What are the best recession proof business ideas for 2013? Can you successfully start a business during an economic recession? Are there any startup business ideas that is recession proof?
In a recent poll involving 1,000 residents of the U.S., 65% said that they think that economic conditions in the country are worsening. Nearly half have already cut back on their spending and almost 20% are apprehensive about the stability of their jobs. Now that recession has come and gone, is there hope for businesses to thrive, much less survive and recover?
One of the situations most entrepreneurs dread most is a recession. It cripples businesses and reduce the morale of entrepreneurs to undertake new business ventures. I was recently discussing with a friend of mine concerning the last recession; its impact on our businesses and the lessons learned.
We pondered on the idea of setting up a business whose growth will not be hampered by a recession. Now if starting a business and staying strong during a recession is a way to go for you; then here are the top 5 recession proof businesses you might want to consider.
Top 5 Recession Proof Business Ideas You Can Start in 2013
1. Health care
Regardless of the times, someone somewhere will always be in need of good, professional health service. This is an industry that has experienced some significant growth over the last few years. And it doesn’t show any signs of slowing down any time soon.
If you have the resources, training, manpower and capital; then becoming involved in a business that offers health services will assure you of a comfortable market. Consider businesses that focus on offering affordable preventive solutions to people, alternative health care and home health.
2. Food and beverages
I love the food business because no matter the economic situation; people must eat. But I am not talking about pooling your hard earned money and starting a restaurant business; although if that seems like a feasible thing to do, it just might work. However, going into the restaurant business still has its risk and a very high one at that.
Instead, you might consider going into a food and beverage business by focusing on offering healthier fare. These days, going into a recession is even a better excuse to eat healthy because it encourages people to cut down on their consumption and to avoid unnecessary purchases.
Consider alternative menus that are tasty and creative or specialized cafes and diners or even vegetarian eateries. Concept plus good taste are usually the best ingredients to a successful recession proof food business.
3. Funeral services
Yes, this is a recession proof business, morbid as it may sound. It deals with an inevitability, which means you’ll never run out of customers. You could either get involved in selling services or offering related products. Cremation, which has increased in popularity in the last few years, is also a good option.
4. Repair services
Repair services are also recession proof businesses. There will always be people whose kitchen sinks clog, whose air-conditioning breaks down, whose roof starts leaking or whose car suffers from overheating. What these mean is pure business opportunity, even when economic times seem shaky. And even if potential clients try to delay much needed repair, they will still come to you for help eventually.
But it’s worthwhile you note that many, if not all, of these businesses require specialized training, skills and equipment. However, once you have these resources, you’ll have access to a recession proof business that does not only offer a potential for high margins, it’s also a venture that won’t require you to wait too long for a return on your investment. Provided your services are tops, it’s likely that you could be in business for a very long time.
5. Personals
It may seem surprising but starting a business involving dating and matchmaking could help you tide the recession over. Recession or no, people will always be looking for someone special either for dating or marriage. Already, this business has hit over $650 million in sales.
As a recession proof business, starting a personals venture could mean good profits and steady work. And no one even has to leave home. Some of the most popular companies today are those that offer online dating (Internet speed dating included) to their clients. With sufficient support, attractive and secure platforms and savvy, targeted marketing, this type of business is set to fly.
