New Poll - What Is The Best Business To Start Up In A Recession?

[TylerBakerllc]

A drive through liquor and beer store. Sell cigarettes, drug paraphernalia, liquor, lottery tickets, liquor, and beer... Set up shop in the worst part of town and hire a few big dudes to handle security/check out... Put them on rotating shifts.

Hey, just a thought....

[TylerBakerllc]

im sorry tobacco paraphernalia.

[ramy]

+1 on the liquor store

[Og Content]

Healthy alternatives to cheap, fast food chains.

[Warranties-For-Less]

I know that many people are misinformed about Multi-level Marketing companies aka. network marketing. I have been network marketing for over 2 years now and I have seen a big jump in my business lately. Maybe it is because of the low costs compare to other companies and that the products are Jerky and snacks that people consume and reorder. But I also think it is because so many people are being laid off and are turning to the internet to look for a home based business and I am ranked on some of the search engines in the first couple pages.

Besides Network Marketing companies, I think if you have large amounts of money to invest, that you should invest in real estate properties to rent out and keep for the long run. Only because the bank owned homes are going for such a good price, it is hard to ignore the good deals they have out there. My husband and I bought our first investment home back in September and it has worked out great.

Curious,

I started with Jerky when they began, and good product, good price point value, but you say you see increase in business, which runs counter to my experience, so I was curious, what is your secret. As well, with home prices collapsing nationwide, what area did you purchase your investment home? Did you purchase and already sell before banking economic collapse, or is there some place in country, or world where decreasing values of homes had not hit yet?

Success to all, Mike

[Mega B]

We have been expanding into the Adult arena as we can see this being good in Recession and beyond.

[Warranties-For-Less]

Interesting,

Since this is the topic I have been researching for the past year seeing my income drop like most other businesss owners, I started to shift gears and add only recession proof businesses to my portfolio. Seeing PayPerClick drop in half over the year with over a hundred affiliate sites I promote, no doubt, this recession is one that is impacting everyone, if we cut through the BS.

Given I have been in business for years, and research everything as part of my long term strategy to not only survive, but thrive through a recession, you have to diversify is rule number one. Just like with national chains going bankrupt, Linens N Things, CircuitCity, etc., never mind hundreds of thousands of small to medium businesses, you have to stay current with all the business trends to survive.

For those choosing a business due to uncertain employment scenarios as job losses are at an all time high, as well as bankruptcies, foreclosures, never mind the fact the government is technically bankrupt, with banking collapse, Fannie and Freddie bailout, stock market collapse, even an oil collapse, all I can say is be carefull when choosing your new business.

There were some good suggestions listed, healthcare, of course, we all need healthcare, but how many can afford it? Having many friends who are in nutritional product industry, no doubt, many are dropping out of autoship, one of my businesses is seeing the same thing, so healthcare, yes, I agree, but in general terms, how many businesses can you start in healthcare industry? After all, this is entrepreneur forum where most want to start their own businesses.

In my general research, the number one growth industry is the death industry, as in, funeral homes, cemeteries, casket companes, etc. After all, we are all going to die, and with babyboomers reaching this final phase in their lives, 70M or so, this is the business to be in. The only real estate you will see appreciating in value over the next five years will be cemetery plots as I see it.

Speaking of real estate, a mainstay in the wealth building arena for years, and with the longest upward trend lasting 17 years, a record, it is all coming unwound, and in my area, prices have already receded back to 2004 levels, so this is a major hit on most people equity wealth which has evaporated over the past year, and continues to drop in most areas.

See this trend, the best opportunity I have researched is a new home equity profit sharing concept which is so unique, it cannot be fully explained in one post. If I was to suggest the best recession proof business for the times, I would say this is my number one in my own personal seven recession proof list of businesses. Again, with banking collapse, sub prime mortgages are long gone, and never to return, and with banks not loaning, even after gov. bailout, 80% of previous home buyer market is now shut out of home ownership. Not only do you have to have 20% to 30% down, you have to have 720 plus FICO scores, so could you qualify for a new home in this market, ever with spotless credit?

I was in the contruction, real estate, and mortgage industry, and I got out knowing we were all living on borrowed time with 17 year long real estate boom. Most cycle every ten years, so we went through a record 17 year high, so bubble had to not only burst, but explode, as it has. What are people going to do? Well, for one, check out this new equity profit sharing concept which required no traditional mortgage approval, so everyone is approved, bankruptcies, foreclosures, everyone can earn their dream home with this plan, from starter homes to mansions, this is that unique of an option, it is exploding. So when you look for recession proof businesses, look for those that service those which are on losing end of recession, that being those who are losing their homes, as example.

