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A Screaming Need that screams louder in a tough economy

RichRich administrator Posts: 582 Site Admin
edited March 2008 in Selecting a Business
I`m writing another column for Fortune Small Business and CNNMoney.com about how to thrive in a recession. For reference, here`s a link to the first article: http://money.cnn.com/2008/03/03/smbusin ... 2008030318
 
Now I am writing a piece on opportunities that are particularly hot in a down economy. Do you have any ideas? Know any companies that are thriving right now?
 
Rich
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    RichRich administrator Posts: 582 Site Admin
    i like that strategy, craig. diversify.
     
    but i`m looking for a specific screaming need on the consumer/customer end of things that`s greater when the economy is down.
     
    can you or other SUNsters help me come up with ideas/examples?
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    JamesDJamesD subscriber Posts: 0
    Discount box stores like Costco, Sam`s, BJ`s, etc. do well during down markets as people know they save money by buying larger quantities.  If you are willing to buy items in big quantities club stores generally have a 12%-14% margin on their products vs. 36%-45% in grocery stores.  Most people feel it`s Ok to buy filet mignon when it costs half the price you`d spend at a grocery store by buying it at a club.
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    jwatkinsjwatkins subscriber Posts: 11 Bronze Level Member
    Pawn shops, consignment stores, thrift stores, check cashing businesses, and online learning (people really start thinking of a better career when the pocketbook suffers).
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    RichardGellerRichardGeller subscriber Posts: 0
    Debt workout, mortgage workout, anything that cuts debt and reduces a consumer`s monthly spend.
    In: do it yourself debt workout, mortgage short sales, mortgage workout.
    Out: "credit counseling".
    --Richard
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    JamesDJamesD subscriber Posts: 0
    Cupcake bakeries seem to be "screaming hot".
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    ayjayayjay subscriber Posts: 7
    Along the lines of pawn shops. . .
     
    Professional life-downsizers. Someone that`s a cross between a credit counselor, pro garage-saler, and pro organizer to help people who are upside-down figure out how to pay off debts, sell excess possessions, and learn how to continue to live below their means. Biggest obstacle is how do broke people pay for the service. I guess I would assume they can charge a flat rate for consultations that could be paid from proceeds from selling one of the big plasma TV.
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    AkemiGainesAkemiGaines subscriber Posts: 0
    I think there is a surge in interest in entrepreneurship because of this slow economy. People are disillusioned with the corporate jobs.  So businesses that help new entrepreneurs -- well, this forum is all about it, isn`t it.  There are also entrepreneur coaches (like myself. . . yes, this is a bit of a self-promotion. . .) and maybe marketing agencies and web designers for small businesses are doing well.
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    Badger82Badger82 subscriber Posts: 0
    Food, drugstores, medical care (especially for the elderly), car and home repair and maintenance - it doesn`t matter what the economy does, people always need this stuff. Find a way to get it to them smarter, quicker, with less fuss and they will use it.
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