7 Industries That Are Still Making Money in a Recession

[Jillian Slack]

This is great info to know, especially if you work with local offline clients in these industries, or possibly your web sites/niche blogs are in these industries.



7-Industries-That-Are-Still-Making-Money-in-a-Recession: Personal Finance News from Yahoo! Finance

7 Industries That Are Still Making Money in a Recession


With shopping no longer their favorite pastime, Americans appear to be spending their money in other ways, such as acquiring new skills, getting help with their finances and visiting the dentist.


This change in spending behavior is helping trade schools, accounting firms and even your neighborhood dentist survive the economic downturn better than other businesses, according to an industry report.


"Our data show that companies selling non-discretionary products and services, things that people really need, are doing pretty well," said Brian Hamilton, CEO of Sageworks Inc., a Raleigh, N.C.-based company that analyzes weekly financial data such as sales, balance sheets and income statements for privately held companies across 1,600 industries.


Hamilton said seven industries are clearly benefiting from a pickup in sales over the past 12 months.

Auto Repairs, Home Repairs


April's retail sales numbers showed consumers are still shunning big-ticket purchases. So instead of buying new cars or upgrading to bigger homes, they are spending money on maintaining what they already own.


Auto repair shop sales grew 2.4% over the last 12 months while car dealership sales declined by 9.7%, according to Sageworks.


As more people remodel and fix their homes instead of moving, revenue for electricians, plumbing and heating contractors has grown 4.6% in the last 12 months while home builders' sales declined by more than 5%.

Supermarkets


Many consumers are looking to save money by eating at home more than eating out. This trend has favored grocery stores, resulting in a 6.7% sales increase for supermarkets in the last 12 months.


By comparison, Sageworks' data showed family-style restaurants logged a slower 3.9% sales increase.

Trade Schools


With an average of 600,000 Americans losing their jobs every month, many are going back to school to learn new skills and improve their chances of rejoining the workforce when the economy rebounds.


Revenue at trade and technical schools has grown by 9.1% in the last 12 months, a faster pace than the 5.9% growth in 2007.

Dentists' Delight


Hamilton said health care has been one of the most recession-resistant sectors, since people regard it as a necessity.


Sageworks' data showed the average dentists' office logged sales growth of 6.9% in the last 12 months, up from 4.9% in 2007.

Looking Good


Personal care extends to looking good through the recession. While Americans may be making concessions on high-end services, they are still getting regular haircuts and manicures.


Hair salons, barber shops, nail salons and spas logged sales growth of 4.5% in the last 12 months, according to Sageworks.

Help With Finances


Many consumers aren't shying away from paying for financial advice to help them make it through the recession.


Sageworks' data showed that the accounting industry ranked among the top 10 industries in terms of revenue growth, with a 10.2% gain in the past 12 months.


"These patterns show that the recession has been lopsided," said Hamilton. "Although the economy has slumped, we're not getting a decline across all industries. Very specific industries like real estate are creating a big drag on the broader economy."

[Ron Killian]

Nice list and a great reminder when trying to figure out what to promote or sell

[BillOliver]

Actually, I think it's the reverse.
I find that I get copywriting projects MORE from the industries in touble:
Real Estate, Finance, Health, Automobile ....

[Jillian Slack]

Both sides of the coin need our services.

Perhaps the businesses who are not on this list need us even more, since the ones on the list are faring a bit better these days.

[Jeff Henshaw]

There only seemed to be 6, not 7 in the OP post - but I could have missed something.

Pawn broking is a big one now in the UK.

Companies that specialise in liquidation & receivership must be having a ball too!

Jeff.

[johnmags]

Thanks Jillian, this is helpful in finding another niche to work on.

[BeyondThePen]

A big one right now in the States at least is the gun industry - they are doing business hand over fist since the Presidential election. Now, how you may want to translate that into online biz is another issue...

[InternetMarketingIQ]

Are people still consuming alcohol? :P

[charlesburke]

Jeff,

I believe there are 7. Home repairs and auto repairs are lumped together in the list, but they're definitely two separate (and very large ) fields.

Cheers, Charles

[Ryce]

Originally Posted by Jeff Henshaw

There only seemed to be 6, not 7 in the OP post - but I could have missed something.

Pawn broking is a big one now in the UK.

Companies that specialise in liquidation & receivership must be having a ball too!

Jeff.

Auto Repairs, Home Repairs probably count as 2 diferent ones

[ProEFI]

Thanks for the list!

Andrew

[amgray]

Thanks for the list. It definitely helps with honing in on the right niche.

[John Blaisdale]

I think that the markets which I am in, health and weight loss, are also great markets to be in at anytime. There will always be people trying to lose weight and there will always be people looking for health related content.

[Ryce]

Originally Posted by John Blaisdale

I think that the markets which I am in, health and weight loss, are also great markets to be in at anytime. There will always be people trying to lose weight and there will always be people looking for health related content.

guess ot is covered by the article as Looking Good....

[Robin L.]

Thanks for the information. This will definately help me out. I am glad I joined this forum!

[Robin L.]

And... I am amazed at how everyone in this line of work is not cut-throat! Everyone helping each other out, that is wonderful!

[vishyboy]

Mobile industry is also still making money

[tommen]

People need to eat, so the food industry is always going to do well.

[TelegramSam]

There are a lot more than 7.

The other MOST important thing is that it doesn't usually depend on what niche you are in to make money. It depends on what you DO.

For example, the airline industry.

British Airways have just announced a large loss.

Virgin Airways have just announced a large profit.

So don't be a sheep and think that everyone in a certain niche or industry suffers the same fate as everyone else in it.

What you DO in your own niche and business counts far more than what any recession can cause.

Trust me on that.

[Robin L.]

Can anyone lead me to how to become an IM for these places?

[WilliamM]

One of my most profitable websites is in the international travel industry. I figured that with the recession and swine flu, I could expect things to slow. It has actually been the opposite. Traffic is up. Sales are up. Profit is up.

[Jillian Slack]

One of the online businesses that I'm involved in is the resume writing industry.

It's going strong!

With all of the layoffs and companies shutting down, the first thing people do is update their resume.

[capone2009]

thanks for sharing, looked for that long time

[Bruce NewMedia]

Re-building personal and business credit is very strong as a niche.

Bankruptcy is strong.

Security is strong.

Business opportunity is strong.
_____
Bruce

[Dean Wh]

It's cheaper to buy a Big Mac meal than it is to feed yourself a normal home cooked meal

[JaySabree]

Thanks for the post...

[joelraitt]

How about helping with resumes and preparing for job interviews? Or starting your own income stream?

[Star Riley]

I'm wondering how you got a copy of my adsense website list?

Very good list and worth digging into and monetizing.

[Tony Dean]

One thing not mentioned is the removals industry, people are moving to downsize and pay less rent.

[AfteraDream]

Best niches are those that are causing most emotions to people, if there is emotional need to do/get something than it's a good niche.... and it will always be popular..

[Ewan Cormack]

There's a massive number of markets that do well in recessions because of people downgrading. I'd be prepared to bet cheap wine is selling like hot cakes - no one wants to stop drinking, but they don't feel like they can pay as much.

Condom sales have gone up as well - looks like people are finding cheap ways of entertaining themselves

[MichaelHiles]

Originally Posted by BeyondThePen

A big one right now in the States at least is the gun industry - they are doing business hand over fist since the Presidential election. Now, how you may want to translate that into online biz is another issue...

What a great niche to be in...

[rbussey]

Thanks for taking the time to post. Good list for coming up with ideas.

All the best of success,
Ronnie