A home service business for seniors can be very rewarding.
You can assist seniors and become part of a business boom by starting a home service business for seniors. According to Jacquelyn Lynn and Charlene Davis, authors of "Start Your Own Senior Services Business," the elderly population is increasing at nearly twice the rate of the general population. The 85-plus segment will swell to more than 33 percent by 2010. Overall, seniors' calculated spending power will eventually exceed $1 trillion, according to 2010 estimates by "Entrepreneur" magazine.
Instructions
1. What types of services will you provide?
Decide what specific home services you will provide. If you're looking to tap into a multibillion-dollar industry, home services offer many different options. Ranging from cleaning and restoration to in-home elderly care, the choices are endless. Other profitable home services for seniors include running errands, providing transportation and offering at-home health services.
2. A business plan will help analyze costs.
Write a detailed business plan. Software programs can help you write a detailed plan to help determine your costs and analyze what you need to be successful. According to Tim Berry, author of the business book "Hurdle: The Book on Business Planning," the fact that you recognize you need a business plan means you are smart enough and well-informed enough to realize that building a plan is a vital part to starting a business.
3. A home service in New Mexico delivers flowers to seniors with their meals.
Come up with a theme. Don't try to be all things to all seniors. Carve out a niche market. Ladera Home Services teamed up with Nesbitts Flowers in Albuquerque, New Mexico, to provide flowers once a week with meals they deliver to seniors. "Our seniors love the flowers," said Carol Baker, accounting supervisor for Ladera Home Services. "It doesn't cost us a lot (Nesbitts Flowers provides a discount for the service) and it makes our seniors so happy." Ladera Homes Services is so pleased with the flowers their clients receive they've been sending sympathy flowers to family members when some of their clients pass on. "Families are so touched that we care that much, but we really get attached to our seniors," said Baker. Think of ways you can add something special to your services to seniors.
4. Seniors don't like giving up their freedom.
Create a business that allows seniors to retain their independence. Seniors don't enjoy giving up their freedom. Running a business that allows them to stay in their family home and remain independent can mean money for you---and it means the world to seniors.
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