Recession-proof businesses may also be determined by where you live. A flourishing real estate market like Charlotte-Gastonia-Concord in North Carolina may do well for home decorators or businesses that cater to young families. In the areas hit hardest by the recession, businesses that cater to job training and self-employment may be more likely to succeed. This is why when someone asks me about good businesses to buy during a recession, I usually respond by asking them to do a thorough analysis of their local market. Sometimes a simple evaluation can generate the best ideas.
Another way to identify good businesses to buy during a recession is by reading up on the latest buying trends in magazines like Consumer Reports and finding out if the hottest products and services are available in your area. Are less people dining out at sit-down restaurants and favoring café-style eateries like Panera Bread instead? Are people keeping their old cars longer or doing their own home repairs? All of these trends will point you toward a specific type of business model.
Once you have identified some good businesses to buy during a recession, the next step is to look online at a site like BizSale.com to find existing businesses for sale by industry. Here you will be able to contact business owners directly and learn more about the best opportunities in your area.