Are we in a recession? It looks like we are [ Music ]. The signs are obvious supply chain disruptions from the pandemic, sanctions against russian oil, that’s driving up russian oil and gas prices, and both of those issues are driving up inflation. Interest rates have also increased in both the u.s and jamaica, and people are struggling to make their loan payments. These are all indicators that a recession is either here or on the horizon.
However, there are some conflicting things happening, for example, the low unemployment rate. That’S in both jamaica and the us, which in some instances are at record lows and the fact that consumer spending is up which typically conflicts with what happens in a recession. But here’s the thing my rocks does:
whether we are in a recession or not. As you know, life must go on on this channel. We don’t focus on the problem. We focus on the solution, and that said here are 10 businesses that you can start that will make millions during a recession or during difficult economic times like we’re in right. Now i’ve seen a lot of change been through a lot of pain.
Some things are not the same as they were a year. Welcome back to our channel my youtube family, my rockstars. I am always excited when we’re talking about 10 jobs, 10 websites or 10 – things that you can do to make millions, and today is no different. You can tell that my glad bag is tingling on the verge of bursting.
Now different countries define a recession in different ways, but usually it’s two consecutive quarters of negative gdp and gdp’s gross domestic product in the u.s gdp contracted by 1.6 in the first quarter of 2022, and it is projected to drop by 1.2 in the second quarter. Now, in jamaica, gdp contracted by 1
2 percent, as well in the first quarter of 2022, and we’re yet to see what’s gon na happen in the second quarter of 2022.Now. That said, my youtube family, whether we’re in a recession or not times, are difficult, as i said in another youtube video that the chicken the bag of chicken that we typically buy for about nine thousand dollars was selling for close to fifteen thousand dollars.
By now it should be about sixteen thousand dollars, which is a huge increase, so with that level of inflation and interest rates rising, we are bound to be concerned, but we’re not here to focus on the problem. So, let’s dive into the solution, the first of the 10 businesses that you can start in difficult economic times or during a recession is one that you’re going to completely underestimate.
But hear me out and understand that this business has the potential to make you a multi-millionaire. It is simply buying and selling candy, yes sweetie. Now i’m sure you know by now that at some point in my life i was selling lollipops and the margin on the lollipop wasn’t high, but the volume made up for the margin and i made a tidy profit during that time.
You see the key. My youtube family is to find the candy from a manufacturer or a distributor at a low cost, and then you build up a distribution stream around it. Now, let me show you a recent investment in some candy, so i went on amazon and you guys know kisses right, they’re, very popular, it’s a nice chocolate snack as a candy and as such, it’s something that you can put in a doctor’s office in a candy Bowl or you can put at your workplace in a candy bowl, it also sells very well where people can buy five at a certain price or even one, and it’s one of those candies that most people love.
I buy a bag of kisses on amazon for 23.99 right now. The price is about 39.50, but i don’t stop until i get it for the original price that i’ve been getting it at for some time now in that bag there are 400 pieces, which means that the cost per piece is 0.069 cents or about nine jamaican dollars.
Now you can easily sell one kiss for about 20 jamaican dollars or you can say five for a hundred dollars that works out to five for eighty cents. U
S dollars the profit per bag, therefore, is 29 u.s dollars. Now, let’s put it into perspective. If i only sell 10 bags of kisses per day, it means that my profit is 290 us dollars per day.
You know what that works out to be per month. 8. 700 us dollars, which is 1.3 million jamaican dollars per month, just from selling bags of kisses. You see how powerful candy is now.
Let’S say you are not as aggressive as me and you can’t move ten bags in a day and you can only move five bags per day now you’re at four thousand three hundred and fifty dollars per month, and for those of you are saying, oh, that i Don’T know that many people who is chewing candy because everybody complaining about them rotten teeth and their diabetes and all the health issues.
Let’S say you can only move one bag of candy per day, you’re still making 870 us dollars per month, which equates to 130 000 jamaican dollars per month. That’S more than many people’s salaries selling kisses.
