I have always had such respect and passion for working with the elderly. I have taken care of family members and relatives of friends. How can I make this my business?
True. A nursing home would be the most suitable business for you. Train volunteers who are needed to provide respite for caregivers, companionship to patients, and emotional support to families. Volunteers can be lay people or health care professionals who learn to develop a better understanding of the needs of hospice patients, and are skilled at communicating with families.
You could start a nursing home but it could cost you though, you must have all the needed facility to establish it. This is a good business by the way and its a great help for the community too.
Good Luck to you.
When you move into the medical end you get into a lot more expense, licensing, and regulation. The "elder care" non-medical (run errands for them, shop with them, watch them while caregivers are away, etc) is a booming market right now. You can step into it yourself, or if you don't have enough info there are many franchises that will help you get started and provide some support.
You can pursue a career in nursing, or become a caregiver. If this is what you are passionate about taking care and helping the elderly, then simply having a business that serves elderly people won't really be to you what actually taking care of them is to you.
If you want take care of elder's then I think, you can do any business, you will success in that business. Your thinking is more match to nursing business. In this business you can do much better take care of elders's. It's a great job and I hope, you can very well do it.