In times of uncertainty, starting from scratch can be a way to earn extra income or circumvent unemployment. However, this period brings many questions for those who want to take a chance on their own business. After all, what to sell in the crisis?
There is an extensive list of items that can be traded to earn money. Among the options are products for resale, crafts, clothing, personalized merchandise and more.
With that in mind, in this article we will present you with some ideas of what to open in this moment of crisis and guarantee an extra income. So let’s go? Check it out below:
1. Resale of products
Reselling products is an excellent option for anyone thinking of starting a home business, as it does not require manufacturing what you want to sell.
The segment is suitable for those who are thinking of setting up a virtual store, since it is possible to publish the goods and sell them throughout the national territory, with logistical, commercial and administrative processes centralized on the same platform.
Among the main products for resale are cosmetics, clothes, lingerie and other items. Therefore, the first step is to consider the types of goods that you have the most affinity for to start selling online in the crisis.
2. Sale of food
According to a survey carried out by Statista, Brazil was featured in the delivery segment in Latin America in 2020. Alone, the country was responsible for almost half of the market, reaching 48.77%.
So, with more and more people ordering food at home, the food and beverage segment can be a good bet on what to sell at this time of crisis.
In this way, it is possible to think about the elaboration of frozen foods, cakes, brownies, sweet or savory. Also, to pack the food, you can add value and ship it in tupperware, charging the value of the container.
3. Online courses
Another idea on what to sell in the crisis is online courses. If you master a subject, how about putting together a quick course on it and sharing it with people?
It doesn’t have to be a very complicated or technical subject. The sky is the limit: you can teach, for example, how to manage social media, practical house cleaning tips, how to cook sweets, teach English, etc.
4. Online thrift store
Who has never felt relieved to rid their wardrobe of some clothes them no longer use? Even better is being able to put these pieces up for sale in an online thrift store.
Depending on the type and quality of the product you get for the store, it is possible to have a profit margin and still help people who are looking for exclusive or vintage goods, but for some reason have already been discontinued in the market.
Here, remember to be careful with the curation of articles. Select the types of clothing that you believe are in good condition and can be reused for use.
5. Dropshipping store
Dropshipping is a business model in which the inventory, processing and shipping of products are the responsibility of the supplier of the goods (not the merchant).
In this sense, opening a dropshipping store can be a profitable model for the crisis, as it solves a major bottleneck for people who are starting a business from scratch: high expenses with inventory.
Another advantage is that this type of business has a low initial cost. As products for sale are manufactured, stored and shipped by dropshipping suppliers, there is no need to invest in hiring employees to manage inventory, purchase raw materials or rent storage space.
If your option is to make online sales, e-commerce platforms such as Shopify allow integrations to facilitate this sales model. In this case, the system allows direct connection to products available on AliExpress, for example.
There are several sites that connect self-employed professionals and clients interested in services. Thus, working as a freelancer can be an income option in times of crisis.
Generally, in the case of areas of marketing or technology services, requests can be made online.
Some examples of platforms that offer this type of connection are Upwork.com, PeoplePerHour.com and Freelancer.com.
7. Affiliate Program
The affiliate program, also known as affiliate marketing, is a good option to earn extra income in the crisis.
Briefly, the affiliate program works like this:
An affiliate receives an invitation from a brand to advertise the products on personal or business social networks, on a sales website or blog;
Every time a customer purchases a product through the ad, a sales commission is generated.
Fashion represented a total of 42% of all e-commerce sales in 2021 in USA. In other words, the clothing segment is a good choice to sell at this time of crisis.
As it is a competitive market, it is essential to specialize in a niche market, that is, to define a sales segment that meets a need that has not yet been resolved by other competitors.
In addition, it is important to define your sales channel. Will it be a physical or virtual store?
If you choose to sell online, an e-commerce platform can be the solution.
With Shopify, for example, you can set up your virtual store without the need for technical knowledge and at a lower cost than hiring a professional to develop it.
If it’s the physical sale, remember to search for busy regions and close to stores relevant to your business.
9. Handcrafted products
If you have any manual skills, how about starting to sell online in the crisis? For this, invest in good photos of your handmade product.
With your own smartphone it is possible to take pictures, but remember to pay attention to the lighting, the clicked angles and the editing of the images.
Have you ever thought about starting a blog? If you like to write, this is a powerful marketing and monetization tool, as you can make sponsored posts, make space for third-party ads or partner brands, and even sell products.
This type of business is a long-term bet: the results do not come right away, but with a well-defined strategy, the possibility of being something positive is very high.
Now that you’ve decided what to sell in this time of crisis, it’s time to start putting the plan into practice. For that, here are some tips:
Define the sales channel
If you are planning to sell online in the crisis, it is essential that you define a channel to advertise, offer and market these items.
In addition to choosing a domain name, you also need to select the store theme and customize it.
Shopify, for example, offers these benefits to all stores that use the solution, in addition to having a server stability technology, which allows e-commerces to stay online for 99.9% of the year.
Another option is the marketplace, that is, a kind of virtual mall that brings together several sellers with different offers. Ebay, Etsy and Amazon are examples of sales channels in this segment.
Finally, if you opt for physical sales, look for a region that has a good flow of people.
Look for suppliers and partners
Each sales model will have its particularity, but the search for suppliers and partners for your business is essential for the reputation of your business.
Stay alert to the quality of services offered and delivery times. After all, offering products that meet customer expectations can be a good strategy to retain them.
Check your finances
Make sure it is financially viable to get the project off the ground. After all, we are talking about what to sell in the crisis.
See, for example, the initial costs to launch your business and make a profit projection.
Also, validate your idea. Do market research, analyze competitors and see if there is room to develop it.
Throughout this article, we have seen some tips on what to open in this time of crisis. Remember to start small, one step at a time, and test each solution that makes sense for your business.