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Businesses that are still making money in this economy

Written by: David Dolitsky

Article Overview: What does it mean when I tell people that a business is recession resistant? Let's look at this phrase more closely. To me the definition of a recession resistant business is a business that continues to thrive, grow, and make money in any economic condition. In my Economics class I studied NEEDS AND WANTS.

Businesses that are still making money in this economy

What does it mean when I tell people that a business is recession resistant? Let's look at this phrase more closely. To me the definition of a recession resistant business is a business that continues to thrive, grow, and make money in any economic condition. In my Economics class I studied NEEDS AND WANTS. Needs are things that we as consumers need to maintain our life styles and the daily activities, in other words "NECESSITIES". Things like food, clothing, a roof to live under etc. Wants are things we want to have, but are not necessary to maintain our life styles or daily activities. Things like 50" Plasma TV, fancy car, diamond ring etc. When the economy is good and people are making money, we tend to spend on our wants, however when the economy is bad, we tend to cut down or even eliminate wants, however our NEEDS never go away, so here is a list of industries that I feel are NEEDS Category.

* Automotive Repair - Cars will be around forever and they require repairs and maintenance and regardless of the economic conditions, we will continue to spend money on our cars.
* Children Businesses - Everything from tutoring to enrichment programs, after school programs, birthday parties, test preps. Parents will spend money on their kids well being.
* Senior Care - Just like our children, we take care of our parents and grand parents. Whether they have illnesses, need help around the house, companionship one thing for certain, is that we will get old and will have special needs. This industry is one of the most stable and fast growing.
* Fitness/Weight Management - Here is an industry that has been growing rapidly for the last decade and has gotten a great deal of media coverage. We as Americans are the most overweight people in the world and there have been plenty of studies done that have determined that obesity causes many other health problems.
* Hair & Beauty Salons - I remember a Saturday Night Live skit where Billy Crystal played a character who used to say "Darling, I'd rather look good than feel good" Grooming is a necessity. Men, women, kids need hair cuts, facials, manicures etc. Most of us need these services, because of our professions, our jobs and schools.
* Coffee Industry - You might be surprised by this category. Every morning, as I drive to work, I can't help but notice full parking lots of cars, long lines at drive thrus of Coffee Houses. I myself stop every morning and afternoon to pick up a cup of coffee. With Specialty coffees, ice coffees and other drinks available today, this industry is a year round business which seems to thrive in any economy.
* Pet Care - Pet industry is a billion dollar industry and pet owners consider their pets as members of their family, thus spend money on the well being of their pets, from grooming, training, spas, gourmet treats, camps, etc.

Last thought, most Millionaires did not become rich from a paycheck.

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Article Tags: automotive repair, billy crystal, birthday parties, companionship, diamond ring, economic condition, economic conditions, enrichment programs, fancy car, food clothing, grand parents, hair beauty salons, last decade, plasma tv, recession, repair cars, saturday night live, saturday night live skit, test preps, weight management



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Re: Do you have an affinity to making money??? - Hey Yinka, Of course I like making money. However, I get more satisfaction from doing what I love and have a passion for that brings in money vs. doing something I hate and making money. There's little satisfaction if you're working hard for someone else and making them money, while you make a measly paycheck. Some people are okay with this, but they may not be as happy as they could be if they did what they loved to do. In either case, it's important to do what you love. The money will follow.
Getting *back* to the next step - The last year has been tough on a lot of people, as the economy slides, investment slides, people stop spending, ya da ya da ya da. In these bad times, we have to work twice as hard just to make the same amount of money we were making last year! So how do we recover?
Re: From $0.30 to $300 / Day on Google AdSense Part 1 - How To M - Thanks for the feedback Jeff! Testing is a recurring theme here at SES Toronto. Website owners are trying to get the most out of every dollar and minute that they spend on their business. People here are considering themselves business owners instead of website owners much more than in the past which is great to see. I think the economy has forced people to buckle down and focus in on what makes money and making your website an actual business.
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