Home > Business > Entrepreneurship
Created on: May 04, 2009 Last Updated: January 08, 2012
With the recession being one of the top stories in the media, there are many people wondering what they are going to do to make ends meet. With all that we hear and see, it leaves us looking for a silver lining in this dark cloud hanging over us. Well, the silver lining can be found in a wide variety of businesses that have been found to be recession-resistant.
Fast Food franchises: Businesses like McDonald's, Burger King, Dunkin' Donuts, and KFC have actually seen an increase in business during the recession. With many people looking to save money, the fast food option, offering various selections such as the dollar menu and value menus make these business very appealing. The only downside is that as business increases, according to current news reports, so do our collective waistlines.
Tax and Accounting Services: There is an old saying that states that nothing is certain but death and taxes. With money being tight, people are looking to account for every dollar they can. Businesses such as Jackson Hewitt and H&R Block are seeing lots of people come in hoping to find every option they can to make the most of the money they have.
Education. Even with the current slowdown, parents are still investing in their children's future in hopes that they will not have to face the tough decisions when it comes their time. Sylvan Learning Centers and Cumon Learning Centers are both seeing high levels of business, even with money being tight. Also, accredited online universities are seeing boosts in enrollment so people can get retraining, earning certificates and degrees in a field not so effected by the recession.
Entertainment: When times are down, people need to escape from time to time. Movies and shows are seeing increases all over and new film studios are opening up in places like Michigan, supplying jobs for many people.
The repair industries: In a bad economy, its usually more economical to repair than replace. Car repair companies like Maaco are seeing booms in business as are many appliance repair services.
Senior and child care services: Many fields continue to benefit from the baby boomers getting older. Businesses like senior housing, home retrofitting, geriatric care management are seeing boosts across the board. With, in many cases, both parents now having to work, child care is seeing increases as well.
Temporary Employment Services: These days, companies are looking to save money buy hiring a lot of temporary and part time workers. Companies like Manpower Inc. and Kelly Services are getting more and more experienced people joining the ranks of the temporary workforce.
As always, those businesses that fall into the necessities category are also seeing steady business. Hospitals, grocery stores, gas stations, drug stores, barber shops, salons and pet supply stores continue to do well.
So, even with the sky currently looking grim, remember, there are always going to be businesses that will need people to supply the services we all need when the times are tough.
Learn more about this author, Matthew Johnson.
Click here to send this author comments or questions.
Below are the top articles rated and ranked by Helium members on:
Recession-resistant franchises
by Krymzen Hall
A recession occurs when the nation suffers negative growth. To some, opening a business during this
With the recession being one of the top stories in the media, there are many people wondering what they are going to do
by Kate Johns
The current economic recession is hitting everyone hard in the wallet. Even people who are well off, are cutting
by Mark Askeda
The current economic severe downturn has created many financial challenges for the business community. Many companies are
by Chris Cannon
With franchises seemingly popping up everywhere and business on the downturn, it's often a case of filling a gap between
View All Articles on: Recession-resistant franchises
Helium Debate
Cast your vote!
Should the US continue China's privileged trade status?
Click for your side.
Featured Partner
National Center for Policy Analysis (NCPA)
The National Center for Policy Analysis (NCPA) has partnered with Helium, giving you the chance to write for a cause. Browse NCPA's featured titles, pick an issue and write! You can also learn new perspectives on issues that yo...more