I’M sure you never thought that selling candy could pay you more than your nine-to-five job. Did you now? Why is candy recession, proof or one of those products that will sell well in difficult economic times? Think about it when things get rough, people come under stress. Humans are prone to seeking pleasure to avoid pain, no matter what the economic conditions are.
Many workers who are operating in a high stress situation will constantly reach into the candy bowl at work and grab a candy every now and then, and because of this candy is really recession. Proof. Now, if you don’t believe me, you know i have to give you the facts. Right, snickers and three musketeers were both introduced during the great depression and during the 2008 recession.
Cadbury, you know cadbury chocolate, their profits went up by 30 percent and nestle went up by 11 during that same time. Listen my rockstars! This is no freak accident. Chocolate sales grew by 12 percent in 2020.
At a time when people were looking for comfort food to deal with what was going on in the pandemic to make the most out of your business when you started, you need to source your candy at the lowest cost. If you can get it from the manufacturer or the distributor even better, but if not, you can search places online where you can get good deals.
What you can then do is find schools with vendors, cafeterias parks, street vendors companies that have these candy jars and sell your products to them. It will be a continuous demand on your product because when they run out and people are already addicted, they have to call you to replenish their supply, and now you have consistency in terms of your sales.
Take it from me my youtube family. That selling candy is an amazing business to start at any time. Quite frankly, now the second business that i would highly recommend during a recession or difficult times is a staffing agency.
Now, during a recession, what you’re gonna find is that companies are looking for ways to cut back one of their highest costs on their profit and loss statement is hiring and retention and if they can find ways to outsource their recruiting their advertising to hire and Actual hiring and training of staff, i know that most companies will take advantage of that in a heartbeat.
Now, there’s a huge opportunity in industries like bpo, where the attrition is anywhere from five to ten percent per month, not per year and in restaurants and hotels, where it’s anywhere from three to about eight percent per month.
As a matter of fact, the other day i drove into kfc, because my son, for some reason i think, there’s something in the oil – that’s keeping him addicted to kfc. But anyway we went there a few times and the drive-through line was closed on a saturday, and i thought that suspect.
So i had to ask when i went inside and they said they just didn’t have enough staff to open it. I went to wendy’s as well courtesy of my son and the manager is always on the floor. Why? Because he doesn’t have enough staff to cover, so he has to come out and get the job done.
So there is a legitimate shortage out there right now of good customer service workers, which to me is one of the easiest functions to hire for and train and prepare for an organization.
Now, if in your business, you develop a model that says you’re gonna offer training to anyone, that’s probably just coming out of high school or people who don’t have the skills or the experience, but they want to work and they pay a minimal cost to get Access to this training with a guarantee that they’ll get a job at the end as long as they pass the final exam or test or whatever your criteria is that determines success.
All you have to do is to go to these companies, whether it’s the bpos, the hotels, the bars everybody that use customer service representatives, the fast food joints and say, okay, i know today that it’s costing you about 500 us dollars or the equivalent to hire well.
First, you have to advertise, then you have to probably host job fairs. Then you have to go through the recruiting process, the hiring process and then to train each person, and instead of that 500, that it’s costing you i’m willing to provide you with trained professionals at 50 of the cost.
What do you think these companies are gon na? Do they’re likely gon na take you up on the offer, and all you have to do is to get a curriculum for customer service. By the way you can google it it’s right there and you tweak it based on the country that you’re operating in make sure it has an emphasis on empathy and sympathy, because that is lacking in many cultures and start churning out graduates.
Now, from your 250 dollars per head that you’re charging the company, it may cost you about a hundred dollars to include things like the rent that you have to pay for the space that you’re training in uh. When you start, you can do it yourself, but you may want to hire somebody to assist you and any utilities.
So let’s assume that from your 250 that you’re charging the companies, that’s a hundred dollars. Remember that the students are also paying money, so that will offset some of your other bills.
