Senior Businesses
Temp Hold
Are you a retiree, an elderly person or senior and you are
seeking ways to avoid being idle; maybe while earning
extra income? Maybe not just seniors… There are great opportunities for young
people, entrepreneurs and businesses that
want to focus on an industry,
a product, and/or a service that offers social and/or economic benefit to
senior citizens in our Community.
Seniors are the hottest demographic in the entire country, and our Community is
no different. And this market is only going to get bigger. It
is in fact a growth industry. The good news about the senior market is
boundless opportunities exist for businesses and entrepreneurs
wise enough to think ahead. The big opportunities are growing since in the
seniors market may still be 5 to 15 years into the future.
When folks age and retire, they often tend to “vegetate” and
take life easy… and that is okay, but more and more individuals that retire,
many want to stay active and to be involved in their community and business. As
the baby boomer generation continues to age and people enjoy longer lives, it
creates a need for businesses that cater to senior citizens. Business ideas
include helping seniors with basic living needs as well as providing products
and services. Some ideas may require only basic skills while others call for
more specific expertise. Businesses that cater to senior citizens need not
necessarily be started/operated by senior citizens – indeed, it is the need for
such businesses and services that should be recognized that focus on the senior
community.
Most Seniors want to do something
to keep themselves busy, but there
aren’t many companies out there willing to employ elderly people. I believe that studies have shown that when elderly
people are not allowed enough physical and mental activity, it shortens their
lifespan. It
is understandable that most
people who are advanced in age need to take it slow and not involve themselves
in activities that are physically exerting and strenuous but it doesn’t mean
that the senior generation cannot still work nor do something to keep them busy
if they have the energy.
The following are
but an example of Business Ideas that may apply to Senior Citizens. While many of the
suggestions may be of more interest to seniors in large cities or Metro areas,
it is no less of interest to explore possibilities:
1. Baby sitting- Elderly people
love children and children also love to be around elderly people and this is
why the first business i would recommend for an elderly woman is to set up a
baby sitting center.
2. Consultancy- You probably
worked in one industry before you retired and after several years in that
industry, you would most likely know a few tricks of the trade that you can
teach other people. You could offer your services as a business consultant and
help the younger generation some business success tips.
3. Public speaking- Another option
is to become a public speaker and share your ideas and knowledge with the
younger generation.
4. Book writing- You could also
share your life’s journey, your experiences, things you have learned, marital
advice, and parenting tips or just about anything you feel people would be
interested in reading. You don’t have to stress yourself looking for publishers
to publish your book; you can always write, publish and sell on the internet. There are numerous software packages that
allow self-publishing.
5. Coaching services- There are
several niches when it comes to coaching. You can become a life coach, a career
coach, relationship coach, religious coach or a marriage counselor.
6. Pet sitting- This is
another business that doesn’t involve too much physical activity. However, you would need a proper location that would
be appropriate, as well as perhaps needing an assistant
to help you out because pets can sometimes be restless and naughty.
7. Bed and Breakfast services- Most elderly
people complain of loneliness and boredom. Well, to ease the boredom, you could
set up a bed and breakfast hotel. You do not need to purchase a property or
have millions in your account to start a bed and breakfast business. If you
have a bedroom or two in your home that you are not using currently, all you
have to do is to convert it to a comfortable space where tourists or visitors
can pay you to spend the night.
Of course it should go without saying that a good place to start would be with
the local authorities to determine permits and requirements.
8. Property management- You could also
consider becoming a property manager. You could start with helping neighbors,
friends or members of your local group to look for people to rent or lease
their vacant properties. Again, this is a business that can be done
conveniently from home.
9. Real estate developer- You could also
invest your retirement savings into building or buying houses for resale. Flipping houses is a possibility, but
probably only if you have some experience and knowledge of the requirements of such
a business.
10. Tax consultancy- Many companies
and individuals require the services of someone who can help them reduce their
tax burden. You could start a tax consultancy business to help such people out. Again, previous experience would most likely
be a great advantage.
11. Freelance writing- Another
alternative is to become a freelance writer. You could make money from writing
web content, copywriting or guest blogging. There is a great deal of information on this
subject that would of value when exploring such an effort.
12. Blogging- You could also
share ideas, experiences and advise with the younger generation through
blogging. You could earn a lot of money from advertisements and affiliate
marketing.
13. Catering- You could also
become a caterer or write your own recipe book and sell it. Of course, there
would be a lot of recipes the younger generation could learn from you.
14. Event planning & Management- If you are
someone who loves planning and organizing things, you could think of starting
your own event management business.
15. Teaching- Another top
business idea for elderly people is to either set up a school or become a
part-time or full-time teacher depending on how much time you have got to
spare. You could even start an after-school tutoring business for school
children.
