The baby boomer market is one full of earning potentials and highly desirable. You simply need to understand what baby boomers want and you will shoot up your income massively.
Unlike popular belief, there are a considerable number of unretired baby boomers. Even better, are baby boomers at the peak of their earning years and have comparatively large discretionary incomes to spend.
There are trends in baby boomer behavior you should learn along with how you can profit with these business ideas for services and products baby boomers would buy. You can capitalize on these boomer attitudes to create your own small business.
1. Pet Walking
Our kids are smaller and furrier than they used to be. Pets like cats and dogs have been upgraded to treasured members of the family in many homes. If you missed this, you probably have been staying abroad.
Baby boomer pets now sleep, eat, and do a lot of things with normal people. They are taken as just pets anymore. They get dressed, watch TV, receive their own guests, and doctors. They turned into a multimillion-dollar industry.
Dog walking, for instance, is a profound small business idea that would resonate with the boomers in view.
2. Taxi Services
“I Have to Do It or See It Before It’s Gone.” One trend with the big boomers is the compulsion to do it or see it before it cannot be done or seen anymore. The Great Barrier Reef, the Great Wall of China, Venice – boomers often feel they need to live lifestyles, visit places, and species that are going away, and particularly have these experiences for themselves.
A few environmental concerns such as global warming, appear to have escalated the feelings. Visiting Antarctica or seeing spirit bears or polar in their nature, for instance, a top-rated on the list of the “must-see”
Boomers who are having a tough time getting out can leverage taxi services that would pick and drop them on their outings. They may also need to visit the veterinarian for their pets, get things from the grocery store, do a medical checkup, dry clean, and several others. Have a business card you’ll be leaving behind with your clients when providing this service.
3. Organize Special Events
Baby boomers want that good feeling and that can be gotten through making a contribution to a cause – especially a popular one.
Some circles appear to have a cause-upmanship operating; the more causes one can support visibly, the better. You may want to consider espousing your own cause and launching your own events.
4. Adult Day Care
We need help with our aged parents. Remember that the generation of the baby boomer is so large that it covers different aspects of life events. Those who are currently or likely to deal with aged parents soon are part of larger subsets of the boomer demographic.
A lot of baby boomers do not feel they have the capacity to deal with the challenges of their parents all alone. They are looking for alternative measures to handle such a situation. For instance, they want to hire people to help with specific situations such as home care, or relocating an elderly parent to new quarters.
So, if you love taking care of elderly people, then you may want to start an adult day service business. Baby boomer kids will be glad to hire your services.
5. Magazines Or Publication For Sharing Experiences
Boomers have experiences they share, they do not just do things. They want to share their experiences – whether for worse or good. They are confident in the need to tell others about personal stories. And this could be done via blogging, videoing, or taping about it. They could even hire other people to tell their stories for them.
Boomers used to be the original audiences in talk shows and now, they have wider opportunities through the internet to achieve their wish to get what they want and share it.
As a creative editor or writer, you can earn real good by having your magazine specially designed for retirees, seniors, and baby boomers.
6. Fitness Business
Boomers take their health very seriously. This may be because they see maintaining sound health as a way of maintaining a younger look or feeling. And even though they have surpassed the golden age, they do not want to admit to being middle-aged, not to talk of ‘senior.’
So, one thing you can easily see them involved in is to dress in fitness gear as much as possible. Fitness programs and health clubs see a spike in the number of baby boomers often because of the consciousness of their health. In fact, they also live to get involved in different sports activities to help them stay mentally young.
Consider a fitness club and offer fitness and health programs. If you have free spaces around your house, why not start there to save some costs?
7. Medical Service
As a healthcare worker, you can provide extra services to seniors for additional income. The boomers often want to know the state of their health, so, you’ll need to do constant health checkups for them and offer them valuable advice on how they can stay healthy.
8. All-inclusive Service
Haven’t you seen boomers flock a lot to the same place and do similar things together? Having an all-inclusive resort especially in areas where boomers are in their large number may be a pretty good small business idea to consider.
9. Investment Adviser
Baby boomers are not like the previous generation that prioritizes self-reliance – boomers would rather engage the service of professionals. As an investment Adviser, you can provide services to these fixed-income earning categories to help them make every dollar count.
You can come up with workable ideas and strategies that can help them make the best of their retirement earnings, their pensions, 401k, IRA, and Social Security payments. To start this business, you must have good knowledge of finance and investment matters. In fact, being a Certified Financial Planner will increase your credibility before your potential clients.
10. Online Dating Services
There is an increasing number of tech-savvy baby boomers. They spend a good amount of time online, and most times on dating sites – meeting new friends and in fact, interacting more with the opposite sex.
It is no surprise why the boomer generation craves companionship, especially companionship from remote areas. So, if you can, you may want to set up a dating site or online community for retirees, seniors, and baby boomers.
11. Computer Training
While approaching retirement, boomers enjoy freer time to spend on the internet and their computers. So, you can start a business that can help them build knowledge of basic computer tasks.
For instance, your business may want to put them through with sending emails, surfing the internet, and also preparing presentations and Word documents. You may want to organize a free seminar to capture your potential clients. It is however important that you practice lots of patience with this group, as you will be interacting largely with total novices who additionally have tired brains.
12. Errand Service
Boomers often need someone that can help out with errands and domestic chores. So, you can start a business in this area. You do not need any special skill to get started in this regard, however, you would need people to work with you as the business grows.
13. Property Maintenance Service
Since age is evidently telling on baby boomers, they may not have the strength to manage their properties as before. You provide a wide range of services in this regard. For instance, you can offer petty repairs, lawn mowing, home cleaning, and gardening among others.
For those who travel often, you can help them take care of their properties when they are away. You can capture potential clients through seminars and home repair clinics at garden stores and local homes.