What Businesses Do Well In Hard Times?????
Posted November 9th, 2008 by V1-P
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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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...
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.
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?
MIDWIVES
For those who cannot afford the hospital costs, a good midwife would be sought after.
Also, make soap. Staying clean helps people keep their dignity when they are down and out.
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?
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.
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,
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I love this idea
it might really get people wondering and eventually asking questions.
Small business marketing on a low budget (book)
Guerilla Marketing by Jay Conrad Levinson
http://en.wikipedia.org/w...
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The Road Less Traveled by George Strait
Of Droughts and Flooding Rains (Video) Australian Story
Greening the Desert (Video) Water Harvesting Methods
Global Gardener (Video)
Service or sales for the wealthy?
Follow the money...
You will make more money if
You will make more money if you cater to the masses.
http://www.1776solution.b...
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
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
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Survival Foods and Supplies
Survival Foods and Supplies are a BIG HIT at the moment.
http://www.1776solution.b...
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
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.wo...
http://v1-p.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!
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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.
Nobody Knows Who Owns The Fed
Since it is made up of all the banks in the U.S., many of which are private, it is impossible to determine ownership.
My father was a professional musician (violin). Said he made more money then that he ever did. ENTERTAINMENT IS A GOOD ONE. People want to be entertained and get drunk.
Sheldon Waxman
sheldonw72@gmail.com
www.thelawyer.info
www.independentcontractor...
nobody knows?
that info is in chart form in eustace mullins book "the secrets of the federal reserve". you can find it on the web.
it's also an international ownership.
here's the first link that came up when i googled it:
http://www.save-a-patriot...
Ron Paul is My President
High-rise building
High-rise building maintenance (aka window washer) - There isn't a single high-rise building owner/manager in any given city anywhere in the world that doesn't want to protect the equity in their property from corrosion from the elements.
Occupant businesses will first have to shut down and vacate the property with no prospect or hope of leasing out the space in the future before they cut off window cleaning. Besides a lot of the towers are bank buildings and where ya suppose they get their maintenance budget? Need a clue? Same place they get the money.
New buildings are still going up. More glass is going in than there are people qualified to maintain it. A journeyman window cleaner can go anywhere that has glass. If you come with say 10 plus years experience. You can make a lot of money contracting your own work or work for someone else and write your own ticket.
It's hard work though and you have to be cerebral like your life depends on it, because it does. It takes 2-4 years to reach journeyman level depending on who you learn from and your own willingness or ability to learn. Knowledge is power, the power to perform hokey menial tasks safely so you can live to come back and do it again even faster and more efficiently than the time before is how you make it in this business. Unfortunately, it could also ruin you physically.
But, if you're young, strong, and don't know how to say, "I can't". If you like working outside in all kinds of lovely weather and if you kind of get off on the idea of doing risky work at heights. Then, let window cleaning change your mind. lol Hit me up! Let me teach you the words, "I can't". lol j/k
"I tremble for my country when I reflect that God is just, that His justice cannot sleep forever." - Thomas Jefferson
me neither
but it is someone that does good in hard times
Saving Money
Did you know that the modern supermarket was invented during the Great Depression? The guy who came up with it, Michael J. Cullen, was working for Kroger Bakeries, and proposed his idea. It was complex, but it basically revolved around providing a service that saved the customer money.
Kroger management sneered at him, so he quit, and set up the first supermarket, which he called King Kullen, right across the street I think. This was about 1930, at some of the deepest, early depths of the depression, pre-FDR. He got stinking rich doing this. The supermarket chain he founded is still in existence, still family-owned.
The point is, whatever you can do to save your fellow man money, will earn big bucks in a depression.
~jaq
Another depression startup was Gerber Foods.
Gerber got the idea for single-serving canned (in glass) baby foods. But getting them into the stores was a hard sell in bad times. So he came up with his real invention:
He made up a small display for his baby foods. Then he went to the cash-strapped stores with this deal:
- You let me use a couple feet of shelf space.
- I put in my display and products. No charge to you.
- I'll come by a couple times a week and refill it. You pay only for the stuff you sold.
Result: No capital outlay for the store owner (other than the loss of the shelf space - when there were plenty of products that weren't selling and could be displaced). No labor costs for the store owner (other than checking out the product and collecting the money). If it sells - profit. If it doesn't - no loss.
Turns out inexpensive, open-and-spoon-into-baby, baby food sold VERY well - just what Depression Mom needed when she's holding down that extra job at negligible pay to make ends meet. And the business model was cloned by many of the brand-name suppliers. Now a goodly fraction of the stocking of grocery stores is done by the distributors of the product rather than the store personnel.
Now
Supermarkets charge product makers to have space on their shelves - ABC News did a story on that once.
Didn't Buster Brown shoes start in the Depression too.
Business people saw a baby boom and catered to the parents. That is when Mattel, Hasbro and others got started. The baby boom is retiring and finding what will appeal to them now will help.
Plus, statisticians have said there is another baby boom starting with the teen generation. I wonder how they will handle difficult times.
Detective Krum Investigates:
http://victory1project.wo...
http://v1-p.com/
Dog breeding business with a
Dog breeding business with a breed that is known for being great guard dogs and fiercely loyal to the family.
eBay auction assistance business (the type that gets a small fee + a big percentage of sales made on ebay).
