Question

You can choose one (1) of the two questions below. You can also answer both if you want to. Question #1: You have been given the task of developing a new service business idea for a potential client. Brainstorm and list as many as 5 new service business ideas as you can. There are only a few rules: 1. All ideas are acceptable at this stage. 2. Nothing should be ruled out as silly, impractical, or even antisocial. 3. Improvements in existing services should also be listed. 4. Do not consider cost or practicality. This service must appeal to again "Baby-Boomers" people 50 years or older, who work in professional or high-level corporation careers. They work an average 60-80 hour week and make a minimum of $100,000 per year. They like to look good, be social, and stay healthy. Time is a big issue for them. Helpful Tip: Think of problems these folks may have that could be solved by a service e.g. personal dry cleaning service (can't use this example) Question #2: Imagine you are considering starting your own business or owning a franchise. 1. What kinds of products or services will you offer? 2. What talents or skills do you need to run the business? 3. Do you have all the skills and resources to start the business, or will you need to find one or more partners? If so, what skills would your partners need to have? 4. What form of business ownership would you choose - sole proprietorship, partnership, C corporation, S corporation or LLC? If you chose to own a franchise, which one would you chose? What are some ways that you can stay successful?

3

Answer 1

Profile of person-

Age-50 years or older.

Working days-5 days per week

Working hours per week-60-80 hours

Working hours per day-12-16 hours

Minimum hours required to sleep to stay healthy-7 hours

Breakup of time (weekdays):::: Breakup of time (weekend)::::

Total hours 24 24 Total hours 24

Work    (12) (16) Work    0

Sleep    (7)    (7) Sleep 8   

Balance 5    1 Balance    16

Five business ideas to cater to the needs of such persons-

1) Investment services-

a) Weekend Investment services- whereby investment advisor will visit the client and offer guidance considering the age, financial requirement for future, risk Appetite, etc.The investment advisor after profiling the investors financial requirement , risk Appetite, can prepare a detailed investment report (client wise) for his/her consideration.

b) Such report should clearly specify the best investment options with associated risk and return.

2) Home based food delivery services-

Diet based food delivery services considering each individual's age, dietary requirement, weight, history of health related problems like obesity, diabetic, other chronic or non-chronic diseases.

3) Health services-

Due to extreme busy life schedule, there will be various health issues.

a)Yoga class-

Various yoga /asanas can practiced under the guidance of expert instructor during weekend.
b)Spa and massage services .

4) Maintenance Services -

a)It will take care of all vehicles, electrical and electronic gadgets, other household gadgets where service/maintenance will be required either on annual/half yearly/ monthly basis.

b) In case of break down of any of the above mentioned items, maintenance service will be provided by qualified technician within stipulated turnaround time.

c) In case of Vehicle breakdown, if service can not be provided due to remote location, the service provider must locate another service provider and pass on the work.

5) Housekeeping service-

Housekeeping and maintenance service including repair work of civil and electrical nature.Complete A to Z solution under one umbrella.