Do you want to start a senior care business and look for investment opportunities in this sector? if yes you have landed at the right place. Here in this article, we provide a list of the most profitable eldercare business ideas one can start with little money.
The number of aged people is increasing around the globe. According to Statista, more than 20% of the US population will comprise senior adults above the age of 65 years. These statistics are a clear indicator that you can think of starting an eldercare business and earning good profits.
Eldercare businesses are of various kinds as elder citizens have multiple requirements that they cannot fulfill independently. Hence you can plan a business idea that will benefit the elders.
It is without saying, an important condition for achieving success in the eldercare business is that you have to be caring and understand the requirements of the elders. The only profit motive will not serve the purpose.
To grow up a successful eldercare business, you need to be trustworthy to the elders. Good service, salesmanship, and promptness are essential, but trust is vital for these kinds of businesses.
25 Eldercare Business Ideas
1. Assisted Living Facility
Many aged persons need assistance in their daily activities like bathing, dressing up, etc. Assisted living facilities are residential centers that provide 24×7 assistance to these persons along with other facilities like medication management, regular physical activities, services of doctors and nurses, and also recreational facilities. Starting an assisted living facility is a lucrative adult care business idea. You will need trained manpower, license, permits, and a good location with ample space for this business.
2. Independent Living Facility
Living in an independent living facility is preferred by many elder persons who prefer to live comfortably and luxuriously during old age. You can start an independent living facility and earn good profits.
Furthermore, make arrangements for comfortable apartments and different kinds of physical, recreational, and other activities for the elders. Here also you will need good manpower and round-clock supervision and emergency medical service arrangements. Websites and online and offline marketing will get you more clients.
3. Nursing Home
Nursing homes are for ailing seniors who need 24 hours of medical attention. You can open a nursing home specifically aimed at elders. It has a huge potential to give you a good income. You will need doctors, trained nurses, and caregivers to give proper service. Additionally, licenses and permits are also necessary. Good care along with strict monitoring is necessary. Local marketing and publicity are essential to growing the business.
Suggested Read: Profitable Nursing Business Ideas
4. Home Care Services
Home care services are required by many elders who live alone. You can start a service center from where you can send caregivers to the elder persons’ houses to look after them and take care of their daily necessities like getting groceries, preparing food, buying and giving medicines in time, etc. Personal network and local ads and publicity will help you to grow the business.
5. Gardening and Lawn Care
Gardening and lawn care services are profitable eldercare business ideas as the elders often cannot take care of their gardens and lawns. You can start the business in your capacity and gradually hire people as your business grows. Online and offline marketing and local campaigns and publicity will help you in getting more clients.
6. House Sitting
House sitting is a lucrative eldercare business idea as the elders need this service when they go out for vacations or other reasons. You can start a house-sitting agency and provide the service as and when needed. Trust is very important to get clients for this business. Hence local contact, referrals, and word of the mouth publicity are important for this business.
7. Pet Sitting
Many elders have pets who cannot accompany them while they go outstation. Hence pet sitting services can be a profitable eldercare-related business for you. This business calls for your sense of responsibility and love for pets. Online and offline marketing along with posters, banners, flyers, leaflets, etc will publicize your service and get you more clients.
8. Home Cleaning
Home cleaning for elders is a profitable eldercare business. This service is needed regularly which ensures a steady income for you. Non-toxic cleaners, good equipment, and efficient staff are needed for this business. You will need both online and offline marketing networks for this business.
9. Mobile Medical Facilities
Providing medical services as and when required is an essential service often needed by the elders. Hence mobile medical service is a great eldercare business idea. You will need a car, doctor, nurse, medicine, oxygen, and other things for this service. Website, local and digital ads are important for the growth of this business.
10. At-Home Medical Services
Providing medical check-up services at home is a profitable eldercare business idea. Many senior adults need this service regularly. You can start providing this service and get a good income regularly. Good contact with doctors, local networking, and publicity will give you more clients for this business.
11. Mobile Beauty Services
Start your mobile beauty service business and provide services like haircuts, hair styling and color, facials, manicure, pedicures, and other beauty services to the elders in their homes. This eldercare business idea is much-demanded and hence quite profitable. Hire skilled beauticians and use products of reputed brands. Well-planned marketing is important to growing your business.
