We’re currently battling with the toughest situation we could ever face for several decades or even centuries.
Several shops started to closed due to health afflictions. Restaurants and other market industries started to closed down. There’s little to no employees who’re willing to work nor clients and consumers who’d want to consume other things besides necessities.
If we were to look back a few months, we’re entirely in a different moment! No one ever imagined this to happen.
And sometimes, to keep our lifestyle going and necessities running, we have to think of a way to earn money. Instead of giving you the best business advice to start, let’s look into a different perspective, and discuss what are the 5 worst business you have to start in the year 2020.
Social Media Manager Agency
Indeed, this field has something to do with keeping one’s social media active for marketing campaigns, increasing brand awareness, and creating activities that would be beneficial for a certain business or client.
But here’s the thing, almost every business establishments, apart from grocery stores or supermarkets, are closed due to the pandemic!
Business owners started to cut down their budget, and this includes the one reserved for advertisements. They can’t even pay rent for their physical stores anymore!
Sooner or later, they would ask the social media manager or agency to stop handling their social media accounts because the budget is no longer in hands.
So if you plan to start right now, the tendency is to lose your job at an early start. If you’re still eyeing this field, you may want to wait for a long time to get their effectivity again.
Amazon FBA
Beforehand, it’s costly to get started. This means if you plan on being a part of the Amazon FBA team, you must have quite an amount of investment. As far as we know, you have to at least spend $4000 on the inventory to be shipped on Amazon FBA (Fulfilled by Amazon) warehouse.
This marketplace requires third-party shipment from you or the seller shipping warehouse or wholesale products to the Amazon FBA, and to other multiple channels as well. In turn, Amazon FBA would have to do the work – preparing, packaging, shipping, the products for you!
However, Amazon FBA currently only accepts essential supplies so if you plan to sell products out of this category, you have no chance in the field! What’s more disappointing is there’s no guaranteed date where they can allow suppliers from different industries to start delivering packages again.
Likewise, there are a few numbers of people who are willing to deliver products, and packages tend to get stuck in one place. As a result, people would start complaining, and you might lose several customers, and received bad reviews on the website.
High-ticket selling
I know how bored you must feel staying at home all day, eating your stored foods, watching plenty of movies on Netflix, and the routine gets continued.
This is why people who have skills either develop it or take it to the next level by teaching others how to manifest the same skill. This is what you call the ‘high-ticket course selling’.
But come to think of it, would it be the best time to spend a thousand dollars on a single course? Sure it’s beneficial but people prefer to spend money on food, and other necessities.
So does who already started or planning to sell expensive online courses is most likely to meet a huge mess. Almost 30% to 40% loss of students are in the equation, and many more to come if this pandemic started to prolong longer.
Bitcoin Trading
Entering a bitcoin trading is not a business but a gamble! The only reason we included this option is that this can help you earn money, and fortunately enough, to put it on your business as revenue.
But it’s all about volatility and prediction. This means the price can go up, but after a week it can go really low! Today’s condition worsens this market vulnerability into going recession.
It would really be the worst time for beginners to do it. And things would get much wost before
they find their way to becoming effective again.
Travel Agency
Imagine how sensitive you’d look like if you plan to push on trips while in crisis.
Exactly! It’s dangerous for anyone, especially that we have no chance of predicting what future outcomes are.
And even before the pandemic, budget-conscious travelers can already book affordable rates in the most popular traveling websites such as Expedia, Booking, and Agoda.
There’s no need for someone to cut from your budget, and do the booking for you. So before posting about the best deals people can get from your agency, think about it twice!
Starting a business doesn’t mean you have to spend lots of money nor follow after what’s in. You just have enough sales skills that would help you focus, and be wise on the market you going to establish, and audience to cater.
As the condition worsens, try to find a way to keep earning. Take advantage of the situation on what you can provide to the market. This is not the buy thousands of alcohol just to sell them on a triple price kind of thing. But think about how you can help people especially those in quarantine or isolation.
To your success!
