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What Businesses Do Well In Hard Times?????

I thought this question might generate some great ideas to help those who have lost their job and may need some new ideas to make it on their own.

So I ask - what types of business does well in recessions and hard times. Thanks for all those who post ideas to help other patriots.



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Crime increases in hard times

Any business that deals with crime related services or supplies. Bail bondsmen, burglar alarms, firearms, ammunition, firearm instruction. Hard times means more personal possesions end up at the pawn shop or on craigslist.
More things are repaired and not replaced. More people if they can will heat with wood.

RickStone

Auto repair shop

My father in law and I have started an auto repair shop and with out any advertising it is going well. Now of course not everyone can do this but my father in law has been a mechanic for 35 years with all the tools needed and I am a pretty good mechanic so we decided to go into business for ourselves. There are less new cars being bought so people will be driving their old ones longer. Hope the bad economy helps us make a living.

Travis

www.standingforliberty.org

Fighting for TRUTH, PRINCIPLE and INDIVIDUAL LIBERTY!!!

www.standingforliberty.org

Fighting for TRUTH, PRINCIPLE and INDIVIDUAL LIBERTY!!!

Campbell's Soup, Peanut

Campbell's Soup, Peanut Butter, Jelly and Wonder Bread!

Experience hath shewn, that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny."- Thomas Jefferson

There is no Left or Right -- there is only freedom or tyranny. Everything else is an illusion, an obfuscation to keep you confused and silent as the world burns around you." - Philip Brennan

"Invest only in things that you can stand in front of and pr

Republicae's picture

It depends on just how hard

It depends on just how hard times get!

http://www.1776solution.blogspot.com

"Rags make Paper; Paper makes Money; Money makes Banks; Banks make Loans; Loans make Beggars; Beggars make Rags"

http://militantjeffersonian.com

"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun

Bars and liquor stores

Bars and liquor stores always do well in hard times.

And food

people always need to eat, and love to buy a meal they don't have to prepare themselves. Not upscale though: think hotdog stand.

As a small small investor I

As a small small investor I was wondering the same thing. After countless hours of googling and looking, I could not find any publicly traded companies that did well during the panic of 08. A few companies such as Exxon and Johnson & Johnson didn't do horrible but you still would have lost money. I am guessing that the next downturn will be deflationary because credit will contract and people will rush to the dollar as they have before. I would find large companies that have dividends and offer a service or need instead of a want as others are saying. I am waiting till the next downturn to buy lots of silver, and then will buy stocks at the bottom or on the way up.

Come on now people!

Are you really going to sit there and write about how we should be supporting local shops and all that? Why? For the sake of sentimentality.

I am sorry but the market is a harsh playing field. Another entrepreneur has made products more readily available and cheaply priced, freeing up more precious and rare resources for the general public - of course they are going to shop there!

Instead of offering your own personal and sentimental "bailout" to these small businesses, allow them to close and for the resources that were misallocated to be put to proper use. What, you ask? Well I am not the one to say - the how-many-thousands in your town and the many more prospective customers of whichever venture comes out of said reallocation is whatever it will be.

Hell, if the market for some reason chose to use toenails as money I'd be in :) Except mine don't grow very fast so I would be poor right off the hop...

- - - - - - - - - - - - - - - - - - - - - - - - - - - -

Progress is precisely that which the rules and regulations did not foresee. - Ludwig Von Mises.

Ugh

It wont kill you or anyone to avoid WalMart and other stores like them..1 day a week and go to another store and support them..Just dont buy ammo...buy something else...Is there a gas station that isnt part of a chain? Ok the gas is a bit higher but would it kill you to buy 5 or 10 gallons from them?
There are so many things that could be bought in other places...things you can find that are made in AMERICA..or hell Canada or..I bought a jacket the other day.just a wind breaker..made in Russia...But my point is..after Sam Walton died..WalMart dumped most things MADE IN AMERICA and started pulling in loads of crap from China...you know I think their new ad should be...*Welcome to WalMart where we sell cheap crap brought to you by cheap labor and loss of America jobs..Enjoy it and remember..this death is for you*
I also believe if this where to be done the best day to start on would be the biggest shopping day we have before Christmas....After Thanksgiving Day Sale

Freedom is another way to God...A corrupt government is a straight way to hell.

