Businesses Thriving During COVID-19 and Positioned for Growth as New Markets Emerge
The COVID-19 pandemic has rippled through the U.S. economy, with many non-essential businesses shut down. Yet, some businesses, those we rely on most, are still going strong, and many are thriving.
The market has been disrupted and many businesses are uniquely positioned. With stay-at-home lifestyles and heightened safety precautions, consumer behavior has changed, leading to new opportunities.
If you’re looking for a solid business to buy, a recession-proof staple that shows future earning potential in a post-COVID-19 market, consider buying one of the following businesses:
Grocery Stores, Liquor Stores and Essential Retailers
Since COVID-19, millions of stay-at-home Americans have been stocking up on groceries, liquor, pet food and other essential items. Home delivery service has skyrocketed and retailers are responding by hiring additional labor, partnering with delivery service providers, and investing in online ordering systems. Demand for home delivery is expected to continue as more consumers shift to this new way of shopping.
- Liquor Stores
- Grocery Stores and Supermarkets
- Convenience Stores
- Pet Supply Stores
- Veterinary Clinics
- Hardware Stores
- Gas Stations
- Truck Stops
Medical and Healthcare Businesses
Everyone relies on some sort of medical or healthcare service, whether to treat an illness, fill a prescription or order medical supplies. Since COVID-19, there’s been a surge in demand for medical supplies, pharmaceuticals, online doctor visits, and other medical services. Moreover, with people living longer and our population aging, there will be an increased demand for medical products and healthcare services, including home healthcare and assisted living facilities.
- Medical Devices and Products
- Medical Practices
- Home Healthcare Services
- Assisted Living and Nursing Homes
- Medical Billing
Cleaning Services, Laundry, and Waste Disposal Businesses
Since the COVID-19 pandemic, demand for deep cleaning and sanitation has surged. Cleaning companies have been fast at work wiping down and sanitizing businesses, households and healthcare facilities, trying to prevent the spread of infection. This has gone hand-in-hand with a growing demand for hazardous waste removal and commercial laundry services. Furthermore, OSHA has issued new sanitation guidelines for businesses in the wake of COVID-19, which are expected to continue going forward. As the economy opens up and more businesses resume operations, this expands a new market for deep cleaning and sanitation services.
Locksmiths, Auto Repair and Other Essential Services
Regardless of economic conditions, many services will always be necessary. Whether we’re faced with an electrical outage or pest problem, the issue must be dealt with. These businesses are recession-proof staples that are consistently in demand.
- Legal Services
- Security Services
- Pest Control
- Towing Companies
- Auto Repair & Service
- Marine & Boat Service
- Electrical & Mechanical
- Plumbing & Water Treatment
- HVAC & Refrigeration
IT Services and Online Support Technology
As our society becomes increasingly digital, we have grown to depend on a wide range of information technology services, including tech support, cyber security, website design and software development. Since COVID-19, there’s been an increased demand for services to support remote working environments, online education and telemedicine. These virtual practices, which are in many ways cost-effective and convenient, are expected to continue into the future.
Warehouse and Logistic Businesses
Storage, distribution and shipping of essential goods and services is vital to the global supply chain. Related services, such as packing, inventory systems and freight equipment are also essential. Since stay-at-home orders were put in place, online ordering has skyrocketed, putting additional pressure on trucking companies and delivery services. Home delivery is expected to remain popular post-COVID-19.
- Moving and Shipping
- Trucking Companies
- Delivery Routes
- Storage Facilities and Warehouses
- Packaging Companies
- Wholesale Distributors
Many industries rely on the manufacturing of electronics, building materials, paper products, fuel and other essential goods. It’s no secret that protective masks, ventilators and other equipment, as well as cleaning supplies are in high demand as we fight the spread of COVID-19. Demand has also increased for home office equipment and electronics. Since the US-China trade war, the U.S. has taken measures to become less dependent on foreign goods and increase manufacturing of domestic products.
- Chemical Product Manufacturers
- Medical Devices and Products
- Electronic Equipment Manufacturers
- Energy and Petroleum
- Furniture and Fixtures
- Industrial and Commercial Machinery
- Machine Shops and Tools
- Auto, Boat and Aircraft Manufacturers
- Metal Products
Food Producers, Distributors and Restaurants that Deliver
Everyone needs to eat, right? A vast number of businesses across the country are responsible for producing food, manufacturing food products and providing food services for both people and animals. While many restaurants have closed their doors to prevent the spread of COVID-19, more are offering delivery and take-out services through delivery apps and social media. Pizza restaurants in particular, have seen business skyrocket.
- Pizza Restaurants
- Food Manufacturing and Related Products
- Restaurants with Delivery
- Catering Companies
- Tree Farms and Orchards
- Vineyards and Wineries
- Greenhouses & Nurseries
- Cannabis Growers & Other Farms
Financial Service Businesses
We will always need banks and other financial organizations to provide credit, liquidity and depository services to keep businesses afloat, as well as accountants to manage our finances and do our taxes. Plus, insurance companies will always be needed to provide medical, auto and other forms of coverage. These businesses continue to serve customers during both prosperous times and economic downturns. If you have a flair for financial services and enjoy working with people, these businesses could be a solid investment.
- Accounting & Tax Preparation
- Banking & Lending
- Check Cashing
- Insurance Agencies
- Pawn Shops, ATM, etc.
Even as many parts of the U.S. economy are unable to operate at full capacity, these essential businesses are humming along as usual, and many are even thriving. The post-COVID-19 world will bring growth opportunities for many of these businesses, and many of them are for sale right now.