There are not many businesses running in the market to serve elderly people. Hardly a few. You can make use of this situation and start your business in this field. As already mentioned, since the count of firms serving senior citizens is just a few, demand for this service outweighs the supply.
Before taking any decision, focus on the type of business which will give you maximum profits without a lot of expenditure. Choose to invest in a business for which the resources are already available.
Some of the elder care businesses with higher grades of profits are listed below. You can choose one among them considering your interest and financial strength. Let us know if you choose one that is listed below!
10 profitable elderly care businesses are as follows:-
1. Mobile Salon
It is important for anybody to stay neat and groomed and more so for the elderly. The inability of elderly people to move around, stops them from getting some essential services they need.
You can be a game changer by providing this unique service to elderly people.
All you need is a comfortable and suitable vehicle with salon essentials like scissors, mirrors and combs etc.
You will need a professional hairdresser, beautician or a pedicurist who may be unemployed in the Corona times with you.
This crew comes together to visit an old people’s home or homes of the elderly with appointments once a week can take your business to heights turning your investment into profits in just a few days.
The dire lack of services like this creates a high demand for such service that will always take it to the next level, and mobile salon is no different from this rule.
2. In-Home Care Services
The busy world today has made a huge difference in people’s lifestyle. Elderly people have no special help at home. Senior citizens have thus created an opportunity for new businesses and hence take note of what they need in the absence of all other members of the household gone to work or engaged leaving them helpless on their own to fend for themselves.
With an agency of a few staff that aren’t skilled, but are good at washing, cleaning and other domestic or household work like cooking a meal you can help a lot.
Once you have got the crew ready, you can advertise your concern for these in-home services. When you are set up, you could be sending your workers to the place where they are needed to serve the senior citizens.
3. Non-Emergency Senior Citizen Transportation Services
Of all the necessary things a senior citizen has to have in life, transportation takes the most important place. But since corona lockdown with no buses available or cabs demanding high fares, transportation has become a very rare occurrence in elderly people’s lives. They can’t even go to a dentist or a bank like they used to go.
You can create your own transport firm starting with one such vehicle like a minibus and workers providing transport services to seniors collectively and drop them off and bring them back from various places when they are ready.
There are two categories in senior transportation business:
- Personal transportation
- Medical transportation
The choice is yours, you can engage in medical transportation if you have the necessary medical equipment like an oxygen cylinder or a first aid box or take up personal transportation during their leisure time.
Personal transportation will include taking them to trips, or places of their personal interest. This business can earn you a good pay especially when your target segment is financially rich families. A person of middle class or below the poverty line will not be able to afford these services.
But imagine someone having a lot of money in their bank accounts and cannot go to get their pension or a restaurant to eat well.
Your services can make a big difference to them and your crew if they were unemployed with children waiting at home to feed them.
So be creative and think of filling the gaps wherever you can.
4. E-commerce Store for Seniors
Like all the other websites for shopping, senior citizens too deserve a website to shop their essentials. The need for creating a special business website here is that not all the websites supply essentials for the elderly. You can create one providing all the essentials for them at one place.
An elderly man is dying of cancer in terminal stages and there is no one to help him to bring him some special turmeric to save him.
He has a car but can’t drive it to go to a bank to get his money. If someone was there with a swipe machine, he could pay Amazon to ship it from the States.
He doesn’t know how to pay or shop on Amazon. So he can’t get help at his final moments even though he has money and a car etc.
Your chances of playing a monopoly business is high and the prices can also be higher due to lack of supply in the market.
5. Home Health Care Services
This is a business which runs with skilled people. You will have to procure medical nurses or equipment in order to carry out this business.
Skilled nurses can bathe an old man or woman who cannot even go to the toilet on their own.A visit once or twice a day can be a blessing for them to prolong their lives.
Since this business is something which is related to medical care, maximum attention should be given to the quality of the service.
Giving them medicines they need, getting them to the hospital for a check up, the list can be endless.
Elderly people who require medical assistance or care at home are benefited by your business.
The nurses verified and registered in your firm will be sent to the client’s place for special care. You can charge your client on a monthly basis.
This business can be just like a home care business but the assistance is by trained and experienced nurses.
This sector will come next to hospitals like a post covid business taking care of the patients when they are sent home due to no beds available for a longer period.
Contact those who are being discharged from the hospital but still weak and unable to take care of themselves at home during the post treatment period.
Make sure you select only certified and experienced nurses to run your business.
6. Food Truck Serving Seniors
This business is as simple as a moving restaurant. Own a truck, make it a cook station and start serving food around your locality. You can work with an NGO or a government body serving elderly people or supply meals on your own to those who cannot get out and go to a restaurant.
A hot meal on wheels would give a new life to a senior person who cannot shop or cook.
7. Relocation Services
This service is similar to helping individuals in packing and moving for house relocation. The difference is that here you will have to take up the entire responsibility in serving the elderly people. Your clients will be the ones who do not have anybody to assist them in relocation. When these people approach you, you will have to take care of all the work included in shifting.
It starts from packing the items from the previous house and shifting to the new house. The last part will be making the new house ready for living and for this you might have to cover all the work from getting a milkman till paying the electricity bill. The income you earn is generally high because the service is of high level engagement. Have enough workers to do the errands to serve your clients better.
8. Wheelchair Manufacturing
Invest your money in wheelchair and walking equipment manufacturing and contact NGOs or Hospitals to supply these.
You can profit in bulk since a number of orders will come from hospitals. Even if you don’t have enough contacts to sell your manufactured wheelchairs, you have opportunities to use them for events where people rent your wheelchairs.
Another option is to sell them on social media or websites which have a special category for health care devices.
9. Alarms and GPS Enabled Equipment Manufacturing
A new technique to give maximum attention to elderly people is the use of technologically advanced devices. You can manufacture a hand held device with an alarm, GPS and torch which will be used to locate seniors. Same works with GPS, where senior citizens are tracked if they go missing. This business is purely based on the specification of your client if they are victims of amnesia.
10. Senior Tourism
If you are good enough in organising events and trips, you can very well start this business. Plan small trips and tours for aged people with the maximum of facilities which you can offer them.
The level of comfort and food you provide your clients is what makes them come back to you frequently.
This can be taken as a seasonal business since the trips are not planned on all the days of the year like the rainy season.
You can make use of membership concepts to have a regular income.
A senior tourism club with a hundred people signed up to go in different groups is all you need to pay your expenses and salaries.