It’s no secret that an economic downturn can be hard on small businesses. But what isn’t as widely known is that recessions don’t affect all businesses the same way. In fact, there are some types of businesses that seem to be able to better weather economic troubles and, in some cases, even experience steady growth! Businesses like these tend to fall into a few recession resilient industries, the vast majority of which are linked to home services. In fact, if you are ready to start a business now but need a few ideas, Home Services is one industry you should take a closer look at. More specifically, franchise businesses in the following categories have shown remarkable resilience in a recession, making them the top choice for an increasing number of new business owners.
If you enjoy spending time outdoors, or maybe find the flexibility of many outdoor home services appealing, two of the top business ideas in this category are landscaping and pest control. Both of these outdoor service businesses have experienced strong growth in recent years, driven by increasing demand for more professional, more convenient services. Leading the way in this category are The Grounds Guys and Mosquito Joe, two franchise companies that are rising to meet this demand.
A second category in which to find recession-resilient business ideas centers on cleaning services. There is something so fulfilling about owning a cleaning business, especially because customers tend to be so appreciative. Some of the leading franchises in the cleaning services category include Molly Maid, Window Genie, and Dryer Vent Wizard. While each franchise has a different focus, they offer customers both quality services and peace of mind.
If working with other business owners is something you’d enjoy, then perhaps a franchise business in the business-to-business (B2B) or business enhancement category would be a good fit. As well as demonstrating a proven resilience to recessions, franchises including Real Property Management, Rainbow International Restoration, and HouseMaster are changing the shape of B2B services for the better. More than anything else, business owners need professional, convenient, and high-quality services at a reasonable price. And that is what these businesses aim to deliver.
One reason that franchise businesses in the repair category are so resilient in a down economy is because of the essential services they provide. Home repairs don’t stop just because a recession is going on, which can make choosing to start a business in this category an excellent long-term investment. In fact, repair-centered businesses such as Mr. Electric, Mr. Rooter, Mr. Appliance, and Aire Serv all provide services that home and even business owners will always need. While each of these businesses has a different focus area, they are all guided by a strong company commitment to industry-leading training and support for all franchise owners.
Our last category is maintenance, another strong contender for the most recession-resilient type of businesses. Just like homes and businesses will always need quality repair services, they also need regular and reliable maintenance services. This can often translate into repeat clients, something that can help minimize cash flow fluctuations. Some of the best franchise opportunities in the maintenance category include Five Star Painting, Glass Doctor, Mr. Handyman, Shelf Genie, and Precision Door Service. As you can see, there is enough variety in just the maintenance category that it can make it easier to find the franchise business that is exactly right for you.
Would you like to learn more about how to start your own franchise business with any of these great Neighborly® businesses? Start by downloading our new “Recession Planning Your Future” eBook.