Now, if you only get a class size which is usually about 30 persons – and you start training them and each training cycle or curriculum takes a month, you would have made a profit of 6 000 us dollars per month.
Now, as a rock star, i know you’re hungry for success, so you’re not gon na stop there. After you get into the rhythm of things and you’re churning out your six thousand us dollars per month, you’re gon na go and find three trainers to hire to bring them on staff. And now, with your effort, plus those three trainers.
You’Re, making a profit of 24 000 us dollars per month. Now, don’t worry about it. If you don’t have the skills to train, you can hire because remember the students are paying and the companies are paying.
So you actually have two revenue streams and later on, you can actually go to your government and say to them. Listen, i’m solving a need.
So why don’t you offset the cost of the student? So it’s free to them, but you pay me that money and i’ll prepare people for these industries that are suffering because, quite frankly, their talks right now in jamaica, about importing labor from other countries because of what’s a perceived shortage.
I do believe there’s a shortage in some professions, but i think for customer service is just training people and equipping them with the skills and capabilities to be successful.
Now that said, let’s move on to the third business that you can start that is recession-proof and will make you millions in bad economic times, and that’s a delivery service now hear me out, because this is not the typical career service that you’re used to you.
Don’T need a car to do this delivery service, you’re, basically a coordinator! So here’s what you’re gon na do it’s very cheap to go on a platform like a godaddy and buy a domain. I pay about 15 for one of my domains and that’s 15 per year.
Us that is so. When you buy this domain, you can also just watch a video or two on youtube that will teach you how to create a wordpress site very simple website that will solve a need, or you can call a friend who owes you a favor who has these skills?
This website is going to be a place where people in the general public log their delivery orders, so they’re gon na go on and they’re gon na put in their name their contact number what they want to be picked up from where and where they want it Delivered very simple:
this note creates an entry in your website and you then ensure that, depending on how far the person is going or what is involved, you set a particular rate so that when this person plugs that information in on your website, it pops up and Say this is the cost and they’re able to pay right there for the service? Now, that’s it for the customer.
You now in your delivery business will do the rest. You’Re gon na call your bearer, who will probably charge you 10 us dollars or the equivalent for him to pick up my prescription and my money. Go to the pharmacy hand it in pay for the drugs and deliver it back to me at home.
Now, with him charging you ten dollars, your cost on the website can be fifteen dollars, which means you’re, making a profit of five us dollars for that delivery. Now what you would do is get a few bearers on call that you can reach out to whenever these requests come in on your website.
So let’s say you have three to six bearers available at any one point in time, with three bearers working over a 12 hour span. Each of the three can do about two delivery per hour, which equates to six deliveries in total and remember.
You’Re doing this for 12 hours per day, which means that between 8 and 8pm you would have handled 72 deliveries at a profit of 5 per delivery on average, because you know some are going to be higher. Some are going to be low, but at just a measly 5 dollars.
You are making 360 us dollars per day, which equates to 10 800 us dollars per month in profit from your delivery business. If you only do a quarter of that, which means you do 18 deliveries in a day, it’s still 2 700 us dollars per month.
The great thing about a delivery business is there’s, always a need. Somebody will need pharmaceutical or food or something that they need access to, and it’s not convenient for them to go and fetch it themselves. You can also do neighborhood delivery.
So if you have a large enough community, you can let the people there know that you are providing this service and they can reach out to you either on your website or you can just give them your whatsapp number.
If you want to start small and they can whatsapp you with the details, the great thing about creating a simple wordpress website that will cost you less than 20 us dollars per year. Is that now you can maximize on your potential because you can do so with no geographic limitations.
Someone in montego bay, for example, can upload a delivery, a delivery, that’s hard to say, a delivery delivery. You get the disguise a request on your website and you’ll just coordinate with beerus in montego bay. As a matter of fact, somebody in miami can upload a delivery request and you have bearers there that you can coordinate with and they’re delivering to them.
