Are you looking for a profitable and creative business idea to start a sustainable income stream in 2021? Luckily, entrepreneurship is on the rise again after the sharp decline stirred by the pandemic. The coronavirus outbreak halted economic activity worldwide, and millions lost their jobs, livelihoods, and businesses.
After over a year of living in the pandemic, the spirit of entrepreneurship and creativity is rising again. Most of the small business ideas gaining traction in 2021 revolve around digital business models. However, aspiring entrepreneurs should pursue business ideas relevant to their professional training, talent, and passions. Keep reading to explore some creative ideas to start a small business during the pandemic.
Consultation businesses are swiftly on the rise because the pandemic has created an environment of fear and uncertainty. Everything is changing and transforming in the quest to adapt to the changes triggered by the pandemic. Business activities, processes, and paradigms have changed, and people have to deal with uncertainty.
It’s natural for people to seek experts for advice and consultation. You can carve out a consultancy business by tapping into your core strengths, academic training, and professional experience. Starting a consultancy business is highly lucrative as it doesn’t involve retailing, manufacturing, or warehousing expenses. You don’t have to manage any supply chains or employees. It all boils down to your talent and expertise and how effectively you can market it to gain clients. You can start a digital marketing and social media consultancy service that targets small businesses. You can market your on-page and off page SEO consultation services to startup owners with the lure to reduce their marketing spending.
You can also focus on legal consultation, insurance-related assistance, communication, human resource, and other domains. It’s wise to tap into your core strengths and experience and your academic training to build a solid reputation.
Online Reselling Business
Before the pandemic, shopping at the mall was an essential ritual with cultural and traditional significance in our lives. Millions mistrusted online shopping and preferred to feel the fabric and enjoy the experience of shopping in a chic store. But the pandemic gripped us with the fear of an invisible enemy, and we stopped going outdoors.
What’s more, we don’t want to bring in unnecessary shopping bags and products that may carry the virus inside our homes. In 2021, consumers prefer online shopping, and they want contact-free deliveries to maintain safety and hygiene. So, there’s growing potential to start an online resell business.
It’s wise to resell products as opposed to manufacturing them, even on a small scale. Online reselling is a raging trend, and you can entice local customers with foreign products to collect handsome profits. Many sellers target social media, particularly Facebook and Instagram, to resell products from Poshmark and Bloomingdale’s.
You can also sell off your pre-loved clothing because people buy thrift clothing to save money and avoid overspending. Gradually, you can expand your online resale business by selling items from multiple brands and developing your shipping infrastructure.
Teaching, Training & Workshops
Digital education is rapidly emerging as a popular service, supported by the raging trend of eLearning and training programs. Consumers are increasingly looking to acquire skills that can help them start earning without delay. This demand has opened up a wealth of opportunities for entrepreneurs who can offer valuable educational products.
There’s a growing demand for online education, training, courses, and workshops that teach actionable skills. Entrepreneurs can tap into college and graduate students who need personalized teaching assistance and one-to-one sessions. You can also offer training and seminars to teach marketable skills, such as digital marketing, content marketing, and video SEO.
The market for online language classes also opens up lucrative opportunities for multilingual professionals. International students and aspiring professionals are always willing to pay for language courses and classes.
Online Food Delivery
The pandemic has made us increasingly conscious of our diets, eating habits, and food choices. Consumers are increasingly thoughtful and mindful while choosing restaurants, and there’s a growing preference for organic and home-based food. Industry observers have noticed a striking growth in the online market for food retailing and delivery services.
This growth opens up a world of opportunities and possibilities for passionate culinary artists. Starting a restaurant may not seem feasible, but you can create your home-based kitchen to build your brand. You can partner up with numerous food delivery services to cater to local customers. Online infrastructure and a small kitchen will make the venture feasible with lesser operational costs. You won’t have to spend on rentals, equipment, and human resources with a home-based kitchen. Your expenses will include marketing and promotion, delivery services, food preparation, and packaging. It’s a terrific idea for a small business that will help you test the waters and build an audience before opening a restaurant.
Starting a business comes with numerous risks, but these risks shouldn’t deter you from taking the plunge! The right business idea is grounded in your core passions, strengths, and academic inclination.
If you enjoy creating decorative cakes, find a way to turn that passion into a profitable entity. If you adore home improvement, start a consultation service to help people become more organized and disciplined. It’s crucial to approach business ideas with extensive research, feasibility analysis, and meticulous planning. The right business idea will inspire creativity and tap into your core strengths as a problem-solver, innovator, and critical analyst. Entrepreneurs need to combine research with intuition to make well-informed decisions.