Need Base Businesses
By: Devon Holley
Good Morning everyone, I hope this article finds you in good health. My best friend and I had a discussion yesterday about commercial real estate. Within the last year we've seen some many small businesses hit hard across our nation. Some businesses that were even passed down three generations closed their doors. Now, we all agree that Covid was the major factor in destroying our economy, but the fight has just started for many business owners.
So I'm writing this article to encourage young entrepreneurs to consider need base businesses. Sometimes we forget about them considering their always there. The Coffee business is very competitive, but somehow small unknown Coffee shops seem to still thrive every year. Even with large corporations moving into their markets, these small shops just keep pouring into people's lives. Another great example of need base businesses is Hair Salons. The last time I checked, you can't order a hair cut. Well, with Style Seat most barbers are available for home visits, but you get the idea. Style Seat is a great app for booking hair appointments for your favorite Barber.
With automation and web base shopping, commercial real estate will suffer around the world. I know what your thinking and it's not just Amazon. Need base businesses during the Pandemic skyrocketed in sales. Coffee Shops, Grocery Stores, Car dealerships and Outdoor equipment stores made a killing. All those businesses are needs for customers, and yes Coffee is considered a need. No matter how bad the economy gets these businesses will never go away. Sometimes as people we tend to overlook the simple solutions. Everyone wants to be the next, Musk, Jobs, or Bezos, but really consider why their so successful. They all shared the idea of developing businesses that consumers need. Cars, books, and computers are although simple needs, imagine a world without them. So, don't reinvent the wheel, just make sure it keeps rolling and you'll be successful.