The baby boomer market is an extremely desirable market because of its sheer size. While niche marketing is almost a rule for small business success, it makes sense, too, to try and target a niche as large and moneyed as possible – and the huge baby boomer market is full of niche opportunities that can be extremely profitable.
Contrary to popular belief, there are a great many baby boomers that are not retired. Even better, many baby boomers are at the peak of their earning years and have comparatively large discretionary incomes to spend.
Read on to learn about trends in baby boomer behavior, and, more importantly, how you can profit from them with these small business ideas for products and/or services that appeal to the boomer market.
These are the boomer attitudes that you can capitalize on by creating your own small business:
1) I have to see it or do it before it’s gone.
One of the big boomer trends is the compulsion to see it/do it before it can’t be seen or done anymore.
The Great Wall, the Great Barrier Reef, Venice – boomers feel a need to visit places, species and lifestyles that are vanishing and experience them for themselves.
Environmental concerns, such as global warming, seem to have exacerbated these feelings. Seeing polar or spirit bears in their natural environment or visiting Antarctica, for example, are high on the “must-see” list.
Related Small Business Ideas
- Specialty tour provider
- “Eco-experience” provider
- Travel experience website or blog
2) Our kids are smaller and furrier than they used to be.
I think you have to have been living abroad to have missed this trend. Dogs and cats aren’t just pets any more; they’re treasured members of the family.
Remember the old days when dogs slept in dog houses? Not in boomer households. Baby boomer pets eat, sleep and do things with their people. They watch TV; they get dressed up; they have their own friends and their own doctors. They are a multimillion dollar industry!
