Covid-19 has affected businesses and economies all over the world. A few industries have experienced an economic downturn and will take time to recover. But, fortunately, there are a few sectors that are experiencing a boom during COVID and have the potential to go from strength to strength.
In this article, I'll share the industries that are doing well during COVID-19 & are more likely to perform well after the pandemic.
1. Online Rental Business
Rental business is on top of my list. Customers prefer renting over buying options. There are multiple niche business ideas that you can start in the rental industry.
The rental business is on top of my list. Customers prefer renting over buying options. There are multiple niche business ideas that you can start in the rental industry.
Here are a few popular industries in the rental business:
- P2P car rental business
- Gym, fitness equipment rental
- Bike/cycle rental
- Travel gear rental
- Online furniture rental
- Peer 2 Peer workspace rental
- Textbook rental marketplace
How to start an online rental business?
You can start a rental business from scratch or with a ready-made solution like YoRent. Based on my experience, a ready-made is a cost-effective and quick way to get started. With a ready to use solution, you can save money & time and it takes away all of the pain.
Yo!Rent comes with many advanced features such as free technical support, free installation, both selling & renting options, and much more.
A few rental software give you live demos that show a clear picture of your business website/store.
Turo, Cort, LE TOTE, Chegg are a few popular players in the rental industry.
2. Online Food Delivery Business
Ordering food online has become a part of our daily routine. Nowadays, people prefer to order food online from a multi-restaurant marketplace rather than visiting a particular restaurant.
Food delivery businesses such as Uber Eats, GrubHub, and Deliveroo are one of the popular names in the online food delivery & ordering industry.
How to start a food delivery business?
Having just a website or a mobile app with basic features is not sufficient for food ordering & delivery businesses.
For this you need to partner with the right technology solution provider to launch your online food ordering & delivery marketplace platform.
Readymade solutions jam-packed with all the advanced features and functionalities such as YoYumm, DeliverLogic is ideal solution to launch your food delivery business similar to UberEats, Grubhub, etc.
3. E-commerce Store
According to AdobeAnalytics report, U.S online sales increased 49% in April 2020 over the prior year.
Online eCommerce industry is growing day by day. Now after covid19 people’s buying behavior has changed. Consumers love to shop online rather than visiting the physical store.
How to Start an eCommerce business?
To create a website like Amazon, eBay, Alibaba; there are many website builders or e-commerce software (including both single vendor or multi-vendor marketplace) which you can choose for them. Shopify, YoKart, Volusion are a few popular e-Commerce marketplace platforms . You can choose one of them as per your business requirements.
4. Blogging
Blogging is also a good business idea to start in 2020. Many bloggers earn a decent income through their blogs. With blogging, you can sell your products, services, earn money from affiliate marketing, and also have an option to do online consultancy service to your clients.
Blogging is a great way to increase your networking with other professionals.
How to start blogging?
It’s easier to start a blog in 2020. There are many online tutorials available over the internet. You need to choose a platform such as WordPress, Blogspot, Wix, Weebly, etc.
As per my observation, WordPress is the best platform to start a blog. It gives you multiple plugins which save your time and also help to easily handle your blog.
5. e-Learning
As per statistics shared by Forbes, the global e-learning market is expected to reach $325 billion by 2025.
As per the Coursera survey, the e-learning industry is booming and it also creates new opportunities. Users are going online across the entire world; users’ behavior has shifted to online so it’s a good chance to start an e-learning business.
Udemy, Coursera, and Verbling are a few top players in this industry. As per my opinion, it’s the best time to kick start your e-learning business.
How to Start an e-Learning Business?
My recommendation is to go with a ready-made solution. It will help you to build a feature-rich website.
Wrap Up
Hopefully, I have covered the businesses which have strong potential to earn revenue. You can pick the idea depending upon your skills & personal interest.
Which business ideas do you prefer to choose amid Covid19? Let me know in the comment section below.