Nowadays, a lot of businesses have targeted baby boomers, and they are doing this for a good reason. Since most baby boomers are retired, and are living off their pension, they make up that part of the society with indispensable income, and with a lot of free time at their hands. Some businesses that benefit from this are travel businesses, airline businesses, and of course, home-based businesses. It seems like boomers are constantly looking for leisurely things to do and if they run out of ideas, they turn to business.
One of the most attractive options for them is home based travel business. For them, the time after they have retired is the peak of their lives, and they want it to be as worthwhile as they can make it to be. Many boomers have already traveled for business or for fun, and for them; this equips them with the necessary requisites of running this venture. However, this does not fully encompass the underlying reasons why this type of business is a common preference for them. So to answer the perpetual query as to why boomers prefer home based travel business, we came up with a list.
- The FOMO mentality not only exists in millennials, but also in baby boomers. FOMO, or the Fear Of Missing Out. Ever wondered why you see a lot of them spending days at the coffee shop holding an iPad? Most of them have become tech-savvy because it allows them to stay on top of what is currently hot and what is not. This is also one of the defining factors why baby boomers choose to venture in online business, particularly online travel business. They want to feel like they are updated in the current trends, or make sure that they are exposed to enough culture, so whether it is by getting a timeshare or putting up a home based business, they are almost always willing to do it.
- Most baby boomers are inclined to travel. As mentioned before, most part of this generation is already retired and finds themselves with more free time than they are willing to admit. They also feel the need to see something “before it is gone,” and this drives them to travel all around the world. With the looming threat of global warming and what not, they feel like traveling tourist attractions all over the world have a deadline, and they do not want to miss out on anything. What is stopping them, anyway? They have all the time in the world. Moreover, this gives them the excitement of exploring new horizons. Without the everyday challenges of their previous work life, they look of a sense of adventure, and more often than not, they find this in traveling.
- A lot of baby boomers live in a household that is an “empty nest.” A great bulk of this demographic live in a household wherein the kids are married, off to college, or have simply moved out. A lot of them have even resorted to getting pets. These pets do not really make up for the absence of other family members, but somehow, gives them comfort. Most boomers claim that this makes them bored-they were used to a life of coming home to a house full of kids, and now that it is not the case anymore, they want to venture into something that will keep them preoccupied, like a hobby, but is also financially sustainable, like a business. So, they turn to something that could offer both, which is home based travel business.
Having a regular source of income and unlimited free time is not just the reason why baby boomers are enticed to venture in home based travel business. This is not just about them, having nothing better to do, but it is because of the industry’s risk-free nature, especially for those who are new in the business industry. Aside from the topline reasons mentioned earlier, we are sure you can find more motivations to mount your own home based travel business.