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4 mins read

Why The Car Wash Industry Is Becoming Increasingly Attractive To Investors

Up until about three years ago, the car wash industry wasn't particularly appealing to investors. Private equity firms owned approximately 1% of the nation's 65,000 total car washes and 2% of the nation's roughly 17,000 conveyor-style car washes as of June 2019, according to data from one of the industry's specialized brokerages, New York-based Car Wash Advisory LLC. In the next five years, some industry advisers expect that to change. “We’re nearing the basket tipping point, but there is still a ton of runway to go,” BlackArch Partners LP managing director John Conklin said. “If I think about car wash

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3 mins read

6 Ways Digital Consumer Behavior is Changing in 2022

A digital consumer may be defined as someone using technology to look for and purchase products and services on the internet. Digital consumer behavior is anything that a person does online. As the needs of these consumers evolve, brands are trying to meet the growing expectations. This article explores the six consumer behavior trends expected to reshape commerce the most in the year ahead. 1. Sustainability Globally, 60% of consumers consider sustainability an important purchase criterion. This figure in the US is slightly higher than the global average, at 61%. Consumers are looking for environmentally friendly alternatives when purchasing, increasing

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6 mins read

How to Capitalize on the Skilled Trade Shortage

Skilled trades have become an excellent alternative to regular degree jobs. However, the skilled trades industry is proving to be one of the hardest hit by worker scarcity. As labor markets strive to rebound from the impacts of the pandemic, a talent shortage of historical scale has catalyzed. 75% of companies have reported talent shortages and difficulty hiring – a 16-year high. The skilled trade shortage is a major concern with employers struggling to recruit, train and retain qualified workers within several industries including manufacturing and construction. A 2018 report found that skilled trade positions such as mechanics, electricians, welders,

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3 mins read

Top 5 AI Robotics Trends in 2022

We live in a time where technology is moving faster than we could have imagined. One such popular breakthrough has been artificial intelligence. The AI Robotics market is expected to grow from USD 6.9 billion in 2021 to USD 35.3 billion by 2026. As technology has advanced, more and more technological developments have been implemented in this field. A lot of efforts are being put into making artificial intelligence robots safe, friendly, and efficient, from increasing functionalities to improving security. Keep reading to learn more about the trends in AI Robotics in 2022. 1. AI-Powered Robotics and RPA RPA improves

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4 mins read

5 Global Trends Affecting the Fashion Industry

Fashion trends continue to evolve and change daily. A major key to being successful in the fashion industry is to identify these trends and act on them before your competitors. However, many fashion companies find it difficult to do this since they may not have a good understanding of the global trends affecting their industry. The revenue of the global apparel market for 2021 was estimated to be around 1.5 trillion USD, and it was expected to rise to about 2 trillion by 2026. The industry is quickly moving towards growth while these trends are still evolving. If you want

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4 mins read

5 Industries That Can Thrive During a Recession

No one can ever forget the Great Recession of 2007–08, where millions lost their jobs worldwide. The business world took a long time to recover from that recession, and it was almost 2010 before there was a glimmer of hope.

The 2020 COVID-19 pandemic was another brutal hit on businesses across the world. Many people lost their jobs again, and it left many small businesses wondering if there was going to be another recession on the horizon.

Unfortunately, there is no such thing as a recession-proof business since every financial crisis is unique. However, there are some types of businesses that have a better chance of surviving than others during economically troubling times.

Here are some recession-proof business ideas for 2022 that budding and expanding entrepreneurs can consider.

1)  Accounting and Taxation

Accounting and taxation are two areas that are always in demand. In fact, the role of accountants and tax consultants becomes more so important during times of economic crisis. The best part is that if you are a certified accountant, you can start the business with almost no investment. Additionally, companies across industries need help with accounting and taxation, making it easier to find clients irrespective of the economic situation.

2)  Healthcare

Healthcare services are constantly in demand, even during a recession. This industry also has a wide variety of areas you can invest in, whether it’s home health care, medical mobile screening, physical and occupational therapy, wellness coaching, post-hospitalization care, or alternative healthcare services.

3)  Elder Care Services

Older adults and their families often have to choose between aging at home and relocating to a facility that offers more specialized care. 77% of adults over the age of 50 want to age in place because they want to grow old in a familiar environment and do not wish to give up their independence. Additionally, aging at home is more affordable.

However, these older adults might still require assistance with personal care, housekeeping, meal preparation, shopping, transportation, and other activities of daily living. This is why in-home care companies are always in demand all year round.

4)  Handyman and Repairs

Offering repair and maintenance services can be quite a lucrative business venture if done right. Home appliances, electronics and gadgets, furniture, small engines like lawnmowers and leaf blowers, and cars are just some things that can break down anytime and require immediate repair. There is always a need for handyman services, especially during a recession, as people find it more affordable to fix their existing equipment rather than purchase new ones.

5)  Delivery Service

In the last two years, the product delivery industry has grown exponentially, and experts predict that this trend will continue in the future. The rising popularity of e-commerce websites and the consumer demand for instant delivery have also contributed to this boom. Whether it’s food, medicine, or product delivery for e-commerce companies, this is one industry that has a lot of potential for growth and expansion.

No matter the industry, starting a business comes with its own set of potential problems. However, with careful market evaluation, planning, and implementation, you can create a business model that is well-equipped to handle the challenges of negative economic conditions.

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