8 Lucrative Businesses to Start During the 2023 Recession
8 Lucrative Businesses to Start During the 2023 Recession
It was once said, you cannot become financially free working for someone else as you'll be building someone else's dream while leaving yours to catch dust on the side. So, in this blog you will get to know about 8 lucrative businesses to start during the 2023 recession.
- Web SEO
- Hand-made Goods
- Renovating/Flipping
- Real Estate Photography/Videography
- Trading Assets
- IG Theme Pages
- Meal Prep Company
- Event Planning/Management
1) Web SEO
Website remodeling/SEO on top of domain names company websites constantly need to be remodeled and optimized for users as well as search engines. This is a fundamental part of doing business online and so a lot of website remodelers SEO Consultants are constantly in demand. To get started with this business you will definitely have to understand the basics of web design while also researching the ins and outs of search engine optimization or SEO there are plenty of Awesome videos online and if you wanted to go deeper take some online courses this is going to take a lot of time dedication because SEO is highly important and requires a significantly larger knowledge base.
Once you're comfortable with the fundamentals of optimization start assembling a portfolio of ideas that you want to provide for your clients so let's say for example you guys want to set up an SEO service right so search engine optimization for businesses well absolutely recommend doing is niching down and focusing on specific Industries the last thing you want to do is become an SEO company that you know focuses on all types of companies instead you're going to want to focus on one particular industry and focus on SEO Services only for those types of businesses you might think okay that's gonna you know make it.
It's going to be the exact opposite if you're very specialized with your services then it's guarantee you more and more people are going to be inclined to use you versus someone else that's more General because of course you are specialized why would they not after that offer your SEO services for friends maybe find some small businesses around you or that are online and slowly build up your Client List focus a lot of time and money on your actual delivery because that's what's going to you know make you have returning customers and that's what's going to make them actually refer you to other businesses. SEO is a skill that a lot of people have zero clue about but it's also one that you can learn in a relatively short amount of time overall it's one of the best high value skills anyone can learn.
2) Hand-made Goods
If you're really into do-it-yourself projects and arts and crafts then consider starting a company. By making really great gifts and people always need gifts for birthdays holidays and other special occasions the booming DIY Market is responsible for the enormous growth of businesses like Etsy so making and selling handmade Goods is really an awesome business idea to consider first thing you want to do of course is to figure out what you want to make once you've decided on products to sell list them on websites like Etsy, Amazon handmade create your own Shopify store or any other platforms that you can find online you can also Market your products on social media accounts and reach out to friends family and acquaintances to not only get the ball rolling but to also get some sales to advertise to other potential customers.
If you can find create and sell a really cool and interesting product then you can turn your handmade Goods business into something really big, look at what some of other Etsy sellers are selling and see if you can put your own spin onto it the more handmade customizable and like homemade the better it's going to perform otherwise they would just go on Amazon and buy the mass-produced version of it. This is a really cool business that you guys can start from your own home you can create package and fulfill all the stuff from your home and it does really well this can absolutely grow into an Empire yeah overall a very cool way to get into e-commerce.
3) Renovating/Flipping
Creating a business that renovates and flips certain things the reality is that products including Basic Essentials are getting really expensive Frugal consumers are always looking for good deals online so one great way to make some money and build a business is to renovate and flip items online this could be like home appliances electronic devices tools mirrors bed frames couches whatever.
For example couch flipping has become really popular over the last year but tons of creators like Ryan banana that talk extensively about cash flipping and why it's such a great business to start and yeah the whole concept of this is you want to identify pieces of furniture that you know need some fixing up or refurbishing you'll buy that for furniture for pennies on the dollar make them pretty again and then sell them for a big profit. Honestly if you're looking for some cash flow and you have you know maybe like a truck or something like that then cash flipping or buying furniture like this is a really great way to immediately start making some money you can go on Craigslist or Facebook Marketplace identify things that are really really cheap but can be fixed up buy those things fix them up and then sell them for a lot more.
For example maybe you could find a desk that needs to be repainted buy it for let's say twenty dollars apply some paints make it look a lot better cosmetically and then sell that same table for let's say 150 that's just an example but yeah you can see that you can apply this concept to a lot of pieces of furniture or pretty much anything this is a great way to get started with entrepreneurship build some cash and then take that cash and use it to start up any other business that you want to start really the perfect business for any starting entrepreneur.
4) Real Estate Photography/Videography
The importance of visuals for selling homes for any home that's on the market the impact of having good images and video. More and more people are starting to realize that's why the demand for this type of service is really growing if you're good at photography or you get videography, this is a really great Niche to get into of course there is a pretty big learning curve right taking photos and videos of homes is much different than let's say doing portraits but it is a skill that you can pretty much develop within a few months and the great thing is that you know real estate agents realize just how important these things are so a lot of times they'll have a very big budget.
