Recession-Proof Profits: Low-Cost Businesses That Thrive in Any Economy

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There was a time, and it wasn't so long ago, when starting a business, almost any business, was an expensive undertaking. Renting out a location, getting insurance, paying for advertising -- it all added up to big charges on your credit card . But things are different now, mostly due to two transformations:

• Most businesses can be virtual these days. You don't need to rent space, and your website and social media presence can act as your storefront.
• Especially since the pandemic, people are used to shopping online, communicating via text and DM, and altogether not thinking it's weird if someone works from home. Most of us do, to some extent or another. That's good news for the frugal startup.

Given that, it is really a fairly easy thing to start a business without spending a lot of money today. While that alone is good news, the savvy new entrepreneur should pick a business that is pretty much recession-proof, thereby almost assuring his or her success.

Here are four of the best low-cost, recession-proof businesses that you could easily start today.

1. Repair services

The business: Repairing broken or worn-out items.

Why these businesses are recession-proof: During economic downturns, people prefer to repair items instead of buying new ones in order to save money. Given that, if you are handy, this could be a great business for you. Homes always need repairs, as do cars, furniture, electronics, shoes, and clothes.

Why they are inexpensive to start: To begin, the initial investment should be minimal. Often all that is required are some basic tools and skills, transportation, and some advertising. Craigslist and Facebook Marketplace ads can be free (or very cheap), and don't forget social media ; that can be a bonanza of free word-of-mouth advertising.

2. Cleaning services

The business: Along the same lines, cleaning services, either for homes or commercial spaces, are always in demand and are quite inexpensive to start.

Why these businesses are recession-proof: Even during recessions, maintaining a clean environment is essential for health, safety, and peace of mind. Moreover, during recessions, people often work harder, thereby necessitating getting help to keep homes and offices clean.

Why they are inexpensive to start: Cleaning supplies and basic equipment, such as vacuums, mops, and cleaning products, don't cost much. And as with repair services, marketing can be done very inexpensively online.

3. Digital marketing services

The business: Social media and digital marketing management .

Why these businesses are recession-proof: Online marketing is always changing and most small businesses would rather run their business than manage their social media and digital marketing accounts. Yet businesses need to maintain visibility, especially during economic downturns. That's where you come in.

Why they are inexpensive to start: All you need are the skills and a computer. And keeping your skills up to date is fairly easy and inexpensive as well, given the plethora of free YouTube and TikTok videos available. And marketing? Presumably, you are the pro at that!

4. Pet care

The business: Caring for Fido and Fluffy.

Why these businesses are recession-proof: Let's admit it: We are all obsessed with our pets, and that doesn't change in a recessionary environment. People are willing to spend good money on essential services like grooming, pet sitting, and dog walking. And check it out: the pet-care industry grows by almost 12% every year.

Why they are inexpensive to start: The initial costs are low. Grooming tools, pet care supplies, and transportation are the basics. You can market your services through local pet stores, veterinarians, social media, and community boards.

Businesses come in all shapes and sizes. But often, the best ones are the simple ones. Why? They are less risky. Picking an affordable, recession-proof business can be the smart way to go if you dream of starting your own company.

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