There’s no denying that COVID-19 took lives and livelihood. Only people who can work from home on their laptops can maintain a good lifestyle while local businesses suffered a lot. Several small shops and local businesses went under during the COVID-19 outbreak.
But now, since things are looking up, it’s time you build yourself back up. As they say, every cloud has a silver lining, and you must find that silver lining. If you look closely, the pandemic brought some new opportunities as well. One example is the health and fitness industry. While going away, the virus put a focus on it as people became increasingly health-conscious.
How can you benefit from this? For instance, you can start your own workout channel that focuses on people’s fitness. Or perhaps you can run a smoothie shop franchise that provides healthy beverages. According to statistics, the health and wellness food market may reach 811.82 billion US dollars this year itself. Eating healthy is all the rage, and even top food businesses are adding healthier options to their regular menu.
Low-cost Business Ideas You Can Explore
Social Media Services
As most businesses turn to social media to appeal to young buyers, the demand for social media services rises. Social Media management is a huge umbrella term containing many small services underneath. It doesn’t take much effort to learn these services. All you have to do is search for them on the internet. After which, you can charge $15 to $50 per hour, and it’s just in the beginning as you can increase your charges with every brand and influencer you work with.
The social media management market is worth $14.4 billion and is estimated to reach $41.6 billion by 2026. If you manage to master these skills, there’s no telling how much you can earn. Brands, Businesses, Coaches, and educators need people who can look after their social media and help them grow. The ROI on this is the highest.
Online Reselling
An online reseller purchases products from manufacturers or wholesalers and sells them directly to customers. Reselling clothes online is highly profitable. As a reseller, you can buy products from sites like Alibaba and eBay and sell them online. Start with one kind of product and then add more that go well with the initial one and sell them as a package.
It’s a viable option if you don’t have the resources to produce your own product. The playing field is open as you can dabble with numerous products. It’s easy to establish as all you need is a website, blog, or social media page. Once you are done with that, you can list your products and be open for business.
Consulting Services
If there’s a business sector you have expertise in, you can start providing consultations for that. If you’ve worked in a sector long enough, you acquire knowledge about methods that work or work. You understand the knits and grits of that profession which may help beginners.
Consulting services can be focused on online business strategy, analytics, finance, marketing, or sustainability. This requires close to zero dollars spent in investment. The trick here is to market yourself as an expert in your field. Another prerequisite has thorough knowledge and ideas that actually solve problems.
A consultant can charge $100 per hour, depending on the niche, experience, and results. Marketing consultants especially earn a lot of money as compared to other fields as they drive results.
Online Education
Due to COVID-19, educational institutions shifted online. Schools, colleges, and universities resorted to online classes to keep the learning going. In this scenario, people who were already teaching online benefited a lot. Established YouTube channels with education as their niche gained thousands of subscribers as schools couldn’t provide an instant alternative to regular classes.
You can also provide online classes on any subject of your preference. The e-learning market in the USA is estimated to grow to around $660 billion between 2020 and 2024. Even in the corporate sector, 98% of companies have incorporated online learning programs to grow employees.
Custom T-shirt and shoes designing
Designing a t-shirt and shoes is a good business idea for anybody with good painting skills. In terms of investment, it requires some plain t-shirts on which you paint, preferably black or white. You’ll need to buy colors too.
As far as shoes are concerned, people send them in to customize. It can turn profitable enough if you keep marketing yourself consistently on social media. Youngsters on social media are always flaunting their customized shoes. You can ask them to tag you, and that’s how you grow. You can easily earn $19 per hour if you get good at it.
The pandemic doesn’t have to stop you from earning during a crisis. Learn what you can do amid tough times so that you can continue to survive and thrive.
