How to make money in crisis
First, you need to understand that any crisis is the perfect time for new opportunities. Well-established markets are crumbling, companies that seemed to be monopolists and giants are ruined and go into oblivion, the usual way of life is changing and restructuring.
The main thing is the ability:
- feel the situation;
- predict new trends.
You must quickly find new niches in order to occupy them, learn something new, start some kind of business, or at least simply develop a detailed plan on how to make money in a crisis, and then follow it step by step, making adjustments as you reach your goals . So, we will consider the most promising options for profit in crisis years.
1. How to make money in a crisis: real estate
How to make money in a crisis
Gone are the days when people believed that the best investment is an investment in real estate. Often, these investments no longer pay for themselves or bring profit at the level of self-sufficiency. In a crisis, the business closes. This leads to the fact that offices and retail space are freed, there is no one to rent them. Commercial and residential real estate are also being massively put up for sale: some people prefer to go to more successful countries, the second ones sell apartments to pay off debts, the third ones cannot pay a mortgage and the bank puts up real estate for sale.
How to make money in crisis: real estate
- If you have your own house, apartment or other building, then try to sell it before the crisis, and transfer the money to dollars and euros. Keep in mind that property prices will fall for several months or years in a row, and you will be able to buy yourself equivalent living space and make good profit. For example, before the crisis of 2008, at the peak of cheap loans, apartments in small towns cost 40-50 thousand dollars. After the crisis, just a year later, these same apartments were sold for 10-15 thousand dollars. That is, if you sell one apartment before the onset or in the initial period of the crisis, then you could buy 3-4 apartments.
- Purchase unfinished. In well-fed years, people begin to build massively, but this process usually takes 3-5 years. Due to the worsening economic situation, the population has less money and projects are frozen. And some are generally sold. It is often possible to buy a solid house, which is 70-80% completed, 2-3 times less than its real cost. Boxes with a roof can be purchased for 5-10 thousand dollars, while the owners invested from 15 thousand in their construction. The crisis will end sooner or later, and then you either simply resell the unfinished building, or bring it to the finish line and realize it as a full-fledged house. This is a good option on how to make money in the crisis of 2020, if you have free money.
- Sublease. Many shops and offices will now close and free up space. Now the crisis has not yet begun, and according to all preconditions, it will hit at the end of summer – in the fall. This means that you have time to choose good facilities and think about how to make money from them. Building owners have already begun to lose profits – there is simply no one to rent space. You need to choose good points, conclude near the end of the crisis long-term lease agreements on favorable terms (now you can already get a 20-40% discount from the previous price), and then lease these premises to a vibrant business.
- Apartments for rent is another way to make money in the crisis of 2020. There is also a decline in the rental market for residential real estate: more and more apartments are being offered, fewer and fewer apartments are being rented, people are leaving home or are joining relatives to save money. You can rent an apartment for a year at more than a nice price, and then rent it out daily. The difference between monthly and daily rents can be almost 500%, which will bring you good profit.
2. How to make money in the crisis of 2020: farming
Another good option on how to make money during the crisis is farming. If you have land or the opportunity to get it (to rent), now is the best time to start.
Note! The UN predicts hunger in 2020 and 2021 due to the introduction of quarantine: many farmers did not have time to plant their crops, and there will be problems with the sale of goods. But small farmers, on the contrary, will be on horseback.
What exactly can be grown
Pretty much anything. You can plant a field with potatoes, build a couple of greenhouses with cucumbers and tomatoes, breed ducks and chickens, grow greens and more.
The main thing is to make the right economic calculation and find your niche. We recommend focusing on low-cost mass food products:
- cabbage and stuff.
To increase profits, you can add berries and nuts, but their cultivation will take more than one year. Chickens will bring you profit not only like meat, but will also give eggs – a dozen household eggs can be sold for $ 1. You can get goats – their milk is very popular and costs more than a cow, while keeping a goat is much easier.
In general, farming has a lot of interesting prospects. It all depends on your perseverance and desire to work.
There are many examples of how people who have never been in the village organized successful farms and reached profit in the first year after starting their own business. Moreover, food will be bought in any crisis.
3. How to make money during the crisis: creating a personal website / blog
If you are looking for how to make money in a crisis on the Internet, then try to create your own website or thematic blog. For this you do not need specialized knowledge or money: everything can be done for free. You will only need to choose a niche, draw up a competent content plan, then fill the site with articles, collect an audience and receive money for advertising.
How much can you earn in this way? It all depends on how many people your portal will visit and what its theme is:
- with 300 visitors per day, you can go out at $ 100 per month;
- at 1000 – for 300-400 dollars a month.
At the same time, earnings can be almost passive – you will add five articles to revitalize the site, and the rest of the time go about your business.
There are various ways to create portals. For example, using online designers, ready-made blogging solutions, using CMS, etc.
To gain an audience, you need to use SEO methods and constantly optimize your portal. In principle, reaching attendance of 100-200 people is quite realistic in 3-4 months.
