What Businesses Do Well During a Recession?

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This is a question that I am getting asked to address more and more often as the signs of a serious recession appear in the US economy. So, here is my a magic secret about Business that do well during a recession. I hope that you find that they are a dynamic addition to the knowledge base available on this blog. Let’s explore how we might be able to make the best out of this economic downturn.

Let’s begin by looking a 4 basic ideas about consumers during a recessionary period:

  1. Consumer confidence is low
  2. People will still buy basic commodities
  3. People seek to preserve their status quo
  4. Family values become more important to many people

Now, we should begin by seeking out business opportunities that fit well with current consumer desire.

But first, you should realize that the truth is that you will find some businesses that are successful during a recession even though they go against the grain. While I maybe oppose this idea in general it is sometimes best to go with something that is working for you. Since I have some knowledge in this area, what I want you to understand about this issue in my posts is that I, for all intents and purposes, don’t want you to do something just because someone else approves of doing this or that during a recession

To get back to the point, here are 3 good recession business concepts:

  1. Do-it-yourself at home
  2. Forget your troubles
  3. Keep me safe

The most likely to be successful businesses during a Recession will be those that feed these 3 concepts.

During a recession, people will want to save money by doing things for themselves. This could be home health care so that they don’t have to pay a doctor to home repairs where they won’t have to pay a building contractor. Selling do-it-yourself kits at a good price in the right niches should turn a nice profit during our current economic downturn.

Also, people want to forget their troubles during a recession. Selling cheap entertainment to them is a good way for you to make money during the recession. Inexpensive video games, DVDs, DVRs and other such gear should do well. I shall give something away here to those of you who have waded through my turgid prose so far. I am making a handsome profit selling a pallet of overstock and slightly outdated electronics gear right now.

Lastly, people want to be kept safe in what they currently have. Security system sales, according to an associate of mine, have really taken off over the past six months. Various other materials that help someone seek economic security also do well during a period of economic turmoil.

Knowledge is power, they say. By selecting the right products to market during a recession you will have narrowly evaded disaster.

This entry was posted on Sunday, December 10th, 2017 at 8:44 pm and is filed under Business Performance, Recession. You can follow any responses to this entry through the RSS 2.0 feed.

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