The baby boomers are a desirable market because of their unique needs. Their interests are totally unique from today’s generation. What this means for you as an entrepreneur is a wonderful opportunity to expand your business. This market can be extremely profitable if you know what they want, so take time to do your market research.
Many baby boomers out there are still working. Some are even in their peak years of earning and have large income they can spend. So, business opportunities will not entirely evolve around retirement. What you need to do is understand their behaviour and trends to think about profitable business opportunities.
To help you out, we listed some baby boomer business ideas you can try to earn money. So, let us get to know each below!
One of the baby boomer trends that you can look into is their eagerness to travel to places they have not seen before. They have this thought that they should see these places before they die or they are not able to. Seeing historical places and natural resources is what they usually like.
If you live in an area where there are historical places and natural tourist attractions, then becoming a baby boomer tour guide is a great business opportunity. You can also become their travel writer at the same time if you have the writing skills. They would love to document their trip for the world to know.
Having pets at home is not just a trend for the younger generation. Baby boomers love to have a furry family member with them, too! They love to sleep, eat, or play with their pets. Having a pet at home is simply healthy for our mental health. So, take this opportunity to sell pet foods and accessories. These are great products that appeal to baby boomers.
Aging parents is one of the many challenges baby boomers face daily. Baby boomers are already getting old as well, and taking care of their parents might be difficult for them. They would like to be informed of the options they can try to make this challenge easier for them.
They may start looking for people to hire to take care of their parents. This is an opportunity for you to start your own care business. You can become a senior care provider to help them out. You can also be a relocation specialist or consultant who will give them options of institutions offering senior care.
Baby boomers are also mindful of their body. They want to look and feel good. Therefore, they eat and live healthily. They may be over 50 years old, but they want to convince themselves that they are still younger. This way, they can think and live younger.
If you are a fitness enthusiast, this is a good business opportunity for you. You can become their fitness trainer to help them achieve their body goals. You can also be a retail store for baby boomer clothing. You can be their favourite place they want to visit to look good. This is a perfect baby boomer business if you love clothes.
For the love of anything they care about, baby boomers like to contribute to a cause. So, whether it is about nature, women empowerment, or animal care, they love to become a part of that cause. Therefore, you can organize your own event for a cause to attract baby boomers.
During the event, you can sell various items related to the cause. Or you can work with other entrepreneurs who sell these items and agree on your percentage for their sales.
If you do not want to be an event planner, you can also be a caterer for this type of event. You can serve food that boomers love and were trendy during their time.
Baby boomers love to share their experiences in life, especially their younger years. They want the newer generation to have an insight about what they do during their time. Therefore, this is a great business opportunity for you to become their blogger.
You can reach out to them and work with them to write about their experiences in life. You can also sell scrapbooks, so the baby boomer market can creatively express their experiences. They can keep their scrapbook and look at it from time to time to reminisce.
If you have the artistic skills to decorate and renovate a space, you can use that as a business opportunity. Baby boomers are keen to details of their homes’ infrastructure, and they want the best for their spaces. Make sure to study the interior design and renovation trends in their time as most of the baby boomers might want a classic, unique, elegant style.
Health-related concerns are common among the baby boomers. They simply want to spend many hours just relaxing because most of them easily get tired. So, why not offer them relaxation services through a spa. You can build your own spa in your area.
Although the younger generation can also be a good market for a spa, you can build something exclusive for the baby boomers. You can offer special services like a massage dedicated to the older people.
Baby boomers love to hear or engage in conversations about life. However, they also like to consult with a professional for some issues in their lives. Sometimes, they just want to talk to someone who will listen to them and give advice. This is where you come in. You can undergo training or study to become a life coach. Baby boomers would be your primary customers.
Many baby boomers do not want to feel old. They become physically active to make their joints and muscles more flexible. However, they want it in a way that they will enjoy, and that is through playing their favourite sports. Lawn tennis and badminton are some of the sports they love. So, create a business that sells sports equipment. Both young customers and baby boomers would love to visit your store.
These baby boomer business ideas are great opportunities to make money. They can be as simple as writing about experiences to designing their homes. Just make sure to choose the type of business that you are passionate about, so you will enjoy running it. So, take your pick from our list above and begin earning money!