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2009
5 potentially successful business ideas during the financial crisis
Businessmen all other the world are in deep depression – it’s hard to find business niche that was not effected by current economic crisis. Nearly all companies in USA and Europe are facing financial loses, recession in sales etc. But there are still some opportunities to earn even in such hard times. Here are 5 business ideas to improve your budget!
1. Spam
Spam sales are booming as the economic crisis leaves consumers strapped for cash. Interestingly enough, spam, the “crazy tasty” mix of ham, pork, sugar, salt, potato starch and a sodium nitrite, was invented during the Great Depression and became a staple for Allied troops overseas in the 1940s.
2. Psychics
“There is no rhyme or reason to the way the market is trading,” says a personal trader. “When conditions are this volatile, consulting a psychic can be as good a strategy as any other.” Psychics, astrologers, palm readers and “professional advice-givers” say Business is booming as clients come to them seeking financial guidance. Clients will typically pay $75 to $1000 for an hour’s worth of insight!
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3. Used Car sales
The used car Business is flourishing! Specifically, used car companies that offer buy-here/pay-here financing for lower credit individuals who have been locked out of traditional lending.
4. Lipstick & Hosiery sales
The Lipstick Indicator is an economic theory proposed by Leonard Lauder, the chairman of Estée Lauder Companies. The theory states that a direct relation exists between rising sales in tubes of lipstick and a falling financial market – the worse the economy, the more women indulge in small purchases, like $10 tubes of lipstick. There are conflicting reports as to whether Lauder’s theory is holding up this downturn. Perhaps hosiery sales will supplant lipstick as the indicator of choice. Overall hosiery sales rose 2.3% this year, with Spanx seeing a 77% increase in sales compared to last year.
5. Budget food & beverages
If you were thinking about opening a budget canteen with special day offers and cheap lunch sets – now it’s time to start! People are saving every penny and are more and more attracted by all kind of „anti-crisis menus”.
