Make money with a senior concierge service

Make money with a senior concierge service

As a property manager my only duties were to collect rent, maintain the property, and control each property’s budget. Although, those were my only job responsibilities, I still received request from my senior residents, to do other services such as helping pay their bills, schedule appointments, etc. One day I was thinking to myself, if only I could charge for all of the extra services I do to help out my senior residents, I would make a killing. It was then that I realized that there is a great need for senior concierge services.

Seniors need a concierge service in order to complete the tasks that they are unable to do. Most seniors are on their own. Either their families have abandoned them or their families are too busy to help them with the things that they need to get done.

Making money with a senior concierge business is easy as pie. It requires little overhead cost and can be operated from the comfort of your home. The only supplies you need to run a successful, money making concierge service are a cell phone, a reliable vehicle, and a computer to generate invoices and client list. Most people already have these items. If you do have these items, then lucky you. You can start today!

 

Identify Target Market

To make money with your senior concierge service you must identify your target market. The target market for your business are baby boomers. Baby boomers are people born between 1946 and 1964. Finding your target market should be fairly easy due to various senior communities. You can find potential customers in senior apartment complexes, adult daycares, and retirement communities.

Services

As for services, the good thing about having your own concierge business is that you decide which services you want to provide. There are a bunch of services that seniors need. Most seniors suffer from sicknesses and disabilities which makes it hard for them to do even the simplest of task.

I remember when I worked as a property manager I would be asked by residents to do smallest of task like making doctor’s appointments and writing out checks for their bills. Those are two examples of small services that you can do and make money from. Some seniors are wheel chair bound and need various errands run for them such as grocery shopping, picking up medication, or dry cleaning. These are services that you can do and charge by the hour, plus gas mileage.

Marketing

Marketing for a senior concierge service is a little different than typical marketing. Typical marketing involves building a website, promoting services on social media sites and maybe even email marketing. For obvious reasons, these marketing techniques may not work. Seniors are not that technologically savvy.

A better marketing strategy for your service would be to provide printed materials to potential clients. Also, seniors respond well to phone calls and face to face marketing of services. Also, you want to market your services to their caregivers. Some seniors do not make decisions on their own due to forgetfulness and illnesses such as dementia.  Since most people work full time jobs, taking care of elderly family members can be a burden. Therefore, those family members will be more inclined to enlist your services.

Pricing

Now we get to the most important part of setting up your senior concierge service… PRICING! In order to make money you have to have competitive pricing. For your concierge services you can charge be $20 to $30 per hour. Also, you can charge for the mileage that you use between the person’s home and the destination when you go on errands for them. It may seem like a lot but in actuality the prices listed above are very reasonable.

 

Bio:

Romona Bradham is the owner of Monasez.com. She is a blogger and fiction writer whose work has been featured on various sites, including the examiner.com. Romona is passionate about helping young adults achieve finance, career, and life goals. You can reach Romona at Twitter, Google +, and info@monasez.com.

 

This post was featured on the Monasez, Financial Carnival for Young Adults, Festival of Frugality, Yakezie Carnival, thank you!


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A 30 something French girl looking for ways to make more money. I blog about real estate, side hustles, improving your career, investing and making money online.

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Comments

  1. Congratulations for identifying a niche and filling a need. Out of interest, have you found that you are now less willing to help out with small tasks that only take a few minutes because you can’t exactly charge someone for opening a single jar or writing an address on a single envelope?
    Financial Independence recently posted…Motif Investing ReviewMy Profile

    • Small task such as the ones you mentioned, I don’t mind taking time out of my day to do. Anyone who has ever worked with seniors before, knows that one simple task such as opening a letter can turn into an hour task. This is because sometimes their lonely or bored and need someone to talk to. So they look for any reason to have some kind of conversation or interaction during the day. The hard thing is that when your a property manager and you’re managing hundreds of units, there’s no time in the day to sit with someone and have a conversation. So I don’t mind doing the task, it’s getting them out my office that’s the hard part. lol
      Romona @Monasez recently posted…Saved $100 on my Phone Bill with just one phone callMy Profile

