I was on a consulting call last week and while we were wrapping up, my client asked me if I were in construction, I mean directly in construction with a hammer and stuff, what would I do.
Without hesitation, I said Aging In Place
There are 69.7 million baby-boomers in the U.S., count that against the 242 million adults, and you have almost 30% of the adult population falling into that category.
I don’t have all the stats, it’s not that kind of post, but just know that most of those 69 million people want to live in their current homes, so aging in place remodeling is THE SWEET SPOT of residential remodeling.
I would almost suggest that it might be somewhat recession-proof, but I don’t want to jinx it.
And, the best part is, you can work both sides of the fence…Here’s what I mean.
Like I said, the parents don’t want to move; they don’t want to go to their kid’s houses, they don’t want to go to a nursing home and they absolutely want to live life to the fullest.
While sitting on 70% of the country’s disposable income, baby boomers have a lot of coin at their, well, disposal.
So if I were a contractor or I partnered up with a contractor and had to pick a category that I think was going to dominate the remodeling landscape for the next 15 years….it would be Aging in Place remodeling.
The feel-good takeaway here is the ability to help someone stay in their home a little longer, maybe forever. The economic benefit to your business is you potentially get two clients in one; the parents and the kids.
There’s no harm in selling a traditional remodeling project to the kids now, an AIP project to their parents and then stay in touch for even more AIP work as they themselves age. That is yeoman’s work and building for your future…and theirs.
And that, boys and girls, is where I would spend the next 10 years of my business life focusing on…if I knew how to swing a hammer.
I don’t know how to build things…physically, but I sure can help you build your business. If your 2016 didn’t live up to your expectations, check out my MOD Construction Marketing Consulting & Services for contractors to make sure your 2017 get’s off on the right foot.