Watching the global economic devastation has been heartbreaking.
While companies like Amazon report record profits, small businesses across the country have had to shutter their doors, lay off employees, and potentially close forever. All because they are deemed “non-essential” by the U.S. government.
If you’re starting over, looking to start something new, or you just want to recession-proof your future earnings, we’ve compiled a list of 7 business ideas that anyone can start.
These businesses don’t require a large investment, and you can even do them on the side while you work at your regular job or enjoy retirement.
- Cleaning Service
Everyone is obsessed with germs and avoiding viruses now, and we don’t expect that mindset to change any time soon.
But don’t worry, you don’t have to get on your hands and knees and start scrubbing. Instead, you could vet and hire people skilled in the art of cleaning and send them on jobs.
If you want to increase your margins, consider going commercial. Businesses that are open have upped their cleaning routines, often doing deep cleans multiple times per day. And when the previously closed businesses are allowed to reopen, you can bet that they’re going to be extra vigilant about cleaning, too.
- Freelance Copywriting
Do you love to write, but you don’t have an audience?
You could write for other companies that are in a niche where you’re passionate or knowledgeable.
One of the best ways to find writing gigs is to go to companies or blogs that you like and think of ways to contribute to them. Reach out to their marketing or HR team and inquire whether they need any content help. If you have an existing portfolio, that will help get you through the door faster.
- Food Truck
With restaurants closed in many parts of the nation and several governors announcing a plan that will restrict how they operate, the food truck business is primed to have another period of epic growth.
By taking your restaurant on the road, you can keep your overhead low, cater to people that don’t feel comfortable sitting in restaurants, and you could even add delivery to your list of services!
- Make Masks
We have a feeling that masks are going to be a part of the “new normal” for quite a while. Despite a 2015 research paper in the British Journal of Medicine cautioning against the use of homemade masks because they’re not very helpful in preventing disease and can even contribute to its spread, government, the media, and businesses like Costco are mandating their use.
Scientists have come forward and said that masks should be cycled and washed daily, indicating that it’s prudent to have a stockpile of masks on hand. With fashion designers selling their masks at a premium, often for prices ranging from $10 to $60, the profit margin on this accessory is bound to be high.
- E-commerce
Online shopping is at an all-time high, and you can start your digital store for just a few dollars. If you don’t want to deal with sourcing inventory, you can dropship instead. In this model, you would sell the item on your website, and then the manufacturer or retailer would ship the item to your customer.
There are two very easy to use platforms where you can get started with a free trial and low monthly rate: BigCommerce and Shopify. Both platforms also have tutorials, so if you’re not tech-savvy, their resources will walk you through the process.
- Home Care Services
Our aging population combined with people’s fear of contaminating the homes of loved ones means that now is a prime time to offer services that care for the elderly. Home care services, delivery, and filling other needs like running errands are all in high demand right now.
- Online Learning
Everyone is familiar with distance learning now that schools have been shut down for months. Adults are also hopping on the bandwagon. So, if you have a skill that can be taught, considering offering it online. You don’t even need your own website. You can put your courses on a platform like Teachable or Udemy and get in front of millions of students.
If you prefer to keep it local, consider teaching a gardening or DIY haircut class (or anything you’re knowledgeable about) to the community. You can schedule a Zoom meeting, go live on Facebook or Instagram, or do a Google hangout. Consider charging a flat fee or offering your classes on a donation-only basis.
The Bottom Line: The economic landscape is changing rapidly. No matter what field you’re in or which business you decide to start, keep an eye on the trends. Consider what customers want now and what they’ll want one year from now and 10 years from now.
It’s hard to imagine a world where people congregate at events again and when in-person socializing becomes normal. However, that time could come sooner than you think.
As you evaluate ideas that help customers adapt to the concept of social distancing, also consider hedging your bets and being ready to pounce with a bespoke, in-person type of business when everyone recovers from all of this fear.