12. Offer Technical Support
Elders are often not conversant with the technical details of different gadgets and equipment starting from the smartphone to using different appliances. You can provide regular technical assistance along with maintenance and troubleshooting to help them use this equipment for their benefit. This is an essential as well as profitable eldercare business idea.
13. Handyman Services
We all need handyman services, but the elders need them most as they are sometimes incapable of doing odd jobs. That is why handyman services is a very profitable eldercare business idea. You can provide this service of doing the jobs of errands for the seniors and get good payment. Local contact and publicity are important for the growth of your business.
Many elder people are fond of traveling but are afraid to venture on their own. Start a special tour operator service for the elders which will cover all the necessary bookings and tour arrangements along with attendants to accompany them. opening a travel and tourism company is a good eldercare business idea and can fetch comfortable profits. Websites, digital marketing, and publicity will get you more business.
15. Transport Service
Elders are often reluctant to drive a car or do not prefer to use their cars. For them, you can start a medical transport service. Provide them with drivers or cars according to their requirements and get a good income. You will need both drivers as well as well-maintained cars for this eldercare business idea. Good marketing and publicity are necessary for this business.
16. Personal Nutritionist
Elders with specific medical problems like diabetes or hypertension need to take special care of their daily diet which needs a specialist’s intervention. If you are a trained nutritionist, you can start a business of personal nutritionists for the elders. This is a lucrative eldercare business idea as this service has a good demand. A properly planned marketing and publicity of your services will help to grow the business.
17. Home Catering
Home catering is a good eldercare business idea as many elders do not want to prepare food for themselves regularly. Start your home catering service and serve healthy and tasty food regularly to the elders. Fresh food, good packaging, and prompt and punctual service are keys to success in any type of catering business. Personal contacts along with online and offline publicity are important for this business. Referrals will also get you more clients.
18. Relocation Service
Relocation is a big headache for the elders due to their old age and incapability. Hence a relocation service is a great eldercare business idea for you. In this business, you have to take care of transportation of all the belongings as well as setting up the new place as per the wish and convenience of the elder person. Website, digital marketing, and local publicity are important for this business.
19. Investment Assistance
Elders are often not conversant with modern methods and forms of investment. If you are a skilled and experienced investment consultant, you can start an investment assistance service for the elders. This is one of the most profitable eldercare business ideas for people having financial knowledge.
However, you have to explain the terms and conditions of each investment plan to your client and win his/her trust. It is without saying, personal contacts will help you in getting more clients for this business.
20. Manufacturing Senior Aids like Wheelchair or Walker
If you are interested in a manufacturing business, you can start manufacturing different kinds of aids for the elders. These include things like wheelchairs, hearing aids, walking sticks, walkers, etc. This is a lucrative eldercare business idea as a great number of senior adults need these aids. Well-planned marketing and sales network are necessary for the success of this business.
21. Day Care Services
Daycare services for the elders take care of them throughout the day. This includes their food, medication, physical activities, entertainment, and medical attention as and when required. This is one of the most profitable eldercare business ideas. It s without saying, once you earn a good reputation, you will get more clients.
22. Property Consultant/Estate Management
Elders with property or funds are often worried about their distribution after their demise, or medical care in case of their disability. If you have a legal background and experience, you can start the business as a property consultant or estate manager for the elders. Here you will give them proper suggestions and make legal arrangements for the disposal of the estate or medical care instructions.
23. Fitness Classes
Giving fitness lessons to the elders is a good eldercare-related business as the elders need specific physical activities to stay fit. If you are a trained fitness expert, you can start giving fitness classes to the elders in the comfort of their homes. Good marketing and publicity along with networking are necessary for the success of any fitness-related business.
24. Health Insurance Claims Assistance
Elders often have a tough time getting their health insurance claims. If you are an insurance expert, you can start a health insurance claims consultancy business wherein you will help the elders in all possible ways to get their claims without any trouble or hassle. Good networking and strategic marketing are necessary for this business.
25. Companionship and Counseling
Many of the elders live lonely life. You can give them companionship along with counseling services to make them feel better and live happily. Training in counseling is necessary for this eldercare business. This business will give you a good income. Online and offline marketing and social media publicity are important for this business.
The growing number of elders need assistance and aid of various kinds. If you have good intentions, understanding, and compassion you can earn good profit from an eldercare business.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their business. Our aim is to educate the entrepreneur on the various stages of entrepreneurship.