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Elderly Care Continues To Be Boon For New Business

Discussion in 'Planning Your Business' started by T J Tutor, Apr 16, 2016.

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  1. T J Tutor

    T J Tutor Entrepreneur

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    Are any of you currently in this field of elderly care. I've been looking into it for a new lead gen addition to my content marketing. It's flourishing incredibly well with awesome growth. Just wondering if we have any business people here in the niche or having some experience with it.
     
    VirtualGlobalPhone likes this.

  2. Corazon

    Corazon Entrepreneur

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    From what I had read, the longevity in the whole world is increasing in number. The ill effect is the caring for the elderly aside from the pension that the government is providing. In my younger days, the term nursing home is not coined yet but now there are lots of nursing homes in the Philippines which was unthinkable then. Filipinos have the tendency to care for their aging parents and grandparents so nursing home is not an option. But now nursing homes abound and I'd say it's a pretty good growing industry.

    PS. We submitted my mother to a nursing home 5 years ago. But when she was hit by a stroke, my sister took her and is now caring for her. But we also hired 2 caregivers to take care of my mother in my sister's house because she is already wheelchair-bound.
     
  3. azgold

    azgold Moderator Entrepreneur

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    Baby Boomers are the largest segment of the population here in Canada, so those types of facilities are going up everywhere. Not sure what they'll do with all the buildings after we're all dead but I'm sure they'll figure something out. :)

    My daughters are both PSWs, one who is certified to work with seniors; the other works with adults with mental challenges. What I've heard from both of them is horror stories of how clients are abused - physically, mentally and financially - in these facilities and how whistle blowers are shunned and punished.

    Some people are in the wrong profession and should go elsewhere. These people can't defend themselves and people who try to intervene are ostracized, with work becoming a living hell.

    If someone opens a facility or two where seniors are treated with respect and good practical care (do not leave them in the same diaper all day; do not leave them in one position all day to get bed sores; do speak to them like they're human beings; do dress them and brush their teeth, etc.), I think it would end up with a long waiting list of people wanting their elderly loved ones to get a spot.

    As it is around here, there are wait times even for the bad facilities, at least until the places being built are finished.

    Okay, I'll stop ranting now. It just really bothers me that these people are often treated so badly.
     
    T J Tutor likes this.
  4. T J Tutor

    T J Tutor Entrepreneur

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    This is rampant in many countries. We have some serious issues to resolve to look after the elderly.
     
    azgold likes this.
  5. azgold

    azgold Moderator Entrepreneur

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    Unfortunately, it largely goes unchecked here. Both of my girls have lodged complaints and things got bad for them after that. Not much of an official investigation took place, except of one of my daughters because she was considered a troublemaker for stirring things up with a complaint. Absolutely no corrective action was taken and my daughter had to quit, the resulting workplace stress was awful. I felt bad for her, caring for the elderly is a passion for her, what she believes she was born to do, she loves the old folks.

    My dad said he'd rather die than go into one of those places. I can understand why. Hence, I do stuff for him that he can no longer do for himself. I don't really want him to have to go into one, either.

    I really hope that if one of our entrepreneurs is considering opening an elder care facility, they offer kind, dignified, respectful care. I don't think it's too much to ask. It's the equivalent of exceptional customer service.
     
    T J Tutor likes this.
  6. VirtualGlobalPhone

    VirtualGlobalPhone Moderator Entrepreneur

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    @T J Tutor , this is something we are supporting with our services to customers and partners. Due to certain restriction we may not be able to share the brands but some of customers in Japan, SG, HK, Germany, UK, Canada , USA to name a few have started touching the base. This market is indeed still in early stage.

    One of the challenges is to get the workforce really loving the 'job' of 'elder care'. Some of the hospitals have started this as a side brand, success is yet to be seen. As taking care of 'elders' is like taking care of 'new born child'. Because it involves more 'soul' work than 'hard work' takers are few.

    I am sure with more time passing by and elders increasing this challenges will also be milked by many.
     
    azgold likes this.
  7. azgold

    azgold Moderator Entrepreneur

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    I'm sure you are right.
     
  8. Xerxes

    Xerxes Entrepreneur

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    I'm not currently into it nor I have plans for this market but, certainly, Baby Boomers represent the bulk in this demographic, and the current advances in technology bring plenty of opportunities. Autonomous cars, housing equipped with Programmable Logic Computer etc. All kinds of devices can be adapted to bring comfort to the elderly. There is also a niche for retirement plans, although that's more related to bank's business.
     
  9. FreelancingQueen

    FreelancingQueen Entrepreneur

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    My area needs a lot of work when it comes to caring for the elderly. Sadly, many elderly people are tossed aside and left to feel like they do not matter. We have nursing homes, senior citizen centers and adult day care centers, however, I have seen and heard about the poor treatment that many elderly people have received at all of these establishments.
     
    azgold and VirtualGlobalPhone like this.
  10. darkrebelchild

    darkrebelchild Entrepreneur

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    Elderly care is one business I would love to get involved with in the future. The most important reason is that I like caring for elderly people and love spending time with them just as much as I love children. It would be nice to have them in a place where they can relate, relax and feel accepted; not spending it all alone all day when the family is gone for the day.
     
    azgold and VirtualGlobalPhone like this.
  11. azgold

    azgold Moderator Entrepreneur

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    The only downside to all the automation is that the elderly have trouble dealing with it. My 82 year old dad can't turn on a computer and doesn't know what to call texting. Right now, he's having trouble with his satellite TV and has calls into my brother to fix it because he can't fathom what to do. A fully automated house could be a problem but if they have someone to contact and help if there's a problem, that could put their minds at ease.
     
    VirtualGlobalPhone likes this.
  12. azgold

    azgold Moderator Entrepreneur

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    I have often wondered if caregivers of the elderly have considered that they will be the ones in those places one day.
     
  13. azgold

    azgold Moderator Entrepreneur

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    Perfect! I hope you are able to do this one day. :)
     
  14. T J Tutor

    T J Tutor Entrepreneur

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    If we each start our own elderly care facility, then we'll have a spot reserved for ourselves. Maybe I better get started on this today :D.
     
    azgold and VirtualGlobalPhone like this.

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