Franchising to Assist the Senior Citizens
India has a vast senior population. The senior population forms 8.5% of the total Indian Population which is approximately 103.9 million.
There are a large number of these elderly people who live alone without any support. These people need some kind of assistance in their daily lives. People living abroad but who care for their parents living alone in India wish to help them with their daily tasks as well as during emergencies. This has given birth to a new market to cater to.
India Assist has brought a mobile app that aims at providing assistance to elderly citizens in almost all areas. It is a trusted and reliable 24/7 app for senior citizens' assistance and care. It offers emergency services, in-person assistance, booking assistance, a free helpline, and medical support at the press of a button from the app.
India Assist: 24/7 App for Senior Citizens’ Assistance
India Assist is one of a kind app that acts as a platform for all needs of the seniors who stay away from their children. It bridges the gap and provides assistance and smoothly handles emergencies.
In India, seniors face several issues such as security, loneliness, day-to-day hassles, someone to take care of daily needs, and a sudden drop in health. India Assist is a platform that solves these issues for those living alone.
It caters to medical needs either emergencies or regular appointments and non-medical needs like bills payment, repair shops, banking, etc. It also sends across flowers and cakes on special occasions like anniversaries or birthdays.
Why Invest in India Assist?
The product is new and the market segment to be served is much in requirement of such a service. The total population of senior citizens living alone in India is about 39 million, which is a good market to serve. These seniors have good purchasing power and don’t mind spending where they get service.
Its product is a unique one that provides various services on subscription. It provides 4 times in-person assistance where a person from the company comes along for banking, regular check-ups, or any other daily chores.
India Assist is a trustworthy brand. All the staff as well as the franchisee have to get police verification. A background check is also done for all the staff appointed by the franchisee.
This opportunity is a low investment opportunity with low CAPEX and OPEX. But, the return on investments is high. There are multiple revenue streams with value-added services that attract profits and commissions.
Managed by professionals, this app from the brand is a subscription-based app. This automatically gives a recurring income to the franchisees on subscriptions.
Franchising with India Assist
India assist is looking for franchise partners mainly in metro cities where the senior population living alone is large.
Its business model has two parts. One is the technology platform where the call center connects at the touch of a button on the app for assistance. The other is the facility platform at the regional level. This regional fulfillment is done by the franchisees.
A franchisee is required to get product-based subscriptions and fulfill them. There is a need for non-medical and medical staff under each franchisee. Normally, 4 to 5 interns as ground staff will be appointed by the franchisee under its payroll. The staff under paramedics will be appointed and sent by the company for which the franchisee need not pay.
The company has tie-ups with various banks, hospitals, and insurance companies. The franchisee can also have tie-ups at the local level with hearing aid stores, eye check-up clinics, etc.
The overall marketing will be taken care of by the company.
The revenue sharing is based on getting subscriptions. If the franchisee gets the subscriptions, he/she gets 75% revenue and if the company gets the demand for the franchisee’s area, 20% is shared with the franchisee. Added revenue services will fetch 90% to the partner and 10% to the brand.
The brand provides complete assistance in terms of setup, training, technology, operations, and management. Training is given by the core team from India assist and there is a manual that describes all kinds of situations and how to deal with them. The store can set up in a month and a half. The break-even will be achieved in one year and three months.
Exponential growth is expected in the population of senior citizens who live alone. The need of the hour is such a platform that will cater to the requirements of the elderly to live independently. And a trustworthy brand is just what is required.
Edited By: Vaishnavi Gupta