Business Survival Tips and Niches That Will Thrive In A Recession Or Crisis
Businesses have closed down as mandated by the government and Cities are getting locked down to avoid further spread of the pandemic virus. This situation has significantly impacted the economy and people think that everything has shut down. Manufacturing companies are actually open the same with the freight companies.
How Does This Affect the High Ticket Drop Shipping Businesses?
High ticket drop shipping industry is not as badly impacted as other businesses because of the following reasons.
- The products are big in size and are stored in warehouses across the US.
- These warehouses have an automation system that does not require a large number of workforce to manage the activities inside.
- They have all the devices and machines that are needed to move products around.
- The warehouses are not crowded making it safe for the few employees to report to work and process orders.
- Freight companies are open because they have to deliver essential orders to people and so they can also deliver other products.
- The home quarantine makes people stay at home and do some house projects.
- People also think of ways about survival living.
Below are some of the hot high ticket niches that are doing good right now.
- Off-grid living – RV supplies
- Survival Supplies – Solar Powers
- Safety and Security Supplies – Firearms
- Hospital Equipments – Wheelchairs, Medical Machines
- Medical Supplies – Products purchased in bulk
How to Scale Your Business at Times Like This?
- Product Contents – Creating blogs, YouTube videos about products. Look into places where people are looking at right now. Most people are online
- Run Ads on products that have enough stocks.
- Run Retargeting Ads.
- Send emails to your lists about your blogs and other content.
- Hire Virtual Assistants to manage your business and use your time to scale up your business or open a new store.
What survival tips do you have for businesses? Let me know how your business is doing right now amidst this pandemic crisis? Give us a comment below!