There are no geographic limitations when you have a website now. Why does a delivery business do well during a recession or when things are difficult, because people are constantly looking to reduce costs if they don’t have to go on the road and incur cost related to petrol or even the time they’re going to avoid it and a Bearer or a delivery service will solve for that, people will also be losing their jobs in difficult economic conditions, so they’re likely home and don’t want to come out to take on these errands,
so outsource them to you and there you go you’re making millions of dollars Per month with your delivery business now the fourth business that you can start, that is recession, proof and will work in difficult economic times is one that’s pretty talked about, but i’m gon na put a different spin on it and that’s buying and selling products online.
Now, when you think about reselling products online, you think immediately about new products, but there’s a huge market out there for pre-owned products and i’ll share more on that later on now, as it pertains to buying online, there are platforms like an alibaba and i’m gon na. Do a separate video, that’s gon na teach you how to maximize platforms like alibaba to make millions.
It’S basically the secret that a lot of these people who make their millions from retail. Don’T want you to know. But anyway, you can buy products on alibaba and you can then sell them on e-commerce platforms like our own gofer, amazon or shopify, or even ebay.
Now, as it pertains to selling pre-owned item start looking around your house, there are things around you that you can sell and make some money that you’re actually not using during the 2008 recession in the u.s. Did you know that second hand stores saw an increase in their sales of 35 yep? Don’T underestimate the power of your used items to make money? The great thing about buying and selling products on an e-commerce platform during a recession is that people are looking for deals because disposable income is limited and when you’re looking for deals, what’s the best way to do so to sit at home and go from one website To the other, instead of driving from one store to the other, the other benefit of buying and selling.
Why it’s recession, proof is that the items are delivered so persons don’t have to go out and spend money on petrol or get into the mall and end up.
Having to eat a snack, for example, because they’re walking through the food court – and they just can’t resist with that order being delivered to people’s home, there is less temptation.
The thing about a recession or difficult economic times is that people will actually indulge in retail therapy and you have to capitalize on it by buying and selling products on the major platforms out there.
The great thing about an e-commerce platform like a gopher is the fact that you will not only be able to sell your products on the actual website, but we have our gopher gallery, which is our store which, as long as your products are on the website, they Can be sold from the store as well for those people who don’t want to shop online.
Now here are some recession-proof products that i would recommend that you sell, that will maximize your income and your earning potential.
The first is customer staples things like detergent, toothpaste, napkins and toilet paper will always be in demand, no matter how difficult times get you cannot go to that toilet and do a number two and not use something to take care of it.
Even if you can’t afford it – and i have to give you guys the joke, because growing up poor, we couldn’t afford toilet paper most of the time. So we had to wet newspaper which we used a lot and when that wasn’t available, you know banana leaf when the banana leaf dries and it becomes trashy, we would wet that and then use it as toilet paper.
Believe me i’m coming from far, but the thing is these are products that are always in demand, and i apologize if that was tmi.
But you guys know queen of sharing and over sharing the next recession-proof product that you can buy and sell. Is automotive parts people have to go to work, they have to go to the supermarket and they have to drop their children to school, so their cars are gon na, be broken down or are gon na need servicing and if you supply parts, there’s always gon na.
Be a demand things like pet care products and baby products. You can’t not feed your baby and most people aren’t washing cloth, diapers or nappies.
These days, you’re gon na buy diapers you’re gon na buy baby food and you’re not gon na allow your pet to starve to death. So these are all amazing products that you can buy and sell that will sell, despite economic conditions being negative.
Now the fifth business is one: that’s booming these days because, as you know, with social media, many of us are a little bit more vain or a little bit more conscious and are so much more invested in self-care.
It’S like nothing, i’ve ever seen and this business that you can start that is recession-proof is an online beauty. Business, [, Music, ], listen, my youtube family. The desire to look fabulous does not go away when the economy, tanks, absolutely not.