  2. First to answer Fin Independence comment, I think you’d be more willing to do those simple tasks for the seniors since they might pan out to business in future. Consider it part of your marketing :)
    Secondly, I actually think its a good idea, well, it might take some time figuring out all the viable services you can offer but with time you can make something out of it.
    Simon @ Modest Money recently posted…Personal Capital Review – Taking Investing To The Next LevelMy Profile

    • thats a good point I hadn’t considered Simon. I was thinking more along the lines of “if I do this for free, everyone will want it free” but you are right that its a good opportunity to show the standard of your service and potentially pick up a new client.
      Financial Independence recently posted…Motif Investing ReviewMy Profile

    • Your right Simon. It will take sometime to figure out services offered and it’s best to have these services printed out for seniors to refer to because seniors will ask you to do almost anything just to keep your company. So, it’s best to know your services and constantly remind them of what you are there to do. To be honest it’s hard to say “NO” to a senior because everyone love seniors. Saying No to something can sometimes feel like you’ve just said no to your grandma or grandpa.
      Romona @Monasez recently posted…Saved $100 on my Phone Bill with just one phone callMy Profile

  3. This idea is only going to get better as our aging baby boomers get older and older. There are a lot of opportunities in this space.
    Free Money Minute recently posted…What is a 529 Plan?My Profile

  4. This is such a great idea! I can honestly say, besides computer training, I never thought of a business that caters to seniors but this one could really have potential.
    DC @ Young Adult Money recently posted…How Much Would You Spend on a Once In A Lifetime Experience?My Profile

    • Computer training is also a great idea for seniors. I have been asked twice before by two elderly residents to help set up Facebook pages. In my apartment buildings we have computer labs but they hardly ever get used because they don’t know how to use them. There is a need for senior services and the best part of it is marketing is finding your target market is easy because they’re in retirement and senior communities just waiting for your business.
      Romona @Monasez recently posted…Saved $100 on my Phone Bill with just one phone callMy Profile

  5. I think this is a great idea for a business. From experience I know that elderly people often need help with many day-to-day tasks, and doing so in a non-predatory way would be very helpful. With that said, I also think you’re taking on a decent amount of potential liability here, especially when you get into things like paying bills and scheduling doctor’s appointments. You would absolutely need to make sure that you had your liability covered with strong insurance and possibly even by the form of your business.
    Matt Becker recently posted…You Have to Allow Failure in Order to Promote GrowthMy Profile

    • I agree with your point Matt. That’s why it’s important to be very transparent and to keep a detailed log on all activities. Seniors are very forgetful and sometimes they don’t understand which is a challenge when trying to do business with them. So you’re exactly right. There are potential liabilities.
      Romona @Monasez recently posted…Saved $100 on my Phone Bill with just one phone callMy Profile

      • That’s also a good reason to meet their family if the family is at all in the picture. You would have to have a written contract laying out exactly what your responsibilities to the client were, and what the client’s family expected of you.
        Without this, you could find yourself in a position of having to explain yourself to an irate adult child of the client as to why you received a check for $200 for running errands for example.
        Missy Homemaker recently posted…Friday Funny! I’m inappropriate…it’s true.My Profile

  6. I see lots of pitfalls for a business of this type. You’ll have to be careful to do everything VERY well, because (at least in our community) someone who makes mistakes with senior’s money is instantly an outcast.

