If you’re trying to decide on a Franchising startup, you may want to consider focusing a business model aimed at baby boomers. Fitness centers, spas, senior care services and coffee shops are among the leading franchises. If you are an entrepreneur that is industry agnostic and just want to make money then consider the fact that a baby boomer retires every 16 seconds, talk about a built-in customer base. Even homebuilders have catered their inventories to Boomers to help insulate against the busted real estate market.
A quick look at the demographic trends shows why senior service franchises are so popular. By 2010, one in five Americans will be considered “senior,” and the number of Americans over the age of 65 will grow to 53 million by 2020. Moreover, average life expectancy has increased 15 years since the Social Security system was established in the 1930s.
Franchising comprises 10% of the private sector in the United States and will continue to blow full steam ahead in the boomer demographic. Be sure your business plan reflects the appropriate geography for the boomer demographic. Destinations like Fort Collins, CO and numerous cities in North Carolina have enjoyed steady growth.
Be sure to take a look at the top 10 investments to capture the baby boomer demographic as well.