What does it mean when I tell people that a business is recession resistant?  Let's look at this phrase more closely.  To me the definition of a recession resistant business is a business that continues to thrive, grow, and make money in any economic condition.  In my Economics class I studied NEEDS AND WANTS.  Needs are things that we as consumers need to maintain our life styles and the daily activities, in other words "NECESSITIES".  Things like food, clothing, a roof to live under etc.  Wants are things we want to have, but are not necessary to maintain our life styles or daily activities.  Things like 50" Plasma TV, fancy car, diamond ring etc.  When the economy is good and people are making money, we tend to spend on our wants, however when the economy is bad, we tend to cut down or even eliminate wants, however our NEEDS never go away, so here is a list of industries that I feel are NEEDS Category.

• Automotive Repair - Cars will be around forever and they require repairs and maintenance and regardless of the economic conditions, we will continue to spend money on our cars.
• Children Businesses - Everything from tutoring to enrichment programs, after school programs, birthday parties, test preps.  Parents will spend money on their kids well being.
• Senior Care - Just like our children, we take care of our parents and grand parents.  Whether they have illnesses, need help around the house, companionship one thing for certain, is that we will get old and will have special needs.  This industry is one of the most stable and fast growing.
• Fitness/Weight Management - Here is an industry that has been growing rapidly for the last decade and has gotten a great deal of media coverage.  We as Americans are the most overweight people in the world and there have been plenty of studies done that have determined that obesity causes many other health problems. 
  
• Hair & Beauty Salons - I remember a Saturday Night Live skit where Billy Crystal played a character who used to say "Darling, I'd rather look good than feel good"  Grooming is a necessity.  Men, women, kids need hair cuts, facials, manicures etc.  Most of us need these services, because of our professions, our jobs and schools.
• Coffee Industry - You might be surprised by this category.  Every morning, as I drive to work, I can't help but notice full parking lots of cars, long lines at drive thrus of Coffee Houses.  I myself stop every morning and afternoon to pick up a cup of coffee.  With Specialty coffees, ice coffees and other drinks available today, this industry is a year round business which seems to thrive in any economy.
• Pet Care - Pet industry is a billion dollar industry and pet owners consider their pets as members of their family, thus spend money on the well being of their pets, from grooming, training, spas, gourmet treats, camps, etc. 

Last thought, most Millionaires did not become rich from a paycheck.
 

One of the most common question I am always asked is "What's Hottest business out there?"  The reason people ask that, is because everybody wants to be on board when the next "Best Thing" comes out.  Today, I am going to tell you how to be the first to bring the "Next Best Thing" to your area, your city or your country.  There are two opportunities available with Franchises that most people do not know about: Master Franchisee and Area Developers. 

Area Developers:
An Area Developer purchases an exclusive territory and makes a commitment to the Franchise that he/she will open X amount of units in X amount of time.  Here are several advantages:

• Exclusive Territory means no one else will ever own that concept in your area.  Imagine being the only person in your area who owns the "Next Best Thing"  As the "Name" gains popularity, so does the value of your business.
• Most Franchises offer discounts on Franchise Fees to Area Developers
• Multiple locations maybe cheaper to operate, because you can divide the expenses between several locations.
• Your primary function is a CEO and CFO of your company.

Master Franchisee:
A Master Franchisee purchases an exclusive territory and makes a commitment to the Franchise that he/she will find, assist, support new Franchisees in that specific area.  Basically, a Master Franchisee becomes a Franchisors mini corporate office.  Here are several advantages:

• For every new location a Master opens, the Franchise will typically pay him/her 1/2 of the Franchise Fee and then typically 1/2 of all the royalties collected.
• Master can develop and area using other people's money and time.
• Residual income...As long as you maintain your Master Status, you will continue to get the percent of royalties from every location you open for as long as they are in business.

The biggest concern and fear that people have about bringing a new concept to an area, is the fact that no one has heard about it, but isn't that the idea? to be the first? 
Both concepts require a much larger investment than a single business, however most millionaires did not become rich from one location, so THINK BIG.

Every day we all wake up to more negative news about the economy and the state of the financial market.  We turn on the news to listen to the so called experts telling us what to do with our investments.  Here is a thought that I would like everyone to consider " Invest in yourself by buying a business".  I am not talking about just any business, but more specifically a Franchise business.  Let's consider the advantages.  The Franchise Industry is regulated by the Federal Trade Commission for over 40+ years and that is one of the biggest reasons why we have not had a large scandal in the Franchise Industry.  Franchises have a 95% success rate, which was determined by a study that was conducted by the Department of Commerce.  The study looked at start up business both Franchise and non Franchise and showed that after 5 years from the inception of the business 95% of Franchised businesses were still in business and 87% of those were still owned by the same owner, only 18% were still in business of the non Franchised start ups.  Imagine investing your hard earned money in something that has a 95% success rate.  Imagine also having full control of your destiny and making all the decisions in your financial future.  Here are some statistics about the Franchise industry.  By 2001, there were 767,483 business establishments in all domestic franchise systems (either owned by franchisors and franchisees), which employed almost 10 million people, with direct output close to $625 billion, and a payroll of $230 billion.  Why are Franchises so successful? Because they eliminate the learning curve.  When you buy a Franchise, you are buying an existing and a proven business model, where the Franchisor is providing you with the training, support, marketing, trade secrets etc.  Franchises give you all the tools to be successful and all you have to do is use those tools.  Most people think of Franchises as a fast food concepts, but there are at least 75 industries that currently offer Franchise concepts from different investment levels.  Banks, landlords and businesses prefer to deal with Franchises, because they are aware of the success a Franchise has to offer and you are more likely to get a loan from a bank for a Franchise, than you are to get a loan for a non Franchise business.  Most banks require a 20% down on an SBA loan.  Next time you think about how to invest your money, think about buying a business and investing in yourself.  Just think about this:  The Franchise Industry slogan is " You are in business for yourself, but not by yourself.