Starting a new business can be challenging in an economic slump, but economists agree that it's also the best time to identify stable opportunities. When wallets tighten, luxury spending slows and people turn to products that give them sustenance and comfort on a daily basis. Food, beer, wine, sports – and chocolate – are the mainstays of American economy when people are distressed.

Here are a few examples of franchise giants that started out as pioneering firms in hard times:

Burger King Corp.: with its flame-broiled burgers, is a recession startup. The company began in 1954 when James McLamore and David Edgerton opened a Burger King restaurant in Miami, Fla. During another recession in 1957, the company introduced its successful signature burger — the Whopper. Today, the company operates more than 11,100 locations in 65 countries.

IHOP Corp.: is another star from the Eisenhower recession. The first restaurant in this national chain opened its doors July1958 in Toluca Lake,Calif. Owners Al and Jerry Lapin began franchising just three years later. Today, there are more than 1,300 locations across the U.S.

FedEx Corp.: began operations in 1973 as Federal Express, a nod to the Federal Reserve, with whom founder Frederick W. Smith had hoped to get a contract. He didn't, but the company that delivered 186 packages to 25 cities on its first night of operations now manages more than 7.5 million shipments every day worldwide.

CNN: might be a news giant now, but in recession-plagued 1980, it was a little-known station called The Cable Network News. It revolutionized how people received information when it premiered as the first 24-hour all-news channel. Today, 1.5 billion people across the globe watch CNN.

GE : (General Electric Co.) was established in 1876 by famed American inventor Thomas Edison. In the middle of the Panic of 1873, a six-year recession, Edison created one of the best-known inventions of all time — the incandescent light bulb. In terms of market capitalization, GE is now the third largest company in the world.

Read more about Recession Giants here.