While speaking about recession-proof, or as our article suggests, coronavirus-proof business ideas to invest in, the general advice is to go for businesses that do not need a very high initial investment.
But this piece of advice is useful for those who are planning to start a business with not much experience.
This rule as such helps to reduce losses by controlling the risk. As far as business ideas are concerned, some recession-proof businesses can be those that are necessities as products or services and will thus not be affected by economic situations.
In this current situation wherein the global economy has run dry due to the pandemic, the best way is to cater to the lifestyle people have adopted since the outbreak.
Let us look at these ideas in detail and learn how they are especially advantageous in the times of Covid-19.
1. App Development
There’s an app for everything in this world. The very idea of apps is to get you everything at your fingertips, and amusingly, now our mobile screens are the only things we want our fingers to touch.
Hence, the interest in mobile app development company is increasing today because everyone is trying to get their offline businesses online to get back their customers.
The demand for healthcare IT solutions has been raised in the healthcare sector.
Any public health emergency demands swift pharmaceutical and healthcare consultation services for patients.
Medicine delivery gained momentum due to quarantine restrictions imposed as a result of the coronavirus infection.
The use of mobile apps to consult doctors and medical professionals also opened avenues for the virtual healthcare industry, making it a promising sector to invest in.
3. Online Education
Now, let’s talk about a high investment, high output, coronavirus-proof business idea.
The online education platform is one business that took off as a result of the pandemic.
You require very effective ideas and business plans to excel in the online education sector, and most importantly, you need to hire an education app development company that can communicate your vision into the product.
This is not a hidden niche anymore, so the competition is rising quickly.
4. Freelance Tutoring
Freelancing on social media platforms such as YouTube can be a very efficient second career if you are passionate about your field of interest.
With passion comes a better understanding, and with good communication skills, you can put your own unique content online.
Many flocks to YouTube for a better or easier explanation of topics/subjects.
A very clear and structured method of teaching will be a good start, but if you can incorporate your own few tips and tricks for easier learning, that would help you stand out.
5. YouTube Channel
2020 has been the year of success for unconventional careers. While many social media platforms seem to offer success by putting in very little effort, it’s not always guaranteed.
YouTube is known to give results if you are passionate, consistent with your uploads, and possess basic video editing skills.
Though the opportunity for investment here might be slim, if you look closely, you will find how a lot of brands have affiliations with creators.
This leads to effective collaborations and marketing to a very large audience, with only a fraction of the money used for conventional marketing.
6. IT Companies
When the pandemic first hit, it seemed as though the IT company sector would have a difficult decision to make, given the crowded working spaces and the high number of employees.
But since figuring out the work-from-home initiative and strategizing its efficiency, IT companies have been reducing their overhead charges by a large margin while consistently increasing turnover.
7. Finance Jobs
Something that even in scarce or in surplus needs to be carefully followed is money, and those who are appointed with this task include accountants, bookkeepers, and financial planning companies.
Many businesses start as a passion, usually at a very small scale. But even if the number of consumers has increased, the only way to sustain the company’s growth is through good financial planning.
With or without the pandemic, accountants and bookkeepers will always remain important.
8. Local Repairs
There is always this one group of people who you call and rely upon if there’s a breakage or something is not working right in the house.
Usually, all their marketing is done by word of mouth. While this is certainly helpful as it is usually accompanied by a personal anecdote, it takes quite some time for the news to get around.
Hence, a more effective strategy would be to hire dedicated developers to create a location-specific app at a moderate cost.
Another option would be to advertise your services on various online spaces.
This is one of the best low investment, recession-proof business ideas, provided you already possess the required skills.
The colossal shock to our immortality as humans when the pandemic hit was so rippling that many flocked to the internet for any sort of fitness ideas just to keep their hopes up.
While the craze eventually slowed down, there was a rise in the total number of people who still kept up the health streak.
A fitness app development company has come out with apps, blogs, and vlogs for fitness and wellness.
Even if gyms have started to open up, the fact that people figured out to use the safe spaces of their homes to efficiently burn calories suggests the fitness industry is here to stay.
While eating out became a big no-no during the initial months of the pandemic and almost all, both experienced and inexperienced, took to home cooking, the cravings overrode the fears soon, and simultaneously restaurants, meal delivery systems, grocery systems all found out new methods for a coronavirus safe service.
From temperature checks to no-contact deliveries, they finally assured the people and resumed their businesses.
Many on demand app development company came to help out independent businesses to get online and improve the services of already existing businesses.
Covid-19 Specific Businesses
The only people who think of the pandemic as an opportunity are business people.
Home fumigation services, preventive medical supply services, at-home Covid-19 tests service, etc., are just a few extremely profitable businesses brought up by the pandemic.
A Few Final words
All the above-mentioned business ideas, even though are probable during the pandemic, are not without the risks associated with businesses in general.
The world has gone completely online since the virus hit the world community, thus you can also hire a web development company and ensure a path towards success.