Businesses in times of crisis are all those that, despite such unexpected day-to-day changes, manage to maintain their turnover and profitability. With crises, people can resort to enjoying the most basic services and in other cases, they return to old habits; therefore, a correct market study can be a guaranteed success.
A business opportunity is not determined by the global context, but by the intention of creating establishments that satisfy a need at a given moment. The first thing you should put into practice is to lose your fear! true entrepreneurs don’t let fear of changing economic situations stop them.
It is essential to consult the market for new trends to offer cutting-edge products or services, which is why we will begin by letting you know the ways to give life to your business and in which sectors we recommend investing.
How to build a business in times of crisis
The idea of starting a business in times of crisis may seem like nonsense, but the truth is that it is not. How to do it? To start with, you need to develop a good social listening system. That is, it studies social networks every day to know what is happening in a certain sector and check the needs of customers. For example, you can identify what concerns them when buying or the relationship they want to have with the seller.
There are profitable businesses in times of economic crisis, you just have to know how to create a business plan oriented to reality and that favors your budget. You can choose to minimize spending and invest in what offers you a way out of the crisis. A good investment would be to cover the commercial and marketing aspects since they are essential to reach customers.
Your customers have problems, sometimes small and sometimes bigger. That is why you must stop selling products and services to start selling solutions and experiences. Rather than offering a reduced cost, you can identify the problem and attack it. Add value and your customers will stay by your side.
Finally, make your brand meaningful, easily remembered, seamlessly integrated with the product or service and with the customer experience. If your client can remember the name of your brand, its shape, and its color, it allows us to say that client will be able to recommend you and even visit you again.
Business in times of crisis – 10 Business ideas you can implement
What business to start in times of crisis? Businesses that add value to their customers and manage to differentiate themselves from their competitors are those that may have the opportunity to maintain themselves even when the situation becomes complex in the market. In short, there is no magic recipe that guides you to success, but there are businesses that guarantee that great efforts generate great results.
Therefore, we bring you 10 ideas that will allow you to choose and bet on the best deals in times of crisis. Do not forget to take notes, so that at the end of the reading you can brainstorm and define your action plan.
1# Healthy food
Have you considered the idea of undertaking benefiting health? Among the list of successful businesses in times of crisis, we will include a healthy food establishment. Offering your customers quality information and products will always be an excellent starting point for you and your business.
Do not lose sight of the types of food your customers are looking for, study your competition and create a differential factor. A strategic place to establish a healthy fast food business is in front of a gym, where the vast majority of people think about buying and eating something that does not harm their health and training. One way to get the attention of your consumers is to sell products created by yourself.
Check out these varied and adaptable ideas to different profiles, needs, and budgets:
- Organic salads.
- Gluten-free or flour-free cookies.
- Nut cream.
- Vegetable smoothies.
- Functional juices: Antistress (honey, pineapple, and mint), antioxidants (ginger, pineapple, and mango), and digestives (agraz, coconut, and watermelon).
- Vegan and vegetarian options
2# Pet store
This is one of the businesses in times of crisis that has most prevailed over market changes. Every day the percentage of people with domestic animals increases and, proportionally, the undertakings to satisfy the needs of pet lovers. Tip, if you want to start with something simple, the ideal is that you start with a store that focuses on accessories for dogs and cats since it is the pet that most people have.
However, the establishment can be increased by offering products for other species or even adding other services. Animal accessory stores are a growing sector. Your initial investment will vary between $ 5,500 to $ 11,000 USD. The figure will depend on the infrastructure of the business and the services you are going to provide.
What products can you sell in a pet store? We suggest these:
- Food for dogs, cats, birds, hamsters, and other animals
- Pet food supplements
- Shampoos and products for animal hygiene
- Authorized drugs
- Toys, clothes, and fashion pieces dedicated to pets
3# Makeup sale
The world of beauty products is a fairly broad sector as it offers different business opportunities, from online sales to traditional stores and makeup services. A makeup store is one of the businesses in times of crisis that maintains its profitability since most people buy products for daily use.
The total budget to sell makeup can be approximately $ 5,000 USD and up. If you start on this turn, you must consider an important detail: having personnel with knowledge of the sector about the products and their use. We should be able to advise our clients when they ask us for advice or help.
If you are interested in knowing which are the best makeup brands to resell and how to make money with them, we recommend you visit our article: 8 best makeup brands to resell | Get into the cosmetics business
The best business in times of crisis, without a doubt, is to deliver any type of parcel at home. The deliveries are businesses that emerged through the pandemic situations which we find almost two years ago. The crisis leveraged its success and, of course, it’s positioning.
The delivery, initially, was used for the delivery of products or for the distribution of meals in homes and offices, now it has covered sectors such as domestic cleaning, nursing, massages, teaching, physical training, among others. However, the process of starting a home delivery business requires considering the areas of product delivery or service delivery.
Learn about the advantages of why we should start home delivery and why it would be great for your business, not only in a pandemic but as a new sales method:
- Win more customers and increase your sales
- Offer an extra to your buyers
- Give away shopping experiences
- Build loyalty to your client
- New payment alternatives
- Convenience for customers
- Reach a greater number of people
5# Second-hand stores
Giving clothes we no longer wear a chance is one of the businesses that thrive in times of crisis. Despite the situations, as human beings, we are always looking for what to wear and how to fulfill the need to make purchases. In addition, it is a business that requires very little investment.
Thrift stores can carry all kinds of products, from clothing to baby furniture to gardening supplies. To open a thrift store, you just need a few items that you can sell, space for people to come and buy, and a way to save money. Create a marketing strategy so that people can hear about your brand and connect with your services.
