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The headlines still reek of bad news. Chicken Little rules the day. All you read is that unemployment is at 8.5 %, and expected to rise in the months ahead. Home sales and values are shrinking. As consumers continue to curb their spending, businesses suffer, and new layoffs happen daily.
Making Money in a Bust EconomyDocument
However, for some businesses, they have found a way to profit in the economic downturn and are smiling on the way to the bank. While there has been a steep downturn in new car sales, this has caused auto repair shops to do a brisk business as drivers try to make their cars last longer.
Movie theaters have reported box office booms as people seek relief from economic stress. For the same reason, chocolate sales are holding steady and domestic table wine and value-priced liquor sales are up.
While consumers might not be buying new expensive brand name items, they are frequenting thrift shops to buy them at a discount. Major discounters are all reporting healthy sales.
Fast food restaurants with dollar menus are doing well too.
People are seeking bargains wherever they can be found. Beauty schools typically offer services at half or one third the price of salons. Shoe repair shops are doing well as patrons no longer buy new brand name shoes or handbags, and rely on keeping what they have in good shape.
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