6 Lucrative Businesses To Start During The 2023 Recession

Starting a business during a recession might seem like the worst possible idea but that's exactly how everyone else feels too so not only is there less competition for new businesses right now but some sectors can thrive at a time.

1) Bookkeeping

This business should be able to pay anywhere from $19 to $30 per hour or more now a lot of people think that bookkeeping is extremely hard to get into but it's actually not for those of you that might not know bookkeeping is the process of recording the financial transactions of a company so what did the company buy what did the company sell.

So great about this job is that certification is actually not required however to make yourself a more marketable and attractive bookkeeper for smaller businesses a great game plan to follow is to start taking free online courses and then leveraging that knowledge in a formal online certification course.

You guys can start small by posting your work on freelance websites like Fiverr, Upwork showing that you are a talented and reliable bookkeeper the more work you do the more opportunities you'll get from bigger and bigger businesses and yeah eventually you can provide bookkeeping services for multiple clients at the same time now the pay for bookkeepers can actually vary wildly I've seen bookkeepers be paid up to a hundred dollars per hour and just really is based on the experience as well as the demand for your services. the fact is that you can work anywhere you want which is amazing. 

2) Lawn Mowing

With a lawn mowing business you can usually earn 40 to 50 dollars per lawn as a reasonable starting pay however this business has quite a bit of room to grow and you can definitely build your business into a company that can net you way more over time take for instance Brian's lawn maintenance which is a lawn care business started by Brian Fullerton in 2007 that is now both a lawn care business and an online resource for other entrepreneurs they have a website a YouTube channel an Instagram profile and online course that have all amassed hundreds of thousands of followers and users.

The beauty of a lawn mowing business is that the startup cost is cheap and it's relatively easy to get started all you need is some Capital to buy the proper equipment which will include the lawnmower the string trimmer the leaf blower other tools and protective gear don't forget about how you will transport these tools too so you may need to track instead of using your own car or if just doing neighbors you could probably just wheel around your equipment once you have all that sorted you can start reaching out to neighbors and local residents to see if their lawns need trimming they'll schedule for your operations so you can manage several clients at the same time if you really want to get organized you can legalize your lawn care business into a legitimate operation especially when you start are hiring others to help you I personally love this business idea because it's a great idea where you can really get started at any age if you're in middle school or high school this is really a perfect business.

3) E-Commerce

E-Commerce is the purchase and sale of goods online and any e-commerce business has virtually unlimited potential for growth and wealth. Warby Parker for instance is an online retailer of eyewear that started off as a small e-commerce business and now found on the New York Stock Exchange you can think of this type of business as opening an online store.

So here's the game plan that I would take you first need to choose a product to sell to do this you can research the market and find a niche that strikes a balance between being relatively uncompetitive while also targeting a large enough audience make sure to research the cost of supply and also begin to see what other costs there are so that you can calculate your profits then you'll choose an e-commerce platform to sell on there's Shopify there's Amazon FBA really the list is endless with the platforms.

There are so many different types of e-commerce businesses so I know this can be a pretty General broad topic we have the most important thing is that your product is actually a little bit different than other people's products that you're not viewed as a commodity because this is really going to drive down your price as well as your profits instead do something a little bit different funnel things up change something that other people in reviews are saying could be worked on you sort of get my point right like make your product better or different than others.

You'll want to build reviews you'll want to work out your Logistics and most importantly you just want to get started yes the e-commerce business can take some time and money to start growing but it's an online store this is in my opinion way better than a physical location store because you can sell to the entire world yeah super awesome business that you can do from anywhere and I personally know so many really successful e-commerce sellers you can also build a business build equity in it and sell at some point and that can net you a lot of money.

4) Thumbnail Editing

Becoming a thumbnail creator for YouTubers so as a thumbnail Creator you can expect to make between five to let's say a hundred dollars per thumbnail. You can study some of the best thumbnails that are on YouTube see what makes certain thumbnails perform really well and then start building up your own portfolio like many other businesses on this list this can be done fully remotely and the biggest challenge for this is to one get good of course but also to find clients.

You will have to know instantly separate yourself from everyone else that's reaching out and yeah if you can make them a really solid free thumbnail, it's guarantee you they're going to come back because thumbnails are extremely important if you don't want to get started that way you can actually just start going on Fiverr or upwork.

You'll generally probably make a bit less on those platforms but that will allow you to build up a portfolio overall I think this business has so much potential because you know more and more people are getting onto YouTube more and more people are realizing just how important these thumbnails are and so yeah if you can become one of the best thumbnail makers I really do think that this can become a six-figure business.

5) TikTok Agency

TikTok is one of the biggest social media Platforms in the world we've all seen this influence on today's media and culture and yeah consequently more and more people are joining and creating content on there there's a certain style and feel to TikTok videos that can definitely be emulated which is why I think a viable business idea that you can definitely try is to start a TikTok generating agency.

If you watch videos on TikTok you'd recognize that a lot of the high performing videos are fast-paced quick cut style and yeah if you know that then you can easily make great videos for your clients the people that I would actually Target with this type of business is entrepreneurs and people that are trying to start up their personal brand there are so many people that create long-form videos on YouTube.

But they don't have a way to sort of cut those down and post them onto TikTok shorts or Instagram reels so that's basically where you're going to come in right you're basically going to identify people that are already making a lot of long-form content and then reach out to them offering to make them a few free pieces of short form videos Crusher doing that and I guarantee you they are going to come back the great thing is that you can charge note 30 to 100 per TikTok video you make and yeah first you can fulfill this yourself but at some point you can actually hire editors to do this for you.

You can easily find a video editors overseas train them to have a specific editing style for tick tock and then be able to use them to leverage your time this is a super great way to get into the content industry yeah I really think that as more and more entrepreneurs and businesses start building up their social media they'll realize hey we need people that are really good at making these TikTok videos and that's why the demand for this is going to pick up a lot definitely a very interesting business.

6) Domain Trading

Businesses and companies will always need websites for their businesses and every website needs a domain name that is simple and memorable this is where buying and reselling domains can be a profitable business idea for you first think of some niches that you're really familiar with because then you'll have a better understanding of the values of certain domain names over others next you should check the availability of some domain names that you've thought of a great place to check is just going to be like GoDaddy or Namecheap.

They're even going to list prices for pre-existing domain names that are already taken compare the price of your chosen domain name with other similar domains on namebio.com and buy once you feel confident in this domain name and its price afterwards choose a great platform to put your domain name in front of the buyer's market and then wait for a buyer to come in. 

The Big Technical skill here is identifying which names have not yet been taken but have a lot of potential buying them for like five to ten dollars a year and then securing the right buyers another way to do this is you'll buy domains create logos for them and then make some type of website platform selling these brand identities.

For example let's say the domain name thebrownchicken.com is available I'd buy that I'd make some type of logo for it and I'd package that together and sell it to people that want to start a company within that Niche I actually think this is really smart because people are way more likely to buy a domain if they see it packaged with some type of logo and yeah there are some companies out there doing this but if you can do this yourself I think that can be an amazing business idea.