by Marcus Cook
It wouldn’t be an overstatement to say that the consequences of the COVID-19 pandemic have been devastating. From health concerns to the economic downturn, we experienced it all. Luckily, as vaccines continue to roll out and the world starts to normalize again, a plethora of business ideas for post-pandemic opportunities sit on the horizon. A lot has changed since the onset of the pandemic. First, we saw digital interaction companies like Zoom, Microsoft and Slack take off as we found ways to stay connected through our screens. Then, we saw companies that relied on physical interaction and travel take massive financial hits. As we look to the future, we must leverage all the changes over the past two years to build sustainable businesses for the long term. Related: 3 low-cost marketing trends for the new normal 5 business ideas for post-pandemic needs This post will cover the five business ideas that are perfect for the new post-pandemic world. These ideas will range from concepts that you can run from your iPhone to in-person experiences including:
Start a dropshipping business.
Offer virtual assistant services.
Become an Airbnb host.
Open a food truck.
By the end of this post, you’ll be familiar with these five ideas that you can pursue and leverage to build a profitable business. 1. Start a dropshipping business More and more people are turning to digital commerce to buy the things they need. People no longer want to go to their local store, wait in line and travel back home. Instead, with a click of a button, they expect to get the products they want in a timely manner.
A great way to capitalize on this new shopping trend is through dropshipping. Dropshipping is a timeless business model that can work under any economic situation.
The great thing about this business model is that it’s a very low-cost business to start.
Dropshipping is when the retailer (you) does not keep any inventory on hand. Instead, you work as a middleman, transferring the customer’s order to the manufacturer.
By not holding any inventory, there are virtually no startup costs. You may have to pay a monthly subscription for many e-commerce platforms. However, your hosting costs shouldn’t exceed more than $30 a month when you’re just getting started. You will likely have to pay for additional tools like a landing page builder or an email service provider, but these services should only cost around $10 to $20 a month.
Interestingly though, it is possible to start a dropshipping business for free. Many successful dropshippers use platforms like eBay and Etsy to list their products. The benefit of using a platform like eBay, outside of the zero-dollar startup cost, is that they already have users on their platform looking to purchase items. Whereas, if you build a brand new store, you start with zero traffic. You will have to run online ads to your website or create content via social media or a blog to attract visitors.
Although the traditional online store strategy is more expensive and takes more time to generate sales, you will benefit from designing your own website and creating your own custom pages. You also will have the ability to collect the email list of your buyers and market to them in the future.
2. Offer virtual assistant services If there’s one thing the pandemic taught us, it’s that we can continue working even if we’re not sharing the same office space.
With the proliferation of technology that allows us to have virtual communication, it has never been easier for businesses to outsource tasks.
As a virtual assistant, the services you could offer are limitless. I would recommend teaching yourself a high-income skill. When most people think of high-income skills, they think of jobs like being a lawyer or a doctor — skills that need years and years of education before making a living in that field.
However, there are many skills you can learn on the internet with no need for formal education. For example, skills like copywriting, search engine optimization, coding, web designing or social media marketing can all be learned through YouTube or how-to articles.
Once you have a solid foundation of the skill you just learned, you can sign up on a freelance platform like Upwork or Fiverr and create a seller’s profile to start getting projects.
Also, don’t be afraid to leverage social media platforms, like LinkedIn or Twitter, to message business owners about your services.
3. Become an Airbnb host As the pandemic comes to a close, people are starting to “revenge travel” to make up for all the time they spent in their house since the start of COVID-19.
If you have a spare bedroom in your house, you may want to look into monetizing that space by becoming an Airbnb host.
The process of becoming a host is effortless and can be done within a couple of minutes. Like eBay dropshipping, becoming an Airbnb host is great because it is entirely free to list your home on Airbnb. In addition, the platform already has more than 150 million users who book vacations or experiences.
If you do happen to have the extra space and becoming an Airbnb host is a reality for you, you can check out the free rental property calculator on their website to see how much money you could make based on your location and property size.
4. Manage influencers
Influencer marketing has grown from a market size of just $1.7 billion in 2016 to an expected $13.8 billion by the end of 2021. With platforms like YouTube, Instagram and TikTok all growing in popularity, it is no surprise that brands are looking for ways to get their products in the hands of influencers who have an engaged following.
Still, many influencers don’t know the monetization potential behind their accounts. Most individuals with a large following have amassed their following because they love what they do, not because they want to sell something to an audience.
A great strategy is to pick a platform and reach out to influencers within a specific niche. The more specific you get, as in makeup influencers on TikTok, the easier it will be to represent them as a manager.
Reach out to these influencers and ask them how much they would charge to promote a product in their video. Many influencers won’t know the value of their audience and will give a number below market value.
Once you understand how much they would charge for a promotion, message companies in that niche and ask if they would be interested in promoting their product with that influencer. When they ask for pricing, give a number 10x higher than what the influencer told you.
Make sure to be upfront with the influencer that you will be making from these placements. However, they will usually be fine as long as they get the amount they ask for.
5. Open a food truck Although a food truck doesn’t sound like a sexy idea, it’s one of the most practical ways to get into the food business without taking on the risk of starting a brick-and-mortar restaurant. The food truck industry has been growing in consumer demand as the need for high-quality, affordable food has increased over the years.
With a food truck, you can meet your customers where they are instead of having them come to you. Additionally, by not being stuck at a physical location, you can try placing your food truck in different areas at different times of the day to see what strategy generates the most sales for your business.
Editor’s note: If you need point-of-sale payment options for your food truck, check out the offerings powered by GoDaddy Payments. With low transaction fees, you’ll keep more of your hard-earned cash.
Which business idea for post-pandemic needs appeals to you? There’s no denying that the COVID-19 pandemic is full of unprecedented problems. However, now that we can see an end to it, it’s time for business owners to start looking toward the future. There is no shortage of business ideas for post-pandemic needs worth pursuing in this new environment.
With this new economic landscape, you can do anything from creating in-person experiences to leveraging digital commerce. As long as you deploy patience and consistency, the sky’s the limit.
Marcus Cook Marcus Cook is an entrepreneur and writer who enjoys writing about personal finance, business strategy, and digital marketing. Marcus is also the co-founder of The Success Bug, a blog and podcast that interviews relatable young entrepreneurs and shares their secrets to success.