Home Service Articles It's a Recession! Why Start Now?
It's a Recession! Why Start Now? PDF Print E-mail
Written by Paul DelFino   
Saturday, 28 March 2009 01:41

Do you feel like you cannot avoid the daily doom & gloom of negative economic news these days?

In the wake of this onslaught it may appear inconsistent that anyone suggests that you invest in a new business or add another service to your current business. However - that is exactly what you should do! Business cycles are business cycles and when you are in the trough it is difficult to remember that there will be a recovery. Discuss this with anyone who was managing a business in the early 1980s. Although that period was not an exact replica of our current circumstances the end result is worth remembering.

TWO THINGS ARE FOR SURE
1) Home Ownership Will Be Longer - Through the last decade home ownership was about 7 years on average. The upside of the current housing crises is that many homeowners will not take the risk of "trading up their homes!' Many instead will decide to maintain their current dwelling and improve or beautify it.

2) Sellers of Homes Will Invest To Beautify - More competition will motivate sellers to take their real estate brokers advice to beautify their homes. The investment in decorative concrete engraving can be the differentiator in a tough market as buyer identify the added value.

HISTORY TEACHES US
When reviewing statistics available from the U.S. Department of Economic Research from 1959 to today, we can learn:

  • Economic downturns unquestionably negatively impacts investment
  • BUT downturns set the stage for SURGES in recovery
  • AND historically, the increased demand and investment grows.

 

BE THERE - BE READY --

Anytime is good time when you find a business opportunity with a low cost of entry that offers excellent return on investment potential. Although your growth curve at start-up may not be as steep in a recessionary environment, you will be in a position with: resources, experience, brand identity, and local references to catch the wave that is inevitable in the recovery.

WHY NOW --

Starting a new business or adding an existing service to an existing business takes time. Irrespective of when you believe the current economic environment will improve: the timing is now for training, gaining experience, learning the business and building an image in your market.

ONE OPTION -
During a time when homeowners are looking for ways to enhance the improvement of their property because

  • the potential selling appeal could be increased
  • the family wants to have a more attractive appearance for a home they plan to stay with
  • the family wants to make a positive statement on a purchase of a home that is new to them

 

or due to other choices and possibilities, the prospect of decorative concrete engraving has increased appeal to the entrepreneur. If you are interested in learning more about a small business with potential appeal to homeowners, you can visit Engrave-A-Crete. Inc to find out about training, equipment and resources.

Article by: Paul DelFino
Paul J. DelFino is a principal of the consulting firm Opportunity Inc. For nearly 15 years, he has assisted entrepreneurs within service and contracting businesses to increase their return on investment. Visit http://www.opportunity-inc.com to contact them or learn more about their services

 
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