They have to look fabulous around the clock, however, instead of things like extreme makeovers or expensive, haircuts or spa appointments and changing your whole wardrobe people are typically looking for cheaper options during difficult economic times, so launching a beauty business now because of how conscious people are About their appearance is critical timing, quite frankly, whether we’re in a recession or not your business can center around nails, things that are used to take care of nails. Nail polish and things like that.
Skin care, body care and anything related to makeup will likely sell again buy low, find it from the manufacturers or the distributors and sell high if you can get products from local manufacturers. For example, there’s this black, castor oil that i use around my edges and as long as i use it, my edges remain healthy.
That product i would buy from anyone who is selling it. If you can figure out who locally is manufacturing it, you pop it up on your platform and you start advertising it on social media, and i will be one of your first customers now.
The sixth recession-proof business that you can start is corporate cleaning services [ Music ]. Now, during the pandemic, there was an increased demand on cleaning for physical and public spaces.
Now, with monkey pox on the rise – and of course we don’t have enough information yet, but with the new virus that just came out of china, which is called, and i’m sure, i’m gon na mispronounce this the lagna virus, the need for cleaning services, i believe, will Continue now, there’s not a lot of evidence yet to suggest that the lagna virus is as contagious as what happened with the previous pandemic, but you never know.
Quite frankly, i think there’s probably going to be a new virus every single year. That’S coming on stream! So cleaning services will be forever in demand. What you have to do is to establish a company, get a few persons on board and ensure that your niche is public spaces such as grocery stores, hotels, banks, businesses, hospitals or offices, where the need for cleaning services is extremely high.
This business does well in a recession because again in a similar way where companies are trying to cut back on their expenses instead of using their own cleaning stuff internally, by outsourcing it to experts, since it’s not their core business, they’re likely able to save a few Dollars now, the seventh business that you can start in a difficult economy or during a recession, is online teaching or tutoring, and this is not related to language. This is in general. Now, during the pandemic, most people were actually confined to their homes and after the pandemic, a lot of people have opted not to go back to work for a number of different reasons.
I’M sure by now my youtube family. You have heard about the great resignation or the big quit or the great reshuffle whatever you want to call it it’s. Basically, this ongoing economic trend in most western countries where people are voluntarily resigning from their jobs in large numbers, and this started in early 2021..
Now the reasons for this, it’s varied, whether it’s that they’re not making enough for the effort that they’re putting in and suffering from wage stagnation amid the rising cost of living or the fact that they’re not satisfied in their job or even concerns around safety.
Related to the pandemic, whatever the reasons are, people are opting to not go back to work. What this means is that services such as teaching and tutoring people want to have access to it from the comfort of their home so that they don’t have to venture out.
So listen if you have a zoom account which is pretty inexpensive. If you have an engaging personality or listen. Even if you have mediocre charisma and you have the discipline and commitment to create and execute a lesson plan, you are able to teach online, you can teach anything from fitness classes, to makeup, tutorials, to writing, workshops to cooking chemistry, mathematics or anything that you are good At that, you believe people will want to learn just come up with a rate that you want to charge.
That is cheaper than most people are charging online and start your recession, prove business teaching and tutoring people.
Now, the eighth business that you can start during difficult times, that is relatively recession, proof is freelancing and working as either a writer for companies or even a virtual assistant, now freelancing in itself. It has the potential to be one of the most recession-proof businesses across the globe.
Companies are able to save a ton of money by just outsourcing a few of their tasks that are not their core business to freelancers. This is how bpo was created when companies outsource to you and your freelancing business they’re able to save money, because when it’s not your core business or your area of expertise, it’s usually inefficient. But when you outsource it to somebody who this is what they’re doing all day, they’re usually able to do so at a lower cost, because their processes are more efficient.
Going back to the example, i shared in this video here about jobs that can make you 50. 000, us dollars or more without a degree, a social media manager if you during a recession, are operating a company and you’re trying to get your social media posting done.