First get good at shooting homes create your portfolio and then start reaching out to real estate Professionals in your area you'll likely need to start off on the lower end of the market and then slowly and slowly you'll get into the more expensive homes. Once you get into the more expensive listings, you can generally charge between two to a thousand dollars for a good set of photos if you're also got a video you can bundle this with video Services now the potential to make money with this is very very big if you can become one of the best Real Estate photographers or videographers in your area, you can easily make six figures doing this so yeah it's a very high value skill that you guys can do if you are passionate about photography or video it's super great Niche and Industry to get into because this is going to be growing for a long time.
5) Trading Assets
Just trading crypto stocks or any other assets so this is not a typical type of business right it's much different than the other businesses but everyone in the world should have investing as one of their income sources. Investing should be a very active source of income. Day trading or options trading is the best way to go about for most people the best way to invest is just to build long-term wealth by buying assets and holding them for a long time.
You're not stressing about picking particular companies you're not really stressed about the price movements since you're only caring about the future yeah with any money you have that is not being spent on yourself or your business. Putting into Investments is one of the best things you can do so while not a traditional business. It is an income source that most people should have especially if they have money that's just sitting on the sidelines if you guys want to get started there's tons and tons of platforms you guys can use to buy and sell stocks.
For example Webull and MooMoo these are platforms and right now if you guys sign up you guys can actually get a ton of free stocks and just buy index funds that you hold for a long time based on history these always go up in the long term so sort of view as parking your money in an asset that is pretty much guaranteed to grow in the long term this is one of the safest ways to invest your money. This is an income stream that everyone should have especially during a recession when all assets are you know valued quite low buying Now is really a great opportunity and in 20 30 years you're going to think yourself.
You can also checkout the Binance.
6) IG Theme Pages
If you've used Instagram before you'll notice that one of the most common accounts, you'll find on the platform are Instagram theme Pages a lot of these Pages have thousands to hundreds of thousands of followers and having all those followers makes a lot of businesses want to advertise on these pages so to create a theme page the first thing you want to do is think of some things that you are interested in Imagine a topic where you'd be comfortable talking about it or posting about it regularly on your page.
Also you'll want to consider whether the topic is marketable and reaches out to a large enough audience once you've identified a niche or Focus for your page start developing a plan or upload schedule think about types of things you want to post and then start curating different content things that this takes a long time it takes a long time to build any type of audience. But if you guys can grow an Instagram theme page you can actually sell this in the future or you can just sell advertising space on it. This is a very cool way to get into content creation without having to be the face of the channel and yeah a lot of people remain completely Anonymous doing this definitely a cool business that you can start with just your phone and the income possibilities are really endless.
7) Meal Prep Company
Creating some type of small meal prep company, it's an industry that is still growing massively and as more and more people want to get more healthy and more and more people build their businesses and like don't have as much time to spend cooking for themselves. Meal prep is something that so many people are going to start needing so yeah it's pretty much self-explanatory right you are going to start buying food in bulk and then meal prepping in large quantities so that you can sell to people.
A lot of people that do this just from their homes they have a small little side hustle doing this and if you do it correctly you can actually create a pretty good healthy monthly recurring Revenue the margins can be pretty big. If you deliver things yourself for a typical client that let's say orders 15 meals per week you should be able to make between 50 to 100 of profit overall. This is a great business that you guys can start if you guys are good at cooking and it can create immediate cash flow for the clients that you bring in.
8) Event Planning/Management
Event is another broad term that can Encompass things from parties to weddings to conventions and since events will always be hosted by groups of all sizes there's no formal education required for this area of business. Such a cool business that anyone with planning skills should start, first pick a niche that you want to focus on for example let's say you want to get into the wedding industry and you want to help plan weddings there's so many individuals that are very very talented wedding planners.
Look at some of their social media look at some of their websites and see how they run their business things that this is a lot more profitable than a lot of people think if you can create and curate really amazing events you can easily charge thousands of dollars per event that you help organize and throw and the things that events are taking place all the time all across the world.
There's always going to be a demand for event planners and so if you're extremely organized you're good at talking to people and you're good at making events unique and memorable then this can be a very cool business that you guys can start in your local area the profit margins can be extremely high since it is service based and like I said as you get very good at this as you really Niche down you can easily charge hundreds to thousands of dollars per event so yeah very great six to seven figure business opportunity that a lot of people can actually start.
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