COVID-19 has fundamentally changed the way we live, but perhaps the most turbulent and disruptive periods may still be the most fertile ground for creativity. The 2008 economic crisis and the resulting growth of the "gig economy" gave birth to successful businesses like Airbnb, Slack, Venmo, and Square. Now is a time to consider starting a new home based business.
If you're looking for a potential business idea, here are some industries that analysts believe will grow bigger than ever as a result of the coronavirus disease outbreak.
There are plenty of business ideas that you can implement. From selling food from home to conducting classes at home. So make sure you choose your business wisely.
Also if you’re starting an online home based business, then make sure you use apps like Dukaan to help you sell and market your product.
With that being said, here are some home based business ideas that you can try out:
Several individuals have turned to home renovation efforts as a result of being compelled to sit at home and lose accessibility to "non-essential" facilities like carpenters and gardeners. Hardware stores and other vendors are suffering too, as a result of this.
From April to May 2020, web page visits in the wider home and garden segment increased by 140 percent!
These buying and search patterns point to a resurgence in enthusiasm in DIY or on-demand equipment and home renovation information. Any customer will opt to operate from home and, as a result, will put more effort into making their home a haven. Others are more likely to take the opposing tack and check out on-demand services.
Before the covid-19 disease outbreak, brands like Peloton and Daily Burn were gaining prominence. Gym closures and social distancing instructions have significantly increased this development. According to Statista, over 2.6 million Americans installed home fitness software in March 2020 alone.
These staggering numbers are pretty much the same everywhere, after the pandemic, people all around the world are making the use of fitness and at-home workout apps.
Remote fitness is a broad term that encompasses everything from at-home workout equipment to online workouts classes and personal trainer applications. With the rise of free online exercises that need minimal to no gear, fitness centers are facing fierce competition for clients. Forbes estimated that “the use of a ‘virtual' trainer would now burst into other fitness methods.” So the idea of a home based business delivering virtual fitness programs is a real possibility.
Food and meal deliveries have seen a huge rise in the numbers of orders placed. Food delivery apps like Swiggy and Zomato are having a ball.
Apart from them, there are several home-based meal delivery services that are also thriving. There are several people who just cook food at home and have it delivered to anyone who orders it.
This is a quite brilliant idea, where you don’t have to have to find help or a new place.
The total order size increased by 24% year over year, the largest growth of the year.
Even grocery delivery service is becoming more common. Swiggy, big basket supermarket app, both saw tremendous growth in downloads, respectively. Food convenience is a development that has the potential to last.
Consumers are getting more relaxed handling their skincare and haircare procedures from home, almost as they are with home renovation plans. Following the closure of salons and hair salons, hair clipper sales have increased by 200 percent.
Investing in the cosmetic industry is commonly considered to be a sure bet: the lipstick effect is the concept that in a downturn, people would be more likely to purchase less expensive disposable products. Lipstick, for instance, rather than a high-end handbag. A home based business that provides health products and cosmetics and have training on how to use them can thrive in a post-pandemic setting.
While the majority of analysts believe that working remotely is here to stay, the production of resources tailored to remote workers is lagging. Standard in-office jobs have different requirements as compared to freelancers and contract workers.
In the coming years, you can expect significant growth in freelance working resources and features. Both large and small businesses would need to change their procedures and structures to this new world, and you might be the first one to help them (for a nice fee). Helping businesses in developing a file-sharing framework for remote employees is also a great idea.
At present, working remotely appears to be a niche field of specialization but it will soon turn into something that every business must care about and the concept of a home based business is only growing.
These are some of the ideas that you should consider if you are planning to start a home based business as the pandemic ends. Make sure you choose the best possible option for you like Dukaan.
Make sure you look out for other business ideas and opportunities that may come along your way. Without keeping a sharp eye out for new trends and ideas, you will not be able to identify the problem areas.
So without further ado, all you have to do is, start weighing your pros and cons and choose a business idea that suits you best.