Serving Mature Patrons Goes Way Beyond Simply Offering a Senior Discount

If there were a modern-day Paul Revere just for restaurateurs, his message would be both a warning and an opportunity. These days, he'd be galloping through town yelling, "The seniors are coming! The seniors are coming!" In fact, the seniors are already here, but they are coming in larger numbers than ever. According to the United States Bureau of the Census, 12 percent of the total population is 65 years and older. That represents 35.9 million potential customers. By 2050, that number will more than double to 86.7 million Americans as baby boomers continue to age.

If you lower the age to define senior citizens, the numbers are even higher. Latest census data indicate that there are 75.7 million Americans 50 years old and older -- and that's projected to grow to 115.4 million Americans over the next 15 years. Any way you look at it, older Americans represent a significant customer base. What's more, according to the AARP, people's incomes peak in their 50s while their discretionary incomes peak in their 60s. Add those factors to the sheer numbers and restaurateurs would be smart to get to know this market better.

Are senior citizens good customers? You bet, says Dr. David Demko, a gerontologist from the University of Michigan who has served two commissions on White House Conferences on Aging. According to Demko, the AARP is right on about the amount of discretionary income of people in their 60s. In fact, Demko says that people over age 60 have twice the discretionary income of people ages 25-29. "They have a huge amount of discretionary money," he says. "Not every older person is wealthy, but their house is paid off, and their kids are out of college."