    That said, you’re correct: there is a monster market for this type of business, and it’s still growing. I have another marketing idea: give speeches to local groups about your service. It’s so novel that I’m sure groups that have plenty of seniors would love to have you speak about how to pay different bills effectively or negotiate payments, etc.
    Average Joe recently posted…George Zimmerman Accidentally Teaches Money LessonsMy Profile

    • That’s a great idea. I find that seniors enjoy presentations. I remember I had a presentation on writing a will and about the legal aspect of it, once in the community room of my senior apartment complex and there was a packed house. And there are a lot of property managers of senior facilities that
      schedule activities for seniors. So that’s a wonderful idea.
      Romona Bradham recently posted…Saved $100 on my Phone Bill with just one phone callMy Profile

  7. Hmmm…that’s an awesome post! I never thought of elderly concierge services as a way to make money but, $20 to $30 per hour isn’t too shabby! Thanks for the great post!
    Josh @ CNAFinance.com recently posted…I’ve Finally Started To Invest…Off To Betterment!My Profile

  8. I think the need for senior services will continue to grow. If you develop a good reputation and do it the right way, the word of mouth potential is huge. In a world where everyone is rushing and leaving you behind if you don’t know the technology, you could really do some good by providing a service to make life easier for seniors.
    Kim@Eyesonthedollar recently posted…Can You Recognize a Scam?My Profile

  9. Sounds like a form of “taskrabbit”. The only thing I would be worried about is getting pulled into things that start resembling hospice care. (Dealing with restroom mishaps or medical problems).
    Stefanie recently posted…Money Manners: Splitting the BillMy Profile

  10. This is a really interesting idea. I help seniors…my parents, parents-in-law and relatives! It usually has to do with the internet and they don’t know how to use the computer. My mom travels to Boston and the bus she takes mainly uses online reservations so I print them out. My uncle is part of an organization that sends out e-newsletters but he doesn’t have a computer. And they both have digital cameras but don’t know how to get the pictures out. I’m sure there are plenty of seniors out there who have no one to help them with these tasks.
    Andrew@LivingRichCheaply recently posted…More Ways to SaveMy Profile

  11. Interesting business concept! I have heard of people driving seniors around, but haven’t thought of paying their bills, or scheduling appointments for them.
    Lisa E. @ Lisa Vs. The Loans recently posted…Weekend Recap: An Ode to ChuckMy Profile

  12. A novel idea for generating more income. As Boomers – an incredibly large demographic generation – age, this type of service takes on more significance and offers a greater chance for finding success.
    James Molet (SavvyJames) recently posted…Wealth AccumulationMy Profile

  13. With the general population aging I can see where this would be something that people could easily do on the side.
    Budget and the Beach recently posted…Taking Risks: Failure has taught me as much as successMy Profile

  14. What a great idea! My grandma is pretty independent, especially for her age, but she always calls me if she needs help with the computer. She lives in a senior community and I could see this spreading by word of mouth. My grandma is a pretty established member and has a lot of friends here. Too bad I am probably moving within a year…but if I manage to move near my parents, who are also in a 55+ community, the potential could arise again.
    E.M. recently posted…What Our Day Trip Cost UsMy Profile

  15. While I feel sorry for the folks in the position of needing those services (getting old can suck), I think this seems like a potentially lucrative business idea. People simply don’t have the energy and capability to do all the same things in old age that they did when younger. When you’re dealing with seniors with good retirement situations, it’s a case of deep pockets along with the need for the services.
    Squirrelers recently posted…The Surprising Extra Costs of Driving an Expensive CarMy Profile

  16. I love this idea!! It is brilliant.

    I do have one idea to add. Many attorneys specialize in an area of law called elder care. I bet if you reached out to local attorneys in this area of the law, they might have many potential clients for you.
    Michael | The Student Loan Sherpa recently posted…Obama’s Swings and Misses Again on Student LoansMy Profile

  17. Great idea. It will also become more relevant with the aging population over the coming decades. Very interesting.
    moneystepper recently posted…Mobile phone quiz – funny maths teacher winMy Profile

  18. For someone who doesn’t have your history in property management, how would you recommend they start a similar business? Would you recommend starting it as a community service project, then expand it into a for-profit opportunity? Without your history as a property manager, where do you think you would start, knowing what you know now about the need of these seniors?

  19. Actually no matter if someone doesn’t know after that its up
    to other users that they will help, so here it happens.
    assisted care facility recently posted…assisted care facilityMy Profile

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