By Michelle Wanjiku
Starting a business is a big step and it comes with a lot of risks. You are always worried that it might fail and all the money and effort you put into it will go to waste.
A good entrepreneur will anticipate all these challenges and come up with ways to prevent his or her business from failing.
It is expected that a business will encounter low seasons where they don’t sell as much as they normally do and this is when most businesses close down. However, not every industry faces this problem. There are businesses you can start that won’t be immune to tough times but don’t really experience long periods of low sales.
1. Health service
People will always need medical attention regardless of the economic times.
When it comes to businesses related to health you don’t just have to own a Clinic or pharmacy. There are various aspects of health you can go into.
For example, people are now becoming more conscious of their nutrition as well as their fitness.
You can choose to start a gym, come up with a nutrition plan or sell natural products.
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2. Groceries and consumables
Food is also another very important part of people’s daily life. No matter what the economy looks like, people will always buy food and other necessities.
The only difference will be in terms of the quantity being bought.
This means that if you decide to start a business in the food industry, you will most likely never face a situation where you don’t sell anything.
Having a solid business that people trust will help boost your business even during the low season.
3. Beauty and cosmetics
Another well-performing industry is the beauty and cosmetics industry. People will always want their hair done because they want to stay presentable.
Consumers are also looking for products that are of good quality and work for them. You can open up a salon or barber shop, come up with your own brand of products from make-up, hair products or even perfumes.
Alcohol is a very big part of the social scene in the country. This is why there are very many clubs and lounges being opened every other day.
This industry is big and you can choose to go into owning a brewery, becoming a supplier, opening a bar among other things.
Business is rarely low in this industry because people use alcohol in all situations; whether celebrating or mourning.
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5. Repair shop
When it comes to opening a repair shop you shouldn’t just imagine a phone repair shop. You can open a tailoring business, shoe repair business, a garage as well as an electronics repair shop.
Most people would rather fix something than buy a new one because more often than not this is the cheaper option.
This means that when economic times are hard instead of facing a drop in business, it might actually increase because people can’t afford to buy new items so they choose to repair them.
6. Death and funeral services
It might seem like a taboo because no one wants to talk about death but it is inevitable and so there is a need for funerals.
This means that a business that deals with proving services for a funeral will rarely have to deal with low seasons.
The businesses you can set up in this sector include making coffins and headstones, providing morgue transfers and public address systems, or even investing in a mortuary.
Of course, no business is completely immune to the changes in the economy but these businesses are the ones that are least affected.
You will definitely face challenges even if you decide to start a business in the mentioned industries. There is no guarantee that your business won’t fail. However, with good business practices you will limit these chances.
Source: The Standard
By Michelle Wanjiku