Opening During Recession

Starting a tanning salon business during an economic recession sounds like a daunting task, but major businesses have flourished during rough times. Hyatt, Burger King, IHOP, FedEx, Microsoft, and Trader Joe’s all started during an economic downturn. Businesses that are geared to fill a hole in the market, or streamline business operations tend to come out ahead. Of course during a recession, entrepreneurs should take some extra precautions like creating feasible business plans and making careful projections.

One of the biggest advantages of starting a business during a recession is the fact that you can get good deals on leasing business spaces. “According to Grubb & Ellis, the average retail rental rate was up 1.7% in 2007, but is showing a big decline in rental rates- some instances as low as 10%, with a forecast for even lower rates (Articlesbase).”

Sometimes just opening a business makes more sense than standing in an unemployment line. If you could find the capital to open, you could be well on your way to a successful business.

Sources:
http://www.insidecrm.com/features/businesses-started-slump-111108/
Articlesbase – http://www.articlesbase.com/business-articles/great-deals-in-the-market-on-office-leasing-in-todays-economy-787810.html