While we are yet to recover from one blow of the deadly covid-19, another new variant prepares its attack. With lockdown after lockdown, the pandemic era has slowed down the growth of various businesses. Many businesses even went bankrupt.
Restaurants, airlines, manufacturing, retail, and media production industries are amongst the first liners to receive the pandemic blow directly on their chest. As per statistics, more than 41% of businesses shut down temporarily during the pandemic. In addition, around 1.8% of businesses shut down permanently during this pandemic.
When it is unimaginable to even sustain a business, many businesses profited and maintained a steady growth. With smart marketing strategies and business plans, some businesses have generated more revenue during the pandemic.
After thorough research, we have gathered info about these seven businesses that have the potential to grow even in a terrible pandemic situation.
- Home Fitness Companies
During the covid lockdown, the gyms were closed; people found themselves clung to their beds or chairs, and the word fitness nearly vanished. It was a lazy lockdown until the home fitness companies made their way.
These online home fitness programs came as a relief, and judging by the popularity these programs gained; we can say that they are here to stay and grow, even after the pandemic. If you have fitness skills and are a professional trainer, you know how to start a business with no money.
eCommerce businesses were already popular. But during the pandemic, the eCommerce business went off the charts. As the covid precautions required people to avoid contact, the usual way of going to the convenience stores to buy the essentials almost vanished.
People started to buy things online. Foods, cosmetics, essentials, clothes, everything sells online. In addition to online payments, eCommerce businesses are pandemic-friendly and offer contactless trading. Like the e-commerce giant Amazon, many small drop shipping businesses also did great during the pandemic.
Cashless transactions through online bank transactions are one of the current trends. It makes payments easier and faster. But, the number of cyber thefts is also increasing. There are many cases of online theft, scam, fraudulent activities, and the leak of important data threats to several IT companies and the government.
This is the best time for a cyber security business. This is another business that has seen better days during the pandemic. Many companies need cyber security for their office computers, smartphones; it is the assurance that thousands of corporations need in the current world. Cybersecurity has a bright future even after the pandemic.
- Food Delivery
The food delivery industry had remarkable growth during the pandemic. With everything closed during the lockdown, people cannot enjoy delicious meals in restaurants. But the food delivery services came to the rescue of those who love to eat outside.
These food delivery services cater to various dishes and have grown exponentially during the pandemic due to the merit of their service. Grub hub and UberEATS are examples of profiting food delivery services during the covid pandemic.
As all the working sectors went into lockdown, the medical sector remained open. While it is necessary to go out if you need treatment, you cannot rush outdoors whenever there is a need for new medicine. Thanks to the telemedicine services, the pandemic period has been somewhat bearable for many people.
The telemedicine or the online medicine delivery business has increased during the covid pandemic. Especially in cities, the need for all these telemedicine services will remain uncompromised. In the coming years, the business in telemedicine services will grow even more.
- Online Teaching
Most of the students switched to e-learning in the pandemic. Many schools and colleges are now holding zoom classes. When learning from home is what most of the students are doing, online tutoring businesses boomed rapidly. Many organizations have started and succeeded in delivering online teaching courses.
Aside from academic courses and tutoring, many online learning platforms also offer skills that anyone can master. For example, online learning platforms like Skill share, Domestica, and a few others offer almost all skills like singing, drawing, writing, and so on. In the pandemic, the e-learning platforms have also seen sizable growth and remain sustainably after the pandemic.
- Online Streaming Services
Many people stuck at home during the pandemic spent quite a lot of time on Netflix, Amazon Prime, Hulu, Disney Plus, and the likes. During the pandemic, online streaming platforms have made a remarkable profit. The viewership of most of the famous OTT platforms increased when the lockdown was active.
As of 2020, the global market cap of the OTT industry stood at a whopping 101 billion dollars’ worth. As the global audience consumes more streaming content, the industry will grow up to $223 USD by 2026. As Netflix and similar platforms have become popular, we can only predict that the streaming platforms will remain alive and well even after the world goes back to normal.
You need to know how to write a business plan if you are going to a business; you also need to know which business works at what time. For example, when all other businesses faced a terrible loss during the pandemic, they survived and surpassed their previous states.
eCommerce, cybersecurity, food delivery is some of the surviving businesses of the covid pandemic. Not only that, these businesses have the potential to remain successful even in the post-pandemic world.