That’S an easy skill set to outsource to a freelancer or a virtual assistant who can take over those processes charge you a certain amount at the end of the month, which is less than what it would cost you to do so internally that social media manager can Charge less because you’re, not the only company that they’re servicing they’re, probably doing this for 20 companies or 10
The reason why freelancing is so recession proof is because it’s usually a way for large companies or even small companies to save money.
There are a lot of youtubers out there who use virtual assistants to do things like edit, their videos create their thumbnails and so on.
So it’s really a lucrative business that you can start and you can start yourself and charge a certain rate by providing these services and as you grow, you can hire persons on board and soon you have a full-fledged company, that’s generating millions in profits per year.
Now, following up on what i just talked about, the ninth business, that you can start, that is recession, proof is to start a content creation business. Now that’s either you creating a youtube channel, we’re like me, you’re, sharing content and, as i shared in a previous video, you do not need millions of views on youtube to make decent money.
You just need the right type of content in a niche that pays a decent cpm or a cost per thousand views. Education figure out, something you can teach people and for a thousand views you’ll make anywhere from five to eight dollars.
So that said, with a youtube channel, with ten thousand views you’re making about two thousand four hundred us dollars per month. Now you can also create content for other social media platforms and, while some of them don’t have the kind of monetization program that a youtube has and as such you make money.
When people come to you and say: listen. I have this product that i want you to pop up on your instagram page, or i have this particular business place that i want you to advertise.
The way you make money is different, but nevertheless it’s still money that you can make. Also, when you start a content creation business, there are many spin-offs soon you can start selling courses and lessons you can start selling merchandising.
You can start crowdfunding platforms using them to engage your audience like a patreon or, what’s that other one called kickstarter, and soon from that one content: creation idea: it’s now a full-fledged business, with multiple streams of income coming in the reason why content creation works well in A recession is people’s desire to be entertained.
They want to do so at little to no cost content is free on youtube. People might cut off their netflix or their hulu subscription and tune into youtube that way. They’Re saving more money when things are difficult.
People are also not going out to parties as much, nor are they going out to dine so by staying home more they consume more content, and, as such, you are able to capitalize on that now, the tenth and final business that i know for a fact will Do very well – and that is recession proof is the health care and senior services, business, now health care and other services for seniors. It’S projected that it will grow by 24 by 2024.
Now. This is an area of service that is already expanding rapidly over the last few decades, and this is likely because there are more people from the boomer generation that are getting to retirement age and they need to be cared for, regardless of how difficult times are and How bad the recession is seniors will need to be taken care of for those who don’t live in a senior care home.
They may have to hire a caregiver with a part-time or full-time, and that’s where you come in. You can start a business where you’re providing care if you’re, not a full-fledged nurse, you can probably be a practical nurse to start, and then you can hire additional staff as your business grows.
As a matter of fact, you can even start at home if you have an extra bedroom or two at home, because your children have gone on to university or have started their family and left you bring in one or two persons who are senior citizens to live With you and let their family pay for you to take care of them, and soon you may be starting with two in your home and later on, have an entire business where you’re generating millions of dollars in profit per year.
Now this has been another long video, but i hope you found value in it. If you did please remember to like, because that is how i know that you learned something new or something that i said actually made sense, and i appreciate those who have stayed until this time and i’m gon na ask you to do me a favor as usual.
I would like you to write in the comments for me: solutions, comma, not problems. You know where that is coming from right. The fact that, regardless of what is happening in the economy on this channel, we’re not gon na sweat the difficulties, we’re not gon na pay attention to the challenges, we’re gon na focus on solving them and continuing to rise.
Despite what everybody else is doing, that’s the only way to achieve your big aspirations, thanks as always for watching and if you’re, not yet a part of our rockstars family. I encourage you to hit the subscribe button. My youtube family, all the best and until next time, walk good [, Music, ]
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