With the United States economy taking an abysmal plunge and taking a really long time to recover from it, it has become clear that in order to stay successful in today’s world of unstable economies, the best thing to do would be to opt for a business that is recession proof. Accordingly, here are 10 such businesses that keeps on soaring irrespective of how the economy fares.
Food and Beverages
People need to eat no matter how bad the economy is. And the prolonged recession would force people to opt for healthier foods that can help them cut down on unnecessary purchases for their nutritional needs. Hence, any business related to food and beverages would remain high and safe from economic slumps.
As much as they prefer food, people would most definitely keep on buying fast foods and snacks during economic recession. Starting a business that deals with anything from a simple cookie or pastry business to bread or even cakes can help produce a steady stream of income.
The economic depression has led to an increase in crime rates in the country, with most of these cases related to theft, burglary and break ins. Hence, more individuals are opting for security services to safeguard their belongings, including hiring body guards to protect their homes and offices. This would automatically create a demand for security services, especially during economic slumps.
People prefer to remain clean irrespective of how the economic recession treats them. Hence, laundry services which normally do good business would continue to do good business even during economic meltdowns.
People will be looking out for professional health care services irrespective of how the economy looks. The health care industry has seen a tremendous growth in the past few years, and has remained positive in spite of facing several economic slumps. Starting a business that offers healthcare services would therefore, enable individuals to build a steady stream of dedicated customers, thereby sowing the seeds for a stable income down the lane.
This is one business that is never going to fade, no matter what happens to the economy. Economic recession does not prevent people from having sex. However, it does make them more wary of having babies during this period, meaning they would need more contraceptives. Therefore, any business that deals with the sale of contraceptive pills and devices would thrive during the economic recession.
Some people can’t do without makeup, and literally keep covering themselves with layers of makeup religiously. And that is just 1% of the population that loves to wear makeup. These people would keep on paying money to get good looks and retain the same, meaning the cosmetic industry would soar irrespective of the economic crisis.
Things tend to require fixing and mending after some time. So no matter how the economy looks, there will always be that kitchen sink that needs fixing, the air conditioner that broke down, the roof that develops holes and the car that overheats. Repair services would take care of all these factors and keep the money flowing in as well.
This business actually peaks during economic slumps or meltdowns wherein individuals who are not able to pay their mortgages would need to lose their vehicles, home and any other property that has been mortgaged for loans. This would be the perfect time to start a repossession business. Every repossession may not end on a happy note. But the money would be enough to make one smile through it all.
Garbage Waste Collection
Someone needs to collect the waste, no matter what happens to the economy. Starting a waste disposal business would enable an individual to remain stress free during economic meltdowns when people would still need to dispose of their garbage and waste.
It may sound morbid, but this is one of the safest businesses one can come across during economic meltdowns. People who die need to be given a befitting burial by their loved ones, no matter what. And people tend to die every day. Hence, the business would remain functional and very much active even during the recession.