recession proof business ideas

Other recession-proof businesses will also require occasional repairs through a recession. The food industry can be very resilient during times of economic hardship. Not only do people need sustenance to survive, but food can also offer comfort and familiarity during times of stress.

You can take certain strides to ensure that your business is recession-proof. Fear of a recession can effectively spook the under experienced investor and cause them to sell their stocks while seeking to preserve their profits. Consumers usually roll back their spending, which affects the profitability of most industries.

What is a recession-proof business?

And instead of needing tens of thousands of dollars for a down payment, you can buy shares in these houses for as little as $100. If you have the means, a recession could be a good time to pick up a rental property or two. Check out a platform like Roofstock, which makes it easy to shop for and compare properties across the country. In fact, my previous business — a website for bargain hunters — had its best year in 2009, the peak of the Great Recession. Likewise, consumers need access to contractors, mechanics, and other repair professionals. The home improvement industry accounted for $538 billion in 2021 and is expected to reach more than $620 billion by 2025.

recession proof business ideas

So if you’re handy around the house—or if you’re a certified plumber, electrician, or HVAC technician—starting your own home repair business is a no-brainer. Since people are likely to stay home and save money, they could also allot their limited budget on home improvement projects. This is especially the case for homeowners looking to sell their properties to combat financial struggles. Home recession proof business ideas improvement and contracting is one of the most resilient industries, with a valuation of $457 billion in a year. Suffice to say, most people want access to repair, plumbing and pressure washing services as soon as possible, rather than wait for better economic conditions. To make it even more recession proof, think about the items people are less likely to replace during a recession.

Contractor, Repair, and Automotive

Jimmy Daly started Superpath, a professional community for content marketers, a few months after the start of the pandemic. He chalks up its success to its focus on careers because it helped members get advice, find work, and develop skills during a difficult economic time. Once the economy stabilized, he could then appeal to the other side of the market—businesses looking for talent—through a job board and freelance marketplace. While no business is truly immune to recession, there are many recession-proof businesses that continue to operate normally during a recession—or even benefit from economic downturn. These are typically businesses or industries that are “essential” or that have an ever-present demand for goods and services. At 43%, bookstores saw the biggest increase in the number of businesses during the latter part of the pandemic.

It is a way to earn money online by promoting other companies’ products and services. You will be paid a commission for each sale you make as an affiliate marketer. When you are looking for starting a veterinary clinic, make sure that you locate one nearby an area with lots of dog owners and animal farms.

Top Ways to Recession-Proof Your Business

You can also consider partnering with local companies, such as coffee shops or gift stores, to sell your candy on their premises. To start the business, you must create a business plan, establish a business structure (such as a sole proprietorship or LLC), and identify your target market. You may also need to secure financing and create a marketing plan to attract clients. It is also important to network with other professionals in the financial industry and stay up-to-date on the latest trends and developments in the field. Another critical element of running a successful consignment sale business is effectively pricing and marketing the items you have for sale.

recession proof business ideas

Moreover, the recent global pandemic has highlighted the significance of pandemic-proof businesses in the healthcare industry. The ability to provide essential medical services, telehealth consultations, and innovative solutions while adapting to rapidly changing circumstances has highlighted the industry’s resilience. In this blog, we’ll explore ten recession-proof business ideas that can offer the potential for lasting success and stability, regardless of the economic climate. Let’s dive into these opportunities and discover how specific businesses that do well in a recession can provide peace of mind for entrepreneurs in both prosperous and challenging times. Someone starting a tattoo business should love tattooing and have significant experience with tattooing and some artistic skills. Individuals who are willing to pay a higher price point for better quality tattoo artists are typically looking to enjoy a certain personal experience.