There’s no denying that times are tough for many people these days. Economic woes, wars in foreign lands affecting the prices of things everyone consumes thousands of miles away, and an ongoing global pandemic have caused problems for so many people.
If you’re a budding entrepreneur, the idea of starting a new business under seemingly untenable circumstances can feel daunting at the very least. After all: what happens if your business fails to make a profit?
You’re likely reading this article because you want to own a successful business. But, you want to invest your time, effort, and money into something that won’t buckle under economic stress.
With that in mind, it’s worth considering the following seven examples of recession-proof businesses:
1. Vending Machine Retailer
People will always want to buy drinks and snacks from vending machines. They are handy self-service solutions that can provide some much-needed nourishment and thirst-quenching in any retail or commercial premises.
Everyone buys from vending machines because the costs are so low and it’s more convenient than walking or driving to a nearby grocery store, for instance.
You could become a vending machine retailer, offering to install and maintain the machines for your customers, and creating a new reason for customers and employers to frequent their establishments.
2. Pet Care
Most people consider their pets as part of their families. They love and care for them as if their pets were their human children! As you can appreciate, part of the responsibilities of owning a pet is ensuring they are healthy and happy.
Pet care products, such as grooming tools and worming medication, are excellent items to sell because there is always a strong demand for them – irrespective of what’s going on in the world.
You could sell your pet care products exclusively online, or you could open a retail store. You may even decide the best of both worlds is your key to success! Whatever your business model, you’ll always have a profitable business with pet care.
3. Real Estate
Arguably one of the oldest methods of making money in the world is through real estate.
When you work with the right real estate agency, you can build a property portfolio that will always provide a rental income, although you can obviously buy and sell your properties for profit too.
It’s not as difficult as you might think to get started in real estate – even if you have little to no money to invest in such an enterprise.
4. Automotive Servicing And Repairs
Many folks need a car for commuting to work and back each day. For some people, owning a car means they have a much-needed lifeline to the outside world – especially if they live in a remote location.
Cars need periodic maintenance and repairs, and while it’s possible to conduct many basic servicing tasks at home as a DIY mechanic, the truth is more complex jobs must get undertaken by professional vehicle technicians.
Opening an automotive servicing and repairs business is a good recession-proof business idea, and it’s something you’ll enjoy a lot if you have a keen interest in cars and the automotive industry.