BABY BOOMER NICHE CREATES UNBELIEVABLE OPPORTUNITY FOR CARE HOMES AND GROUP HOMES
This lady needs an affordable place to live! Why? Because she can no longer afford her apartment and miscellaneous costs which average over $2,000 per month.
And this is just one of the HUGE OPPORTUNITIES popping up in the marketplace due to older adults living longer lives and demanding new products and services across multiple sectors. Moreover, the statistics say it all: over 70 Million baby boomers are entering retirement between now and 2030 and this market is literally exploding with opportunity.
Businesses out there are capitalizing on this huge niche, as a result, it is expected to be a 7.6 Trillion industry and one which will grow by 58% over the next 20 years by changing what they are doing. For example:
- Diamond Foods is re-engineering their snack food cans to make them easier to hold for the aging population.
- Arm and Hammer (the baking soda company) is re-doing their labeling to make it easier to see.
- Walgreens is starting to put magnifying glasses in aisles so that the elderly can better read the fine print.
- CVS is putting carpet in all of their stores to reduce slipping. Additionally, they are lowering their shelf height from roughly 72 inches to 60 inches.
WHAT DO YOU PLAN TO DO TO CAPITALIZE ON THIS HUGE NICHE???
Although there are literally thousands of ideas out there which could provide you with a nice income stream selling into the elderly care space, we are firm believers in Maslow’s hierarchy of needs.
In this case, why not get rich by helping those with the most basic physiological needs – like food and shelter? This is a huge opportunity that you can literally start for a few thousand dollars rather than the hundreds of thousands of even millions that the foregoing companies will spend in their attempt to serve the baby boomer population.
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So how do you start a group home or care home for the elderly and actually make money with it?
For one thing, It is a simple business which does not cost much to get started. And best of all, there is a huge demand for it! Start by reading and educating yourself on the space. Then, go out and rent or buy a property, furnish the home, put some marketing brochures and collateral in place and start collecting rent! Obviously, we are simplifying it, but those are the nuts and bolts of the business!
If you are looking for additional information on how to start a group home, halfway home, transitional living home, sober home, foster home, ICF/MR home, DADS Home or other type of care home for people with disabilities; check out our free course on starting your very own income-generating group home by clicking here or going to www.grouphomeriches.com and clicking on the free wealth building course.
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