Countless industries exist across the world, each established for a particular purpose. While some multi task sometimes, others focus on a sole purpose. Times change and as a result, certain industries lose their usefulness and inevitably fold up. Some however, will remain till the end of time, if there’s ever an end. This post highlights 6 industries that can never run down.
The stability of an industry, apart from ensuring profits, also guarantees job security which everyone wants. As a result, many prospective business owners prefer to establish businesses in industries that are stable.
Most industries are quite stable and have the capacity to grow astronomically. However, something could happen which in turn could threaten the existence of such industries. On the other hand, some industries can never cease to exist simply because they are crucial to human existence. Industries like that focus on basic human needs. So, no matter how bad things get, these industries will stay put.
6 Industries that can never run down
1. Water industry
Water is a basic necessity of life. Water is needed everywhere, by everyone and for everything! It’s impossible for any living thing to survive without water. Little wonder 70% of the Earth’s composition is water. From the basic need of quenching thirst to irrigation, water is without doubt a much needed commodity.
If a business is established in the water industry, such business is bound to be profitable. Take the ‘pure water’ business in Nigeria for instance. Once a standard ‘pure water’ factory is established and enough awareness is created, people will always come to buy. The owner rakes in profits, rest assured that the industry wouldn’t collapse the following morning.
2. Food industry
Again, everyone eats food. Quantities may just vary from one person to another. It’s common knowledge that anyone who stays without food over a long period of time will die. So, food can’t be done away with and this makes the food industry one of the top industries that can never run down.
Establishing a business in the food industry such as opening a restaurant is a suitable investment. The number of people who then come for meals depend on certain factors. This includes the standard of the food, the cleanliness of the restaurant’s environs and sometimes, the presentation of the food. Notwithstanding, even a small “buka” by the roadside will be frequented by customers who have no aversion to food prepared and served in such environment.
3. Healthcare industry
Every human prefers to be in good health and most would do anything for it. If an unhealthy person for some reason, doesn’t get treated, he or she ends up being a liability. Eventually, there’s the possibility of death. No one wants that. So, when a person falls sick, the hospital, pharmacy or even a native healer is sought so that person can be treated. Any well-managed business established in this industry would bloom because sadly, people will always fall sick.
4. Clothing industry
The essence of clothing originally was to cover nakedness. These days, fashion has gone beyond that. As a result, special styles, designs and techniques are required for clothing. This has led to the establishment of several businesses with regards to dressmaking.
5. Transportation industry
Man has been referred to severally as a social animal. This means he interacts with his environment, other animals and especially, his fellow man. Due to this interaction, man has to move from one place to another for one thing or another. Inevitably, transportation is part and parcel of man’s life. Anyone establishing a business in this industry has nothing to fear with regards to stability and job security.
6. Education industry
When basic human needs are mentioned, education hardly comes to mind. What most fail to realize is education is part and parcel of human existence too. How? Education is not all about attending a specific formal school in a particular place and getting a certificate at the end of the day.
The little instructions parents give their children in itself is a form of education. Not to talk of other corrections from external but still informal sources. All these all under the broad scope of education. After all, there’s always something to learn and there’s always someone to teach.
Even today, people’s basic needs have broadly remained the same. In hard economic times, the industries mentioned above can face a slowdown, but eventually they comeback as spending on these services is only postponed. The bottom line is these industries have been around for a long time and will survive the ups and downs of market cycles.