Senior Life Manager Business Idea

by Byron on April 15, 2011

I was reading the latest Economist tonight.  The cover says, “70 or Bust!”  The special report inside is highlighting the idea that we have a demographics and pension system problem, both in America and in the world.  No kidding.

It got me thinking about what seniors need, though.  I came up with the idea for a senior life manager.  Companionship two hours per month, does tax returns online, confirms healthcare is taken care of, basic bills are paid online, food delivery confirmed, etc.  One point person per client.  Cost: maybe 25% of fixed income + a referral % on groceries, gas and electric, lifeline, will drafting, etc.

The business uses technology for scheduling, feedback on “point person” caregiver/companion, delivery of non-human services, billing.  There is an opportunity to up-sell basically a whole life worth of services.

Per usual, I’m not unique.  These ideas have already been thought of.  Google “senior companion services” and you start to get an idea of what I’m talking about.

However, I think there is a clear market opportunity to be the brand leader in this space.  It gets sold based on the quality of the people.  Thirty years from now I can see 10% of the population using these services and a couple of companies owing most of the market.

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