will try to capture the market, causing immense competition.
This could be a great business opportunity for anyone with a creative mind who loves a challenge. Start small by selling just your expertise; it doesn’t matter what business consulting area you’re good at, there will be someone looking.
- Old businesspeople who once had a large turnover will return to recover lost footing. New businesses will try to take advantage of the lost ground. So, they will all look for consultation and guidance.
- This business idea is mostly-risk free.
How to start a business development firm?
1. Make a list of skills and services that you wish to offer.
2. Market research is the key; understanding what skills and services are in demand, as well as the types of businesses looking out for them, will help you build your brand.
3. First, start with freelancers and have a list of names and numbers ready so when you land a client, you will immediately provide the service. You can later hire people on a payroll basis.
4. Market your business idea via social media and consider approaching up-and-coming businesses, to let them know about your company.
This can mean both – the transport of people and fare. Cabs are, after all, a lot safer than buses. They are easier to sanitize and do not carry large numbers of people. It is easy to ensure that the drivers are COVID-free. This is why starting a cab-ride business like Ola or Uber in your city can be a good idea in current times.
You can start working with a small fleet and later keep expanding. An added feature can be to assure your potential clients that the former clients that rode the cab were also COVID-free. You can use the same temperature check method currently used in every mall, store, and shop as things stand.
Delivery of goods and packages is another transport-related business. People today prefer to pay the extra dime than face the crowds at the supermarket. The job of grocery buyers and delivery execs is not necessarily new. Still, it is now more popular than ever before. Transporting anything from food, documents to forgotten glasses, as long as you have a car and a willingness to drive all day or hire people who will, is a sustainable business model.
- This can be a low-cost or large-cost venture depending on whether you tie-up with drivers with cars or buy your own.
- Once started, this business is self-sustaining.
How to start a transport business?
1. You will first need to find investors – this is a lucrative business, but it does need cars. Alternatively, consider hiring persons that already own cars.
2. Approach taxis and rickshaws for tie-ups
3. Have an app and website through which people can book your services.
4. Market your business via social media
5. At-Home Service Providers
Avoiding public spaces is the new norm. Does this mean we no longer need to get a haircut? No, it doesn’t. People no longer go to the beauty parlor, but they call their beautician home. Similarly, people get their homes cleaned, or their ACs serviced.
Providing service providers that have tested negative on a COVID test can be the catch-all tagline. Consider this business venture for healthy revenue in the current market. It is simple and cost-effective if you hire people on a freelance basis. The criterion here will be simple, people with expertise who are comfortable with regular testing and understand the safety rules will form your team.
- This is a no to high-cost business, depending on whether you have to buy equipment or just build an app.
- These services can include grooming, pet grooming, pet care, cooking, cleaning, tutoring, coaching, etc.
- You need people skills as well as employees who have people skills as this job will involve active interaction with clients.
How to start an at-home service providing business?
- Decide on the services you want to provide.
- Approach professionals that have the know-how and experience you want.
- Set safety rules and training, if required, for these service providers.
- Build an app that allows people to book your services.
Although we have listed five, as long as you keep in mind social attitudes, you can probably come up with another 10. You want to provide a service that either makes everyday things safer or a service that makes other businesses grow. No matter what business idea you have for after lockdown, be as innovative and consistent in your efforts as possible, and you’ll soon see significant revenue.