While most small businesses in Canada are feeling the effects of the pandemic on their bottom line, some businesses are thriving. Pandemic-proof businesses, also called recession-proof businesses, are defined as industries that are thriving through hard economic times or at least survive unscathed.
- Comfort Food
When people are stressed and need a little pick-me-up, candy and comfort food are relatively inexpensive ways to self-soothe. In the early weeks of the pandemic, chocolate candy sales were up 21.1% over the same period in 2019 and ice cream sales jumped 34.5%.
- Information Technology
IT skills are in great demand, particularly during the pandemic when everyone is trying to figure out how to work from home, continue their studies online, and connect with family and friends. Systems administrators, software designers and cybersecurity specialists are all sought after workers.
- Repairs and Maintenance
In tough economic times, people are less likely to purchase a new car. Instead, they will take their vehicle to the garage and get any issues fixed there. There are also some repairs that cannot be avoided, pandemic or no, such as heating and plumbing.
- Discount Stores
People may have cut back on luxuries during the pandemic but will still purchase items that are not necessarily essential. Dollar stores are a great place to find inexpensive guilty pleasures. Also, most dollar stores offer groceries, thereby making it an essential service.
- Baby Products
Babies require various products, from bottles and diapers to clothing and car seats. Parents may not spend as much money on items as they would pre-recession, but they still need a diverse range of products regardless of the economy.
- Courier and Delivery Services
On May 19th, 2020, Canada Post set a one-day record delivering 2.1 million packages, about three times the volume it normally does. Not even the pandemic can stop the mail, with people ordering toys, clothing and even large household items, like barbecues and patio furniture. Food delivery has also skyrocketed in popularity, with companies such as Uber Eats and Skip the Dishes.
Other industries to consider:
– Health care
– Senior services
– Courier and delivery services
There are ample opportunities during (and after) the pandemic for industrious entrepreneurs. Need help knowing where to look? Contact Investiprise for more information! 514-793-7333