Helping Others by Opening a Stair Lift Business
Business Overview:
If you’re looking for an assistive technology business that is in great demand, you should consider opening a stair lift business. A stair lift is a product designed to help people and wheelchairs up and down stairs. Also known as a wheelchair lift, this device can be installed in homes, restaurants, schools or auditoriums, giving higher levels of access to the elderly and handicapped. Since this is a specialized industry, you either need to know how to install lifts yourself or you can buy a stair lift franchise in which case they will fully train you. This option is more costly (at least $25,000 USD) but it comes with all the training and equipment you need to get started. If you open a stair lift business without a franchise, you would be wise to recruit skilled, professional stair lift technicians to work for you. Either way, with the aging baby boomer population, this type of assistive technology is one of the smartest business ideas available today. When marketing your new business, look for assisted living facilities that are being built or being refurbished. Landing a contract for an entire retirement community would mean plenty of work and plenty of income for your new business. Also advertise in publications aimed at the retired community like AARP. Contact medical supply businesses in your area and ask to be placed on their referral list. Often when someone is placed in a wheelchair, their home needs to be retrofitted with ramps and lifts. Offering such a needed service will not only help you build you a financially successful business but a rewarding one as well.
A Day in the Life of a Stair Lift Business Owner:
Your day will begin with a check of any installations on your schedule. You or your staff will perform the installation and check back with the customer after a few days to see how the lift is working out. You will also spend some time each day marketing your business. You will hand out fliers and business cards and make contact with medical supply companies.
About Your Customers:
Your customers will be individuals who need assistance getting up the stairs. You may also contract with retirement communities and assisted living facilities to install lifts throughout their facility.
What You Need to Start:
- Experience installing lifts, a skilled installation staff or a stair lift franchise
- Financing
- Equipment
- Marketing plan
- Vehicle to transport large equipment
- Computer with finance software
The Good:
- The demand for this type of equipment will continue to rise as the population ages.
- You are providing a valuable service to the aging and handicapped communities.
- You can charge top dollar for your installations.
- Competition is very low in this industry.
- Franchises are available to help you get started and train you and your staff.
The Bad:
- The installations are labor intensive
- The startup investment is high.
Resources:
- Assistive Technology Industry Association
- Rehabilitation Engineering and Assistive Technology Society of North America
- Wikipedia on Stair Lifts
About The Author
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