I believe in Hope & Change..I Hope the government will Change
Spindale-Rutherford County-North Carolina

When times are hard

Any business that is not based on what people want, but what people need. Any service based business centered towards maintaining what people own because there is no longer the money or credit to buy new stuff. If your car breaks down then you are going to have to have to pay someone to fix it because you can't afford to trade it in for a new one anymore. The repair business and with Obama's tax codes is will have to be a very small business. The major question is not what type of business will do well but what business dose your community need the most? The high end, high cost Starbucks saw profits dropped 94% this quarter while Dunkin Donuts went up. People are getting back to the basics. We are truly in the time of downsizing where dreams of a national franchise are replaced with just a profitable local business. While the Daily Pail may give you many good ideas, the real place to be asking this question is in the community you live in and what their needs are. I think big business expanded at a rate based on the idea that growth would continue, that demand would continue to grow, and they keep building a new Starbucks on every street. We are heading towards a sharp downturn in demand and big business that was based on new growth is going to take a major hit. I also think that people are going to turn back to locally owned business. To chose to do business with the people in the community that they know and own that business and away from the major chains. Maybe we should all get back to doing business with the people we know and trust and not the multinational corporations?

That's easy...

Alcohol, tobacco, and firearms.

Think about what could foil your business ideas.

Example:

Food will only increase in value? How about if there's a virulent plague and 80% of the population dies?

New Hampshire and Ecuador.

Only if...

The plague wiped stupidity off of the face of the earth, it would be mother nature doing her job. Darwin theory lol, bye bye McCain and Obama supporters ;)

Curious thought

I think it would be a great idea to..at least once a week...all on the same day if it can be done..to ask people not to shop at WalMart..KMart and other big chain stores..and get people to support the small shops...And when we leave be sure to leave a message...something like:::
You have just been visited by a member of the REVOLUTION....
It might start them to ask questions..to learn..and we could help them..maybe..stay in business

Freedom is another way to God...A corrupt government is a straight way to hell.

I believe in Hope & Change..I Hope the government will Change
Spindale-Rutherford County-North Carolina

Ha, ha!

I buy most of my ammo at WalMart, other preparedness stuff too. I appreciate the low prices because they help me buy more preparedness stuff. Why would I want to pay a lot more at some other store? That's not what the free market is about,
.

New Hampshire and Ecuador.

I love this idea

it might really get people wondering and eventually asking questions.

Service or sales for the wealthy?

Follow the money...

RP R3VOLution

Republicae's picture

You will make more money if

You will make more money if you cater to the masses.

http://www.1776solution.blogspot.com

I would remind you that extremism in the defense of liberty is no vice! And let me remind you also that moderation in the pursuit of justice is no virtue. Barry Goldwater

http://militantjeffersonian.com

"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun

In the restaurant biz they say, "If you feed the classes you

dine with the masses. But if you feed the masses, you'll dine with the classes."
Although I will say, you make more money in one shot with the wealthy but you get far fewer shots.

This really shows your ignorance, in my opinion.

"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
---

government of the people, by the people, for the people
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Republicae's picture

...yes, and your apparent

...yes, and your apparent lack of understanding on the subject of business is probably why you have whined so much about being poor over the last year... Greed.

http://www.1776solution.blogspot.com

"Rags make Paper; Paper makes Money; Money makes Banks; Banks make Loans; Loans make Beggars; Beggars make Rags"

http://militantjeffersonian.com

"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun

Republicae's picture

Survival Foods and Supplies

Survival Foods and Supplies are a BIG HIT at the moment.

http://www.1776solution.blogspot.com

I would remind you that extremism in the defense of liberty is no vice! And let me remind you also that moderation in the pursuit of justice is no virtue. Barry Goldwater

http://militantjeffersonian.com

"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun

Encouragement

This is not so much an idea of a particular business that would do well, but a marketing attitude that will help any hard-times business thrive. At the risk of sounding Obamaesque, I present the business plan of offering HOPE.

