Another Recession-Proof Business?

It’s strange, the businesses that do well in recessions. I’m talking in industry terms as opposed to specific companies that don’t forget to function properly. 

The high street stores fall. That’s an unfortunate given but would’ve happened anyway with the huge leap in online spending that predated the slow-down. The other given is that debt collectors probalby see a good bit of business – on a professional level not some bloke in a bomber jacket demanding you pay your rent. 

A very good friend of mine lost his job in the early collapse of the high street, he went from assistant-managing a certain music shop that went into administation over the Christmas to New Year period to a period of job searching with some of those he applied for going under suddenly before the interview date. 

Now though, he’s employed in a company that seems to be getting plenty of business. Almost directly as a result of the economy. He works for one of those self storage companies you see on the edge of towns that spring up over night. nothing glamourous (as if there could be) just sitting behind a desk taking calls from people wanting space. With the housing market collapsing people are losing money on big houses, moving into smaller properties and need somewhere to store their belongings that the new place doesn’t have room for. 

Thing is it does show a certain belief in the eventual recovery of the economy. Rather than getting rid of the belongings that a cut-back living arrangement removes the space for, they’re simply putting them somewhere secure, for another day.  Like putting a beloved old motor into the garage until fuel’s cheaper rather than selling it off for the cash. My fingers are crossed.

Not only that, but there’s loads of people that have had enough of the country full stop and are storing their things before, or while, emmigrating for sunnier shores and companies downsizing to somewhere with no space for archives. Everyone has stuff they want to keep for later. 

Obviously good news for job stability but bad news for me as I no longer get a discount on me cds. Selfish git. Though he’s yet to tell me of anything ‘amusing’ that’s been locked away during his shifts.

So, is it time to add self storage to the list with funeral parlours, fast food (seems people find money for a double bacon xl even when unemployed) and the energy companies?

Either way, the media won’t report it as news of successful businesses no longer shifts papers or gets viewers.

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  1. It doesn’t surprise me that fast food joints still do good, but I must say it does surprise me that self storage places are doing well in the economic decline.

    Good article!

    Brian




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