Alternatively, maybe you feel there is a recession ahead, and you’re looking for a business idea that will not only survive but thrive during uncertain times, which we’ll also cover. Sadly, families require funeral services, regardless of the state of the economy. Due to demand, businesses providing support to families suffering from a loss are typically recession-proof. For better or for worse, health needs do not wait for a recession to end. As such, the healthcare sector is uniquely positioned to withstand recessionary conditions.

• IT services are any service that provides technology solutions for businesses.
• To succeed in property management, providing excellent tenant services is crucial.
• It is probably because of the relative inexpensiveness of a tattoo compared to how long it lasts, plus getting ‘inked’ has been growing in popularity as each generation of people emerges.
• Recession-proof businesses also tend to provide products or services that are both affordable and deliver high value for the price.
• Telecommuting and working from home are only likely to get more popular, especially with so many businesses realizing it’s possible and saving on overhead costs like rent.
• Add different income sources like subscriptions, workshops, consulting services, or new product lines to create more stability.

Consignment Stores

You have to make a name for yourself and build a portfolio and have a sanitary environment from which to work and know that your best advertising is your ink. Hardworking, business-savvy individuals are great candidates for a grocery store business, which https://www.bookstime.com/articles/what-is-lease-accounting is another one of many recession-proof business ideas. People have to eat and when they cannot afford to eat out, they spend at the local grocery store, so your job is to make food easy to come by for them. While it’s possible to get into this market as a beginner, having previous experience with managing a grocery store and relevant experience working with grocery software is a major plus. But even without a recession in play, thrifting and bargain hunting are gaining popularity. Census data, retail sales at used merchandise stores are on track to top $24 million in 2022, up from $16.4 million in 2020.

Start a tax preparation business

Launching a fitness app is a great business idea, especially during a recession when people wish to cut their spending. Businesses that prioritize innovation and stay ahead of market trends are better prepared to address emerging challenges. Innovation can lead to improved efficiency, cost savings, and the creation of products or services that cater to changing consumer preferences. Though no single processor is best for all business types, the PSP we most often recommend to new businesses is Square. As our Square review explains, Square combines flat-rate payment processing with industry-specific point of sale systems, an online store builder, invoicing, real-time reporting, and much more. For example, during the pandemic (which included a brief recession surrounded by major economic disruption), in-person fine dining establishments were hit hard.

• It’s also essential to have a strong online presence, whether through a website or social media, to help attract customers and showcase the items you have available.
• By providing valuable, affordable services or products, small businesses can build loyal customer bases that support them through tough times.
• Both residential and commercial cleaning services see demand, particularly if they offer specialized services like sanitation.
• People have to be able to get around, mass transit has to keep running, and businesses need to keep their wheels turning.
• If not, are the rents too high to make a significant profit, and are you going to get enough drive-by traffic to make it at the location?
• With more people cooking at home instead of eating out, knife sharpening could be a recession-proof service to offer.

Online Reselling

If you start a business that relieves them of this hardship, you will make lots of profit in return. A tattoo can be a meaningful (and relatively cheap) form of self-expression during a frustrating and difficult time. Tattoo parlors across the country reported an increase in business during the economic crisis. Only 14% of Americans had a tattoo in 2008, but that number was up to 21% by 2012.

• It meant accepting NFC (contactless) payments in-store to minimize contact, keep the lines moving, and give customers some peace of mind.
• You could even run this small tech industry business as a side hustle alongside your day job to earn a little extra cash.
• In particular, recent U.S. tariffs have pushed up consumer prices and disrupted supply chains.
• Recession-proof businesses are those positioned to survive and thrive during an economic slowdown, like the one we’re experiencing now.

Amazing Recession Proof Business Ideas

Thus, you can turn it into a passive income by launching online classes if recession proof small business ideas you have a skill. All you need is to choose a target audience, create the online course and choose an online learning platform where you can sell the course. Content writing involves writing, editing, and publishing content in a digital format. Examples of content include a blog post, product description, and podcast script—eBooks, press releases, or landing page content.

Providing exceptional customer service and personalized experiences can help retain customers even in tough times. Some industries are more bookkeeping recession-proof than others, including grocery stores, chocolatiers, pet care, and reselling businesses. Recession-proof businesses also tend to provide products or services that are both affordable and deliver high value for the price. While people may cut back on luxuries during a recession, they continue spending on reasonably-priced necessities that offer a lot of bang for their buck.

Products like food, supplements, treats, and other pet essentials are recession-proof because they’re necessary for consumers’ beloved four-legged friends. This is especially true for Americans who spend more on their pets than consumers in other countries. People will always need items like soap, bleach, sanitizer, and other cleaning products to keep them, their family, and their homes clean and safe. While consumers will continue to buy the essentials, food brands may see a decline in average order volume and sales due to tighter budgets.