We have not seen an economic downfall as this in recent times, but it is not true for all businesses. Some businesses are at its peak even at this time. Let us take a look at some of the business ideas that can make one a millionaire at the time of CoronaVirus.
One thing is as clear as the sky at this time. People are spending most of their time online as they cannot go out due to the lockdown issued by governments around the world for the safety of people.
App development business a boon
It is at this time that people will depend online for all their needs.This fact is clear from the data that Netflix has had its highest ever online traffic recorded so far.
Many app development companies are making huge profits by developing apps like Video games, online tutorials etc. This is the right time to invest in app development as everything is becoming online and people are going out less and staying indoors more.
Surge in the usage of online platforms
Same is the case with online grocery delivery. People are depending online to get what they want from groceries.
Delivery services are seeing a huge rise in India. Similarly the surge in the business of Pharma industries cannot be ignored. Companies that are involved in the making of medical equipment and products that help in the eradication of CoronaVirus are experiencing a huge rise in their business volumes. Companies which make sanitizers, masks and gloves are also seeing a growth in this time as the need for these items are burgeoning taking into account the need for precautions.
Also non contact deliveries are going to become a norm. Therefore companies that manufacture drones will be on high demand as more businesses will need their help to deliver effectively.
The online workout tutorials and fitness apps will see a rise in usage as people can study and workout only from homes during the time of the pandemic. The way people are approaching cleanliness has changed and it is likely to remain like that even after the pandemic gets over as a result of which professional cleaning service businesses will become more in demand.
The items that are connected with wellness and hygiene are already experiencing a great surge in sales and it is going to remain so even after the pandemic gets over. There is a large opportunity in this sector as the range of products vary from immune boosting supplements, herbal products, sanitizers, masks and disinfectants to name a few.
As people will spend more time at home, they are also likely to spend more on home gadgets which will make their lives more comfortable. For instance people who spend most of their time at home will want to do their own cooking and also work from home at the same time. So companies that manufacture appliances to help customers through smart cooking are likely to see their business booming.
As people want some diversion from their work and as they cannot resort to travel, there has been an enormous hike in the download of video games. The increase in the download of mobile games which shot up by 39% is testimonial of this phenomenon.
The field of automation is also likely to expand
As companies are changing the way they work video conferencing apps are on high demand. The shares of such companies are soaring high due to the high demand in the market at the time of this pandemic.
Flourish of e-commerce chains
Since people are reluctant to spend time in public spaces starting an eCommerce business will not be a bad idea as the demand for it is always on the rise even after the pandemic.
The profits of different online grocery delivery are also on the rise, as people are ordering fresh from groceries to prepare meals for their loved ones. If you would like to start a business like on-demand delivery, then you must have your own grocery delivery software to help you out in the current scenario.
The times are not tough for all businesses
As we have discussed here, the scenario is not the same for all businesses. You definitely have a great prospective if your business model adapts to the CoronaVirus pandemic. If you are looking to start a new business at this time the above options are sure to give you a headstart. Even though some businesses are struggling at this time, it is not the same for all and the growth prospects vary from one business to the other. So choose wisely and start the business that will give you the most out of this pandemic.