The best business opportunities of 2009 are basically the tried and true as troubled economic times cause consumers to be more cautious about what they buy and less optimistic about the economy in general. Small businesses selling necessities will do well; those selling what consumers consider to be "frills" will not, unless they can tap into sufficiently well-heeled niches.
And what do people consider to be necessary in lean times? See if any of these picks for the best business opportunities of 2009 surprise you. (Note that these business opportunities are presented in no particular order.)
The Best Business Opportunities of 2009
1) Fast food franchises
Fast food is such a integral part of many people's diets that they will continue purchasing it no matter what. Others who usually don't buy it will turn to fast food as a kind of comfort food in uncertain times. Old established fast food chains especially will profit from this kind of food nostalgia. Pick the right fast food franchise in the right place and this business opportunity could be a real money-maker.
2) Repair businesses
One obvious way that people save money is to make do rather than buying new, which makes businesses specializing in repairs excellent business opportunities. Auto repair and shoe repair are two examples of repair businesses that I speak of in Best Small Business Ideas for Tough Times. But they're certainly not the only possibilities. What about furniture refinishing, furniture reupholstering and sewing and mending?
3) Collection agencies
When times get tough, more people have a tough time paying what they owe. Businesses hire collection agencies to help them get the money that's owed them. If you don't have any experience in collection yourself, the best way to get in on this best business opportunity is to hire experienced collectors to work in your agency. (Note that in Canada, all collection agencies have to be licensed and bonded according to legislation.)
4) Medical supplies
With our aging demographic, medical equipment and supplies are necessities for growing numbers of people, making providing medical supplies one of the best business opportunities around. Besides products that provide increased mobility such as scooters, wheelchairs, and walkers, bathroom safety products such as special toilet seats and bath lifts will be in increased demand.
5) Motivational speakers
What do people need more than anything else in tough times? Hope. That's what the best motivational speakers provide and that's why they’re going to be in demand in 2009. The most popular speaking topics will be those that speak to people's concerns and offer them possible solutions such as getting more out of less. People who have personally overcome adversity will also be popular speakers.
There are five more of the best business opportunities for 2009 on the next page. Click to continue reading...
