I have some commercial space I want to fill, and have cooled off on real estate investing until a major correction happens. I want to use the equity in my properties to start a business, before it vanishes into thin air, but I've been concerned about our markets for the past year.
So I have been going over the usual business ideas which do well in recessions: corner store, thrift store, appliance repair, collections, etc...
My location is very rural, with about 4 million people in seasonal traffic during summer. I am ok with a seasonal type tourism business. Like outfitting, selling trips, and hotel (I have approvals for this).
I understand that tourism will probably be the first sector to be hit hard by a recession, but even during 2008-2010, we still had huge amounts of tourism in my area. So if I can hedge my bets by developing a tourism based business AND a recession proof idea, I think I will be in good shape.
Any ideas?
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