We are now seeing an increase in the number of moms deciding to stay at home and work at parenting which, as some say, is a much more difficult job than anything else corporate. Stay-at-home parenting has been researched as yielding better school performance and a decline in stress and aggression among the children.
And then, there’s COVID-19. Since the pandemic struck, most of us have been working from home. Sadly, some are not as lucky as the rest because they have lost their jobs to the pandemic.
Staying at home, whether through pandemic or choice, does not diminish earning potential. It may sound counterintuitive to some, but these pandemic times can be an excellent opportunity to actually start a business. All one needs to do first is get accustomed to what everyone refers to as the “new normal” and focus business plans on how the pandemic changed the world.
This list includes five businesses to help you succeed in this time of COVID-19. If you do it right and stay committed, success can go way beyond the pandemic.
If you are keen on a specific area of expertise, you may want to start a consulting business. Become a financial adviser or financial aid planner. Be someone who helps other parents source for college education plans with the lowest cost. This is more than just about saving money, but more about creating a network of resources that you can navigate. You can also give your clients advice on the best colleges or universities, guide them on how to go about college applications, hook them up with applicable financial aid programs or scholarships, or even expand to provide aptitude tests to help the children refine the courses suitable for them. Market your services online, in high schools, libraries, or wherever there are students and parents.
But this is just one idea. You may go into human resources, leadership, or marketing consultancy. You can start a consulting business on your own at first, and then hire other consultants as your business evolves.
Online Consignment Shop
As a consignment shop owner, you don’t need capital upfront. Instead, you pay for your “inventory” when it is actually sold. This is also known as the drop-shipping model, where you are partnered with a third party (or parties) whose products are consigned to your online store. The third party, ideally wholesalers, who fulfills the orders will ship the items to you when you have the order. This is an excellent startup idea if you don’t have startup capital or product storage space. You may talk about a profit split with the third party or have them give you a wholesaler’s discount.
Home Repair Business
Home improvement is a dynamic industry. Most, if not all, homeowners will not balk at paying for professional repair, maintenance, or remodeling work on their properties. You do not need to do the work yourself; you manage and direct the costing, scheduling, labor, and sourcing of materials from home. And this is strictly a day job—unless, of course, you decide to expand to accepting emergency repairs. Even in the pandemic—or especially during this pandemic where people mostly stay at home—repairs still need to be done. And now people have time for the remodeling project they’ve always planned. Therefore, a home builder franchise is an excellent startup. This way, your business will be up and running in no time.
The demand for online education has been nothing but rising since 2020. Remote or distance learning has opened up opportunities for potential entrepreneurs. Like consultancy, this is an online business wherein you can choose a school subject (or subjects) you are highly knowledgeable about and offer tutorials online. The good thing about this is that location is no longer an issue — your student can be from a whole other continent. You can offer English tutorials, too, if academic teaching is not your forte.
Digital marketing will always continue to thrive as long as almost everyone in the world is connected to the internet. There truly is a market for digital marketing services as many small to medium enterprises prefer to outsource this function rather than do it in-house. If you are well-versed in web development and design, social media management, SEO, or pay-per-click, by all means, start a digital marketing services business from home.
Small home-based business ideas are mostly hinged on the online business model, especially as COVID-19 drove us all into lockdown. Despite the home isolation and the restrictive feelings it brings, opt to see the silver lining and start brainstorming on the right business for you. Everything, after all, starts with a glimmer of ideas and just grows over time.