With advances in technology, it’s often tempting to believe that some businesses will inevitably fade away or die out entirely as new technologies make them obsolete. While this may be true of certain industries like printing newspaper businesses, there are still several types of businesses that will always be around no matter how much technology changes and evolves over time. Some business concepts seem to exist in perpetuity and below are some of them. It might be good to know that the businesses mentioned below tend to be recession-proof, industry-agnostic, and on trend with most consumer needs.
#1 Real Estate
Whether you’re an aspiring real estate investor or just looking to buy your first home, it’s impossible to ignore one of today’s biggest trends – investing in real estate. It’s considered one of today’s most stable and lucrative businesses. In addition, investing in real estate also comes with very attractive tax benefits in most countries. Moreover, if you decide to rent out your properties instead of living in them yourself, your renters will likely pay your mortgage for you, meaning that over time even if there’s no growth in rents (which is highly unlikely), you won’t lose your money. And since rental income is considered as passive by lenders when qualifying for loans and credit cards, owning rental properties can make it easier to qualify.
If you are a professional estate agent selling and purchasing properties for a living, the odds are good that your business will remain profitable in years to come. Reinforced by state-of-the-art technologies like AI, VR, blockchain, the Internet of things, and the like, the real estate business will be offering more personalized experiences for potential customers and opening up additional income streams. And if you choose to strengthen your digital presence with the help of Tre Group, you’ll surely future-proof your real estate business and make it strive.
#2 Vending Machines
If you’re looking for a business that doesn’t need to worry about new techs and evolving tastes, look no further than vending machines much revolutionized by the Covid-19 pandemic. Vending machines are everywhere in businesses, even on the streets. They are stocked with foods, drinks, gum, office supplies, and more. If you can find someone who can sell you one at a good price, you can rest assured it will be around for years to come. This might also be ideal for your employees who don’t want to miss out on a snack during their busy day. Your machines can also operate in different environments, which means they don’t need any special refrigeration systems or the like. All they require for their normal operation is electricity. And if you think there’s nothing left to buy from a vending machine, think again. As people live longer lives and have more demanding schedules, products like energy bars and nutritional supplements are popping up in these convenient little units.
Another advantage of running a vending machine business is that it doesn’t require much initial investment. You can buy one for as little as $500! What’s more, vending machines don’t require much upkeep. That said, you need to be aware of what might happen if something goes wrong. A wise decision would be to partner up with an established vending machine company that provides maintenance and repair services. Many offer full 24/7 coverage so you never have to worry about any downtime due to a breakdown.
When thinking about starting a business, make sure you consider all options. After that, take some time to research each thoroughly before deciding on the one that fits your needs best. When it comes to longevity, few businesses can compete with those found in business in public spaces. And vending machines are one of them!
#3 Transportation Business
We may live in a technology-driven world, but our dependence on cars is unlikely to disappear anytime soon. By 2040, people are expected to buy more than one billion new cars. So, the automotive industry will continue to be one of the largest and more profitable industries in existence in the next several decades. What does it mean for you? If you have any interest in working with vehicles, now might be a good opportunity to jump into that market. Consider taking a class at your local community college or adult education programs to learn how to repair and maintain automobiles. You could also try your hand at selling used cars, especially if you’re familiar with new digital retailing business models. There is no shortage of people looking for affordable and reliable transportation. So, there should be plenty of demand for similar services. Just make sure you know what you’re doing before buying used vehicles yourself. Otherwise, it might cost you a lot of trouble when it’s time to resell them.
Another great venture you can take up is building your own mobile app like Uber, Bolt, or Lyft, and others. Now that ridesharing apps are on the ride, you can hope on the bandwagon and reap your own benefits. That said, you need to make sure you know what you’re doing. Ideally, you should enlist the help of an experienced development team that can help you put your ideas into practice.
