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

[digger06]

I would suggest what is going to invest the least amount of investment with the biggest return. There are tons of MLM affiliate programs out there that really work.

[bakerboy]

isamovies.com

[wml]

Debt consolidation/Bad credit assistance

[mondort]

An internet business teaching people how to make money on the internet. I believe it has the lowest barrier to entry, but it needs tons of research and homework.

[aliendavid]

e-books on killing your financial advisor who told you to go hard in growth, then sell during the down turn to cut your losses.

[williecity]

a really new concept of business

[Warranties-For-Less]

Good subject,

Having been researching nothing but recession proof businesses over the past couple years, it is amazing just how few there really are in the overall industry of business, especially in home business arena.

What I have learned is to look for only businesses which offer true verifiable savings, first and foremost. In a recession, what is everyone looking to do? Save money, bottom line. As consumers cut back of their spending, as well as business owners cutting back on their budgets and going into survival mode, this is impacting thousands of businesses.

What I look for is a product or service which will save consumers and businesses money. In short, a product that has mass appeal and one that everyone is already using. This is called transfer buying, so it is not technically selling, it is telling and sharing the savings with others that is the easiest of all concepts to master. Most people don't like to sell, so you have to have a concept based on simple referral, and if possible, free or low cost to start if you ever hope to find financial freedom.

Starting a home business is not difficult, succeeding in it is. With thousands of businesses to choose from, you have to start somewhere, so start with a company which offers either value, or exclusive product or service is the best strategy. As example, everyone has a mobile phone these days, yet everyone is selling them, just turn on the TV and you get blitzed with Can You Hear Me Now commercials. lol Imagine if you had a technology which puts a dial tone on any cell phone? This one got my attention since one of my traditional businesses was in telcom industry.

The minute I saw this, I was interested, and since you can use your existing cell phone, you have no competition since you are not selling phones, you are telling mobile phone users about a way to save money on what they are already spending it on, their cell bills. This gets back to finding a product or service you don't have to sell, everyone already knows what a cell phone is, and few are happy with the quality of service these days as we approach peak bandwidth issues cell carriers are experiencing. With recent introduction of iPhone 3GS, and AT&T's failure to support it properly, this is just the tip of the iceberg, so get in front of a trend, or in this case, a solution to problem.

I love it when I see an opportunity to nail the big boys in any industry, and this is the technology which is a real game changer in the wireless industry. If you watch the news on cellular industry, you know that peak bandwidth is a real issue as texting has become a bandwidth hog along with all the new applications people are using. We know VOIP is the future of the communication industry, but did you ever hear about COIP, Cellular Over Internet Protocol? Simply put, it is VOIP-COIP technology, so now you can talk on your wireless mobile cell phone through the internet, just as you do on VOIP at home or your office. We know it works, we no longer have to sell concept, millions are already using VOIP, such as broadband cable VOIP or Vonage as example. I have been using VOIP for years, and even though there were less than great connections at start, not any more, service is crystal clear now.

So when talking about recession proof businesses, this is what I look for. Vonage barely survived after going public, but with tons of TV advertising, they are surviving recession because they save people money on their phone bills. This is exactly what COIP does for wireless mobile users, as well as for current VOIP users, for it combines both into one system for even more savings. Now you can have all your accounts under one plan. Imagine calling anyone in the world from anywhere in the world and only pay a fraction of what all the others offer, especially for those outside of U.S. like Mexico where a monopoly is ripping people off on telcom service.

As you can see, this is where you want to look before deciding on a recession proof business, look to save consumers and businesses money, pick a mainstream and exclusive product or service, and finally, choose one that is low cost to start business. Imagine if you could get involved in a new exclusive technology company for no cost at all? This is what I look for in a recession proof business, and so should you. How many have these attributes, not many I have found, but there are a few, so happy hunting and I wish you the best.

Success to all,

[dbrown0509]

Few Business that are recession proof

1.Loan Companies - people that live from check to check need extra cash and are willing to spend more later to have it now

2.Liquor Stores - beer,wine,etc is not going any where people may drink even more because of stress.

3.Tobacco - cigars,cigarettes,etc will continue to go up no matter how much they go up people are addicted to nicotine and will buy them

4.Funeral Homes - No explanation everyone dies one day

5.Insurance Business - With upcoming health care changes many people will be buying or upgrading insurance coverage.


6.Lottery - I know people will still risk a few dollar for chance to make millions any day

7.

