3 Recession-Proof Side Hustles That Could Protect Me From Lost Income

  • I like to have many sources of income, so I’m never blindsided by a sudden drop in income.
  • Speaking of a potential recession, I looked for surefire ways to make more money.
  • I am considering buying a vending machine, starting a pet care business and doing some tutoring.

One of my biggest goals for 2022 is to find another profitable stampede. As an entrepreneur who has been self-employed since 2015, I am always eager to find other ways to generate new income.

But speaking of an impending recession, I want to make sure I’m putting my resources into a business that won’t collapse if the economy is hit hard.

During my research, I came up with a list of side businesses that historically have been recession proof.

1. Vending machines

For the past few years, owning a vending machine has been at the top of my list of side activities. You can buy a vending machine for a few thousand dollars (between $1,500 and $10,000 depending on the type of machine) and only have to worry about weekly upkeep and maintenance, including restocking the machine. and its proper functioning.

The vending machine industry is recession-proof, not only because these vending machines are often found in high-traffic areas, such as airports, entertainment centers, shopping malls, etc., but also because of the Item prices: It’s not a huge cost for a consumer to stop and spend a dollar or two on a snack or drink.

Once you’ve decided on the type of vending machine you’d like to have (personal products, food, electronics), you go out and secure a location by asking busy facilities to rent the space to you or take a cut of the profits. Then you buy the vending machine. It is a low lift startup that can generate good profits.

2. Animal Care

It wasn’t until I got my first dog in 2022 that I started to see how much money it costs to have a pet. Not only do you have to shell out money for food, treats, and toys, but the vet bills always seem to pile up.

According to the American Pet Products Association, people spent $123.6 billion on their pets in 2021, up from $90.5 billion in 2018. Additionally, during the pandemic, more than 23 million U.S. households , nearly one in five households, have adopted a pet. , according to the American Society for the Prevention of Cruelty to Animals.

With the influx of pet owners, a recession isn’t going to change their buying habits too much when it comes to the essentials their dogs need. That’s why I’m considering pursuing a side hustle in the pet industry, whether it’s starting a food or treat business, a leash and collar business, or making more pet care and walking.

3. Tutoring

Just because a recession is happening doesn’t mean the whole world stops. One thing that continues is school, and because of this, many parents still find themselves in the market for tutoring or after-school education.

Although you can hire a tutor of different education levels for your child, at different prices, it’s a service that parents with even a little extra disposable income are unlikely to cut if it means their child can progress in school or even increase their scores to get into a certain college.

I’ve never done tutoring before, but after looking into it, anyone can create a profile on sites like Wyzant or Tutor.com, list their resume and accomplishments, figure out what subjects they want teach and set his hourly rate. From there, parents can reach out to find the best tutor for their child’s needs and budget.

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