As the global health crisis continues to affect almost all aspects of our lives, businesses keep closing left and right. According to CNBC, around 7.5 million brick-and-mortar establishments are at the risk of closing by the end of the year.
Almost two-thirds of entrepreneurs have expressed that they might permanently close their doors if the disruption brought about by the pandemic persists for the next five months.
So what’s in store for American businessmen and entrepreneurs?
Forbes writes about opportunities that are not lost to Americans during this time, which are what startups and established businesses can still capitalize on. Whether you own used car dealerships or a comic book shop, several short and long-term opportunities are present in this season.
At this point, the American’s adaptability and creativity are crucial to turning things around for their businesses and establishments. Several businesses have been making some noise online about how they changed their business format to help mitigate COVID-19’s effect helping their business stay afloat and their people employed.
For instance, a Portland gentlemen’s club turned from a stripper joint to food delivery and drive-through service. They made the necessary adjustments to still maintain their operations despite social distancing protocols. Of course, the service they are known for is still included in the package albeit slightly modified.
As far as opportunities for business are concerned, entrepreneurs and business owners can either temporarily reformat their company to help meet the present demands now or completely overhaul it for the long haul.
Short-Term Business Ideas
- Cleaning Services – With the emphasis on observance of proper hygiene and sanitation to help keep the coronavirus at bay, business owners can transform their business and offer cleaning services for the time being as they wait to resume their normal operations. Of course, CDC guidelines should be strictly followed.
- Stylized PPEs – Other than the basic PPEs, a lot of people have taken to personalizing and stylizing their masks, face shields, gloves, and sometimes even hospital gowns. If you have enough manpower and the right equipment to cater to this certain market, it will help bring some money your way.
Long-Term Business Ideas
- Delivery Services – As restaurants and other retail shops stay closed physically, a lot of them are still operational but have only changed their mode of service to curbside pick-up or delivery. You can start a delivery service business to help fill in the gaps as the need for more delivery vehicles increase under the new normal.
- E-Commerce – While essential businesses stay open during this time, non-essentials that have closed their doors have brought their wares online on different e-commerce sites. Expect a spike in the number of online shops and services as people change their shopping behavior and bring their money online.
- Cyber Security – As almost all businesses have turned to the online platform with online purchases, Zoom meetings, and remote work, the need for stronger and more secure cyber protection will increase.
- Remote Fitness – With gyms across the country shutting down, health and fitness enthusiasts have been turning to online fitness classes and coaching to still maintain an active and healthy lifestyle despite the new normal.
At this point, we need to adapt to the situation and not let it defeat us. We have always stood strong in the face of the hardest challenges. A little creativity coupled with grit and determination will see us through. It is going to entail a lot of hard work, but nothing’s impossible for the American people.