It’s no secret that the economy continues to struggle to recover from the Great Recession of the last several years. Many feel it’s a dangerous time to start a business of their own due to the economic climate, but if you look for businesses and industries that cater more to “essential needs,” your chance of business success should increase.
Here are four targets to keep in mind as you explore business ownership.
Baby Boomers Are Living Longer: The largest generation in our country’s history is retiring, but they’re living longer and looking for products and services that they can use. As these boomers age, many are choosing to stay in their homes as long as possible rather than move to an assisted-living facility or in with their adult children. Businesses that cater to home healthcare services or that help seniors live safely in their homes through home modifications should do well. Common modifications include automatic door openers, ramps, safety bars, bathroom transfer systems, stair lifts, and specialized tubs/showers. (more…)