Since the beginning of the COVID-19 pandemic, the business world has changed. It’s no longer business as usual thanks to long lockdowns that are now pushing on a year. The result has been millions of Americans on unemployment, millions of businesses shuttered, and an uncertainty of when and how the economy will rebound. With no end in sight for masks, lockdowns, and an overall upset of life, many people are wondering if this is a good or bad time to become an entrepreneur. That all depends on what kind of business you’re going into. Some businesses are thriving during the pandemic, while others are going under.
Read on to learn more about the current business market under the pandemic lockdowns.
Gyms and Fitness Equipment
Generally speaking, gyms are closed. However, the fitness equipment industry is booming. People still want to work out and if they can’t get to the gym, they’ll create one at home. People are now ordering fitness equipment to stay in shape and the industry is taking off. This is one area where entrepreneurs can succeed during the pandemic. Have an idea for a new piece of fitness equipment or are you simply an outstanding salesman? Either way, you’re sure to find a creative way to break into this lucrative business.
With people staying at home, shopping online has increased exponentially. Either nearby stores are closed or people would rather not risk going out and possibly exposing themselves to COVID-19. For these reasons, there is an upswing in e-commerce sales. Amazon sales are through the roof. If you have a product you’re ready to start selling, this is the time to list it on Amazon. If you’re considering becoming an e-commerce dropshipping merchant, you can start your own website with an app like Shopify and then hook up to dropshipping products from a company like Spocket.
Delivery apps such as DoorDash, Instacart, and Postmates are also seeing a rise in business thanks to the pandemic. Consumers are opting to have food and other supplies delivered right to their door rather than go out, even if anything happens to be open. Across the country, but particularly in blue states, we’re seeing restaurants closed or only allowed to serve takeout. It makes sense then for people to utilize delivery services for food and other items since many people simply don’t have any other options at the moment.
Supermarkets, gas stations, and liquor stores are seeing more and more customers purchasing alcohol during the pandemic, particularly since most bars and restaurants are closed to in-door drinking and dining. Because of this, people are drinking at home.
People are looking for hobbies to pass the boredom imposed by the pandemic. One area where we’re seeing higher sales is the baking industry. Everyone loves baked goods, a kind of comfort food, and baking is a fun way to pass the time. As an entrepreneur, this is an industry where you can share your best ideas, products, and recipes.