Coronavirus made it harder to think about starting a new business. However, even though the virus has hit the global markets quite strongly there are still many interesting niches to invest in.
Many angel investors believe that now is still a great time to fund a startup as apparently “disruption and opportunity go hand in hand”. Let’s quickly analyse what are good niches or areas to focus on and what to pay attention to when setting up a new business now.
As a blogger I will always encourage anyone to have a blog but only if one is particularly passionate about their hobby and want to share their knowledge about it with their community. That is exactly how Money Saving was born in May 2012…
Nonetheless blogging won’t earn you instant money as it requires some time to establish the blog and to get the audience before you see any benefits of your content posting or affiliate marketing promotions not to mention now some of affiliate revenue is also affected by COVID.
No matter what you decide to invest your money and time in, it’s good to know what to pay attention to before you pour a small investment into the business. So focus on the new business cash flow, your short and long term goals as well as relationships with your customers and suppliers if your business relies on them.
With that I am sharing with you 8 business business ideas which can thrive during coronavirus.
- Board games – there seem to be quite a few ideas shared already on Kickstarter so if you always wanted to develop yours now is probably the time..
- Rent your home space for an office– you can turn your flat or house normally rented on AirBnb into a short term office space for those who need to work in the ‘office settings’. If you have a huge nice house you can try to rent out that space for a photo shoot for an eCommerce company
- Become a virtual assistant – with so many emerging apps and technological nuances now its the time to teach people how to use the software/apps or simply help them with more of the tasks they may be forced to deal with due to limitations imposed by COVID.
- Become a Vlogger– have any expertise you want to share with a larger community? Get on YouTube and promote your ideas that way. After some time and decide subscribers amount you will be able to monetise your channel.
- Cook and deliver your dishes locally- advertise on the entrance to the local park and on local Facebook groups and in the local newspapers online.
- Sell handmade cosmetics (soaps, shampoos) and start selling them locally.
- Offer dog walking – this may be tricky with social distancing but not impossible. Many families struggle to find the time to walk their dogs if the parents work and have to home school their kids. As a result, they may still need your help, so a dog walking business maybe not a bad idea after all.
- Sell printables on Etsy
If you have any great ideas please leave them in the comments.