The novel coronavirus has shaken up the global economy, with countries having to go in a lockdown and quarantine mode. Businesses in every country have been hit hard and are struggling to sustain. Schools, shopping malls, theatres, etc have had to shut down for an indefinite period of time. Scientists predict that COVID-19 will stay with us for quite some time and we will have to learn to live with it.
Therefore, with extra caution, we need to find alternatives to survive and resume our daily operations. Business owners are also looking for ways and innovative ideas to reinvent their businesses. Fortunately, the internet and advanced technology are saving the world from the vicious impact of COVID-19. Schools are leveraging online learning platforms to reach their students and are conducting lectures online. Similarly, businesses from different industries are also trying to go digital to make the most out of the current situation.
As if dealing with this chaos created by COVID-19 was easy, finding profitable business ideas during these times is even tougher. Therefore, we decided to write about 8 business niche ideas to follow during COVID-19 to get your business up and running.
8 business niche ideas to gain an edge during COVID-19
Online platforms have been of great help for many businesses to continue their operations despite the outbreak of coronavirus. Many companies have instructed their employees to work from home and have experienced productivity even while their employees are working from home. Considering the benefits, various companies are considering making ‘work from home’ the new norm. This would help them reduce costs while receiving the same productivity. Therefore, knowing the huge impact of the internet and technologies, we need to leverage them in our businesses to survive during COVID-19. Here are a few business niches that look promising and profitable:
#1 Set up a delivery business
COVID-19 had a severe impact on all businesses as they were asked to close operations during the lockdown. However, the delivery of essential items has surged as people are reluctant to step out of their houses. As a result, the food and grocery delivery apps such as Instacart, Walmart, and Shipt experienced app downloads of 218%, 160%, and 124% respectively.
Restaurants are solely relying on restaurant delivery app development to get some business. Meanwhile, grocery stores are relying on grocery delivery aggregators to increase their sales. Therefore, at a time like this, it is evident that starting or investing in an essential item delivery business is probably the most lucrative option.
#2 Medicine delivery
During the lockdown period, many people are unable to reach chemist shops and buy medicines. People suffering from minor health issues or from the virus itself are finding it difficult to receive medicines on time. Moreover, hospitals are already overloaded with COVID-19 positive patients, and being hospitalized for minor ailments in this situation will worsen the condition of people. Therefore, a medicine delivery business can help people in receiving timely medication to stay healthy and avoid visiting hospitals or healthcare professionals. However, developing a medicine delivery app requires complying with mandatory rules and regulations of the country you will operate in. Therefore, you should ensure that your medicine delivery business is not in breach of any of those conditions.
#3 Online learning platform
One of the booming online industries during COVID-19 is the education industry. As schools and colleges have had to temporarily close down, they have resorted to online learning platforms to help students continue their education. There has been a significant increase in the number of online learning app downloads and these apps are expected to continue to hold great significance in imparting education even post COVID-19. Therefore, investing in a secure online learning platform is a great business niche idea to follow during COVID-19. You can get creative and unique with your idea to gain an edge over your competitors.
#4 Provide pick up and delivery services
While food and grocery delivery apps are handling the delivery of essential items, people are still looking out for add-on delivery services. For instance, you can start a laundry pick-up and drop service or pickup and drop-off important documents, delivery of pet food, etc. Many businesses are leveraging unique delivery ideas to satisfy their customers with their services.
#5 Start an eCommerce business
Although big e-commerce players such as Amazon and Flipkart are dominating the e-commerce industry, there is still immense potential in the industry for startups. People getting bored at home and those avoiding to step outside are utilizing e-commerce platforms to order whatever they need. You can start an eCommerce platform for a certain niche to avoid competing with the industry leaders. For instance, you can start an eCommerce business to sell Korean products that are high in demand, sell apparel, quirky gift items, etc.
#6 Online health & fitness
Maintaining your health and fitness during COVID-19 is crucial to strengthen your immune system. During the pandemic, health and fitness apps have experienced a significant increase in downloads. Since people can’t hit the gyms anymore, they have turned to these apps to maintain a healthy lifestyle. There are various options to choose from, when it comes to building a health and fitness app. For instance, you can create a health app that monitors the vitals of the user, a fitness app that provides users with different exercises, an app that offers dietary guidelines, or an app that enables users to connect with healthcare providers remotely.
#7 Set up an online dating platform
Socializing during social distancing is only possible virtually. Clubs are launching virtual bars where people can meet other people over a drink virtually and watch DJs and bands perform online. Amidst such creative ideas, you can set up an online dating platform using the virtual bar idea, and connect people over drinks. You can also build partnerships and collaborate with such bars and clubs and come up with a unique idea to attract customers.
#8 Virtual consultancy business
Utilize your skills and set up a virtual consultancy business to connect with your clients online. Depending on your skills, you can offer online music classes, cooking lessons, dietary consultation, fitness consultation, digital marketing classes, etc. The opportunities are endless and only require your creative juices to flow.
Setting up a new business requires a lot of planning, research, analysis, and most importantly, patience. Leveraging the virtual world in your business seems like the only solution during COVID-19 and will also continue to hold importance in the long-term. These 8 business niche ideas will help you reinvent your business during COVID-19 and help you combat this crisis.