The coronavirus pandemic left 20 million Americans unemployed, leaving people scrambling to find other sources of income. And many are considering opening their own small business.
But starting your own business is a daunting and risky feat, and aspiring entrepreneurs fear the potential fallout. Luckily, the pandemic has caused changes in consumer behavior that have resulted in lucrative business opportunities. And some industries are uniquely profiting from the coronavirus. First-time entrepreneurs can bank on these market segments to achieve their dreams of successful business ownership.
Plus, many financial institutions are offering unsecured business loans for startup owners, allowing you to finance your business without collateral.
Below Are Some of the Top Low-Investment, Pandemic-Friendly Business Ideas for Aspiring Entrepreneurs:
1. Health & Fitness
The global health crisis forced people to be more conscious of their well-being. Many have started eating more healthily and working out to help their bodies fight off the virus.
The health and fitness market is expansive, presenting a wealth of business opportunities. You can enter the market by offering exclusive workout programs online, healthy meals and snacks, and even reselling athletic apparel. Choose one that aligns with your skills and knowledge so you won’t have to learn the ropes of the trade once you start.
2. Home Gardening
Quarantined to their homes, homeowners and renters turned their attention to their houses, which led to a spike in gardening activities. Home gardening saw a massive surge across the globe during lockdowns, with seed sales jumping worldwide.
This sales boom is due to three reasons:
- Food insecurity has prompted people to plant vegetable gardens to increase their food supply.
- People prefer organic food items more now than ever. It’s easier and more affordable to grow their own fruits and vegetables than look for produce suppliers.
- Gardening helps reduce stress and anxiety levels, which are higher now because of uncertainties and feelings of isolation caused by the pandemic.
You can enter this market by reselling seed packets, indoor plants, aesthetically pleasing pots, and other gardening accessories. With a few horticultural skills, you can also propagate your own plants to increase your revenues.
3. Meal Kits & Food Delivery
Food is always a good industry to join because people always need food. It all comes down to how well you market your brand and the quality of your products.
This market is incredibly lucrative during the pandemic since many still don’t feel comfortable going out to buy food and groceries. If you’re selling food, address buyers’ safety concerns by offering pick-up and delivery services.
You can join both the food and health/wellness industries at the same time by offering meal kit delivery services. Pre-portioned, ready-to-cook fresh ingredients satisfy consumers’ demand for healthy yet convenient food products.
4. Online Tutoring
When schools reopened last September, many included online learning in their curriculum. Distance learning is a challenge even for parents since they have to make sure that their kids follow the lessons and submit assignments on time. With household chores and professional duties to take care of as well, online classes add to parents’ daily responsibilities and time-commitments.
This problem created a massive demand for online tutoring for elementary students, a not-so-large market before the pandemic. You can offer one-on-one or small group tutoring services on various subjects for different levels.
One of the best things about being an online tutor is that it requires a small capital. All you need is a stable internet connection and a reliable laptop or desktop computer, and you can already start earning from teaching.
Jumpstart Your Business with Probably
Starting a business amid a pandemic is possible. Analyze the current demands in the market and figure out how you can provide that need by using your skills and knowledge. If you need assistance with financing, research first-time business loans that can help you jumpstart your business, like Probably’s many financing options.
Probably gives small businesses the financial support they need through startup loans and small business loans. We know how frustrating and time-consuming it is to apply for a bank loan only to get rejected in the end. This is why Probably helps aspiring entrepreneurs overcome these challenges through financing options that work for startups, expansions, and small businesses alike.