March 11, 2010
One of the sectors I’ve been looking at from a business perspective for over year is the elder care space. We all know the demographic trends and that the baby boom has just started to turn 65.
I’ve lived elder care for a number of years. Firstly as a grandchild living through the decline of two grandparents and helping to manage their affairs. Now it’s much more salient for me with a father (with whom I am very close) whose health has been declining slowly for many years.
As a child living through the decline of a parent I see all sorts of opportunities to make the life of the parent and the child better. For example, when we hired a live-in care giver for my father it increased his safety and his standard of living. But it also increased my standard of living in a very real way. No longer do I need to have the weight of his decline on my shoulders, no longer do I need to think twice about going away for the weekend in case he falls and can’t get up etc. etc.
So, I’m living this right now and because I’ve seen how much better my life is becoming, my passion for this area is growing.
I’m going to be looking at a couple of business ideas in the space and will write about them here.