My number two recession proof business is the Environmental Energy Audit Industry. With so many businesses trying to survive, saving money is critical, and since every business is bleeding wasted energy, this is a gold mine if you are looking for a low startup, low overhead home business. Having been in contruction, I can tell you first hand how many contractors took shortcuts in the good times and combined with low energy costs for years, these small to medium buildings are energy inefficient, and with 5M plus businesses in this catagory, you can make a small fortune even part time if you have business contacts. Learning the business is easy, and with a little effort, this can easily be a full time business, so perfect for those who are not comfortable in their current jobs. Energy auditors and consultants are good long term businesses as we are all more green motivated now, so you have two points to approach business owners with, saving money, and going green.

My number three is a compliment to the above energy audit business. When you analyze businesses such as commercial buildings, retail stores, gyms, restaurants, etc., and you show what they are wasting, it only makes sense to also sell the equipment to solve their energy waste issues. With that, this new hybrid HVAC system will save tens of thousands per year for average small to medium businesses, never mind home owners, so this is a case where you can get paid twice for the same effort, also very cost effective for new business owners starting out.

My number four is childrens abduction safety protection and educational business. If ever there was a recession proof business, this is it. With rising problem of children safety, with 850,000 reported missing children last year alone, what parent would not want their children protected from abduction or sexual molestation? This industry is ripe for growth with abducted children in the news every day, and getting worse every day. Low cost, no selling, just telling, a very solid choice in my experience researching this industry.

My number five is a discount business cooperative, similar to Chamber of Commerce, whereby you offer members group benefits such as reduced health care which is most common benefit of memberhip. Anyone who is or was member of any local chamber will understand what I am talking about. But with this cooperative membership, you not only access low cost health care, but low cost advertising and every other critical aspect of running a business at discount. This is one of the easiest businesses to promote to other businesses desperate to save money. Sadly, in a recession, most businesses cut advertising first, and this is suicide in business, yet most don't know this until it is too late. Trimming advertising is important, but from a cost point, not eliminating it, and that is what this business cooperative is all about, saving money, finding more cost efficient advertising, not wasting money.

My number six was a no brainer. With smokers always making a new years resolution to kick the habit, never mind the new health care tobacco taxes which will bring a pack to over $10.00 in most areas, this is an industry which is booming. As the recession is hitting smokers too, here is a money saving and life saving alternative, electronic nano non tobacco cigarettes. With no tobacco taxes, plus the cartridge system, a smoker can save hundreds, if not thousands over the year, in fact, most won't pay anything if they also choose to be in the business sharing technology with other smokers. Once people see it, they want it. Simply put, this product sells itself, and for this reason, the perfect recession proof business as smokers look to save money, even if they don't care about saving their lives. After all, the cancer, heart disease and emphysema issues are well proven, so here are two powerful reasons why people would want to stop smoking tobacco, or kick the nicotine addiction.

My number seven is addrssing the big ticket luxury millionaires market. With the Madoff $50B ponzi, many millionaires lost everything, and with the stock market collapse, trillions have been lost requiring the disposal of luxury big ticket items like, yachts, exotic motorcars, mansions, jewelry, antiques, paintings, you name it, the rich are going to be dumping it. This is a rising star in my portfolio, about to launch, and well worth adding to anyones list as you will soon see. Pawn shops are booming, look at the online gold exchange industry, also exploding, so again, anything which addresses the impact the recession has on everyone will be the businesses to choose for the long term.
This is an online auction site targeting big ticket items only, and becoming a broker is an ideal recession proof business for everyone.

Lets keep it going, I am always on the hunt for new recession proof businesses to add to my portfolio.

Success to all, Mike

[justgowithit]

Has anyone seen the (now off) Broadway play Avenue Q? You answer is in there... loud and clear

[Marshall H.]

I think a used video game store would be good to start.

[rejoice]

people need to drown their sorrows so sell them alcohol
sex is a cheap alternative to going out so sell them sex toys and porn
network marketing and online/home business are extremely viable
become a shrink and treat all those with depression from the recession

[dtechm]

I'd say online business tools, to help businesses grow.

[AnthonyStanley11]

I would think health care or credit repair/debt counseling.

[mbrand2222]

Used articles for consignment. People are needing to save a dime even more these days.

[trisario]

A website for employment (since in my country, thousand of workers being laid off). Luckily, I wouldn't need to find a job

[hazwani21]

I cant deny the fact that in this kind of economy climate, its almost difficult to do any business. however, difficult does not mean you are unable to do so. It just takes a little bit of extra effort to understand your market more closely and providing solution to them.

What I do for example is to promote short and long term saving plan for the public. When the market downturn happened, people are scared to spend because the value of money become smaller. Therefore they reserve their cash for emergency. So this is the best time to promote general public to save!

BTW, saving does not need big amount. It just needs big discipline. But to be discipline enough not taking the cash that u've saved is unlikely to happened. Thats where savings plan comes in handy.

In a nutshell, when the market is down the best thing to do is to save!