It has been a hell of a year. This year didn’t just affect our physical and mental health, but it also took a toll on many businesses. Despite that, it gives more hope for better opportunities in the coming year.
We can all agree that 2020 has been the year of many uncertainties. Even some of the biggest brands we know had closed down a few of their branches while others filed for bankruptcy. But the good news is that the pandemic opened our eyes to what has been working in the business world and what’s not. It made us realize more of what our strengths are too. Some even discovered new skills.
We now know how we can start again in this coming year, especially when it comes to business. And because of this, Entrepreneur Asia Pacific believes that 2021 is the best year to launch a business. If you’re set to run your own business, here are some ideas you might want to consider.
Food is a basic necessity. Thus, it is one of the most lucrative businesses that anyone can delve into. It offers endless categories for you to explore. You can choose from various cuisines and you can even add your twist to it to draw curious customers.
Plus, the demand is high, despite having numerous competitors. In fact, the demand for food is expected to go higher, according to a study from the investment bank UBS. A decade from now, experts expect that most meals are ordered online.
We also saw high demand for distance learning this year because of the pandemic. It’s a safer option than face-to-face classes. There’s no need for you to travel from one place to another to teach. And because it offers more flexibility, you have more freedom to juggle your career and life.
Online teaching offers affordability too. Because you don’t have to travel far from your home, you can reduce your financial costs. This also saves you from real estate costs.
Students and their families can also benefit from it as they too can cut costs on transportation and meals. On top of that, all of the learning materials are available online, which is more affordable.
Because most of us are stuck at home these days, the demand for video content increased. You can take advantage of this in the coming year and offer video editing services. It’s easy to learn plus you don’t need to purchase expensive devices.
Thanks to the advancements in technology, you can even edit videos using your phone. The best part of it is that some of the video editing apps for android and iphone come for free. It’s one of the lucrative businesses that don’t require a huge sum of money for capital.
As we make progress on finding treatments for the pandemic, there is a higher chance that more doors will open for opportunities for people to host more events in the coming year. Thus, a photo booth business makes a great idea. With the rise of the use of social media, no gathering is complete without it, which makes it worth considering.
This business has numerous advantages to offer. First, it’s portable. You don’t need to rent a space for it. You can easily carry your photo booth wherever, whenever.
Aside from that, it doesn’t require a huge amount of capital. In fact, you’d only have to spend less than $5,000.
The best part of it is that you don’t need to have a huge team to start this business. This kind of business doesn’t need a lot of workers to run. You can even start on your own, then eventually expand your team to accommodate more events.
Since most of us are often stuck at home over the past few months, many saw the advantages of courier services more. Hence, this coming year, such kind of business might blow up too. If you have your own vehicle, you can easily start your courier service. With this kind of business, you’re able to help customers transport important documents or products. You can also expand whenever you’re ready and hire more drivers to work for you.
While the pandemic brought so many challenges this year, it made us see how we can start again in 2021. It has also taught us about what the weak spots of capitalism are, so that we can improve on them and make a better future for the business world. These business ideas will surely help you start your own business even with low capital.