50 Best Recession Proof Business ideas and Industries

In three weeks, more than 34,000 customers were waitlisted on Touchland.com. Between March and May 2020, we had up to 700 orders per day and sold 10,000 dispensers to industry-leading brands in those three months. For instance, MDacne is a digital health brand that offers personalized acne treatment subscription kits and One Drop offers a diabetes subscription service that can be delivered straight to the customer’s door. I learned a lot about finance after working for a digital marketing company specializing in investing and trading stocks, forex, etc. After that, I got exposed to other verticals such as wealth management and personal finance, which further improved my understanding of the financial world.

Mobile Notary Service

If you also can coach/train players in soccer, tennis, baseball, or indeed any other sport, there is money to be made by turning your skills into a business. Despite poor economic times learning, music, acting and sports always thrive. A catalog of different wedding services jointly helps to make such a day brilliant and memorable. However gloomy the times are, a nicely organized wedding will always help to ease people’s worries, albeit for several days. Although the economy is on an upswing, albeit a slow one when you think about starting a business you need to plan for the long term.

• Recession-proof businesses, as the name implies, are businesses that are not affected by an economic meltdown.
• These tools include all-in-one merchant services providers, project management software, eCommerce platforms, and accounting apps.
• As technology has advanced, more and more influencer businesses are starting to rise.
• We all shop online these days, and starting your own ecommerce business can be a great way to jump into the industry and begin selling your products to millions of potential consumers.
• Perhaps you could offer debt counseling services, or get into the debt consolidation industry.
• A recession comes with a spike in unemployment — and spikes in unemployment come with a significant portion of the workforce scrambling to refine their skills and bolster their rèsumès.

Health and fitness industry business ideas

It’s smart to invest in a recession proof business as their products and services will continue to be in demand. There are many strategies that you can follow to keep your business solvent even during trying economic times. Admittedly, people stayed away from cafes and restaurants but recession proof small business ideas at-home consumption continued to soar. Thanks to food delivery services like UberEats, Grubhub or DoorDash, home bakers can easily sell confections online and deliver them to people’s doorstep. Those without the manpower to fulfill a lot of orders could promote their delicious concoctions among neighbors, friends and family for some extra cash. You could even start a vending machine business to quench people’s cravings when they’re on-the-go.

Childcare and Elderly Care Services

Whether you’re thinking about launching your own business or looking to pivot during tough economic times, these https://www.bookstime.com/articles/what-is-record-to-report 14 ideas will prime the pump and help you start a recession-resistant small business. The pet care business is an excellent business to start in a recession because there’s always demand for pet services. You can operate this business from home, avoiding the overhead costs of renting an office space. If you love animals, this is a great way to help them and make money simultaneously. Online reselling services are a good choice for recession-proof businesses.

• With our world being tightly interconnected, businesses and governments consistently rely on shipping and logistics to get essential products to those you need them.
• Sadly, families require funeral services, regardless of the state of the economy.
• Auto repair shops are among the recession-proof small businesses since cars are everyday necessities.
• The ecommerce industry was seeing record growth at the beginning of the COVID-19 pandemic and as it went on, adoption increased.
• At the very worst, some people may require the services of an accountant if they’re forced to file for bankruptcy.

Food delivery services are recession-proof—just like lipstick, they represent a small luxury that most people can indulge in. Ordering a favorite meal or snack is much more accessible—and contra asset account justifiable! The ability to expand operations when competitors are shrinking gives these businesses a unique advantage, allowing them to capture market share and build stronger positions for the eventual economic recovery. Whether it’s keeping the lights on, staying healthy, or maintaining basic infrastructure, necessity-driven models create an almost guaranteed customer base that persists through any financial crisis. In conclusion, if you are looking to start a business that would guarantee peace of mind even when other businesses are facing hard times, consider any of the businesses discussed above.

How Can Businesses Improve Their Supply Chain Management During a Recession?

• And if you provide tasty food at affordable prices, you’ll be able to earn a decent income soon.
• If you also can coach/train players in soccer, tennis, baseball, or indeed any other sport, there is money to be made by turning your skills into a business.
• Parents might not be able to spend hundreds of dollars on toys at Christmas during tough economic times, but they will still buy presents.
• If you’re already a small-business owner, you’ll want to know how to recession-proof your existing business, rather than which type of business to open.
• Furthermore, most businesses still need to make and receive shipments of goods through a recession, and in the global economy, supply chain logistics continue to have major importance.

There will always be a need for certain healthcare services, with some tending to increase in demand during harder times. The food retail industry includes all foodstuffs sold at grocery and convenience stores, drug stores, mass merchandisers, and food service facilities. The total sales of these food retail services in the US have surpassed $6.22 trillion, indicating that there is clearly money to be made in this industry.