Our economy hasn’t recovered from the meltdown of 2012 yet as we see business going out of business and people losing their jobs. Its an unpredictable economy so many people are on the edge of their seats to see if they will make it financially to the next year or not. Some people live check to check and some haven’t had a raise in over 5 years. What are they to do? Well their are some industries than seem to be okay no matter what the economical climate is in. They are as follows:
1.The Alcohol Beverage Industry – No matter if it a retail store, distributor or the supplier in this industry they have brands which meet the price point of the economy at that time. This business is what we call an adjustable business to the climate of the economy. Rather it be a $5 bottle of Vodka or a $45 bottle of cognac, there is an item in your category which is available to you. In business we call this trading down, which means that the customer wants to spend less money for an item in the same brand category, it may not be the same quality but everyone doesn’t look for quality some look for bargain and the effect.
2. Movie Theatre Industry – Today movies can cost $12 a ticket of a matennae for $5 a ticket either way it will be affordable to a bad economy because they will be able to adjust accordingly with out going out of business. The concession stand can adjust prices and regroup on the items the are purchasing. People love to go to movies no matter what.
3. Death Services – No matter what the economy looks like we cant stop death which means there will always be work in the Funeral business. For those that do have life insurance that will pay for your burial etc, for those that dont the funeral will work with the family usually. This business is a definitely not changing because of the economy.
4. Tax Services – Taxes are something that will always be here rather it be property tax, income tax, state tax, federal tax, local tax or sales tax. A tax professional or CPA will always be necessary to be hired for their expertise. The IRS are alway probing individual about taxes no matter what field of work your in. That alone is a significant reason why tax professional seem to be okay during these rough time when the economy hits a recession.