There have been many world events that have led economic experts to believe a recession may come soon, such as the COVID-19 pandemic, the Ukraine war, and so on. These world events have also caused inflation to soar and stock markets to plummet! As such, you may be thinking about what recession-proof businesses you can start to continue receiving income during uncertain times.
From laundromats with wascomat parts to online jobs, check out what recession-proof jobs you can go into:
- Online Reselling
Online reselling of clothes, gadgets, and even laundry parts is a common way to gain revenue during economic turndowns. Fortunately, the Internet has made it much easier to get into this business.
With platforms like eBay, you can resell items online and then ship your items to customers. You don’t even need capital to start this business, because you can first sell what you have at home that you don’t need. Pre-owned clothes, equipment, or furniture are good items to sell, which can give you the capital to start buying and selling other items.
This is a booming business, too! For instance, about 33 million consumers have bought pre-owned clothes in 2020. We can expect this number to grow and expand to different products.
- Cleaning Services
Because of the COVID-19 pandemic, cleaning services will always be in high demand. Both residential and commercial areas will need cleaners to sanitize and disinfect their premises. If you have the equipment and skills, you can start your own cleaning business.
This might be daunting, but you can first start small, offering personal cleaning services to your family, friends, or neighbors. You can also advertise to small businesses, and word-of-mouth will help you grow.
Speaking of cleaning services, you can also consider offering wash-fold-dry services if you have a washing machine and dryer. Put your equipment to good use and make a profit out of it for those who have no time to clean their clothes or linens.
- Online Teaching
The e-learning industry is predicted to grow to a whopping $840.11 billion by 2030, with many parents opting to hire teachers to tutor or homeschool their little ones.
You aren’t limited to teaching and tutoring academic-related topics. You may also teach anything online as long as you have the skills for it. This includes offering online lessons on yoga, dancing, photography, and other marketable skills.
Some people may rent a studio to hold group classes or visit students for private lessons. But you can also take advantage of the Internet to host online classes or post your lessons. There are many platforms like Teachable where you can offer your services.
Besides online teaching, there are other freelancing jobs you can do to market your skills. Freelancing is a great venture, where there is a high demand for virtual assistants, writers, video editors, and the like. As long as you have a laptop, stable Internet, and the right skills, you can make a profit!
Wrapping It Up
Consider any of these recession-proof businesses for extra profit!