Any big ticket decisions are probably currently farthest from our minds as we face this pandemic. On the other hand, the lockdown has afforded us time and the economic reshuffle has provided us opportunities – enabling the potential to turn our creativity and resiliency into a productive and rewarding venture.
While keeping in mind that delivery and online retail space are still the names of the game, here are some business ideas you can easily start today.
There’s an old adage that food businesses never go out of style. Whether you’re just currently learning your kitchen skills or has always been a Masterchef-in-waiting, increasing your daily servings to accommodate potential customers can prove to be a viable business these days. You might want to start off with food items that don’t easily perish like baked goods and sweets, but dishes are not off the table (pun intended) especially if you have a homecooking style of your own. Begin with your circle of friends and a couple of enticing offers and see where that takes you.
#TheSmartMove Tip: If you’re starting, do it with scheduled pre-orders so that you can monitor the ingredients you will purchase. It would also be a good measure to ensure your working capital will revolve quickly.
As many of us have been forced to stay at home, we have more time to observe our own homes. Couple that with cabin restlessness and finally little “projects” come to mind to improve your house. That’s where home improvement businesses come in.
As many have been working from home, they’d want to spruce up their spaces for a more conducive working environment. Your business can start with selling succulent or decorative plants, stylized desk trinkets, or home decorations to improve people’s online meeting background game. If you’re up for high-risk-high-reward investments, you can sell basic construction materials or produce home office furniture like desks and chairs.
#TheSmartMove Tip: It’s a good idea to start the kind of home improvement business with products that your customers can take to their actual workspace when work-from-home schemes are finally over.
If anything this lengthy quarantine has given us, it’s time. Finally, there’s more time to learn the things on the bucket list. So, if you’re a professional or skilled at what you do, this is an opportune time to share your talents as a business. All you’d need is a stable internet connection, an online meeting software, and your tools for your skills.
Voice and musical instruments would be top choices for this but academic (eg. Math tutorials) or computer software skills (eg. Photoshop, Excel) are not far behind. In fact, any skill that can be taught is applicable but if you’re thinking of a business for a long haul, career-aiding skills are the way to go.
#TheSmartMove Tip: Conducting online sessions can be exhausting so make sure you schedule your lessons evenly, preferably 2-3 sessions per day.
It would be a long time before consumers return to the habit of buying clothing and accessories from malls and stalls. Many online sites already sell apparel but the advantage you can ride on is your personal taste. You can start with your pre-loved outfits and accessories to sell among your immediate circles. If you’re ready, you can take the reselling route by personally purchasing items from retailers and offering them on your online retail space.
#TheSmartMove Tip: Further ride on your advantage of personal taste by curating your collection to reflect a signature style. For highly-competitive businesses like fashion, branding is key to rise above the multitude of choices.
As we said, the new normal will have businesses highly depend on delivery in selling products to consumers for a long period of time. You can start your delivery business with your personal vehicle catering to your close friends with their own small online businesses–you can bank on personal relationships as your advantage. You can improve on that advantage by offering packaged fees for multiple deliveries or month-long arrangements to compete with established delivery services. And if you’re ready, you can start expanding it by adding another vehicle or hiring another driver.
#TheSmartMove Tip: You can purchase another vehicle to expand your business by using your current one. Take out a loan by using your current vehicle as a collateral–that way, you’ve actually expanded without needing a huge amount of cash or investment.