Business Trends

While there is no surefire formula for starting a business that thrives in a recession; there are still some industries that do better than others.  Entrepreneurs are always looking for the best way to remain competitive in a bear market, so they spend a lot of time studying the most profitable businesses to buy during a recession.  Overall, research has shown that companies who offer necessary products and services at competitive prices will do well in difficult times.

Trends in retailing are in a constant state of flux, but nowhere are these changes more evident than with convenient stores for sale.  Catering to the younger generation of customers between the ages of 16 and 30 years old can be very tricky for traditional retailers, and this audience is most certainly a “moving target”.  But the “millennial” generation is also the largest audience for convenience stores.

Convenience store businesses can be very lucrative, especially if they are in the right location.  That’s why it is so important to conduct exhaustive research before buying one. 

It seems like every entrepreneur in the world is asking the same question: What are some good businesses to buy during a recession?  While there is no easy, clear-cut answer to this question, there are certainly some industries that have been less affected by the economy than others.  I like to think of it as “necessity vs. luxury”.  For example, a business that sells luxury watches may have been more seriously affected by the economy than a business that sells essentials like groceries or gasoline. 

As an entrepreneur and business consultant who has bought and sold many businesses, I am always surprised by how many people ask me how to find a liquor store for sale.  One would think that despite the potential sales volume, state regulations would be too much of a hassle to buy a liquor store, but that must not be the case.  Historically speaking, any time I’ve seen a “liquor store for sale” it hasn’t remained on the market for long. 

Over the past 18 months, a grueling recession and record-setting unemployment have caused millions of Americans to rethink their career paths.  Gone are the days when one can expect to stay at the same company for an entire career.  Job security seems to be a thing of the past, and even retirement seems far out of reach.  Worse yet, as the size of the workforce dwindles, employers are expecting more from those who remain employed.  Frustrated and angry American workers are beginning to wonder if remaining an “employee” is really worth the sacrifice. 

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