Covid-19 has wreaked havoc all across the world, and not only its taking lives, but destroying businesses, crashing economies, and leaving people without any business opportunities. Started in early 2020 from China, the Covid-19 pandemic is one of the worst economic disasters this world has witnessed in the last 100 years. Except for a few tiny island nations, no country has been able to stop its tentacles from spreading.
However, there is hope.
And this hope is what sustains humanity and inspires us to think ahead and plan for the future. The entire global pharmaceutical industry is desperately working on launching a vaccine against this deadly virus and creating medicines that can treat it.
The good news is that several companies are in the final stage of launching a vaccine, and once this happens, then the pandemic will slowly but surely end.
Learn more about – 5 Useful Tips For Startups To Kick-Start Post-Pandemic
For an entrepreneur, every problem is an opportunity in disguise, and the same goes for Covid-19 as well. The smart entrepreneur knows that once Covid-19 ends, there will be a boom in business and consumer demand, as economies across the nation and the world will scramble hard to attain their pre-covid status in terms of prosperity, growth and demand. There will never be a shortage of Entrepreneurial Opportunities: Covid-19 may have slowed down the market, but it is bound to resurrect, sooner or later.
If you are searching for new business opportunities for a post-covid world, then here are 10 practical, and profitable ideas, which are entirely doable, based on market research and business experience of seasoned entrepreneurs.
Without much ado, here we dive in.
New Business Opportunities Post Covid-19 – Explore 10 Practical, and Profitable Ideas
1. Online Education or Ed-Tech
Ed-tech has suddenly become the buzzword everywhere, and there is a strong reason for that. Coronavirus has forced the closure of schools and colleges and other educational institutions, and suddenly there is a great demand for online education platforms.
And this demand will persist, even during the post-covid phase, because it will take some time for regular, offline classes and workshops to happen. But education cannot wait. Students, professionals, unemployed, entrepreneurs, teachers, professionals, experts, and anyone and everyone associated with the education industry will demand new, better platforms for carrying on their learnings and teachings.
If we talk about small business opportunities, then online education is one of the best options right now, as teachers and instructors can conduct their classes from home, and students can access them from home. No significant infrastructural expenditure is required, except for the technology behind it.
2. Health & Wellness
Now, health is something that no one can ignore, especially in the post-covid world. But due to the impact of the virus and lockdowns, people who need healthcare cannot often visit a hospital, and cannot spend more money.
And these two factors create excellent business opportunities in the post-covid world. If you have experience in the healthcare industry and have the expertise of feeling the pulse of the market, then there exist multiple future business opportunities in this sector.
All you need to do is connect the dots.
3. Financial Services
After education and health, finance is the most critical component right now, during and after Covid-19. Employees are losing jobs, getting salary cuts, businesses are closing down. This is the time when they need financial help, guidance and mentorship. And this presents an excellent opportunity to create a long-term business out of it.
The demand for short-term loans, and unsecured lending, for example, has shot up all across the world, and many more business models are coming up, around this demand.
Besides loans, more and more people are investing in the stock market, mutual funds and penny stocks, as a way to supplement their income. Combine this demand with the easy and cheap availability of the internet, and you get the perfect recipe for a new, exciting finance-based services business.
4. Remote Working Tools & SaaS
The demand for SaaS or Service As A Platform-based tools will increase in the post-covid world. As more and more employees and entrepreneurs will work from home, they will seek a feasible, affordable and online solution for most of their office/business work. There is already a great demand for SaaS-based remote working tools, remote attendance monitoring tools, remote productivity tools and more, which can help the employees and the management to carry on their work from home seamlessly.
All you need is a brilliant idea and a feasible concept.
5. E-commerce & Home Delivery
Since malls are closed, people are scared to go out for shopping, online shopping and home delivery have witnessed a massive jump. No doubt the e-commerce segment already has some of the biggest players, but there will always be a demand for niche players, who can understand a particular segment better.
The same goes with online delivery since more online orders mean more home deliveries. If anyone is looking for new small franchise business ideas, then e-commerce and home delivery can be good options.
6. Online & Mobile Gaming
Both the online and mobile gaming sectors have witnessed massive demand, due to the Covid-19 pandemic. A new, exciting game idea that can be played on mobile can help you create a new business vertical.
7. Online Entertainment
Cinemas are closed, and this has helped OTT platforms to reach out to new userbase, all over the world. Although launching a new OTT platform will be a mammoth task, but the interesting fact here is that the demand for entertainment won’t stop. If the focus is small business opportunities, then a content and entertainment business that can be streamed via Youtube or Facebook can be considered.
The USP, as usual, is the uniqueness and creativeness of the content.
8. Managed Workplace Solutions
Yes, we agree that real estate has taken a beating and is right now at its lowest ebb.
But soon, in a post-covid world, as things come back to normal, there will be demand for managed workplaces, co-working places. Since businesses are running low on capital, they will ditch their regular offices and select a co-working place for their employees. This can create a vast, massive demand for managed workplaces, especially in the metros.
9. Cloud Kitchens
As per a top executive from India’s one of the biggest food delivery apps, 40-50% of the restaurants will close down in the next few months, due to the Covid-19 impact. And the chances are meager that most of these closed restaurants will open, anytime soon.
But will people stop eating? No!
Cloud kitchens will be in much demand in the coming days since people won’t be going out to eat but will order online. And for online orders, Cloud Kitchens are the best source to cook and deliver food.
Learn more about – 5 Key Strategies To Build Cloud Kitchen Business in India
10. Self-Care Services
The Covid-19 impact is not only economic and physical but also psychological. Mental well-being and self-care services are already witnessing a big boom, not only from metros and small towns as well. Any self-care service which can provide motivational content, information about body and mind exercises, tips and tricks about healthy diets, mind management, etc can help a lot of users.
The Online Version of Existing Businesses
All existing businesses which are staying away from online now are the time to relook your strategy. You can adopt an online strategy for customer acquisition or product/service delivery or both. At first thought it may look difficult for you but approaching the right experts will be helpful to find out possibilities to take you online.
Learn more about – Why Is Digital Marketing Necessary For Small Businesses? How To Scale Your Business?
Not sure about these ideas and have more doubts and questions?
MSMEx offers a unique MSME business education platform for MSME and Small-business owners. You can connect with business mentors and seek more clarity related to profitable small business opportunities in the post-covid world.
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