Mobility and accessibility solutions are products and services that meet the needs of a dynamic spectrum of people with varying degrees and types of disabilities that result in mobility and accessibility challenges.

Products you could offer in this industry include stairlifts, ramps, scooter carriers, mobility scooters, elevators, vertical platform lifts and more, as well as the services provided by installers, dealers and distributors.

While it may not be what most would consider a sexy industry, I expect this market segment to expand even more rapidly as the United States sees a shift in demographics and demand increases.

Lets explore some of the key factors influencing the mobility solutions industry and how to determine if it's the right industry for you.

1. There are more older people.

According to the U.S. Census Bureaus 2017 National Population Projections, all baby boomers will be older than 65 by 2030. For the first time in history, older people are projected to outnumber minors by 2034, and experts predict that 77 million people will be over the age of 65 in the United States by 2034.

I have already seen the positive impact this shift has had on the mobility and accessibility solutions industry, and I expect it will only increase as the aging population continues to grow.

2. More of these Americans are choosing to age in place.

Not only will the coming years see greater numbers of older Americans, but a growing trend is also making the mobility solutions industry even more appealing.

Instead of selling the homes where their families grew up to move to retirement communities or assisted living facilities, more older people are deciding instead to age in place. According to a 2014 AARP survey (viaHomeCare), 87% of those over 65 want to age in place.

An entire realm of education and advice about this has developed, on which entrepreneurs can capitalize. For example, the National Institute on Aging offers material on costs, concerns and issues related to aging in place.

3. You can offer a variety of modifications.

Whether an older person wants to age in place in their own home or move into the home of a child or relative, there are often many areas in a home that companies can modify for them. Similarly, when a child or spouse becomes disabled, you can offer them adaptations.

According to a recently updated article on AgingInPlace.org, the 2015 American Housing Survey conducted by the U.S. Census Bureau looked at 118,290 homes, only 36,845 of which were one-story homes; 66,534 reported that steps were necessary to access their homes from the outside. But even flat floors and narrow doorways can make life tough.

4. Service is a necessary, ongoing human component.

The equipment and products themselves are just some of the solutions you can offer. The people for whom these products are designed need help. Consider providing installation services as a vital part of a comprehensive solution that provides the help they need.

Consider the example of a wheelchair-bound customer who lives in a house with four steps at the front door. This affects the life of the disabled resident as well as friends, families and caregivers who must be present to lift the wheelchair up and down the steps.

As a mobility solutions provider, you should be able to dispatch an installer promptly to efficiently install a lift or ramp to become a trusted go-to in the area.

Success and longevity in this industry will also require you to provide ongoing service and support, including routine maintenance beyond the sale and installation.

5. Positive energy can fuel your momentum.

Another factor that can quietly drive your success in this industry is the spirit of the people behind your business. The connections built between business owners and their customers and the satisfaction that comes with helping others in need are big parts of why many who get into this business love it.

At first blush, an outsider might think of the mobility and accessibility solutions business as profiting from the misfortunes or problems of others. The reality, however, is quite the contrary. The need exists, regardless of how unfortunate, and someone has to provide the necessary solutions. When you build a business that addresses the needs of a growing population, everyone can benefit.

Those of us with full mobility often take for granted the simplest things in life. Being able to make a night-and-day difference in a customers quality of life is incredibly rewarding and can make business ownership in this segment an attractive opportunity.

If you are considering pursuing a business opportunity in this growing industry, you might ask yourself a couple of questions to decide if it's the right fit for you. Do you have an outgoing and engaging personality? Will you enjoy assisting aging, disabled and special needs customers with ways their homes and the businesses they visit can be modified and/or better equipped? Are you outgoing, and do you enjoy relationship development activities with other business owners and agencies? Are you a strong team leader who can build and lead a motivated team of employees with the same vision that you have?

If so, here are a few things to look into:

Do some local market research to find out how many businesses are involved in this. Don't be worried if you find some, because odds are you will. In fact, I'd be more concerned if you didn't. It's always important to know who and where the competition is.

Once you've found the competition, secret shop a few of them. This will allow you to see what you might be doing on similar appointments in the future. Is it something that you feel as though you'll enjoy? You can also see where you might handle things differently or differentiate yourself.

Do some local research to find senior and/or disabled persons support agencies. Go visit an agency director, and find out what kind of activities and events they sponsor. See if they have something that you could do or be involved with.

Did you enjoy this process, and can you see yourself engaged in these kinds of activities as a norm?

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Five Factors Influencing The Mobility Solutions Industry - Forbes