By: Trevor Scott
The economy has struggled to rebound from this difficult year. Here are some business ideas to make some extra cash or jump start your small business.
Look for business ideas that are boosted by the current situation
It may be too late to jump in on some obvious new business ventures. Case in point: There are many distilleries and breweries that switched to making hand sanitizer that are stuck with gallons of unsold inventory and the market for boutique masks is flooded and competitive.
Still, there are lots of businesses that have plenty of growth potential:
As more states move toward reopening their economies, there has been increased demand for janitorial services to carry out cleaning of commercial spaces reopening after prolonged closures. The COVID-19 pandemic has caused businesses to rethink their cleaning strategies. Sanitizing surfaces has become more of a priority and businesses are looking to implement rigorous daily cleaning regimens to ensure the continued safety of customers and employees.
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Traditional educational institutions are in demand. That means that educational opportunities offered online are exploding. Additionally, the pandemic has also reignited interest in what are known as massive open online courses or MOOCs and webinars. Millions of people around the world use MOOCs to learn for a variety of reasons such as career development, changing careers, college prep, supplemental learning, lifelong learning, corporate eLearning and management and technical training.
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Before we had to contend with the pandemic, immersive games, VR, dating apps and even giant gaming communities for fans like Twitch were trending upward. If you have an entertaining app idea or you are looking to join the exploding world of online gaming and advertising to online gamers, there’s still room for you to explore this market.
PHARMACEUTICAL AND MEDICAL DEVICES.
COVID-19 put this industry in the spotlight! Combine the pandemic with an aging population and the opportunities abound for you to start a medical supply or in-home care business.
2020 has put virtual healthcare front and center. In fact, it’s expected to reach $3.44 billion by 2027.
The outbreak has without question disrupted the supply chain. As such, there might be an opportunity for you to help solve this problem.
Innovations like automatic sanitizers to voice-activated have technologies have become increasingly popular in order to prevent the spread of germs.
For years, we’ve been promised contactless payments like Apple Pay and digital wallets. Besides the flexibility and convenience, they don’t contain germs like dollar bills and coins. Websites like Venmo have made paying for goods and services and even splitting the bill with friends a regular part of life. Are there still opportunities to be had in this sector? The sky is the limit for savvy web and app designers.
Parents are in a tough spot right now. They must go to work but, with schools closed, their children may still be home. That’s where you can come in and offer childcare services. You could convert your home into a daycare. If you decide to do this, make sure that you first obtain the proper insurance and license.