Here’s a mind-blowing fact: While 20% of new businesses fail in their first year and 23% don’t make it to their tenth anniversary, some businesses have been thriving for over a century. What’s their secret? It’s called the Lindy Effect – the longer something has existed, the more likely it is to continue existing.
Let’s dive into six business models that have stood the test of time, and more importantly, how you can adapt them for success today.
1. Premium Eyewear (Moscot, Since 1989)
From humble beginnings as a pushcart vendor in New York’s tenement district to a luxury eyewear brand, Moscot’s story teaches us a crucial lesson: some needs never go away, they just evolve.
Why it works forever:
- People will always need prescription glasses
- Sunglasses remain a constant fashion accessory
- The market is massive ($215 billion by 2025)
- 90% of sales still happen in brick-and-mortar stores
Modern Opportunity: Want in? Partner with influencers or create a unique brand identity. The key isn’t just selling eyewear; it’s selling style and status.
Real-world opportunities I’m seeing:
- Custom frame design studios (think Warby Parker but more personalized)
- Mobile eyewear services for corporate offices
- Specialty sports eyewear boutiques
- Virtual try-on technology combined with physical stores
Look at what Oliver Peoples did – they turned eyewear into a luxury status symbol. Or Gentle Monster, who transformed their stores into art galleries. The future isn’t just about selling glasses; it’s about selling an experience.
2. Boutique Hospitality (Algonquin Hotel, Since 1902)
The hospitality industry has evolved from traditional hotels to modern experiences, but the core need remains unchanged: people need places to stay.
Modern success recipe:
- Start small with unique Airbnbs
- Create “Instagram moments” in your properties
- Focus on experiential elements
- Build a brand around specific themes or experiences
Pro Tip: Don’t start with a hotel. Begin with one unique Airbnb property and scale up based on what works.
Successful modern examples:
- A treehouse Airbnb in Texas making $25,000/month
- A converted train car in the mountains generating $40,000/month during peak season
- Theme-based properties (like the “Harry Potter” house in London)
I’ve seen properties succeed with:
- Outdoor movie theaters
- Private pickleball courts
- Instagram-worthy breakfast nooks
- Custom-built game rooms
- Themed rooms for specific audiences (gamers, artists, writers)
3. Specialty Food (William Poll, Since 1921)
This upscale deli teaches us that food businesses can thrive by finding the right niche and execution strategy.
Success factors:
- Small retail footprint
- Private labeled products
- Strong e-commerce presence
- Focus on premium, unique offerings
Modern Approach: Partner with local grocery store buyers. It’s easier to get shelf space locally than trying to go national immediately.
Modern success stories:
- A small-batch hot sauce company that started in a farmers market now in 200 stores
- A family cookie recipe turned into a $2M/year business
- Specialty olive oil stores in tourist areas
- Custom spice blend businesses
Here’s what’s really working now:
- Monthly subscription boxes for specialty items
- Collaborations with local restaurants
- Ghost kitchens for specialty foods
- Virtual cooking classes combined with ingredient delivery
4. Construction (John Gallen & Son, Since 1886)
Construction might seem old-school, but it’s never going out of style. The key? Adaptation and specialization.
Modern opportunities:
- Focus on niche markets (like startup office buildouts)
- Develop a signature style
- Build strong relationships with skilled laborers
- Manage the busy-slow cycle effectively
Smart Entry Strategy: Instead of starting from scratch, consider buying an existing construction business from retiring owners.
Emerging opportunities:
- Sustainable building specialists
- Smart home integration experts
- Disaster preparation retrofitting
- Aging-in-place modifications
- Container home conversions
I’m seeing companies crush it by:
- Creating YouTube content about their projects
- Specializing in specific architectural styles
- Focusing on luxury outdoor living spaces
- Becoming experts in historic renovations
5. Specialty Pharmacy (C.O. Bigelow, Since 1838)
Even with giants like CVS and Walgreens dominating, specialty pharmacies can thrive by being different.
Winning strategy:
- Curated, unique product selection
- Focus on premium, specialty items
- Create proprietary blends/products
- Excellent customer service
Future Opportunity: The market is ready for specialty corner stores that offer curated, local, and unique products.
Modern variations thriving today:
- Wellness-focused pharmacies with meditation spaces
- Compounding pharmacies for personalized medicine
- Holistic health centers with both Eastern and Western medicine
- Mobile pharmacy services for elderly communities
Innovative additions:
- In-store health coaching
- DNA testing services
- Specialized sports nutrition sections
- Custom supplement programs
6. Department Store Evolution (Macy’s, Since 1924)
While traditional retail struggles, Macy’s teaches us about the power of marketing and adaptation.
Modern lessons:
- Focus on creating experiences
- Use content marketing effectively
- Build community events
- Let customers guide product development
Today’s Approach: Follow the Blogilates model – create content, build community, then sell products based on direct customer feedback.
Current success strategies:
- Live shopping events (like what Target is doing with their social media)
- Community event spaces
- Personal shopping services
- Local artist collaborations
- Virtual fitting rooms
Why These Models Are More Relevant Than Ever
The digital age hasn’t killed these businesses – it’s made them stronger. Why?
- People crave authentic experiences
- Local businesses have advantages in personalization
- Social media rewards unique, photogenic experiences
- Community connection is more valuable than ever
- Trust in traditional institutions remains strong
- These businesses can combine online and offline presence effectively
Common Mistakes to Avoid
I’ve seen people fail in these industries by:
- Trying to scale too quickly
- Ignoring the power of local marketing
- Not building relationships with other local businesses
- Focusing on trends instead of timeless needs
- Underestimating the power of word-of-mouth
- Not investing in staff training and retention
Remember: The goal isn’t to reinvent the wheel – it’s to make it roll smoother and look better while doing it.
The Common Threads of Success
What makes these businesses timeless? They all:
- Focus on fundamental human needs that don’t change
- Adapt their delivery while maintaining their core service
- Build premium or specialized positions in their markets
- Create unique experiences
- Maintain manageable operations
Your Action Plan
Ready to build your own timeless business? Here’s how to start:
- Choose a proven model that interests you
- Start small and focus on quality
- Build relationships in your community
- Create unique experiences for customers
- Stay flexible with delivery but consistent with core service