COVID-19 might have been a setback for the economy, but as we progress, it has also opened newer avenues. The pandemic caused people to take their existing businesses online and become innovative about how they reached their target customers. We have witnessed lots of people starting small businesses from the comfort of their homes, mostly online. The following few models are some of the businesses we have identified as lucrative businesses that one can start without much capital, and with following the safe social distancing protocol.

An Online Store

E-Commerce is the new way of shopping. If you already have a physical store, you can consider setting up an E-Commerce Website. An online store widens the horizons of your consumer base and extends the boundaries. It removes the limitations of a physical store and encourages your consumers to not only shop for what they need but also to indulge in impulsive purchases. When you sell online, you make it easier for your customers and you promote your business on a larger scale!

If you don’t already have a physical store, an online store could be a great business to start. It is a lot less complicated than starting a physical store and doesn’t require such a big investment. Since online shopping has grown so much lately, it could be a great business idea!

Dropshipping

If you do not have an already established business or capital to start one but want to enjoy the profit of an Online Store, you can consider the dropshipping model. The dropshipping model of e-commerce pertains to selling a third-party product to your customer without keeping Inventory! Simply put, you promote and sell the product, the order for which is fulfilled by the supplier and sent directly to the customer, whilst you enjoy a share from the profits! You don’t need to deal with shipping, storing, and inventory at all.

Freelancing

Freelancing has seen an exponential rise since the pandemic caused major lockdowns around the world. Businesses felt no point in paying permanent employees for doing remote work that could have been an outsourced task. From website development to writing services, Freelancing jobs have taken a hike. If you possess a skill that can be monetized, freelancing is a great way to move forward, and you get to be your own boss.

Be a Consultant

An extension of freelancing, Consultancy services can be extended if you have a high degree of expertise in a particular field or subject. Popularly required in areas like management, finance, marketing, designing, and many other fields, Consultancy is a B2B concern mostly. It requires you to get in touch with the business authorities, understand the nature of their problem or area of trouble, and provide them with a relevant, effective and efficient solution for it. This can be done from the comfort of your own home.

App and Website Development

Businesses are going digital. This means they either need a website, or an app, or even both! There is a huge incoming demand for digitization, and if you have the know-how, you can start your own business and make a profit from your skill.

Digital Marketing

With the need for Online selling and E-commerce stores arose the need to promote the businesses digitally. Print Advertisements and Banners have become a thing of the past. Social Media Marketing and Online Promotions are now gaining traction. If you know how to creatively capture attention and understand consumer psychology, you can start a digital marketing business of your own!

Online Teaching

Education has been digitized like never before. A decade ago, we wouldn’t have imagined kids sitting in front of their laptops, studying Science. A breakthrough in academics, it is now normal to learn not only your curriculum. You can also get knowledge from a wide range of topics of interest only in a matter of a few clicks. You can position yourself anywhere from online tutoring to creating your own online course. You can offer tutoring or teaching services in person or over zoom to people anywhere in the world, so you have access to a very large market.

Create and Sell COVID related items

Amidst the pandemic, the world also witnessed a paradigm change. Articles like Sanitiser and masks witnessed a massive growth in demand all around the world. It has changed us so much that we have combined masks into our daily ensemble and made them a part of our outfits. We have now seen how a mandatory item also became a part of fashion through sanitizer holders, color-coordinated and print masks, and mask holder accessories. If you have the talent to develop these. You can start a small brand and sell these online!

Cloud Kitchen

The pandemic restricted our access to our favorite restaurants or even the general idea of Eating Out. A Cloud Kitchen is built on the concept of “Only on Order for Delivery”. A cloud kitchen can be started from your kitchen, since it does not require fancy equipment, and you can take as many orders as you want.

Become an Influencer

If you can create relatable content and make people trust and follow you, consider becoming an Influencer. Influencer marketing is gaining momentum, as people are going digital. You might need time to establish your mark, and it takes time to get the first promotion. But once you get the traction, the offers will keep coming!