Recession Can be a Boon
Like many others, I’ve been thinking a lot about which businesses are recession-proof, businesses that continue to thrive despite an economic downturn. So, I was really interested to read about an industry that is thriving during these lean times despite the fact that it was struggling prior to the economy taking a turn for the worse.
I would never have guessed (but it does make sense) that the recession has given cobblers something to smile about. Cobblers are reporting that sales have increased between 25% and 50% in the past year.
The WSJ article goes on to name a couple of other industries that fare better when most are suffering: CV writers, employment lawyers, and auto mechanics are not complaining about the economy.
People are tightening purse strings and one way to do that is to get a little extra mileage, whether it be a pair of Manolo Blahniks or the old jalopy.
If you’re looking to launch a new business in these uncertain times, consider goods and services that provide a financial gain to the consumer, in the form of savings or earnings. Think pawn shops, used car parts, or a less expensive way to provide a good or service.
