What business to open in a crisis
Now, not only in Russia, but throughout the world, difficult times have set in. The economic crisis, recession, shrinking effective demand, unemployment and even a phenomenal drop in oil prices - all this has been woven into a single tangle of problems tied to the coronavirus pandemic.
Nevertheless, this is the time when you can not only survive, but even start a new entrepreneurial activity, because just such a negative background can be very favorable for some profitable types of business. Well, let's try to compile our own list of promising types of entrepreneurial activity and answer the question: what kind of business to open during the crisis in 2021.
A unique time has come right now in the country (and in Moscow in particular). First, the value of the national currency has fallen significantly - there is no point in sitting and waiting until the ruble finally “stiffens”. On the other hand, one of the news of recent days is information that franchise projects massively reduce prices and make the conditions for starting cooperation more liberal.
Well, it seems wise to take advantage of this. Pick a topic that is experiencing the biggest drop in prices right now - for example, a hookah bar - and start building your business:
- Firstly, now you can find extremely cheap rentals even in trendy places in the city center.
- Secondly, you have a whole month to repair and equip.
- Third, by the time the country leaves self-isolation, you will even have time to conduct an aggressive promotional campaign!
Now the cost of acquiring a franchise is so low that it would be correct to say that it is being given away literally for nothing. It would be foolish not to use this idea.
Online commerce: own store
As a last resort during an epidemic, the authorities in many cities in the country (including Moscow) are introducing bans on the work of large retail chains. The only exception is food hypermarkets. However, human needs for consumer electronics and materials for repairs are still there. Why don't you try to make money on this and open the simplest virtual store specializing in goods for repair (with a couple of dozen names) and selling household appliances.
Large suppliers of both have warehouses now definitely overstocked (demand has decreased), which means that you have a bargaining chip in the price negotiations. Simply put, you will be able to achieve significant discounts even for small quantities of purchased goods. In addition, all you need to start your business is:
- a simple landing page (no "bells and whistles");
- an efficient CRM system that allows you to administer sales;
- a warehouse for purchases (a simple garage that can be rented will do).
Do not spare money on advertising, analyze demand and develop your assortment in the most popular directions. And if the government's self-isolation regime is extended for another month, you will no longer want to go back to your usual job, because your income from Internet commerce will exceed your potential earnings in the last place of employment.
Online commerce: store on an international trading platform
You can hear different opinions about starting a business in a crisis. Some believe that entrepreneurial ambitions should be postponed until better times, otherwise you risk losing all your money. Others, on the other hand, see the crisis as fertile ground for change. Bankiros. u understands what kind of business to open in a crisis and whether it is so dangerous to start a business when the economy is in recession.
What happens to business during the crisis
During the crisis, small and medium-sized businesses face serious problems - investors do not want to invest in new projects, partners do not fulfill their obligations, there are interruptions in revenue. Therefore, in a crisis there is no task of reaching super-profit: it is enough to simply manage your enterprise without losses - and this is already considered a successful business. This, by the way, is the main feature of anti-crisis entrepreneurship: companies minimize losses and strive to survive an unfavorable period, without approaching the danger zone - the bankruptcy zone.
At the same time, the impending crisis is a reason to revise the strategy, take a fresh look at the market and look for fresh solutions. It was during difficult times that many entrepreneurs made their mark.
What are the dangers
For young businesses, the crisis hits harder: newcomers need not only to stay afloat in the recession, but also to start successfully - to attract the first customers, partners and investors, to lay the funds for further development. Why is it especially difficult in times of crisis:
- There are massive redundancies - people can lose income altogether. Because of this, the labor market is growing, and the purchasing power of the population is falling;
- When real income decreases, people first of all care about basic things - they satisfy their needs for food, clothing and housing, and they do it at minimal cost;
- Due to low incomes, the population spends less and thinks more about the future. In a crisis, it is difficult to introduce something new: all free money goes to "stash" and replenishment of stock;
- The psychology of spending is changing - in a crisis people make purchases less often and approach them more selectively. For example, instead of shopping, they start to visit second-hand shops, and old equipment is repaired instead of buying a new one.
Why is it worth starting a business in a crisis
You can look at the danger of a crisis from a different angle - then opportunities open up behind them. Here are some considerations for starting your own business during a crisis:
- Difficulty with employment
This was mentioned above - in a crisis, people are massively laid off, their wages are reduced or they are given a double burden. During such periods, it is difficult to find an interesting offer on the job market, and employers do not give job seekers firm guarantees. Why not try a business? Independence will give you your business: there is no longer a boss over you, time and effort will be spent on the implementation of your own ideas.