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Businesses To Think Twice About Starting In A Recession
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Article Overview: You’ve recently become unemployed and the idea of starting a business is very tempting. There are a few businesses that you should be wary of starting though. Here are a few and the reasons you should think more than once.
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Businesses To Think Twice About Starting In A Recession
You’ve recently become unemployed and the idea of starting a
business is very tempting. There are a
few businesses that you should be wary of starting though. Here are a few and the reasons you should
think more than once.
That Bar In The Sun!
During a rain soaked, wet day, it is tempting to sell up
everything and set up that bar in Spain/Florida/Anywhere sunnier. You’ve been there on vacation and did not
want to come back home. If you take off
the sunglasses and have a good look around, you will see that the bars are open
long hours and the owners are pasty white and tired. That is because you will need to work long
hours and not be able to get out to enjoy that sun. These types of bars are highly competitive
and the opportunity of making a profit is small. Ditto for bars near ski slopes etc.
Bed and Breakfast
The thought of letting out your spare rooms, rattling up a
bit of breakfast and raking in the profits must seem tempting sometimes. First of all you are going to be subject to a
whole pile of health, safety and fire regulations. Then there is the extra insurance in case you
poison your guests or they fall down the stairs! You are going to need a lot more marketing
than putting a vacancy sign in the window – unless you are on the sea or lake
front of course. If all of this does not
deter you then remember that you will be having strangers wondering all over
your house breaking things and the person that says good night at 11pm is the
same one that gets up at 6am to make an early breakfast for them.
Independent Consulting
This sounds a great idea – and for many, me included it
is. You did need to understand that you
will only be earning that great charge out rate for about 40 – 50% of the
time. The rest of your time you will be
chasing work. Factor in spending loads
of time away, working without the support of a large company and you can see
why independent consulting is only for the gifted few.
Good luck at what ever business you choose.
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