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Here are 11 recession resistant businesses that can make you over $10,000/month (#2 can be passive):
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Recession is the buzz word of the day.
The market has tanked the last 6 weeks and many see their retirement accounts plummeting.
Recessions and depressions bring hardship, but they don't have to for you.
Here are 11 great businesses to buy even when the market is in turmoil:
The market has tanked the last 6 weeks and many see their retirement accounts plummeting.
Recessions and depressions bring hardship, but they don't have to for you.
Here are 11 great businesses to buy even when the market is in turmoil:
1. Assisted living for seniors
Even in the worst economic times, people still get old.
With the baby boomer generation retiring, more now than ever before are looking for care.
Even in the worst economic times, people still get old.
With the baby boomer generation retiring, more now than ever before are looking for care.
There are many that are financially comfortable, and can easily afford the care they need during their latter years.
Assisted living facilities can be single family or multi-family homes that take care of a small number of residents for a sizeable monthly fee.
Assisted living facilities can be single family or multi-family homes that take care of a small number of residents for a sizeable monthly fee.
2. Vending machine business
Data has shown that regardless of economic highs and lows, people love snacks.
Who'd figure?
Data has shown that regardless of economic highs and lows, people love snacks.
Who'd figure?
Placing a vending machine in a high traffic area with high converting snacks is a tried and true approach to a profitable venture.
It also can be entirely passive if you hire a management service to restock the machines for you.
I am checking these out myself.
It also can be entirely passive if you hire a management service to restock the machines for you.
I am checking these out myself.
3. Pet grooming
With millennials, pet ownership has increased more than any previous generation.
Market research company Mintel, found that 40% of Americans aged 30 and 49 are 'highly' interested in pet care such as grooming services.
With millennials, pet ownership has increased more than any previous generation.
Market research company Mintel, found that 40% of Americans aged 30 and 49 are 'highly' interested in pet care such as grooming services.
4. Plumbing
Pretty self-explanatory.
Regardless of economic environment, if your toilet isn't flushing, people hire a professional to get it fixed.
Pretty self-explanatory.
Regardless of economic environment, if your toilet isn't flushing, people hire a professional to get it fixed.
5. Auto repair
As essential as plumbing.
As cars have gotten more advanced, so have the repairs.
Regardless of the market, the US is a automobile nation and people need to be able to get from place to place.
As essential as plumbing.
As cars have gotten more advanced, so have the repairs.
Regardless of the market, the US is a automobile nation and people need to be able to get from place to place.
6. Child care services (daycare)
In 2019, the child care industry was valued at $54.3 billion, and is projected to rise at a compound annual growth rate of 3.9% up to 2027.
In 2019, the child care industry was valued at $54.3 billion, and is projected to rise at a compound annual growth rate of 3.9% up to 2027.
As more mothers decided to join the workforce, the more demand there will be for this service.
Recessions accelerate this trend as more homes need to become 2-income homes in order to pay their monthly expenses.
Recessions accelerate this trend as more homes need to become 2-income homes in order to pay their monthly expenses.
7. Tax preparation
The only things that you can count on in this world are taxes and death.
Enough said.
The only things that you can count on in this world are taxes and death.
Enough said.
8. Accounting
Similar to taxes in necessity.
Businesses usually save money with hiring an accountant as it helps them to see where their money is going and to make cost-effective decisions.
Similar to taxes in necessity.
Businesses usually save money with hiring an accountant as it helps them to see where their money is going and to make cost-effective decisions.
9. Cleaning companies
The economy has no bearing on the many rules and regulations that commercial and public spaces adhere to for hygiene and safety reasons.
Cleaning services are recession proof and will continue to do good business during an economic downturn.
The economy has no bearing on the many rules and regulations that commercial and public spaces adhere to for hygiene and safety reasons.
Cleaning services are recession proof and will continue to do good business during an economic downturn.
10. Nail salons
According to research, inexpensive luxuries like pedicures and manicures do not diminish during recessions, but actually increase.
If you cannot afford the latest Louis, then getting your nails done is a conciliatory prize.
According to research, inexpensive luxuries like pedicures and manicures do not diminish during recessions, but actually increase.
If you cannot afford the latest Louis, then getting your nails done is a conciliatory prize.
11. Delivery services
As more and more purchases are made online, from meals to every product imaginable, delivery is becoming more of a necessity in daily life.
Delivery services are set to grow by an estimated 5.5% per year.
As more and more purchases are made online, from meals to every product imaginable, delivery is becoming more of a necessity in daily life.
Delivery services are set to grow by an estimated 5.5% per year.
I hope you received value from this thread.
If you did you can:
1. Follow me @benkellyone
2. Retweet the first tweet in this thread to share it https://twitter.com/benkellyone/status/1526170450799230976
If you did you can:
1. Follow me @benkellyone
2. Retweet the first tweet in this thread to share it https://twitter.com/benkellyone/status/1526170450799230976
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I write a short weekly essay on ideas and strategies that open your mind and teach you how to build generational wealth.
Talk soon. https://benkelly.substack.com/
I write a short weekly essay on ideas and strategies that open your mind and teach you how to build generational wealth.
Talk soon. https://benkelly.substack.com/
