With the rising cost of overseas travel, domestic tourism is becoming more popular. Setting up a cozy guest house, perhaps by a lake or in the mountains, can attract families looking for a quiet and comfortable holiday in nature. A good idea is to offer additional services such as boat rentals, excursions, and tastings of local products.
Success factors: attractive location, family-friendly, quality service.
Franchise business
Ready-made franchises are, in most cases, a less risky option for starting a business. Choosing a proven company allows you to open your own business under a well-known brand, a proven business model and the support of the franchisor. This approach is especially relevant during a crisis, when starting from scratch becomes more expensive and risky.
Success factors: careful selection of the franchise, format compliance with local conditions, transparent terms of the contract.
Opening of a pharmacy
Pharmacies remain a popular business even during a crisis due to the constant demand for medicines, vitamins and health products. In addition to medicines, pharmacies can offer personal care products, medical products and products for children, adapting the range to current needs.
Success factors : convenient location with high traffic, well-chosen assortment, work with reliable suppliers, affordable pricing policy and loyalty programs.
Education and creation of training programs
During a crisis, interest in additional education and training courses increases significantly. People seek to improve their qualifications, master new professions or improve personal skills in order to remain competitive in the labor market. Online learning formats, webinars and trainings are becoming especially popular due to their convenience and accessibility.
Success factors : relevant course topics, experienced teachers, high-quality presentation of material, convenient platform for learning and flexible pricing policy.
Production of import-substituting goods
Sanctions and import restrictions create increased demand for locally produced goods. These may include household chemicals, cosmetics, hygiene products, components for equipment, food products, as well as high-tech products, such as microchips or car parts.
Success factors: government support in the form cameroon phone number library of subsidies, competitive quality, entry into the mass market.
IT technologies
The crisis is accelerating the digital transformation of business, increasing the demand for software, mobile applications, automation and analytics systems. IT solutions help companies optimize costs and improve efficiency.
Success factors : a team of qualified specialists, innovative ideas, the ability to scale.
3D printing
3D printing technologies are becoming increasingly popular in various industries: from medicine to decor. With the help of 3D printers, you can produce individual medical products, casting molds, souvenirs, repair parts, and even prototypes of new products.
Success factors: creativity, use of modern materials, access to specialized equipment.
Pet products and services
The market for goods and services for pets maintains stable demand even during the crisis. Pet owners continue to buy food, toys, accessories, and also use veterinary and grooming services. Business in this area can cover both specialized stores and services such as mobile grooming or home delivery of food.
Success factors: high-quality and safe products, availability of popular brands, additional services (veterinarian consultations, individual selection of food), convenience for customers (delivery, online orders).
Agriculture and agribusiness
In times of crisis, demand for fresh and affordable local products is growing. This creates favorable conditions for small farming, growing organic vegetables and fruits, and producing products with a long shelf life.
Success factors: environmental friendliness, stable distribution channels, innovative agricultural production methods.
Repair shops
During a crisis, many people prefer to repair things rather than buy new ones. Repair services for electronics, household appliances, furniture or shoes remain in demand, especially if there are qualified craftsmen.
Success factors: high-quality service, prompt order fulfillment, reasonable prices.
Commission shop
The crisis increases interest in stores where you can buy used items in good condition and at reduced prices. This could be clothing, household appliances, furniture or sporting goods.
Success factors: cleanliness and order in the store, careful selection of product range, active promotion.
Dropshipping
This is a business model where the entrepreneur works with suppliers who send goods directly to the buyer. Such a business requires minimal investment and allows you to quickly start working, which makes it attractive in times of crisis.
Success factors : selection of reliable suppliers, competent marketing, creation of a convenient online store, competitive prices and high level of customer service.
Products for children
The market for children’s goods always maintains high demand, even during a crisis. The production or sale of food, clothing, toys and other goods for children can become a profitable business.
Success factors: product safety, affordable cost, attractive design.
Electronics and microelectronics
The demand for this group of goods continues to grow even in times of crisis, when the need for inexpensive but high-quality products increases. The production and sale of components for equipment, such as diodes, boards, microcircuits, transistors, as well as accessories for gadgets, can become a profitable business.
Success factors: availability of components, high-quality assembly, working with trusted suppliers, attention to new technological trends and demand for innovative devices.
Business in the field of medicine
The medical field always remains relevant. Opening a medical center, laboratory, manufacturing medical products, supplying and selling specialized equipment can become a profitable business. Services related to the prevention, diagnosis and treatment of chronic diseases are especially in demand.
Success factors: compliance with all regulatory requirements, licensing, qualified specialists, availability of services, availability of modern equipment, focus on customer needs.
Own blog
Online content is in demand in a variety of niches – from personal consultations and life hacks to product and service reviews. As the blog grows and develops, it can be monetized through advertising, affiliate programs, and selling your own products and services.
Success factors : high-quality and useful content, constant interaction with the audience, active promotion through social networks, as well as the choice of niche and monetization strategy.
Outsourcing
Outsourcing secondary tasks will help reduce the company’s expenses. In this niche, you can open a business providing accounting, personnel, legal and IT services.
Success factors : professionalism, confidentiality, availability of reviews and recommendations.
Entertainment and games
With a limited budget, people increasingly choose inexpensive but interesting ways to spend time. Therefore, a business related to entertainment (online games, quests, VR entertainment) can be very profitable.
Success factors : originality, accessibility and convenience for customers, active promotion, creation of exciting content or services that will ensure audience loyalty.
Building materials
Even during a crisis, people continue to do repairs, work your way especially when it comes to inexpensive materials for minor repairs. A business manufacturing or selling such products as paints, sealants, fasteners, and tools can be very profitable.
Success factors : competitive prices, local production, product availability.
Conclusions
A crisis is a challenge and at the same time a contact lists unique opportunity for business. To succeed in unstable conditions, it is important to understand the needs of the market, be able to adapt and not be afraid of risks. Crisis time is a time of change, and those who can quickly accept the new rules of the game will take a leading position in the market.