Senior Biz

Are you ready to start your own business? Today's hottest market, seniors, is ready to buy. Trendy millennial and Generation Z consumers, move aside. There's a new consumer in town (well, not so new): senior citizens.

Yes, the demographic incorporating the baby boomers is still a force to be reckoned with. Here's what you need to know about starting a senior business.

Senior Statistics

Not all seniors are baby boomers—but this generation does hold a special place. Currently between 54 and 72 years old, the boomers make up a large proportion of the senior population. However, many are also taking care of their parents, creating an additional market for products and services.

Many baby boomers are quite affluent, making them an ideal market for small businesses. Overall, the spending power of baby boomers is expected to reach $15 trillion worldwide by the end of 2019.

By 2030, according to the U.S. Census Bureau's 2017 National Population Projections, all of the baby boomers will be older than 65. At this time, one out of five U.S. residents will be of retirement age, and by 2060, people aged 65 and over will make up almost one-fourth of the population.

In fact, senior citizens are projected to outnumber children by 2035, when there will be 78 million people 65 years or older compared to 76.4 million age 17 or younger.

By Rieva Lesonsky

15 Business Ideas for Senior Citizens

  • Online selling. With high spending power and little time, the enormous middle class is buying online. ...
  • Home care services. ...
  • Tuition services for kids. ...
  • Sell homemade food items. ...
  • Content writing. ...
  • Book writing/ blogging. ...
  • Florist and garden maintenance. ...
  • Property consultant. More items...

Effective for Global Trends

SeniorBiz.net is for sale!

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