Top DKN Five Recession-Proof Businesses
Americans are more than anxious about the current economy. In a recent survey of about 1,000 US residents, 65% of the respondents said they believe the economy is getting worse. Almost half of those polled reported they are already reducing their expenses while about 20% voiced their apprehension over their jobs. Recession is here and businesses are concerned about their survival, if they can thrive in such a financially weak environment. Others may want to hold off any new business ventures but if you are still bent in starting a new business at this time, you may want to explore the top five recession-proof businesses.
1. Food and Beverages
This suggestion is not about entering the restaurant business but if it looks viable and you’ve already made a feasibility study that says it is, then there’s no reason not to. Just remember that opening a restaurant carries high risks. However, what you may want to look into is selling healthy food and beverage. With the country in recession, more people are conscious to eat only healthy foods. The practice allows them to reduce their food consumption and refrain from buying expensive junk food and helps them avoid getting sick. Explore how you can be different from the others. Be creative and offer tasty menus whether yours is a caf?, a diner, or any type or dining place. You can even serve an all-vegetarian food fare. A good concept coupled with excellent taste can make your food and beverage business recession-proof.
2. Funeral Services
Death is a certainty and somebody has to attend to the dead. This makes funeral services a recession-proof business. You can provide services or sell related products. You may also consider offering cremation, an option that has been steadily gaining favor from many people.
3. Healthcare
People need healthcare service all the time, whether the economy is receding or booming. In fact, demand for excellent and professional healthcare providers has been growing through the years and there are no indications that the industry will suffer from any slowdown in the near future. Actually, you can venture into health services provided you have a background in health, can hire qualified staff to render the services, and have the capital to get the business going. You may want to consider the current trend, though, and focus on preventive solution, home, and alternative healthcare.
4. Personals
Do not be surprised with this one but a dating and matchmaking service is a good recession-proof business. Everyone has it hotwired in the brain to look for a special someone without regard for the state of the economy. Whether their interest is on dating only or marriage, countless people use the personals service. Industry revenue is said to be about $650 million. Income is good and work is continuous with personals service. You can also minimize expenses as you may set up your office at home. The leading providers of dating services can be found online. They even offer speed dating through the Internet. All you need are adequate support, secure and user-friendly platforms, and a well-thought, effective marketing plan, and your recession-proof business can help you weather the times.
5. Repair Services
One of the recession-proof businesses that you can get into is repair services. The economy may be down but things that need repair never run out like clogged sinks, leaking roofs, broken appliances, cars needing tune-ups, etc. Although owners may want to delay calling for the repair guy, they won’t have any choice eventually. If you want to get into repair services, you will need to possess the necessary skills and equipment and, if needed, undergo specialized training to develop your expertise. On the plus side, this is one recession-proof business that provides high income margins. You can also quickly recover any amount you have invested in the business. And once you have built a reputation and goodwill, you can be assured of a good business even as the economy rebounds.
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