Senior Citizens need a variety of services. They have special needs and also control over their time. They can go for morning shows of movies or fill up happy hour slots at restaurants. They are large consumers of pharmaceuticals. They often need assistance and healthcare.
AARP (American Association of Retired Persons) is a pretty successful affinity group in USA. Anyone over 50 can join. Drawing from concepts around the world there seems to be a large opportunity to make lives of senior citizens in India easier.
What the Entrepreneur needs to do?
1. Prepare a business plan to be the #1 services destination for senior citizens in India . (Note a combination on online/offline/mobile may be needed). Business plan should have a 10 slide ( max) pitch and not more than a three page executive summary
2. Membership should exceed 1 million in 3-5 yrs. Revenue should exceed rupees 200 million in 3-5 years or in other words the ARPS ( Average Revenue Per Senior) should be rupees 200 per year or more.
3. Using own or friends and family money the entrepreneur should be able to get a beta site up and running with close to 5000 satisfied members. Service could be free to these members
How the Bhargava family can help entrepreneurs?
1. Mr. Harish Bhargava who is a very active senior citizen in Pune can help them with member acquisition
2. Sanjay & Sunil can become advisors/investors to the entrepreneur if required and can help in scaling the business including accessing angel/VC money. They cannot make the entrepreneur succeed but they can act as mentors and increase odds of success.
1. Send your plans by email to firstname.lastname@example.org. We will keep plans confidential but will not sign non disclosure agreements etc. If you are not comfortable with this do not submit plans
2. If the three of us feel the plan warrants further discussion we will contact you
1. The entrepreneur must have passion and integrity and the ability to execute the plan. The team that the entrepreneur can put together is very important.
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