Still your nerves about opening your own business in an occasionally volatile economic climate.
Opening your own business in an economic climate that can be volatile can be extremely nerve wracking. However, if you do your research and make a smart decision, you can find industries and business models that are truly recession-resistant.
Senior Care
Senior care is one of the most truly recession-resistant business sectors that you can get into. A franchise system in the senior care industry is extremely lucrative because the training required to enter this industry can be daunting. The need for medical knowledge and expertise can sometimes be an unnecessary barrier to entry.
Not only will there always be a need for senior care with the aging baby boomers and beyond, but sometimes these facilities are not only a convenience, there is a required medical need. With the aging population, there are certain procedures and necessities that cannot be administered by loved ones in their then current living situation.
Fitness
Health and fitness knows no budget. This has proven to be true time and time again. Even when the economy is failing, the health and fitness industries are consistently on the rise. With society becoming more and more health conscious each passing year, this industry is booming and showing no signs of a slow down! Take for instance Boutique Fitness – an industry proud to show year-over-year growth since 2010 over and beyond 400%!
Professional Services – (aka B2B)
Professional – or B2B – businesses able to successfully make themselves recession-resistant for many reasons. First, budgets are often dictated by high-level business needs, meaning that funds will often keep flowing despite minor ebbs and flows in operating income for your clients. Having clients across industries and income classes will make sure your business stays afloat when so many others may be floundering. Some of these have an extremely low investment requirement!Careyann Golliver, a FranChoice business consultant in Denver, Colorado, can be that guiding light in your entrepreneurial journey. With over two decades of experience in entrepreneurship and franchising, she can provide critical feedback and guidance. Contact Careyann today 303.359.4021 or cgolliver@franchoice.com, or visit her on the web at careyann-golliver.franchoice.com.