16. Internet selling- eBay is a good
market place for selling just about anything. You could sell used stuffs you no
longer need on eBay, antique
furniture, stuffs you make at home like jewelry, candles etc. Of course Computer and Internet knowledge would
be an important background.
17. Customer service representative- You could also
start a home-based customer service business and help business owners take
orders, respond to enquiries or solve problems their clients might be facing
with their products and services.
18. Online tutoring- If you love
teaching but cannot cope with the stress of becoming a school teacher, you
could become a tutor on the internet instead. There are several websites where
you could apply to for online tutoring jobs and get paid nice commission.
19. Bookkeeping- Another idea
you should consider is to start
a bookkeeping service and help people keep records of their income and
expenses and even prepare financial statements.
20. Dress making- You could also
put your sewing skills to use by making and selling clothing items for babies
and adults, bed sheets and pillow cases, stuffed animals, pet clothes, cloth
diapers or duvets.
21. Pickup and
Delivery Service-
Seniors who are unable to get out and about can benefit from a
home pickup and delivery service. Possibilities include groceries, dry
cleaning, laundry and veterinary visits for pets. A van, station wagon or
pickup truck can be helpful, especially if your plan to transport larger items
or pets. Gain clients by leaving business cards at senior centers or living
communities.
22. Handyman and Property
Maintenance- Seniors may
need assistance in caring for their properties and you can help them by
providing maintenance services. You can mow the lawn and tend to the garden, as
well as perform repairs around the home. For seniors who travel frequently, you
can care for their properties while they're away. One way to gain business is
to conduct home repair clinics or seminars at local home and garden stores.
23. Technical and
Computer Training-
Surfing isn't just for young whippersnappers … Retirees who now
have more free time may have the desire to learn how to use a computer. You can
teach them the basics of computer use such as surfing the Internet, sending
emails and preparing Word documents. A free seminar can also be used as a way
to meet potential clients. Patience and motivational skills are beneficial when
teaching novice computer users. Helping seniors feel successful, due to lack of
access, lack of skills or intimidation, have yet to make use of Internet
technology. An option could be online tutorial training in basic skills like
Internet and e-mail use.
24. Real Estate- Some seniors
look to relocate to warmer climates upon retirement and need assistance selling
their home and purchasing a new one. Career possibilities include helping
seniors sell their existing selling home or serving as a buyer's agent. An affiliation with a local Real Estate
company may be the best entre into this activity.
25. Investment
Adviser- Seniors who are
living on fixed incomes often need assistance in managing their finances to
make every dollar count. As a financial adviser, you can help them develop a
plan to maximize pension, IRA, 401k and Social Security payments. Obtaining
credentials, such as Certified Financial Planner, can provide you with
additional expertise and credibility (See Resources).
26. Senior
Transportation-
The challenge in the senior transportation business, experts
agree, is finding ways to provide seniors who can no longer drive with the
ability to get where they want to be-and get there in style. Losing the ability
to drive can be devastating, but entrepreneurs who find ways to make the ride
enjoyable will cash in.
The need for transportation services is certainly there,
particularly if you don't limit your service to daytime activities. "Car
services that pick you up, drop you off and return you-after a party, a dinner,
the symphony-are great for entrepreneurial endeavors.
A concierge service for seniors could both provide escorted
transportation and bring services into the home, depending on what the client
requests. Think beautician services, dry cleaning, mobile vets, domestic
help-again, anything that makes seniors' lives easier and also makes use of
their disposable income.
A good place to
start evaluating this business would be to talk to an insurance agent that
could provide details on liability exposure.
27. Adult Day Care- Representing
another idea still in its formative stages, adult day care may already be
provided by existing senior communities.
But this may be an opportunity to “contract” with existing senior communities
whereby they can expand their offerings to their clientele.
The rise in adult day-care services is a sign of the times…
"This area is growing rapidly because as the population ages, other
trends-such as two-career households, smaller families and adult children
living far from their parents-are putting even more pressure on caregivers'
time and energy." What's more,
adult day care offers seniors the ability to socialize with their peers and
engage in activities that they might not otherwise have an opportunity to do.
The company will offer field trips, day care and entertainment
for seniors who either live in a senior facility or live at home but can't
drive. "[Seniors may be] stuck in a horrible environment with no means to
get out and no access to any culture or real entertainment, and perhaps their
children don't have the time to visit enough, let alone take them out for a
half-day each week to be entertained somewhere.
Finally, in all
cases, it would be advised to seek counsel on any business of interest. A good
place to start could be with your area Community College that often has a Small
Business Development Group. In Southwest Iowa that would be SWCC/SBDC and
IWCC/SBDC.