COVID-19 has not only halted our lives and our economy but also disrupted how we work and how we live. Various businesses have suffered during the pandemic which also put a stop to new emerging business ideas due to its overall negative impact. The following article lists a few promising and profitable business ideas after lockdown that anyone can start easily during this challenging time.
Here are a few things to keep in mind before you choose to start a business.
- The first thing to keep in mind is consumer demand. The demand and the supply, especially of necessities, drive the economy and new businesses.
- Technology-related and online job opportunities are expanding and are a promising business model. Technology must be prioritized as a critical part of the new business ideas after lockdown.
- You can consider some small business ideas after lockdown in finance, education, crafts, food, manufacturing, banking, and designing.
Business Ideas After A Lockdown In India
Here are 10 popular businesses that anyone can start and which have potential and profitability:
1. E-Learning Platforms
The need for online education during this pandemic has created various opportunities to launch new businesses. eLearning today is one of the world's fastest-growing industries and the best business idea in lockdown.
It is a learning method where the teacher and student meet in an online classroom. An eLearning company develops an educational platform. You can start an eLearning business with little money. Apart from hosting a website, there is no other heavy expense. With the huge demand for online teachers and courses, the profit is more than the risk.
You can approach it in 2 ways: Synchronous and Asynchronous
Synchronous distant learning is in which the teacher and the student communicate from their locations at the same time. It’s like a traditional school environment, and the only difference is nobody is present in person. Everyone participates in an online lesson using their laptops and mobiles with Zoom, Teams, Skype, etc.
You can teach a course on any subject you are educated about, regardless of your location. You can attempt giving online tuitions on academic subjects (Math, English, EVS, management, economics, history, etc.) or teach a foreign language or provide software training. This is a wonderful chance to generate money by sharing your ideas and skills.
Asynchronous eLearning is where instructors construct a platform to submit teaching resources such as audio and video files, blogs, PDF books, etc. Students can download these materials if they have memberships to the website. Many sites issue certificates upon satisfactory completion of a course. Students can complete the course at their convenience and communicate with their instructors via email or discussion boards.
2. Consulting Firm
Starting a consultant business can be a good option if you are knowledgeable and passionate about business, marketing, social media, human resources, finance, leadership, communication, etc. This is a profitable and fulfilling business. You can begin as an independent consultant in logistics, human resources, small business counselling, internet strategies, accounting, legal, and many other fields. You can also work as an organizational consultant for small and medium-sized businesses.
Companies of all sizes are migrating to digitization and automation to prevent disruption and make the best use of their limited resources. They require someone to lead them through this changeover process, and this is where a consulting firm comes in.
You can start your consulting business on your own, then expand and recruit other consultants as your firm grows.
Dropshipping is a method that allows businesses to open an online store and sell products to customers without ever having to stock the things themselves. It removes the challenge of maintaining an inventory and is one of the low-investment lockdown business ideas.
It is an e-commerce business model in which no physical products are managed. All you need to do is create an online store and collaborate with suppliers ready to store, package, and ship orders to your customers. There is no investment for holding an inventory.
4. Digital Marketing Agency
Lockdowns have significantly increased the use of social media, creating job prospects in the Digital Marketing industry. With many companies shifting their operations online, digital marketing and advertising firms have got a lot of business and will continue to do so.
Most small and medium businesses lack the capacity to do digital marketing themselves, so digital marketing agencies are in high demand. It is a low-investment business. You only need an Internet connection, a few software subscriptions, and a website. You can do it through blogs, tweets, photos, or even podcasts; content is an important aspect of digital marketing. Everything else, like office space, personnel, and so on, can be added later as the firm grows.
5. Art and Craft business
Do you want to be able to express yourself creatively while earning money? Why not start a craft business? With the Internet, the possibilities for selling your crafts appear to be unlimited. However, if you intend to develop this into a business, you'll need to establish an online presence.
Artists have plenty of time to display their ability through paintings or other forms of art and crafts. Artists are well-equipped with the necessary materials and only need to show a virtual display online to sell the artwork and deliver it to the customer's address. Virtual art exhibitions can be held to establish a presence in the target market. If painters have enough space to display their paintings, they might organize an event to showcase their work.
6. Print on Demand
Try print on demand if you're looking for a business after lockdown. It is a digital business in which a person with graphic design skills can sell their original designs on goods such as phone covers, mugs, rugs, t-shirts, etc. but do not print the artwork. Instead, you work with vendors who will print your design on the product and package and transport it to your clients, so you don't have to bother about logistics. You are paid only when the things are sold. One of the simplest methods to get started is to set up a Shopify store and install a POD program such as Printify. For marketing, collaborating with Instagram influencers to promote your POD items is an efficient approach to reach out to a wider audience.
The start-up costs are low, and it allows you to earn passive income from home. It sure is a great business idea.
One of the most effective online business ideas is blogging. You can show your expertise in this area by providing unique knowledge. All you need is a domain name and web hosting. To make money online with a blog, you must first acquire a significant number of visitors. Then, you can make money by doing direct advertising or by using Google Adsense.
Vlogging comprises creating a video on a range of themes and posting it online. To begin, upload videos to YouTube and embed them in your vlog. You can create enjoyable and amusing videos and post them on YouTube. They can be in dance and other arts, designing, gardening and agriculture, cooking, and much more. Many people choose the YouTube channel partner program and have begun using the platform to earn a steady income.
8. Selling Healthcare products
Since the series of lockdowns began, small-scale or hand-made masks and hand sanitisers have skyrocketed to fulfil the increasing demand for these healthcare items. Rather than closing their current activities during the lockdown, several manufacturers, small company owners and self-employed technicians have looked into hand sanitiser and face mask production. This has been the best business idea during lockdown with huge profits.
If you are looking to get into the healthcare industry, now is the time to invest and expand; however, if you cannot manufacture healthcare supplies and equipment on your own, contact merchants, distributors, and other vendors.
9. Food Services
Because of the COVID-19 outbreak, there has been an increase in demand for food delivery services. Consumers are now getting food delivered at their doorsteps during the days of social distancing because dine-in is no longer an option. Ordering meals online has become an easy procedure thanks to online platforms such as Zomato and Swiggy. A lot of start-up firms are also providing food delivery services. As a result, after the lockdown, creating a food delivery service is a good business idea.
Many people have made a career out of their passion for cooking, and there is a high demand in the market for healthy, nutritional food that will satisfy their taste buds.
You can also start your business by opening a kitchen that serves popular or requested cuisine in your neighbourhood. The initial investment required is small and includes buying raw ingredients, hiring experienced and professional staff such as a chef, helpers, etc.
10. On-demand Cleaning Services
It should come as no surprise that professional cleaning services for offices, homes, and restaurants are in high demand as coronavirus fears expand over the world.
People are increasingly worried about sanitation and health. Starting a cleaning service through an app is a win-win situation for both businesses and clients. With more customers asking for cleaning and disinfection services, an app gives a relatively easy way to interact with and buy from service providers.
You can come up with many small business ideas after lockdown. Begin by creating a one-page business plan which includes: the service, how you will price it, and your marketing strategy. These suggestions will help you minimise people's hardships while also bringing in a small amount of money. Any business's future will be determined by how well you can sell your new venture to a position where it can succeed.
The next decade will be all about welcoming innovative ideas while providing users with the niche they desire. A simple business, such as creating and selling masks, can have layers of innovation ranging from the materials utilized to the design. Your small business start-up can succeed if you can predict future opportunities better and prepare for unforeseen changes when they occur.