What is the best business to start during and after the Coronavirus outbreak?
Tough economic times often bring about innovation. What new business opportunities are available during the Coronavirus outbreak? What about after it ends? What opportunities have you seen or heard about?
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I believe mobile sales and distribution business would be an opportunity for a startup during this climate. It could be sustainable with adjustments to product and service based on need and timing. Cleaning supplies and health care products delivered to the customer's door. It could be business or residential.
Thank you for your support.
Marcelle
U-Haul/ABA
Honestly, I don’t think you should start a coronavirus specific company...You would want to look at what businesses were considered essential throughout this difficult time. In my experience, liquor stores usually do well anyway, and throughout this pandemic sales certainly didn’t drop off based on the lines I saw. 😂
I am working with businesses to recession proof their businesses by having an analyst come in and show them the following:
As long as suppliers are able to meet your orders--on line is the way to go. We have a nich business--our busiest months are Sept thru early Dec. We sell decorative ribbon, so Christmas season is our season.
Because we are online, our business is selling Christmas ribbon in April and May..very unusual, but when you are on stay at home, you may as well get a really early "jump start " on the season
When one reads this question one can easily & automatically thinking of a present COVID-19 market need. HOWEVER I think it is really important to put the horse before the cart and ask yourself what do you LIKE to do?? If it is hand sanitizer sales then GREAT. You like sales and are presumably good at sales and are meeting an apparent market need. Hope this writing helps someone out there! Jennifer B., Nurse/Artist/Businesswoman
So if everyone in North America has learned their lesson about outsourcing everything under the Sun to far away lands, determine where there are no local manufacturers of specific products. Sell the Made in Canada branding as I think there will be a paradigm shift in buying local. You have to remember to focus on the generations that are the highest consumers for the next 10 to 15 years.
The general answer is one that creates a supply (value) to a demand. So for the micro entrepreneurs, commodities like masks, hand sanitizers, aerosol disinfectant, etc. If you're looking at services, drop by services such as hair cutting, grocery shopping, landscaping, and other delivery services. On the larger scale, telehealth and IT related businesses, such as online training, coaching virtual teams, etc. And as a note to my fellow entrepreneurs, a new normal has been established, forget about waiting for things to return to normal. You must learn to survive and thrive in this new normal. Because come flu season we're probably going to be in a lockdown state again. Food for thought.
The best business to start is something in VR (virtual reality) right now. That's the future of so many things such as sports and cinema. You don't have to be a manufacturer of VR headsets, but get in now someway while it's growing.
For example, you can start a VR dedicated YouTube channel or blog. You can launch a virtual space, open an eCommerce store dedicated to VR, etc.
Note that this is not financial or business advice, it's my opinion.