In recent years, customer service has taken a back seat to price points. In desperate times, people are overwhelmed with desperation. What they will need is encouragement.

So whatever product or service you plan to market, be the company that people want to go to, because they get a good dose of well-needed cheer patronizing your company. Be uplifting and encouraging in any way you can:

- first and foremost, in your attitude, but also in any marketing signage or ads. As Walt would advise, don't pretend optimism; be optimism.

- When you deliver your product or service, present the customer with a simple card with a bright uplifting phrase (remember the video of grocery-bagging Johhny?)

- Don't let your customers be faces. Get to know them personally. Find commonalities as you chit chat. Next time they come in, ask how that project turned out that their kid was working on (shows you remember them and care about their family). Do this genuinely, not just to keep a customer, and you'll be richer than money can make you.

- Please the customer by going above and beyond the call of duty.

- Give every customer all your respect, regardless of how they're dressed or educated. Especially in times of trouble, people feel they've lost quite a bit of respect and self-esteem (this is particularly true of men who have lost jobs, or had to accept jobs way below their usual ability and/or pay grade). Treat each person like royalty, and as you win their hearts, you will energize them to accomplish more themselves (and likely treat others around them with more kindness and cheer).

- Be quick to lend a hand with other small upstart businesses in the area. Patronize these mom-n-pop ventures yourself; informally share business ideas and leads with each other; and/or start an entrepreneurial networking group (where you meet regularly to share leads and ideas). If you create such a group, make sure you all agree to have Friendly, Uplifting Customer Service the #1 focus on every member's mind. Your circle can come to be known as the friendly group of businesses that lifts up and energizes customers.

- Build synergy with other upstarts: if you market CB radios, have business cards for other upstart companies that fix or sell used cars, sell books on communication options, or electricians/installers. Make sure those companies have your cards to pass out, as well.

- Familiarize yourself with the Disney Keys to Excellence. Yes, seriously. Google around for more information on that.

- Read How To Be Like Walt. If you can't imagine why you should bother reading a biography of Walt Disney, then I strongly suggest you look at my ancient posts regarding the value of this book, by reading Inspiration!! - Part 1, then Inspiration!! - Part 2, and finally Inspiration!! - Part 3. No one bothered to read these (or, at least, comment on them) when these were posted way back in January of this year; I hope at least some of you will take the initiative to explore the gold mines of information awaiting you there (I'm not being immodest; I'm highly recommending the points laid out in the book).

I'm not "fanofwalt" just because I like Disney movies and theme parks. I'm a fan of Walt because of the inspiration he was, and continues to be. I know some folks have issues with Walt Disney because of alleged associations he supposedly had long ago; if that's you, I suggest you look at the content of the information and not dismiss these wonderful lessons based upon your personal perception of the man.

* whew * Well, I hope some of you find the above to be useful.

LOVE your post!

thanks!

Thanks fanofwalt

these are great ideas and I will look into your former posts.

Fanofwalt

You are right - customer service has gone by the wayside with most businesses today. I will look at the information you posted and thanks for a good reply.

Detective Krum Investigates:
http://victory1project.wordpress.com/
http://v1-p.com/

Detective Krum Investigates:
http://victory1project.wordpress.com/

Quick money now.

It's not glamorous, but gutter cleaning can make you some serious money this time of year. You can charge anywhere for 40 to 100+ for this job. All you need is a couple of ladders. Two to Three guys work best. Two to do the work, and one to go door to door selling the jobs, which is easy if you're already working across the street. I did this every year when I was younger, and easily made over $300 a day, Might do it this year with my son, since other work is slow.

Watch out for power lines though!

Isn't that assuming that

Isn't that assuming that 'someone' owns the Federal Reserve? It was my understanding that it was a conglomerate of banks, run by the Federal Reserve Chairman.