Most people are now thinking about where and when they will travel to, what restaurants they’ll dine at, and who they’ll be visiting as the pandemic ends. Entrepreneurs are finding hidden opportunities and doing the same thing they do in good times as well.
Summer is fast approaching, and the virus is finally in rearview mirror status. There are many opportunities available – if you know how to find them.
Although no one can predict the future perfectly, experts with experience and intuition can make educated predictions about which business models will be most successful in the post-COVID-19 era. GOBankingRates spoke to a number of professionals with diverse backgrounds that were able to do just that. Here’s a look at three niches and industries that are poised to thrive in the post-pandemic era. These options may be helpful if you are thinking about starting your own business.
Outdoor Event Planning
Indoor gatherings will eventually return. However, after the 2020’s ordeal, you can bet many people will choose fresh air if given the choice.
This reality makes one post-COVID-19 plan a clear opportunity that is waiting to be tapped.
The Corporate Market could be bigger than the consumer market
Outdoor alternatives are being explored by everything from art galleries to comedy clubs, but this trend is not just for entertainment. It also extends to the general consumer market. Businesses will reimagine traditional office parties, continuing education courses, and training seminars. This reimagining is likely to include the blue skies above after COVID-19.
It makes business sense.
Kumar stated that businesses should be able to cater to customers outdoors to maintain their business’s viability.
Parents across the country are thankful that their children are back at school. Or they long for it to be. Many others found that e-learning allowed them to have greater control and flexibility over their children’s learning than traditional 20th-century schoolhouse models. They know there is no turning back, at least not for long.
“One promising business model for the post-COVID world is e-learning,” said Ann Martin, director of operations at CreditDonkey. We’ve all seen how remote services have become increasingly popular. E-learning is an accessible learning option that is quickly growing to be a viable alternative for traditional education and training.
EducationWeek (EW) says Martin’s assessment is accurate. RAND Corporation’s survey of 300 schools found that 20% expect their online offerings to be expanded and extended in the months and years following the pandemic. EW reported that a different hybrid model was emerging in 2020. The physical school will serve as the hub of an extended e-learning community.
It’s difficult to imagine that many Americans will continue to be so casual about germs once the shutdown restrictions are lifted.
This leaves an obvious but huge opening.
“There will always be a local need in your community for cleaning services,” said Matt Lally, founder of TheGiftYak and former Silicon Valley account director at the digital marketing agency Wpromote. COVID has clearly raised concerns about office cleanliness and safety. Many of these companies will be forced to flee the country in an attempt to take control of larger metropolitan markets after a pandemic.
Lally’s position is supported by ReportLinker, a market research company. According to its data, the industry’s combined annual growth rate for cleaning will be 6% between now and 2026. There are opportunities for small businesses that sell or make cleaning products and materials, or who train or prepare certifications.
According to the report, there is a high demand for robotic and automated cleaning services, green cleaning service, and specialized cleaning services. This means that companies who break the mold of traditional janitorial practices are more likely to succeed.
The Corporate Market could also be the real gold mine
In 2021 and beyond, small businesses who deal with e-learning technology will reap the benefits of this technology. E-learning is a new market that can be exploited in corporate America, just like outdoor event planning.
Martin stated that e-learning is popular on an individual basis, but corporate e-learning has been the most exciting. “In today’s post-COVID world workplaces must adapt to changing customer expectations and business standards. Companies can access specialized training through e-learning to help them get on the right track. These companies will be popping up in the coming year, I believe.