Doing business in times of crisis can be a great challenge, but follow these steps and your store will be a success.
- Create the brand and image of the premises.
- Use the correct lighting in your store.
- Design an orderly space and take care of aesthetics.
- Acquire coat racks and shelves to alternate areas of jewelry, bags, shoes, clothing, and others.
- Find a central location with a high flow of people.
- Comply with all the licenses requested in your country.
- Enter the digital world and dominate social networks.
A cooperative workspace is among those innovative ideas in times of crisis; Beyond isolation, human beings have the innate need to relate to others and this is what a coworking space is all about. These spaces are the ones that are responding to the duality between face-to-face work and remote work since they offer an alternative to conventional spaces.
Renting a large space, giving it a coat of paint, hiring Wi-Fi, and installing chairs and tables seems like a simple task. However, you must define what your target audience will be, what your purpose is, and what you want to achieve through this space. In a coworking, you can serve all kinds of tenants from freelancers to large companies.
The initial investment for this space can range from $ 5,000 to $ 15,000 USD, depending on the plans and services you are going to offer and the facilities. You can create a coworking for the following professionals, entrepreneurs, or freelancers:
- Professionals from various sectors
- Passionate about fashion
- Artists (edit)
- Nature and sustainability lovers
- For large companies
7# Online stores or e-commerce
Do you want to know how to generate money in a crisis? Entrepreneurship in the digital world is an excellent option. But … an online store is not set up in a month. Keep in mind that doing the market study, finding a business model, finding suppliers, asking for a quote, is not an easy process.
E-commerce platforms represent the cheapest option and include a variety of services that would be expensive when you try to contact them separately. The investment range is from $ 5,000 to $ 10,000 USD.
Of course, selling online requires constant maintenance of the website, as well as investing in programmers and designers. The speed of your online store is key, both for users and for search engine positioning, so invest in a hosting company. Discover those products that you can sell online and have good income:
- Clothing for women and men
- Accessories and products for pets
- Wireless products
- Crafts and personalized products
- Online courses
- Fitness products
- Phone accessories
- To find out what other products you can sell online, read our article Products to sell online | The 20 most demanded articles.
8# Fast food
In this list of businesses to invest in times of crisis, express food businesses cannot be absent. The sale of food regardless of any situation will always be a great business because its product is one of the basic physiological needs for human survival.
It is a sector with a lot of competition, but also with a lot of demand; Because its consumers can be workers with little time to stop to eat during the workday, families with children who have a special dinner on weekends and young people who find it more affordable than a normal restaurant. Having business ideas in times of crisis involves great risks, despite this, the fast-food sector has managed to maintain itself over the years.
And if you don’t believe us, see the history of large franchises like McDonald’s that have remained booming despite everything. Now, how much money do you need to open an express food restaurant?
The initial investment in a restaurant can range from $ 5,000 to $ 50,000, this is a factor that is measurable when you have already carried out a market study and have your services already defined. We recommend good business ideas:
- Sale of hamburgers and hotdogs
- Food truck or fast food truck
- Fast food delivery
- Bar Restaurant.
- Desserts such as cupcakes, truffles, donuts, and others
- Pizza shop
- All Recipes
9# Cleaning services
Are you looking for good deals in times of crisis? We help you find what you need. The cleaning companies are usually a great choice for new entrepreneurs entering the market because they pose fewer risks to the time of its release. If you want to become an entrepreneur but don’t have a lot of capital, the cleaning industry might interest you.
In general, an estimated budget to invest is between $ 5,000 USD to $ 10,000 depending on the specifications and services that you are going to include.
It will be very helpful to observe closely the work of your competitors, especially those companies that have positioned themselves in the world for their excellent services. There are many apps available that can help you start finding customers and spreading your business name. Some of the more popular applications include:
10# Online courses
If you are still wondering which businesses work in times of crisis, we continue with the ideas. We know that the digital world has taken over our lives, including the educational sector, therefore, we bet on online training businesses.
It is no secret to anyone that the market for online courses is growing; students receive classes through videoconferences or materials deposited in an online teaching platform.
Digital training has no physical limitations. The strong point of these courses is the total flexibility they offer, both to those who teach them and to those who receive them. Creating and selling online courses is not that complicated, it is just a matter of following these tips:
Why would someone buy an online course? The answer is because you have a problem and you want to solve it, therefore, you offer solutions.
Start with a small course of a few videos and some worksheets that you can create yourself with your word processor.
The important thing is the value you transmit and what helps your client.
It is a business that requires little investment, the amount to be invested may even be zero if you start with resources that you already have.
Currently, we can enjoy several online platforms with a variety of courses, use them to inspire you, and find your starting point for this profitable business. For example:
- Domestika: it is the largest creative community. It allows you to learn from anywhere with online courses taught by the best professionals and share the learning with the rest of the students in the community.
- Coursera: Partners with more than 200 leading universities and companies to bring flexible, affordable, and job-relevant online learning to individuals and organizations around the world.
Have we managed to solve your unknown of which are the best businesses in times of crisis? There are businesses that continue to be widely used even in difficult times. The idea is to know how to choose since certain sectors have their peak in different global contexts.
This process is based on the fact that, rather than building a strong business, the trend that sets the new normal is to promote a flexible business model that knows how to adapt in a short time to the needs of the market, its employees, and customers.
What do you think of this list of business ideas in times of crisis? What is clear is that creativity should be the starting point when deciding to create your own business. The ingenuity when creating new ways of selling or communicating with customers will be a differentiating advantage.