The pandemic has been extremely harsh for certain industries. A lot of companies had to lay off a huge section of their staff to cut down expenses and stay afloat. Many others were forced to completely shut shop and look for other avenues of income that are pandemic friendly.
At the same time, a lot of small businesses have emerged successful during this phase. There are tons of people who lost their jobs but utilized their time to develop a business plan and establish a start-up from their home.
If you too have lost your job or are looking for an additional source of income, here are 5 successful small business ideas that require low to medium investment and can be launched in the pandemic:
1. Become an online course creator
One of the most successful business ideas to have emerged in the pandemic is becoming an online course creator. If you are a Subject Matter Expert, there has never been a better time for you since the whole world is turning to virtual learning in this socially distanced environment.
Creating an online course requires very low investment. A tool like LMS WordPress is perfect for anyone who wants to create best-selling online courses. Not only is it extremely easy to use but has various themes available that make it a breeze to design the look of the eLearning course website.
2. Become an online tutor
Since students cannot attend schools, they are left with no other option but to learn through virtual classrooms. But there are several students who are interested in learning other things beyond the school/college syllabus. For instance, they may want to learn how to create an app.
Since young students don’t have to invest time travelling to school/college now, they have the time to invest into learning something new. This has made online tutoring very popular. This is an excellent business for those who are subject experts but don’t want to develop an online course.
3. Become a freelancer
A startup that helps you convert your passion into profits is exploring your side hustle or hobby. Are you an excellent baker? Or an articulate writer? Or maybe have a thing for making handmade stuff?
You can start freelancing in your area of interest with minimum investment. If you create handmade jewelry, you can start selling it online through an Instagram page or on Amazon.
4. Become a medical supplies manufacturer
The business owners that have made the most money in the pandemic are those manufacturing medical supplies. Masks, PPE kits, disposable gloves, etc have become a dire necessity against prevention from the novel Coronavirus.
You can set up a small production unit with a small budget and obtain the necessary licenses to produce these medical supplies. Not only is this a very fuss-free business once you have required permissions, but also something that will stay relevant even after the pandemic.
5. Become a digital marketing consultant
Since going outdoors is now a risk, shopping online has become a necessity. A lot of brands want to take advantage of this and wish to stand out from their competitors.
If you have the right experience, you can become an independent digital marketing consultant and offer clients social media marketing, SEO, content writing, paid advertising and consulting services.
Starting a business may feel like a huge step, but some risks must be taken to achieve success. Make sure you do a lot of research on the business you wish to invest in, and verify every expense that you make. Once you have decided what you want to do, stay optimistic and give it your best efforts.