On May 13, the Centers for Disease Control and Prevention (CDC) announced that fully vaccinated people in the United States could already return to their usual outdoor and indoor activities without wearing masks nor physical distancing in any size of gatherings. On June 10, the U.S. Census Bureau released data from May showing that there were 500,219 new business applications for that month alone. This represents a 1.2 percent increase from April.
It is, indeed, a good time to start a new business. As of July 9, the CDC reports that 47.8 Americans or 158.6 million people have received full vaccinations, and the number continues to increase by the day. These are people who are raring to go out of the house to enjoy themselves dining, shopping, and engaging in various types of recreational activities. New businesses will have an eager clientele for their goods and services.
The Food Business
The food business was alive and well even before fully vaccinated people could go out without masks or physical distancing. People still ordered food for curbside pick-up or delivery. The experience of dining out is still different, though. People cooped up at home for over a year are suffering from cabin fever and want to dine in new surroundings.
If you are new to the food business, getting a franchise is the best way to enter the field. For instance, for the franchise cost of a sandwich shop, you gain the brand’s loyal following and popularity. You will also receive a complete product line and full training for your staff.
You will not have to go through the trial and error of creating the right menu, learning how to balance inventory, source suppliers, and train everyone from the kitchen staff to the servers. The franchise will even help you choose and secure the best site for the business and provide marketing assistance. It is like a plug-and-play type of business.
When choosing a franchise, it is best to research the track record of the company. Choose one that has been in the market for many years. Look up how its franchisees are doing. For a stable franchise, it is well worth the price of paying a percentage of gross revenue every month as royalty.
Many weddings postponed during the height of the pandemic are pushing through once the couple, their families, and their guests have been fully vaccinated. Wedding organizers will, therefore, have a lot of work available.
Apart from weddings, there will be many other celebrations such as bridal showers, bachelor parties, wedding anniversaries, milestone birthdays, gender reveal parties, christenings, and more. You can set up various event planning packages, from the most intimate budget gathering to the most extravagant.
One advantage of event organizing is that you can earn additional income from commissions you get from all the suppliers you involve in the project. It is, therefore, important to establish a wide range of contacts from budget suppliers to high-end vendors. This includes venues, catering, décor, photography and videography services, and souvenirs. If you and your team have skills in crafts, you can earn more by doing the décor yourselves and sourcing the raw materials.
Many people continued their exercise regimens at home during the pandemic. Some even set up home gyms with various types of equipment. Still, the experience is different from the energy of joining a class such as a dance class, aerobics class, spinning class, yoga class, tai chi class, martial arts class, and more. You can limit participants to those who are fully vaccinated to ensure the health and safety of everyone. All instructors and staff must likewise be fully vaccinated.
You can put up the entire business by yourself and hire experts as trainers. Alternatively, you can put up the majority share of the capital and invite experts to be part owners. This way you can ensure the loyalty of your trainers.
The Perfect Time to Start an Enterprise
There are many other types of businesses to explore. The Business Insider cites several successful businesses that began during previous U.S. recessions. General Motors opened during the 1908 recession. Hewlett-Packard started in the recession of 1937-1938. Burger King was set up in the recession in the 1950s. Hyatt Hotel and Trader Joe’s were first opened in the recession of 1957-1958. Microsoft was set up during the 1973-1975 recession. CNN started in the recession in the early 1980s. Uber and Airbnb were set up in the recession in 2007-2009.
As the country is starting to pick up the pieces from the pandemic, it is the perfect time to become an entrepreneur. It is the American spirit of making bold business decisions that have always kept the country afloat.