[kameron]

The Best Business to start is a Business based around financial Education. The recession is going to cause everyone to reach out and search for another way to develop an income. There is only one company that has done this, and it is the super team up of companies carbon copy PRO and wealth masters International.

[nelsonclassic]

Hello friend,
Starting a new business in recession period is really a big challenge,because it requires a lot capital..
I think starting a consultancy will be a good idea..
But starting some Health related business will also have good scope,because now a days,people are worried about their health and are joining gyms and other health centers like yoga classes at a very fast rate.

Regards,
Nelson

[peteVA]

A single story house of ill repute, you nave no f+++ing overhead.

[rejoice]

Originally Posted by nelsonclassic

Hello friend,
Starting a new business in recession period is really a big challenge,because it requires a lot capital..
I think starting a consultancy will be a good idea..
But starting some Health related business will also have good scope,because now a days,people are worried about their health and are joining gyms and other health centers like yoga classes at a very fast rate.

Regards,
Nelson

why would capital be a problem? and one thing you should know that you don;t need capital to start a business... i know a guy who started a restaurant where he had no stock and had customers come in... order... pay... he would run to the store and buy the ingredients... cook the meal and then serve it... over time he had enough money to start stocking food

and you mention health... sure 'health' is a great nich/market to enter... proper market research will actually tell you what it is that people are looking for... whether it be 'tooth health'... 'mental health'... 'physical health'... etc

[krshna]

Originally Posted by Scunizzo

Last week I asked you what the best businesses are to start in a recession.

The top three businesses that you feel are the best to start right now are:
1. Online business
2. Health care business
3. Any business can succeed if you give customers what they need and save companies money

Rounding out the rest of the suggestions are:
* web development
* it doesn’t matter - just love what you’re doing
* biotech
* payroll check cashing business
* real estate
* dating, love, and marriage
* personal and repair services
* education
* technology
* credit repair
* financial consulting
* forums
* network marketing

What do you think about the list so far? Is online business the way to go or is there a better business to start in a recession? Voting will continue for one more week so please leave your thoughts by commenting below so we can tally the totals!

Scuzinno, you stole my thunder. I saw this thread too late, but I'm reiterating what you said anyway.

An online business is a GREAT business to start with because:

1.The capital required is small/negligible- non capital intensive business
2.Work from home/garage
3.You can risk learning on the job- there are infinite clients on the Internet
4.You can hire people across the country/world - infinite people ready to work as well!
5. No purchases/office equipment- just one computer- and it's YOURS!

Let me know what you guys think! Keep it real!

Cheers!

[krshna]

Originally Posted by rejoice

why would capital be a problem? and one thing you should know that you don;t need capital to start a business... i know a guy who started a restaurant where he had no stock and had customers come in... order... pay... he would run to the store and buy the ingredients... cook the meal and then serve it... over time he had enough money to start stocking food

and you mention health... sure 'health' is a great nich/market to enter... proper market research will actually tell you what it is that people are looking for... whether it be 'tooth health'... 'mental health'... 'physical health'... etc

That's AWESOME- though I remember hearing that story somewhere- I think someone told me something very similar but i just can't tell where. Damn.

[Andii]

People would say their thoughts all the time, but for me I think hairdressing would be the best business to start up... starting a salon means the prices will be cheap because nobody would want to go to a salon charging £80 for a cut and blowdry when it's just starting up (especially in these times)

With a salon, your safe so long as your careful and resourceful and you outgoing is less than your incoming... People will always need a hair cut and getting in there somewhere like town is the best place to be with all the passing trade.

I'm 16 and work in a hair salon, we have men, women and children and teenagers passing through the arcade (tunnel thing) where our salon is. Its next to a cafe and a health shop with a guy at the end selling bedding and cushions, it used to have a tattoo parlour but that shut down a year or two ago and we had a shop that sold 'black guy' clothing but they won £15million on the lottery and buggared off. Point is, these people often come in just seeing us, we've been there for 7years and was in another location before that for 9years, for 8years it's been under this management but it's always been cheap. About 5 years ago they installed the front of an Austin Mini which holds the till and phone and stuff in the bonnet, this attracts people's eyes and that also helps, the mini frame cost £70 and we only used the front and sold the rest off as scrap metal for £50...
Some of our customers (mainly men and male teens) come in on there lunchbreaks from school or work, wanting a quick trim. A quick £10.00 (Or £7.50 if they have a student card).