Of course I’m going to say that a senior transportation business is the perfect opportunity for anyone looking for an extra stream of income. What I like about it most is that you can run this business either part-time or full-time. But let’s look at it as a part-time business opportunity.
There are several reasons why operating a senior transportation business on a part-time basis will work for you. Retirement these days does not mean ‘stop working forever’ for everyone who hits 55, 60 or 65. That is why a part-time opportunity like this would be a good fit. It keeps you actively engaged with other people, operates on your terms, provides you with an active lifestyle and feeds you a source of income.
Maybe you are already operating another kind of senior service business and adding a transportation service just makes sense and will fit into your existing business plan. Suppose you already have a senior concierge business. There is no reason why you wouldn’t want to be able to offer another perfect service to your already established clientele. In fact, depending on where you live, you may become more successful with a combination of senior services than by operating only one.
As you can see, there is a great deal of potential present in the senior transportation business. What makes it so valuable to seniors is that you can take them anywhere they need to be and return them home. Naturally, there is a charge and the going rate for such a service ranges from between $25 and $60 per hour. The exact location where you live will determine the actual rate you will be able to charge with higher rates based in cities.
Assuming you charge in the middle – $40 per hour – and worked no more than 20 hours per week, you would earn $800 per week or $1,600 every two weeks. That’s a pretty substantial amount for just a part-time transportation service but you would have to factor in all your regular business costs including fuel, repairs and regular vehicle services and maintenance, business operating costs related to your home office and still you would end up with a pretty fair amount for just a part-time service. Fortunately, the I.R.S. provides a 55 cents-per-mile tax deduction that can offset those costs at tax time.
You can launch this business with very little. If you already have a reliable vehicle with room to carry passengers and space in the trunk for a wheelchair and groceries plus a computer at home, your costs to start up will even be less.
Statistics show that mature workers who start a new business in their 50’s or beyond have a higher rate of success than younger entrepreneurs. This puts the odds of you succeeding with a senior transportation service in your favor.
So, how do you get started? My guide on How To Start A Profitable Senior Transportation Service gives you all the details from what you need to know and what you need to do in order to get going. It spells out in great detail how to market your business and where to find potential customers. It will guide you to building a successful career with a senior transportation business. It will only be up to you whether or not you will keep it as a part-time business or not. For more information, click here.