Unsurprisingly, people want to find new ways to earn money to improve their financial stability.
COVID-19, however, makes things difficult.
Finding a part-time position could be difficult because many businesses are closed or have laid off employees. It’s also risky to earn money on the street due to lockdown measures and the possibility of infection.
Here are five free business ideas to earn money during the coronavirus epidemic.
Start Dropshipping
Ecommerce is expected to grow. IN FORBES, Shelley E. Kohan, a business strategist and professor at the University of California Berkeley, wrote about “coronavirus concerns that may drive U.S. online sales beyond 2020 forecasts.”
In March 2020, Stackline, a software company for retail, reviewed ecommerce sales in the U.S. and identified the 100 top products that were gaining and losing sales.
Unsurprisingly, the surge in fitness and office products for home resulted from the lockdown.
Also, they saw a decline in apparel and travel products.
Visual Capitalist created a graphic highlighting the ten products with the fastest growth and ten with the most rapid decline.
How can you use this information? It’s easy: open an online shop and sell products in Demand.
Dropshipping is an online business model where you sell your products but don’t store, package, or ship them to customers. Instead, the supplier does.
Dropshipping is a great way to make money quickly.
Tim Kock, for example, built a dropshipping shop from scratch. Generated $6,666.73 in revenue in only eight weeks.
Let me be clear: I am not a genius. “I’m an ambitious entrepreneur like you with a great drive to succeed,” Kock stated. “I had to run this business on top of my 9-5 job, which isn’t even related to ecommerce. I worked on my store at night or on weekends.”
How to start a dropshipping business
Selling products online is a quick way to make money if you’re in a hurry.
Shopify lets you create a website for e-commerce without any coding. What’s the best part? No credit card is required to use the service for 90 days.
You can then use DSers to find new products for your store.
You can dropship millions of products in just minutes with this free service.
You’ll need marketing to increase sales.
You can do this in many ways, including Facebook marketing or influencer and affiliate marketing.
Start a Print-on-Demand Business
Print-on-demand is similar to drop shipping.
The supplier will handle the packaging, storage, and shipping.
One key difference, however, is that the print-on-demand business model allows you to customize your white-label products with your designs.
Here’s a quick run-through of how it works.
You can start by creating an online shop that sells products with your designs (such as T-shirts, bags, and notebooks). Your supplier is waiting for generic versions of the products.
The supplier will print the design of your choice on the product and then ship it to you. They’ll even print your brand’s logo on the packaging, making it look like you sent it.
According to Google Trends, the interest in print-on-demand businesses has consistently grown over the past few years.
This business model is similar to drop shipping, requiring little or no investment. Print-on-demand is an excellent option if you are in a hurry and have a knack for design.
Here are some products that you can order from the print-on-demand service Printful.
How to start a print-on-demand business
Set up a Shopify Store and then use a Print on Demand App, like Printful, the launch, or Printify.
Check out Stackline’s latest research to see how COVID-19 will affect ecommerce. This should help you find great products to sell and identify products you should avoid during the lockdown.
Online marketing strategies will help you grow your sales, just like drop shipping.
Unsure whether to choose dropshipping or print-on-demand? You might find that our collaboration with Wholesaleted can help you choose the best business model.
Start tutoring and teaching
Online tutors around the world are in high Demand.
Coronavirus has forced more than 1.7 billion students to leave schools worldwide. Many of them have gone online.
Since the outbreak, online tutoring platforms have been used at a rate of 50 percent more.
The online wellness industry has exploded as millions of people are stuck at home because of lockdowns. According to The Economist, “meditation apps are on the rise, as well as digital fitness classes and online cooking courses.”
Online training could also be a good option for people who want to improve their skills or qualifications due to business closures and layoffs.
Google has a surge of results for “online tutoring.”
If you need money right now, consider tutoring, teaching, or instructing online.
How to Become a Freelancer
Freelancers are self-employed individuals who provide services to multiple customers. Freelancers usually charge project-based rates or hourly rates for the work they do.
One of the fastest and easiest ways to earn money is by doing what you already do for your clients.
In recent years, freelancers have also become more popular.
A study by the Freelancers Union in 2019 on freelancing and America and an online platform for freelancers, Upwork, found that four million people began freelancing from 2014 to 2019.
What is the best part of all? The study also found:
Freelancing gives people the flexibility they need because they cannot find a job with a traditional company due to their circumstances.
This statement is especially true when COVID-19 hurts the economy.
The MBO Partners State of Independence Report also provides a snapshot of independent workers. In 2019, the report revealed that:
More than half of independent full-time workers said they felt more financially secure as independents compared to traditional jobs, a record high. Seven out of ten independents plan to stay on their current path.
The business world is more open to remote workers than ever before.
Google Trends showed a surge in searches when COVID-19 was released in mid-March 2020.
Freelancing is a good option if you are in a hurry to make money.
How to become a freelancer
If you want to earn money quickly, you have three options.
These marketplaces allow you to create an online profile and connect with clients looking for freelancers. They also take a percentage of your earnings.
You can also find work by yourself using your LinkedIn or existing contacts.
You can also build a website and market it via methods such as SEO or advertising on LinkedIn. This method is the most time-consuming.
