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    Date submitted
  • 25-Feb-2018

Generational Community Homes

Abstract

Our business' mission is to connect the elderly and college students in an independent living community. We hope to lessen the expense for college students, connect the generations, provide quality affordable living for the elderly, and increase the quality of life for the elderly. Our facility will provide rooms for college students to live around the elderly. This will allow the two to naturally connect. The college students will be required to have 30 hours a month of service in the facility, which will decrease our labor costs. Studies show that the elderly are more content when interacting with younger people.

Additional Questions

Who is your customer?

Our customer is the elderly population in need of assisted living, and college students in need of affordable housing.

What problem does this idea/product solve or what market need does it serve?

Expensive living conditions for elderly and college students and the limited income of college students. Another pain point would be the loneliness of the elderly and the disconnect between generations.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

We provide rooms for college students to live around the elderly. This will allow the two to naturally connect. The college students will be required to have 30 hours a month of service in the homes, which will decrease our labor costs. Studies show that the elderly are more content when interacting with younger people.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

Our team will take out a loan to fund the building of the facility. We will then use social media and set up posters at colleges to reach students while also going to hospitals to reach the elderly. Once we have customers, we will begin to manage our facility. Our service is cheaper, while also providing interaction with a younger generation. Our competition charges a much higher rate and does not connect the older generations to the younger. We will also be able to cut costs by having the college students work as maintenance, housekeeping, cooking assistants, and activity coordinators.