This should be of primary interest to entrepreneurs in Mumbai/Pune who view making lives of seniors in India easier as an attractive business opportunity.
As a family ( my father, brother and me) our interest is in backing entrepreneurs who want to attack this space. We have put together a one pager that details
1. The Opportunity
2. What the Entrepreneur needs to do
3. How we can help
4. Next Steps
5. Criteria
We think Pune could be a good beta site as my father could help get beta customers. He also has deep domain knowledge. The entrepreneur’s would need to use own/friends/family money to bootstrap and do a beta in Pune. In 3-5 years the membership should exceed 1 million seniors across India and the ARPS ( Average Revenue Per Senior) should be Rs 200 or more per year or in other words total revenues should exceed Rs. 200 million. My brother and I could help as advisors/investors and in closing angel/VC rounds if that is required.
Entrepreneurs who want the one pager should contact my father at hbhargava@vsnl.com or I can post the one pager on this site. If comments ask me to I will.
On this post please comment on whether posting opportunities like this is appropriate and useful ? On this particular opportunity do you think it is a real opportunity ? Do you know of startups or large companies attacking this space ? Whats the scoop on Harmony, Tina Ambani’s effort ?
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Hi,
There is another website called http://www.saharacarehouse.com, which again provides services similar to yourmaninindia.com.
I know of a few seniors who are a part of the “senior citizen” group here in Pune. Once enrolled the group is responsible for supporting the members in the form of frequent travels (within India and abroad) to keep them away from the loneliness depression and at the same time it serves as a form of entertaintment, medical tips and advise, investment and saving options, frequent parties and get togethers, free medical camps etc … This surely is a good business opportunity.
It surely will help those seniors who find it difficult to get their day to day jobs done. A reasonably priced, trusted and friendly service will surely go a long way.
How many seniors are ready to avail this service? Other than few metros and sub-metros, I think rest of them are just happy with the daily routine and they have enough time to do their chores. They need services but are they ready to offer money for that and then how much, I think any one concieving this venture needs to see how much an average senior (the present senior generation was not very high end earner, like today’s younger generation) can spend.
Rohit,
Your man in India is interesting. Was not aware of the site. Thanks.
Nick,
You make a good point. First India then why not the world.
Rajesh,
You are right. The human touch will be important.
Hi Iqbal,
I will put the one pager up on this site.
I do not want to bias entrepreneurial thinking but you will see in the one pager that it mentions that a combination of offline, online, mobile may be required.
It is amazing how inventive people can be. One person mentioned that maybe seniors could work from home so one of the service provider categories could be those who want to offer jobs to seniors. I had not thought of that but it makes sense.
They could be great teachers or even BPO persons as long as they can work from home.