24A: Venture Concept No.1

My Venture Concept: Pendleton Care

My fully venture concept is centered upon the unmet needs of a rapidly aging population in Middle and Southeastern United States in the form of health-care predicated on the needs of deteriorating individuals. This opportunity was created in part to multiple factors, but primarily the failures of the American Healthcare system. American Healthcare has been constantly adjusted and redefined both legislatively and parochial to varying degrees to minimize spending and maximize coverage policies, but the actual affect of the current system does well to protect the general interests of middle class middle aged Americans but leaves gaps in the coverage of the senior citizens, resulting in ineffective recovery options for a demographic known to have the most tumultuous of health complications. Other such forces are the corporations that dedicate themselves to solving the problem but fail in their ability to provide the care necessary to ensure a healthy life and recovery period to both the customers and the family members of the cared, these companies like to prioritize the maximal profit margins by cutting costs on quality of life actives like meals and medications and labor costs by hiring individuals unqualified to be called a care-taker let alone a nurse; these factors culminate in a system that fails to meet the standards of conditions of the customer and chooses to neglectfully hire unequipped caretakers to continue to make maximize profits at the expense the customers health and the price point of the service. My market is defined within the demographic of Americans ranging in age from sixties all the way up to the late eighties, as these individuals are most likely to have an immediate family member or themselves be unequipped to provide the care necessary to continue an average day to day life. Geographically my market rests within the eastern seaboard as it is fairly common trend for Middle and Western America to live to a higher age without the need for a form of assisted living. A perspective customer of mine might seek to hire a live in nurse to assist with their health complications but such a measure is immeasurably expensive and tends to not be included in insurance, and the customers loyalty lies within what can provide them with the best care. Perhaps the best testament to my opportunity is the fact that it’s window of exploitation is endless, as it is a constant of life to grow older and in that fact lies the inevitability of disease and failing health, meaning my market never ceases to exist. The Innovation of my service lies in the ease of access/use for family members and the usage of qualified individuals to act as care-takers and nurses rather than hiring the cheapest labor possible to care for loved ones. The ease of access comes in the form of my automated payment system and navigable website both in beta testing as of this moment; the payment system is entirely automated and goes through the user’s registered email and of course is encrypted by hash-table prime number generated encoding, I intend to abuse my competitors lack of technological incorporation to care to my advantage and create a system that puts the user experience before operational performance, which creates a system that makes my companies billing easier and payment plans just as easy. My service functions on the basis of insurance coverage and tentative residence within the nursing home / care facility. Price point is dependent on supply, labor, and mortgage, but within the range of 1,000-1,750$ a month for recovery at the institution in exchange for peace of mind and unbeatable care. Now as to the reasons for why my venture product should work, the first being that the concept of nursing homes in general are a fresh concept, and as a result my current competitors happen to charge insane rates for a lackluster care facility, my price-point falls far short of theirs and my modernized payment plans are more than enough to have customers come to me over the competition. My main competitors are BrookDale, Helms Home, and other one-off elderly care facilities, but with confidence my staff and online services put  Pendleton Care a fair way ahead of them in scope. 

In general, the most defining characteristics that can be indicative of success would be location, price-point, and customer experience; as any care facility would have. The next in line for my venture is to begin looking for perspective locations to place my very first business / facility, and to begin the screening process for qualified nurses, and as for me, my next steps within the process of my business is to see just how far I can reshape the process of care and recovery for the elderly, sell the business off should it find success and begin the work of opening my own one-stop-shop technology store, like a Best Buy of sorts and see if the market can handle just one more competitor.