Is your job recession proof? It has been 10 years since the last recession. I remember it well. My husband and oldest son had a remodelling business and were the only source of our income. I was just starting a prepared food business called Mom’s Table.
What happens to our job when a recession starts.
When the last recession hit in September of 2008 my son and husband lost all their work in 48 hours.
Overnight my work was all we had and I had just started it in August of 2008. Talk about timing! This seemed to be the worst time to start a business.
People were being laid off all around us. Home foreclosures were at an all-time high. Banks were closing or on the verge of closing. Stocks were dropping like a rock. Are you ready for this? Is your family protected?
Back in the early 70’s we had a recession started by skyrocketing oil prices and interest rates. Mortgage rates to refinance your home were 15-16%. I had to stand in line to get gas for hours. Can you imagine that?
My point is, all through history you and I have been surprised by recessions because they come like a thief in the night. They are difficult to predict. Like in 2008 when unemployment hit a record 12%.
Why we should start thinking about the next recession.
First, the feds are raising interest rates. But you are thinking “so what they are at a low point nothing like 2008 or the early 70’s”.
People tend to utilize a large per cent of their income for homes, new cars, and credit card purchases. So, interest going up 1-2% can have a drastic effect on credit cards, car purchases, short-term ARM type mortgages and long-term new home purchases. You and I depend on credit cards for vacations, weddings, college, and other essentials.
Inflation is another evil setting on the sideline where overnight practically everything can go from affordable to out of sight. Inflation was the main culprit in the early 70’s. Can you imagine money market rates at 14-15%? Well, that happened because very few people had any savings at all because they were in a fight for survival. Banks were begging for money or deposits, so they could lend at high rates.
Our government is taking a protectionist position with none or very little trade agreements. Military spending is at an all time high. Baby boomers are collecting social security at an all-time high. Oil is increasing in price. Medicare to care for our elderly is stretched as far as it can be stretched with more people every year. Most common people don’t have health care because of the cost. The national debt is still skyrocketing and so on.
How do you protect your income and your family?
Buy a franchise that serves an everyday need: FOOD. Back in 2008, I got to work pushing my food as my life depended on it. But guess what it was recession proof. People still needed food. People were glad to find a reasonably priced alternative to restaurants and grocery stores. Freshly prepared food was a hit.
Even when the recession stopped my business still grew. Why? Because everyone gets tired of eating out, bringing fast food home, stopping at the grocery store at 5 pm during the week or just prepping and cooking food on their own.
I found a concept, that unlike the prepping box phase that is sweeping the nation, is sustainable. I support myself and my husband with Mom’s Table income and have done so for 10 years and our revenue is still growing because we solve the pain like no one else.
How does Mom’s Table work?
It’s home cooking to go. We use our proprietary recipes to prep and prepare a home cooked meal that families love but don’t have the time, skills or motivation to prepare for their families. They just stick it in the oven and presto, they have a fresh home-cooked meal. Pick it up…heat it up…Done!
We are the go-to place for that last minute, “I didn’t plan anything” solution. Call ahead and you can be in and out in 5 minutes or less or just stop and browse what we have to offer. We have an extraordinary number of customers that tell us “I am so glad you’re here”.
So, think about our economy and ask yourself is your job recession proof or will you be prepared with a Mom’s Table franchise?