7 Startup Business Ideas That Could Work In Post Covid Scenario
The COVID-19 outbreak has disrupted the global economy on a massive scale with heavy job shedding, closure of many small local businesses, and the collapse of various economic activities due to nation-wide lockdowns at a global level.
While many were waiting for things to normalize, few people saw it as an opportunity to innovate and come up with various low-cost startup business ideas to capitalize on people’s need of the hour.
Even though there still remains apprehension about the market not returning back to normal for some time, these low-cost business ideas are becoming more popular and are being seen as potential future business models.
On that note, let’s talk about some of the online service-based business ideas that require a minimum investment and can help you generate a stable income in the Post-Covid scenario.
Online Tuition Services
The education sector has been one of the worst-hit sectors due to the Covid-19 pandemic. According to UNESCO, around 1.5 billion students worldwide were affected in the year 2020 due to the closure of various educational institutions.
As per experts, around 1 billion students across the globe are still suffering from a lack of proper academic education due to closed schools, colleges, and universities. And even though a wide majority of institutions have started conducting online classes, students are still struggling to adapt.
This has given rise to a huge demand for personal online tutoring services. If you have expertise in any subject or field and like to teach, then imparting knowledge to students through personal live classes is a great avenue. All you need is a laptop or smartphone device and an internet connection to kickstart the process.
Freelance Services Platform
In the recent past, multiple platforms have offered an interface that connects skilled and able freelancers with employers.
The work from home or virtual office culture is here to stay even after the pandemic is over. Many individuals, especially in digital media, have started preferring freelancing gigs over nine to five jobs as they offer more flexibility, freedom to choose clients, and a manageable workload.
With that said, setting up an online freelance service platform where skilled individuals from different specializations can connect with clients, would be a great business idea.
Collaborating with experts or practitioners in any field such as finance, law, medicine, and fitness and allowing them to offer online consultation seems like a feasible choice as well.
From a consumer’s standpoint, online consultancy portals provide a pathway to expand the reach and interact virtually with industry experts from the comfort of your home. With a plethora of options for every particular domain available in the market, the value for expert advice is only growing over time.
Due to the nationwide lockdown in many countries, the retail sector endured one of the biggest jolts. However, it was E-commerce that came to the rescue and helped most of the brick-and-mortar retail stores around the world to stay afloat during this difficult time.
People developed a habit of ordering things online instead of visiting retail stores because of the nation-wide lockdown or from fear of catching the virus. This e-commerce shopping habit developed during the pandemic is likely to continue for years to come.
There exist a large portion of the retail population who intend on selling grocery, medicine, apparel products and want to open a store but don’t have the budget to do so. In that case, the most favored business idea is to launch and optimize your online retail store on e-commerce platforms.
This has many benefits ranging from minimum investment, real-time dispute resolution, optimized business operations, and last but not least, an expanded consumer base.
As mentioned above, it is apparent that the world is opting for online shopping services. And many companies operating in the home delivery business are making tons of profits every year.
You can easily tap into the local delivery market dealing with miscellaneous commodities by opening your own local delivery business. You can list the product categories in which you intend to offer delivery services, use a functional geolocation app and hire some delivery boys to get the ball rolling. This could be an interesting avenue worth pursuing, considering the widespread buzz about home delivery solutions.
Content Creation on Social Media
For most people in this highly digitized world, social media platforms are where they can interact and connect virtually with others. It also helps them stay updated on current events around the world. However, the power of social media can also be leveraged to forge a lucrative source of regular income.
To put things into perspective, influencers having a heavy follower base on platforms like Instagram, Facebook, and Youtube charge considerable amounts for brand collaborations and PR gigs.
As a budding startup, you can build a team of creative content creators that understand the pulse of the online audience and run numerous campaigns around topical content. Milking the latest trends and virality of the internet can result in sponsorship deals and endorsements from major brands who are willing to carve out an online presence.
Online Rental Marketplace
Connecting seekers and suppliers is a common exercise that requires an efficient middleman. Moreover, the rental market remains a relatively less competitive zone, with considerable promise for the future.
Even though traditional rentals rely on offline transactions, the pandemic has actuated a digital shift to the point where almost every business is being conducted online. There are a variety of options that you can choose from and explore multiple possibilities.
To begin with, some of the common rental marketplace ideas include property, furniture, parking space, books, and apparel rental.
We have all undergone some degree of hardships in one or the other form during the pandemic. However, going digital and staying positive will be your keys to adapting to the post-COVID world.
From writing your first line of code to learning how to start a bitcoin exchange site, the internet holds doorways to almost any interest and field. And given the time and effort, you can start by choosing any of the aforementioned business ideas and build a full-blown company in no time.