6 Ways to Benefit in a Struggling Economy

You're bombarded by the bad news of the economic turmoil every time you turn on the news, open a newspaper or read a magazine. Everything you see paints a bleak and scary financial picture. There is a silver lining though. While some businesses are closing their doors forever, other businesses are doing better than ever before.

If you're considering starting a new business or looking to make a career change, you may want to check out one or more of these industries. While other businesses are faltering, these six industries are soaring.

Beauty schools
When you look good, you feel good. During tough economic times, people are looking for ways to feel better. Second, people look for ways to keep up their looks in a less expensive. Beauty and cosmetology schools answer both of these needs. It allows customers to find a place to help them look and feel good at a lower cost than typical hair, nail and skin salons. There is no doubt that these schools are seeing an increase in customers.

Shoe repair shops
Tough times have less people buying new items and more people trying to fix what they have. Instead of splurging on a new pair of Gucci or Ferragamo shoes, shoe repair shops around the country are reporting an increase in their business. It is more cost effective to repair the shoes and make them look like new than it is to buy a new pair.


Car service and repair shops
The same line of thought holds true with the cars and trucks we're driving. People are making repairs to their autos and keeping up the maintenance on their vehicles rather than buying the latest model. Oil change shops, mechanics, transmission services and muffler shops have all seen an increase in business since the economy has gone into a downward spiral.

Thrift shops
It only makes sense that consignment stores, thrift stores and second hand stores are also doing a booming business. These stores hold hidden gems, where shoppers can snag name brand goods for a fraction of the cost. Even those looking to cut costs on clothing, household goods, shoes and other items are scouring thrift stores to fill their needs and to help them save money at the same time.

Pawnshops
In hard economic times, people are not only looking to save money, but they are also looking for ways to make money. For some, what used to be the last resort is now their only option--pawnshops. People are pawning their prized possessions to cover household expenses and necessities because of job layoffs and in an effort to make ends meet.


Yoga studios
Economic turmoil adds to the stress that we already carry in our daily lives. This is great news for stress relieving businesses such as yoga studios, massage parlors and spas. While you think people would think of these as added expenses, tough times actually cause people to return to themselves. This means any product or service that helps relieve their stress and feel OK on the inside, even if everything on the outside is going down in flames, is a big seller right now.

Don't let the bad news flying around get you down. There is always a silver lining to the bad that happens in the world. These businesses have benefited from the situation and you can too. Whether you're thinking about opening a new business or looking for a new job, here are six areas you may want to check out.