You may be interested in a recession-proof business model because many analysts expect a recession soon. Recessions are defined as two consecutive quarters of negative economic growth, which can destroy once-thriving businesses. Some businesses are “recession-proof” and can withstand economic downturns.
Here are the top ten recession-proof business ideas in bad economy . Understanding recession-proof businesses is the best way to prepare. The following business ideas during inflation are great for starting a business. Businesses built to survive economic contraction but thrive during economic expansion!
Food delivery is a lucrative industry today. It’s a lucrative industry. 2021 US food delivery revenue was $22.4 billion.
This business is growing because more people work and live alone. This group needs food delivered to work or home late at night.
Food delivery companies are also growing because some people prefer ordering food online to going out to get it. Thus, online food delivery can weather the recession.
Some drink alcohol to socialize, while others are addicted. Truthfully, quitting addictions and social habits is hard.
Thus, liquor remains popular. This demand helps liquor delivery app businesses weather economic downturns.
Smaller fast-food chains are more resilient to recessions than upscale restaurants. Despite our wishes, people love fast food.
Budget Branders estimates that Americans spend $1,200 on fast food annually. This demand proves that fast food businesses will survive. Digitalization can benefit these businesses.
People crave cookies, chocolates, and cakes during economic downturns. It lets bakers expand.
Bakeries don’t need expensive shops or property. Online delivery makes it easy to run from home.
Telemedicine is a low-investment business. Without equipment or staff, you can create an online pharmacy website/app and sell medicines online.
Online pharmacies can profit during recessions because people need medicine.
Healthcare is a large, growing market. As the population ages, healthcare demand will rise. Smart healthcare is a USD 178.5 billion market.
Digitizing healthcare services allows patients to avoid travel and doctor visits. Phones provide the necessary treatment.
People would only spend a little on gyms during a recession. They prefer cheaper, more convenient fitness options.
Fitness apps help. Fitness apps offer exercise options, calorie burn tracking, and more. During a recession, a fitness app is a great business idea.
Never risk health. Thus, a vet business can generate steady profits. People never cut costs, regardless of the economy.
Medical cannabis delivery is growing. More nations allow marijuana delivery and trade. Medical professionals prescribe medical marijuana for recovery through a cannabis delivery app. Users can also find and order cannabis. Many patients need medical cannabis. Thus, this business should survive the recession.
Every company seeks customer insight. Marketing consultants offer this. It aids market research and strategy. Online marketing consultancy may do better in a recession than offline businesses.
Social media consulting
Many business people use social media. These people pay good money to increase their awareness and reach through these mediums. It boosts brand awareness and clientele.
Even in a recession, people need social media help. You can help them grow their online presence and make more money online. In that case, you’ll find customers who want your experience and expertise.
Accounting consultancy helps businesses in all industries. All economic conditions require these services to track financial data and keep companies afloat.
As more companies embrace digital marketing and social media, the demand for accounting services will rise. They must evaluate their performance and success. It implies that clients will continue to seek out experts in this field who can provide accurate financial data to make better growth decisions.
Baby products are always in demand, making them a good business start. This industry has no boom-bust cycles. Baby products can be sold online, at trade shows, retail stores, and flea markets. Baby items food, diapers Baby blankets, onesies, and toys
Another recession-proof business is hygiene. They are easy to buy, ship, advertise, and brand and are used regardless of market conditions. They’re also easy to mass-produce for lower prices.
Alibaba lets you buy wholesale hygiene products from China or India and resell them online. Since they don’t make the product, big box stores don’t have these sourcing options, giving you an advantage.
Grocery delivery is a recession-proof business because it delivers what customers want cheaply.
Why not make it easy for people to buy groceries and other items in a world where many don’t want to? This is profitable and has low capital.
If you run an e-commerce store, this business can benefit you (or have another product or service on site). You could bundle both items or offer discounts—the possibilities are endless!
Recession-proof businesses should consider online reselling. Reselling, which can be done from home or while traveling, is a growing industry.
Online reselling is ideal for shoppers who want to make money while sleeping or traveling. Shopify and BigCommerce allow you to buy pre-built websites.
Consignment stores sell goods for owners. Consignment stores buy your goods and sell them at your price.
The consignment store can sell your ten pairs of $10 shoes at retail prices (or whatever price they want). The store will return your items and refund your money minus storage and promotion fees if they don’t sell within 90 days.
Consignment stores are popular because they help people sell unwanted items without a buyer. They also give sellers who need more storage space another option. If this fits in with town events, open one!
Music streaming is a great recession-proof business. Streaming services don’t rely on traditional media outlets’ revenue sources, which is a major benefit.
Spotify relies on advertising and ticket sales, while Pandora uses listener subscriptions and advertising.
Streaming services can be used anywhere, anytime, without infrastructure or expensive equipment.
Recessions increase dissatisfaction, so people may seek love to cope. Your business can use Tinder or a dating website to collect subscription fees. Effective online dating apps may cost more than other apps. A great app can cover the costs.
Online repair services are good recession businesses. People prefer to keep things rather than replace them in uncertain times. Repairs are cheaper than replacements. Financial crises may prevent people from buying expensive replacements. Thus, an online repair business can survive uncertainty.
Starting a business in one of the above industries is a good idea if you can adapt it to succeed in a bad economy. You can also build a loyal customer base by establishing yourself as a quality business.