America is experiencing yet another boom regarding one of the largest living generations: an unprecedented market for businesses that cater to baby boomers. Here are some insights to consider if you are looking for an incredible business opportunity that can bring great professional and personal fulfillment.
The baby boomer segment is vital to the economy, partly due to its sheer size. With a population currently at 73 million, all baby boomers will be age 65 or older by 2030. The growth of this demographic will drive the already substantial senior care market to an estimated $225 billion within the next three years.
While finding a niche segment is a sensible approach for achieving success in business, it makes sense to target a niche as large and financially secure as the baby boomer generation. The key is in catering to the specific needs and desires of this varied demographic. As the wealthiest, most active generation, baby boomers have disposable income to support their pursuits and maintain their lifestyle. Thanks to health and technological advancements, this demographic is expected to live longer than previous generations. Higher life expectancies for boomers allows them a chance to fully enjoy their golden years. This also clever entrepreneurs the opportunity to provide them with the services they want and need. A franchise like Caring Transitions strikes the perfect balance between tapping into an underserved segment of the population while providing potentially lucrative business opportunities for entrepreneurs.
Baby boomers are a unique generation enjoying their senior years in an age with limitless possibility. Businesses that can provide them with both security and opportunity will thrive. Here are a few of the businesses that can be tailored toward baby boomers:
BUCKET LIST EXPERIENCE. Baby boomers crave the experience of visiting (or revisiting) remarkable places. Environmental concerns such as climate change have amplified these desires. The Great Barrier Reef, endangered species in Asia and Africa, and cruise expeditions to previously unvisited locales are high on the list of must-see experiences. A business in the travel industry would be a great opportunity to provide seniors with custom trip itineraries that would allow this segment to fulfill their travel dreams.
OUTSOURCING EVERYTHING. Previous generations put a much higher premium on self-reliance than boomers.. Having experienced a revolution in technological advancement, baby boomers can appreciate the opportunity to invite outside experts to take the reins, whether it’s with personal training, financial planning, moving/relocating or home care. Caring Transitions is a favorite outsource go-to for seniors who are looking to downsize, relocate, or declutter.
RELOCATION & HOME SERVICES. Baby boomers were born from 1946 to 1964, so their health and safety needs are varied and changing. While full-time nursing or home care is required for some, many individuals simply require help with tasks around the house like gutter cleaning or finding new homes for possessions that no longer are needed.
Caring Transitionstrained franchisees can handle everything from sorting belongings, decluttering current homes, managing estate sales, packing, and relocation to a space safe for aging in place.
A FRANCHISE THAT MAKES A DIFFERENCE
Many younger boomers, who have aging parents, feel ill-equipped to deal with their parents’ needs on their own. They often need assistance with specific issues such as home care or relocation services. Caring Transitions presents a promising opportunity for both prospective franchise owners and seniors in search of a service that attends to a full range of home management and relocation needs.
CONSIDER CARING TRANSITIONS
Caring Transitions was founded in 2006 as a solution to the challenge of handling the relocation, right-sizing, and home management for seniors with care and professionalism. Caring Transitions is proud to offer services to individuals and families who are making life changing transitions.
Caring Transitions is the nation’s foremost all-in-one source for professional household management services, with franchisees qualified to meet a broad range of needs from simple decluttering, relocation, downsizing, estate management and more, all with the goal of facilitating the most seamless transition possible, regardless of the project size.
Ranked the No. 1 senior relocation franchise by Entrepreneur five years in a row, Caring Transitions stands at the front of the baby boomer business industry, providing prospective franchise owners with the name and reputation of an essential brand.
If you are in the market to start a business that appeals to the boomer generation, Caring Transitions offers the opportunity to invest in a recession-resistant concept that is both professionally and personally rewarding.
Find out what steps you need to take to become a Caring Transitions franchise owner and fill out the form at the bottom of the page to start a conversation with a Franchise Director.
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