The impact of COVID-19, particularly on the business world, couldn’t have been predicted but has been an incredible learning experience—especially for aspiring entrepreneurs. Social distancing and remote work have forced traditional in-person businesses like restaurants, brick-and-mortar retail and event services to get creative with solutions and stay viable while also opening a world of opportunities for business owners to meet consumers’ new and evolving needs.
Entrepreneurs are innovative, creative and risk-taking by definition so establishing a business in or immediately after a pandemic doesn’t frighten many away. However, there are several niche markets or missing spaces in the digital marketplace that entrepreneurs can fill—thereby taking advantage of pent-up market demand and putting their best foot forward in the business world. Here are 3 ideal businesses to consider pursuing, whether you’re making your entrepreneurial debut or adapting the products and services you already offer to a changing marketplace.
#1. Handmade products
E-commerce has always occupied an important space in the marketplace and the pandemic showed us both the resilience of businesses selling online and the demand of community members looking to support local and small businesses. Online stores are the best avenue for aspiring retailers of homemade products like hand-knitted gloves, infused olive oil and more.
Crafters and artisans have a unique opportunity to build a following on social media like Instagram and TikTok and turn their passion and skills into a thriving business on sites like Etsy. Hobbies like woodworking, jewelry design or knitting can translate well into an online storefront, as can basic digital designers who create templates for Cricut users.
#2. Pet products and services
A positive from the COVID-19 lockdowns was the significant spike in pet adoptions. As people sought companionship from dogs, cats, birds and more while social distancing, shelters across the country saw an increase in adoptions and fostering in 2020 and 2021 compared to 2019.
To care for their new furry friends, many consumers are turning to online retailers and service providers. Pet products like homemade treats and toys are in high demand right now, as are online pet training classes. Channel your love of animals into a pet-focused business that makes consumers’ and pets’ lives better.
#3. Delivery and errand services
On-demand delivery services have become a highly sought-after market. Getting involved in this fast-growing industry could be as simple as becoming an Uber Eats driver or an Instacart shopper. You could also create your own independent courier service where you deliver groceries and other essential items, or run errands such as picking up medications.