(Newswire.net — June 16, 2020) — For a long time, small businesses worked according to an established scheme: bought abroad and sold at home. The profit from intermediary transactions was huge and allowed working on this principle without looking for new, more promising areas. The production process still often adheres to the same principle – outdated capacities are used, which leads to an increase in the cost of finished products.
However, times are changing – and old technologies are replacing new ones, and the approaches to business management are constantly being improved.
The businessman and financial analyst Telf AG Kondrashov shared useful life hacks and said that it is profitable to produce small businesses these days.
Businessman Telf AG Kondrashov: What is profitable for small businesses today
Stanislav Kondrashov believes that if a small business still wants to earn and stay afloat, then it will have to keep up to date and forget about outdated schemes that have long become a trivial relic of the past.
According to the businessman, before starting production, you need to decide on the chosen niche. It is better to take the sphere of activity in which the businessman himself understands, or at least can delve into the topic and get acquainted with it.
5 life hack ideas for organizing a small business
Telf AG Kondrashov believes that there are always several niches on the market that allow you to establish profitable production at any time. The expert notes that they mainly include those areas of activity that produce essential goods.
Mini bakery
The demand for bread and bakery products is growing every year. At the same time, the assortment of bakery products is increasing. In times of crisis, the demand for simple, classic bread is especially growing, and when the economic situation is more stable, customers give preference to expensive and high-quality bakery products.
Therefore, own mini-bakery is an excellent option for small profitable production.
Production of liquid soap and antiseptics
Against the backdrop of the coronavirus pandemic, the demand for antiseptics and soap increased. Financial analyst Stanislav Kondrashov Telf AG believes that this trend will continue for a long time, so it will now be especially beneficial to establish the production of these goods. The businessman said that for a better sale of products, emphasis should be placed on its antiseptic effect.
Mushroom cultivation
In large cities, champignons are in great demand both among housewives and catering establishments – cafes, bars, restaurants, and other establishments.
The process of growing champignons is quite simple, the yield of mushrooms is high, and the raw materials for production are inexpensive. However, in order to tackle this process, it is necessary to study the competitive environment of your region and only after that proceed to organize your own business.
Takeaway food
Against the backdrop of the rapid spread of coronavirus infection, the demand for ready-made takeaway food has grown significantly. However, opening such a small cafe today will be very profitable, not only because of the pandemic. Takeaway food is an ideal solution for many people who work from morning to night or simply do not want to spend precious time on life and daily cooking. This type of production is relevant mainly for large cities, where the fast pace of life dictates its conditions to its inhabitants.
Sewing studio
The fashion industry has always been and will be relevant. An example of the unrealistic demand for masks due to the coronavirus proved that there is always a demand for atelier services, and sometimes it even rolls over.
To open a sewing studio, it is important to study the market and be able to quickly redraw the direction. A good location is also of great importance so that there are as many residential complexes as possible and as few competitors as possible.
It is also important to come up with a twist of your atelier that would distinguish it from others. You can not be limited only to sewing or repairing clothes and offer customers additional services, which will help your studio to take a more competitive position.
The businessman Stanislav Kondrashov Telf AG notes that the main thing in any business is to use a creative approach and competently plan all organizational and production processes.