I breed Maltese
They certainly are not vicious but they do bark when someone is outside or comes around the house.
Detective Krum Investigates:
http://victory1project.wo...
http://v1-p.com/
Horror Stories
Please do not consider doing this if it would turn into a puppy mill. The mid west is overwhelmed with these types of sickening operations. Early last year 87 adult golden retrievers, many pregnant, were seized in North Dakota from one of these puppy mills. These dogs had been confined in a small area. Most had dog bites. All had numbers tattooed on their ears. Many had chains embedded into their necks and needed surgery to remove them. Most of the females were suffering from problems from having been bred over and over. Reports said that the dogs all needed 3 baths to remove the stench.
You can google all this information but be warned. You will find out things that you could never imagine. Like the stories of all the abandoned barns with cages stacked many layers high and the breeder dogs never seeing the light of day their entire lives. These dogs may never see a human days on end. Many are starving and suffer from diseases.
The lesson here is NEVER EVER buy a puppy unless you know the breeding conditions. Be wary of any breeder who won't let you come to his property. And NEVER buy a puppy from a pet store unless the store brings shelter dogs there for adoption. Sorry to disagree but unless you can verify the breeding conditions NEVER buy a puppy over the internet.
http://www.ragom.org/adop...
http://www.prisonersofgre...
or
you could go to dog shelters rescue Adult dogs and train them. Past their puppy phase more willing to learn and defend. All dogs all ages can learn anything if you know what your doing.
My dog was a rescued puppy
My dog was a rescued puppy mill dog. He was 7 months old when rescued. He would only crawl on his belly, had no muscle tone which was evidence of being caged his entire life.
I got him about 2 weeks after his rescue and by then he was standing at a crouch. His coat was very poor and he did everything he could not to look at me. There was no way for me to do any training...he would just freeze. So for the next several months my older dog basically trained him.
Every bit of progress was small, like baby steps... His first tail wag, the first time he perked up his ears, and the first time he "smiled" while running. His coat is now normal, he developed his muscles and he will give me 2 timid licks. As a bonus he turned out to be a great tracking pheasant hunting dog.
Because he came from a puppy mill he is still a bit timid, but he is a different dog from when I got him. He is very smart, eager to please, happy, and extremely well trained. He lives inside instead of outside in a cage, is well fed, and is beautiful.
I was lucky to get him because the breeder was going to shoot him if the rescue organization didn't come and get him right away.
Ebay is not reliable
I used to own a business that traded exclusively on ebay, and it did pretty well. I stopped it in early 2008 when my inventory was empty, and it looked like sales were starting to decline. That decline has continued, and ebay is now *hurting*. People aren't buying nearly as much.
A second thing to think about is, how reliable will PayPal be in a continuing financial crisis? I'm not holding my breath...
Local craigslist is much more reliable, because you will end up dealing with local folks face to face. Of course, on the flip side, craigslist customers are MUCH more demanding of bargains than even the tightfisted ebay crowd.
~jaq
TN Volunteer
Gave me an idea when talking about CB radios -
Remember those CBs - no license just talk over whatever channel - remember 19 was for emergency use only? If we could get some good resources we could provide back up communication as a business.
Detective Krum Investigates:
http://victory1project.wo...
http://v1-p.com/
Start a Church and a suicide help line. that will work
lol? is it funny? yes? maybe but sad
_____
Action is what defines men
Comedy
and light hearted entertainment, on the other side. Give people a relief from their worries. Music.
Boats ?
Making or working on boats or in the marine industry? Could catch fish or transport via ferry, house boats?
Detective Krum Investigates:
http://victory1project.wo...
http://v1-p.com/
Master limited partnerships (MLPs)
I think Master limited partnerships (MLPs) are a good long term investment. They are company's that pay almost no taxes but in return have to pay there profits to the shareholders in the form of dividends (in these crazy times up to 15 %...). Most of these company's own large infrastructure like pipelines.'This industry has been hit on the stockmarket, but those pipelines wil keep transporting gas for decades to come.
http://www.dailywealth.co...
http://en.wikipedia.org/w...
Cosmetics
Supposedly never really dropped in sales during the depression. Not sure why.
Huh, did not know that.
everyone has to look good in a depression. To keep up appearances of course.
Bodily decay is gloomy in prospect, but of all human contemplations the most abhorrent is body without mind. Thomas Jefferson
Guns and Ammo?
for survival and self defense.
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Brewery!
"The sinews of war are infinite money" ~ Cicero
oh crap
The wife and I just sold our homebrew kit on craigslist... it actually crossed my mind to keep it, but we really needed the $$$.
************
http://www.pyrabang.com - the Patriot newsfeed machine that will take a huge bite out of Google's ad profits and put them in your pocket!
I'm game!!
All tyranny needs to gain a foothold is for people of good conscience to remain silent. Thomas Jefferson
Repos, moving companies,
Repos, moving companies, larger retail stores will be fine - wallmart and target and sams will all grow. Government Jobs are steady
Certain loan modification companies will do great for a while, at least the employees will be busy (dont know about the portfolios though!)
Pretty much any larger construction company in the Houston area should do very well in the aftermath of Ike
Places you should not work - Restaurants, Loan origination
Other "evergreen" ideas- child care, mortuary, cemetery, healthcare
I work with many business owners, in many industries, we're in trouble all across the board folks. Mom and Pop got replaced by an aisle.