In addition to providing a valuable service to seniors, when you start an elderly transportation business you are setting yourself up into being your own boss. If you have always been an employee for someone else, this is a big step and carries with it several responsibilities. One of the most important ones is to do whatever you can to become successful.
As is the case with many entrepreneurs, startup costs are a deterrent that may force some great business opportunities away from what could have been great business people. I am certain that you will be successful in your elderly transportation business but to ensure that happens, I have put together a short list of ways you can start your business without costing you a lot of money. Here they are:
1 – Low Startup Costs
The fact that you do not require any kind of formal training to launch an elderly transportation service saves you a lot of money at the get go. All you really need is a reliable vehicle and a cell phone. You will need a business license and proper vehicle insurance to cover the extra passenger(s) but that is nominal compared to a two or three year certification course.
2 – Fees For Service
While it may be easy to say that the guys in the ‘big city’ are charging $75 per hour and that you can charge $80 per hour, the reality of the location your business will be operating will change that. Sure, the rates will be higher in the city but if you don’t live in an urban setting, you will have to change your fees to meet what the local market can bear. The national average is around $36-$40 per hour.
3 – Skills You Will Need
Even though you do not need formal training to start an elderly transportation business, you do need some skills. You will need to be organized in order to keep scheduling, billing and tasks in order. You will need to be a caring and compassionate individual as your clients will be seniors. You will need to have common sense in order to work out situations and to assist with problem solving. You will also have to be honest in order to gain the trust and loyalty of your clients.
4 – Marketing Your Services
Considering your elderly transportation business is aimed at serving a specific age demographic, you will need to target your marketing efforts at that age group. This means getting to know people who provide other services for seniors in your area. A good place to start is at the local seniors centre and at long-term care or gated communities that are populated by residents 55 plus. By advertising your services on free online classified advertising sites, you will increase your exposure at no additional cost.
5 – Income Streams
An elderly transportation service generates between $25 and $60 per hour. You rates will fall somewhere in that range. Even if you work part-time at 20-hours per week and charge $35 per hour you can earn $700 per week. If you expand your services by providing additional things that can fill out your business plan, you stand a chance at increasing that hourly rate and earning even more. The way to do this is to start with the basic pickup and delivery services and adding extras along the way.
Starting up an elderly transportation business is timely. With the rapid rate in which Baby Boomers are becoming seniors, there is a real demand for any kind of business that provides a service to seniors. This means there is a need for your business and will continue to be a demand for years into the future. To discover more, grab a copy of our step-by-step startup guide: