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Top 10 Industries For a Recession: Is Your Industry On The List?

Between major bank failures and mind-boggling bailouts, "recession" has become the most dreaded buzzword in the nation. But as always, whether times are bad or good depends on your point of view. Recession is not necessarily bad for business—in fact, some industries have no problem weathering recession because their services are necessity, not luxury. In fact, some business leaders are downright chipper about the situation. Check out our list of top industries for a recession to see why.

1. Healthcare

No matter what's going on, people still get sick and injured. Some studies have also shown that healthcare needs increase during recession due to the associated stress.

2. Repair services

Computers, cars, jewelry, houses. If it can be fixed, people will choose repairs over buying new replacements to save money.

3. Staffing services

During times of economic uncertainty, companies hedge their bets with temps rather than commit to hiring more long-term employees.

4. Education

Even in economic decline, people want the best education for their children. Supplemental learning centers, tutoring services, and test preparation franchises are all good bets.

5. Senior care

Home care services are growing fast. These typically non-medical services offer an excellent alternative to expensive retirement centers for seniors who are still in good health.

6. Business services

From payroll to PR, companies save money by outsourcing services rather than paying full-time staff.

7. Coupons

This is one business that improves when the economy slips. During these times, coupons are equally attractive to both upper- and lower-income shoppers.

8. Debt settlement

With personal debt at an all-time high, demand in the debt settlement industry is as great as it's ever been.

9. Resale shops

From sporting goods to designer duds, consignment shops offer a win-win scenario for shoppers and sellers alike. Already a $12 billion industry, the resale industry is expected to grow 5% this year while many major retailers take a tumble.

10. Property management

A good property management company can protect the owners' investments during dicey times. It doesn't matter if real estate is selling or not—the only time property management could suffer is if the population lowers.

Follow the System

While these franchisees might think they are helping the brand, in fact it’s just the opposite.

Franchise Buyers Don’t Need a Lawyer – Yeah Right!

These excuses are usually first heard when I meet with a franchise owner who is now asking for advice regarding their dissatisfaction with their franchise relationship. Too late. That is, sometimes it is too late to help them.

7 Options for Financing When Buying a Franchise

The primary difference between equity financing and debt financing is that with debt financing, you will have an obligation to pay back the borrowed sum at a stated interest rate, but you will retain control of the business; in equity financing you are giving up a part of the business to an investor or investors in exchange for their financing. The investors may claim some control of the business operations; they will also have some ownership in the assets and potentially will take a share in the earnings. You will not have a set debt obligation to repay as you would with a monthly loan payment to a bank. The investor will be taking a risk as to when and how much of the investment he or she will recoup, as well as whether there will be a return on the investment.