Tough economic times are hard times indeed for some small businesses, but others will do just fine. As advertised, here are five more small business ideas for businesses that stand a better chance than others of flourishing in tough times.
6) Senior care services
Demographics rule when it comes to small business ideas that have the potential to become successful small businesses, and the demographics say that no matter what the economy is doing, there are going to be increasing numbers of seniors that need care. Business opportunities in senior care range from opening your own senior care home through providing in-home care or home services such as preparing meals, housekeeping or running errands. Senior care franchises are another option for putting this small business idea into action.
7) Used book stores
This small business idea is another permutation of the eschew-new-go-used theme. Just as with videos, cars and shoes, masses of people will be changing their buying habits and looking to buy used books rather than new ones. If you can build an inventory of popular works and keep it turning over regularly, this could be a good small business to be in.
8) Yard services
Rain or shine, good times or bad, there is a certain percentage of the population that will still prefer to pay to have their lawn cut and/or their snow shoveled than do it themselves. So small businesses providing basic yard services will continue to do fine, particularly those located in areas with aging populations.
9) Equipment rental
Equipment rental is an up and coming business idea for two reasons; more people are going to be trying to do things themselves than hire people to do them and more people are going to prefer to rent things than buy them because of perceived savings (which may or may not exist). The larger, pricier and more infrequently the equipment would be used, the higher the likelihood that people will want to rent it. Power washers, lawn rollers, cats, compressors and chainsaws are just a few examples of rentable equipment.
So there are ten small business ideas for small businesses that you can start or invest in tough economic times that will have a better than average chance to prosper or at least stay profitable. The usual rules apply though; it's the right business in the right place at the right time that makes the money. You always need to do your homework; writing a business plan is a good (and safe) way to find out if your small business idea is worth the investment.