There is currently a significant shift happening in the world of business because of the pandemic. Many traditional companies, alongside their brick and mortar stores, have closed down. These businesses have lost their primary income source and have grown desperate to build another kind of business during the pandemic to sustain themselves and their family. So that’s why they have resorted to building their own digital business.
Digital businesses are earning billions of dollars due to the pandemic. These businesses are offering the services we need that currently, traditional companies cannot provide. Furthermore, these online companies aren’t affected by the problems happening right now in our world. This means that they function properly despite the pandemic. This is the essential factor why they are currently the best business model right now and for many years to come.
Experts believe that digital businesses are here to stay and that the pandemic has only accelerated the inevitable. At some point in the future, all companies will have their presence known in the digital world, and those that choose to stay with their traditional roots will perish the same way they did today. If you want to join this revolution, you’ll have to start a digital business yourself. However, looking for a digital business to start can be pretty challenging. Here are some simple digital businesses you can start during this pandemic.
Tutoring Business
One of the most significant needs right now is for children to be educated during the pandemic. Thus, home tuition agency in Singapore and the e-learning market is expected to reach $375 billion in the next few years.
Education used to be a challenging prospect during the pandemic because no one was prepared for it. Many schools anticipated that the pandemic would only last a couple of months and that children would be back in schools in no time. However, this wasn’t the case. The pandemic is still around up to this day, and many schools remain closed. This is why there is a transition to online schools that we know of today. Being a part of this educational world is one way you can easily start your business.
You can’t make your school overnight and accommodate children through online means. However, what your business can do is cater to people who want to learn a new skill during this pandemic. For example, many want to learn a new language right now, and capitalizing on that can net you a couple of thousand dollars. Many people from foreign countries are looking for someone to teach them English. Considering that you live in the US, you have plenty who are willing to be a part of your business.
Of course, you’ll still need to train these employees of yours to learn other languages at an optimal level, but you wouldn’t need to spend much if you hire someone who already knows the language. If you don’t want to start a business like this, you can always opt to start other educational courses such as cooking or music. These are all viable skills that can help you earn a couple of thousand dollars during the pandemic.
Delivery Business
Delivery businesses are currently top on the list of companies earning millions in revenue during the pandemic. You can be a big part of this growing market, and it won’t even cost you that much!
Years ago, no one would have predicted that delivery would be the norm in the future. Everyone believed that eating in fast food chains and restaurants was the best way to go. These people didn’t know that restaurants and fast-food chains are hot zones of infection. This is why many of them were forced to close their stores, but they can still function. These businesses are looking for someone to do the deliveries for them because as we all know, having a delivery department can be quite costly. This is where you come in.
Your online delivery company can make its bookings online. Your website can then transmit the order to riders nearby, and these riders can choose whether they can make the delivery or not. You can pay these riders on a commission basis, or you can pay them through salary. The choice is up to you.
There is still much room in the delivery business, and it’s predicted that years from now, people will still need this particular service. So it’s good if you start now!
Dropshipping
Dropshipping is a trending online business right now because it’s simple to execute and does not need many funds to start.
Dropshipping businesses don’t keep their stock. Instead, these businesses make their purchases to a third party when customers make the order. This means that you don’t have to spend any money during the transaction because the customer’s payment is what you will use to pay the supplier. Furthermore, you don’t even need to pay for storage because you don’t store your stocks. It’s a simple business model that works well in most situations.
But there are also downsides to such a business. One of which is that you can’t demand a higher margin on your products simply because you’re just selling these products as a middle man. However, this does not mean that your business can’t grow exponentially. Your Dropshipping business can still grow because you don’t have many expenses as other businesses. So you can add those expenses to your revenue instead.
Here are some simple online businesses you can start this year. These online businesses are known to be trending during the pandemic and are known to still grow after it. If you start now, your online business will grow and own a big share of the market once the pandemic ends.