And nothing prevents you from leading several portals on different topics at once – this can become permanent employment. Some people keep networks of similar sites of 100 pieces – their profit is tens of thousands of dollars per month.
Making a website with your own hands is not as difficult as it might seem at first glance and does not require solid financial investments. It’s enough to master WordPress – this is an intuitive management system on which you can develop different sites:
- business cards;
- information and others.
If you don’t risk developing such a direction as developing a site yourself, sign up for a free course on creating and promoting a site . It is built on practical tasks, and a round-the-clock support service will solve any problems for free. Participation in the training is a guarantee that you will not only make a website, but also understand how to work in the administrative panel and promote the resource in search engines.
4. How to make money in the crisis of 2020: auto repair
If you have your own garage or you know how to repair cars, then you should know how to make money on the economic crisis. Today, the population has several tens of millions of cars. Vehicles are constantly breaking down and require maintenance, and not everyone can refuse to use them.
But repairing cars at official dealerships and in large service stations is quite expensive and not always of high quality, so most people will prefer their “home” master, who will take it cheaper and offer better services. In the future, this business can grow into something more: its own service station, store, and more.
5. How to make money in a crisis : creating an online store
Own online store is a great option for making money during the crisis of 2020. Today, almost everything is sold through the Internet – classic stores are closed by government orders and simply because visitors prefer to buy everything with home delivery rather than go shopping centers. And you can and should make money on this.
What exactly can I sell
- Food (you can generally organize a delivery service from the supermarket).
- Children’s, women’s and men’s clothes and shoes (it is advisable to choose an inexpensive niche).
- Building materials and various home accessories. Considering how to make money during the crisis in Russia, one can not help but mention building materials, because even in the period of austerity people will not stop making repairs and rebuilding their homes.
- Medicines and hygiene products. Everything is logical here – people do not stop getting sick and use hygiene products.
- Inexpensive perfumes. The same principle – expensive perfumes will cease to be relevant, but the cheap segment will flourish.
In order not to pay money to professional developers, make an online store with your own hands. Sign up for a free course on creating an online store from scratch . You need to view detailed video instructions and complete tasks. The lectures explain everything in detail, but if you encounter problems, you can safely contact the round-the-clock and free support service. It will help fix the problems. Some participants in previous courses made their first sales of their goods before they graduated, but this is possible if you have already chosen a niche and you have goods to sell. If there are no goods, it’s okay, at the training you will be given a lot of useful information about working with suppliers.
6. How to make money in a crisis : repair of household appliances
How to make money in a crisis if you know how to repair equipment? This is the perfect time to start your own business. People will not have the money to buy a new refrigerator, television or computer. They will repair them, and not throw them away as before. Therefore, repair services will become very relevant.
At the first stages, you can provide field services, and then – open your workshop and even hire assistants to cover more and more orders. Good repairmen never sit idle: they constantly have a lot of customers and a queue for several days, or even weeks in advance.
7. How to make money during a crisis : freelance
If you do not want to work offline, then read this paragraph on how to make money online in a crisis. Remote work and freelance flourish today – offices are quarantined, employees work from home, and many will work this way even after quarantine ends.https://www.freelancer.com/
To find a job on the network, you need to master some profession. There are a lot of them:
- website development;
- Application Development;
- programming, etc.
You can easily find a job for you and quickly learn it if you set a specific goal. Then you just need to find a customer, do the work, get the first feedback and profit, and continue to work in the chosen field.
There are many cases where people, far from computers and the Internet, quickly mastered new specialties and began to earn more profit than at official work. Reaching an income of 600-1000 dollars a month after 2-3 months of training and work is quite realistic, and this is good money for many countries.
Tips for Making Money in a Crisis
Above, we have listed several ways of how you can earn income even in a very sagging global economy. But in fact there are many more. If you want to learn how to make money during the global crisis, then just follow the situation in the country, learn to make decisions quickly and find new niches.
For example, when there was an acute shortage of masks, some people began to sew and sell them. In one day, an unprepared person can make 500 masks in the presence of material and a machine. With the cost of one product at 30 cents, the profit is $ 150 per day, which is quite good for a novice businessman.
How to make money on the crisis of 2020, if you don’t know much
For example, create your own delivery service. Take orders for purchases on social networks, buy products in a supermarket and bring them to people by bicycle or car, and get your reward for this.
Learn a new specialty to work on the Internet, or simply transfer your business online – there are really many options for how to make money in a crisis. The main thing – do not give in to panic and despair.
Tune in a positive way, look at the situation with a fresh look, look for new niches and interesting offers – any situations can be considered from two sides, so even dismissal from work can be a positive step for you, because you will learn something new and become financially independent.
And remember – if you have more free time, invest it in training. Passing courses on creating a website or online store is an ideal option for “investing”. You will not only gain new knowledge, but also start a new business, which, with due effort, will grow very quickly and will bring you enough income for a well-fed and carefree life on the ocean, even in times of crisis!