Are you thinking about starting a new business in the near future? As a recession looms, you might think that now is the worst possible time to start a new company and launch it on the market. However, don’t be so sure. According to experts, numerous businesses have thrived after being established during a recession. Uber emerged in 2008 during the housing crisis and has seen fantastic results so your company could be next. However, it’s fair to say that every industry isn’t providing the same benefits or opportunities. For instance, now is not the right time to be diving into the travel sector. Restrictions on travel are going to make things difficult if not impossible while people may even be reluctant to go on holiday.
So, what business models are going to thrive in this brave new world? Here are some of the possibilities that you consider.
You should certainly start by thinking about logistics and delivering products or services to businesses or private individuals. This can start small with a single van for private deliveries. If you check out 25 surprising facts about Ford van leasing, you’ll discover it’s more affordable to get the vehicle you need for this type of business model. But you can quickly grow to include everything from a distribution center to multiple employees. Logistics is all about keeping customers and clients happy. As such, you will need to make sure that you are putting a focus on completing a quality service.
In terms of what you need for this business model, beyond the van, it will be important to have skills on the road. You need to ensure that you are a fast driver as well as keeping things safe. Ideally, you shouldn’t have any points on your license or any record of previous issues.
Fashion is still going to be important in a post-COVID-19 world. However, it’s important to understand that the type of fashion people want will probably change. Indeed, reports have already emerged that people are buying less office clothing and that’s to be expected. Many businesses are suggesting that they plan to abandon the large office model. Instead, more businesses will be operating with employees working from home. These employees are going to want to be comfortable and that’s why we’re seeing a boom in purchases of loungewear. So, if you are thinking about starting your own fashion business, then this is the clothing you need to focus on. It’s always worth exploring wholesale clothing that you can modify to get started here.
Something that will never stop being in demand is online entertainment. If you’re thinking of getting into business once the pandemic is over, then this is certainly one you should be considering. Take examples like Netflix, Amazon Prime and Disney+. Each of these streaming services has remained popular through the crisis, with people being stuck at home with nothing else to do. But, the demand isn’t going to go anywhere once Coronavirus has passed. As such, if you know anything about the online entertainment industry, and it’s a broad industry, then you should definitely think about getting new business in there when it’s all over.
There is nothing that people love more than putting their feet up at the end of a long day, and giving in to their craving for takeout. Having a relaxed evening, without having to worry about what you’re going to cook is where food delivery is going to come in. During the Coronavirus, people are still ordering food to be delivered to their door while having social distancing measures in place. This industry didn’t slow down because of the Coronavirus, and it certainly isn’t going to be slowing down afterwards. The people who aren’t currently ordering food for delivery will start doing so once they believe it’s safe to get back to doing this.
Food delivery companies such as Uber Eats are currently seeing a higher demand now that more food places are reopening. Takeout companies and delivery drivers specifically for food items are both still high in demand, and there isn’t much that is going to change that.
Tech has now become a part of our society. It’s highly unusual to go to a house or a business and see no tech whatsoever, which is why tech tricks like IT support or tech installation aren’t going to be at any risk. There is always something not working and a customer in need of assistance from someone who knows what to do. The general knowledge when it comes to fixing some sort of IT problem is to turn it off and then turn it on again. Further than that, a lot of the population is going to be stumped which is where the demand for these businesses comes in.
Trained professionals in all things tech will always be in demand. Even at the time where a lot of the world is in lockdown, these experts are still needed. If you try to call for tech support, you’re likely going to end up in a queue to speak to someone. Due to tech becoming so ingrained in our daily lives as well as in all businesses, tech support or installation is one of the places that you want to be when Coronavirus passes.
Wellness is one of those industries that is never going to be completely out of the market, no matter what. Even if there is a second wave of Coronavirus or something else equally as harsh, the wellness industry will continue to do well. The simple reason for this is that people like to feel good. Wellness products are there to make people feel better, healthier, and all-around better about themselves. This industry provides support to people, which is why it will always see success. It’s not like some of the other industries on the market that only thrive when everything is going well.
These products have a vast range and can include anything from cosmetics and skincare to vitamins. Due to the broadness of the industry, there is always going to be a demand for some parts covered under this bracket.
Finally, as it becomes apparent that the coronavirus isn’t actually going anywhere, the world is going to need to adapt. That means that there will be more social distancing measures that are designed to be long term. Health officials have already changed their tune on masks and are encouraging the public to cover both their mouth and nose in public places. There has been a particular emphasis on closed spaces like public transport. Unfortunately, the masks do get quite uncomfortable over long periods and some people can’t wear them at all. That’s why there probably will be a boom in private transport solutions where this might not be a requirement. As such, if you are looking for a new career right now, you could consider setting up your own private transport hire service.
Alternatively Uber and Lyft are both likely to be taking on more drivers in the near future. However, do be prepared for technology to make these roles redundant in just a few years. The age of fully autonomous vehicles is certainly almost upon us.
We hope this helps you understand some of the businesses that are going to thrive after this crisis comes to an end. It’s important to look at the trends right now as they will tell you what business you could start yourself. If you take the right steps here then you could see a fantastic level of success.