Senior Service Business Trends

The baby boomers comprise a large portion of the market. According to Entrepreneur Media, by the year 2020, twenty five percent of people in the USA will be over the age of 65. As they age, the business opportunities in elderly care are expanding and are expected to increase. Although the number of in-home care and assisted living businesses are increasing, these are not the only areas of growth.

Many baby boomers are still active, and they want to keep it that way. Insightful entrepreneurs are looking at what this mature crowd wants, and they are creating anti-aging and health products to meet the needs of the market. There are also companies sprouting up that provide services like organized senior travel and tour groups, active health clubs for seniors and more.

Concierge services, bookkeepers and financial planners are also providing much-needed amenities to those who want assistance in making life easier as they grow older. Here are some of the business trends that we are seeing now.

In Home Care

Many seniors would prefer to remain in their homes than move to an assisted living facility. To meet this growing need, there are lots of in home care businesses and franchises starting up. Some home care services provide medical aid, but many other businesses offer a wide variety of non-medical care assistance instead. Some examples of non-medical care include bathing, grooming, meal preparation, transportation, companionship, chore services, housekeeping and more.

Seniors can continue to live in an environment that makes them happy, while family members can rest assured that they are receiving the care and attention they need. If this isn’t enough of a selling point, companies that offer multiple services are additionally attractive simply for the added convenience that they provide.

Money and Tax Services for Seniors

Bookkeepers, tax consultants and estate planners are also finding opportunities in the senior market. By offering their services to this specific niche market, these professionals can free retirees from having to manage complicated financial tasks themselves. At the same time, they can be helping them save money and spend their savings wisely.

Travel and Recreation for Seniors

Travel businesses that offer tours and vacations specifically for seniors are becoming more popular for aging travelers. Not only is the trip planning taken care of for customers, but the specialized travel service caters to the needs of seniors.

Although recreation for seniors is nothing new, a growing number of services are being offered, especially for those who want to live an active lifestyle. For example, a fairly new senior health club franchise called Club 50 is designed for people age 50 and over. In addition, more spas are offering services that seniors want, such as hydrotherapy services and cooking classes.

Whether you want to start a senior service business or you want to expand your current product or service offering to the senior market, there are opportunities to be had. Publications like Senior Citizens Magazine and Modern Senior Living Magazine can provide clues as to what the market wants. All you need to do is provide the solution.