Start with a senior store
Nowadays, stores and supermarkets have a great amount of products and articles for all kinds of public, this makes that looking for a specific product for an older person, becomes a challenge in the middle of so many products available for any person. To facilitate this, a shop for older people may be the answer.
A great list of local shops you can find here
With a good business plan and the right motivation, a senior store can be the profitable business idea you’ve been looking for and, over time, your source of income. To do this, let’s see what we need:
Set out your approach
By this we mean the type of products you are going to offer to this part of the public. The truth is that you have a wide variety of areas to choose from, for example, food products, clothing, accessories for the elderly, hygiene and care items, among others.
Don’t forget to choose a name for your business, which should be eye-catching, short and easy to remember for all your potential customers.
Contacting suppliers
Once you have chosen the type of product you are going to offer and after evaluating the profitability it offers, it is time to contact the best suppliers of this type of product after having done some research. I recommend that initially you try not to saturate your space with products and distribute the investment incorrectly, but start with a few, because as the business grows, it will ask you for more products and to this extent you will be able to acquire them.
Business plan
A business plan is a document in which we gather all the tangible materials that will take part of the investment and then, after calculating what we need, we can obtain an approximate figure on the initial investment capital to start our business. Starting from the senior store, you should keep the following in mind:
Premises: To set up the senior store, you will need premises that you can either rent or buy. Keep in mind that the dimensions and characteristics vary according to the type of product you are going to offer. For example, if it is about clothing, you may need more space if you put clothes for people than a food store.
The location of the shop is vital, as it should be close to places where older people often pass through, in a visible place and with shops nearby.
Permits: As any business, it will be necessary to have permits and operating licenses established according to the business regulations in your city and country so as not to have any kind of inconvenience in the process.
Personnel: According to the size of the business and the growth, you will need more or less personnel for your business, because you will need to take care of areas such as: customer service, cleaning, administration, organization, etc. In addition, you may want a uniform for all employees.
Promotion: On the day of the launch even during previous dates it is key that you put in place visible advertising strategies in areas where this population is mostly concentrated, flyers and business cards will be very necessary. Don’t forget about web presence and advertisements.
Requirements to start a senior store
A market study is needed to determine the elderly population and their needs, in order to know the business and determine the best and most demanded products for these elderly people, increasing the speed with which the inventory can be moved.
It is also necessary to rent a space in a shopping center is convenient for this type of business, you can also acquire a space overlooking the urbanism, which will facilitate the entry for customers of the elderly.
Advantages of having a senior store
The elderly population in Spain is larger than the young population, which represents an extremely important influx of potential customers to capture and manage to meet their needs in exchange for good profit margins in the process.
The merchandise does not have an expiration date so it can be on the shelves long enough before it is sold. Many of the items are orthopedic in nature, which represents the satisfaction of a mostly clinical need, whether it be for support when walking or for different purposes, this is a product that becomes absolutely necessary for the customers that this business captures.
Tips for setting up a store for senior products
Establishing the business in a location of the best accessibility for your customer, locating the store in a ground floor location can represent a solution to the problem of
to facilitate access to clients, since many of them have difficulties with mobility.
The most recommendable thing is to have a place with a view to the street or in its defect a place in a commercial center in ground floor, in addition it is recommended to be located near neighboring businesses like pharmacies, clinics or hospitals, so that the clients can be captured with more facility.
Make the business known by advertising on the portals of clinics and hospitals, leaving business cards and brochures with the service, location and phone number, you can also promote the business on social networks or medical forums so that it can be recommended by medical professionals.
Problems that can be presented shop for senior products
Working with older clients can be very difficult, ‘as they can become extremely fussy, representing a clear mental fatigue in the process of attending to them on a day-to-day basis.
In addition, meeting the needs of this type of client can be complex, so you must have all kinds of items available for this type of client and have a lot of patience in the process of attending to them.
Success stories
La Tienda del Abuelo is a successful store because it works in direct contact with distributors and manufacturers of top brands, enjoying the most competitive prices on the market. Offering maximum customer satisfaction. With about 19 years in the market of the elderly, their families and caregivers, with products and services that improve the quality of life of the elderly.
La Tienda de Yaya, is another successful and prestigious company for elderly customers because it offers a wide variety of solutions in products for the elderly:, for the toilet, cranes, mobility, anti-scarf, footwear, among others. It also has professionals with extensive experience to meet all needs.