24A - Venture Concept No. 1

Opportunity: With death being one of the only guarantees in this world, there's a lot of opportunities within the aging population. Those around the age of 55-75 that are getting close to retirement or currently struggling through it are the ones with an un-met need that I'm in the process of addressing. Retirement can be terrifying if one doesn't have the necessary funds needed to sustain themselves and their loved ones. The nature of the need is reducing current and future expenses while creating an extra source of income for those who need it most to live comfortably. This hasn't been as big of an issue until now as 1/3 of baby boomers report they have nothing saved up for retirement. The demographic focuses dominantly on the United States, but could expand to other countries when the time is right. 401K's and IRA's are not as common as they used to be and has been failing to satisfy the needs of those looking to retire. There is a disconnect of loyalty there, but those who do have a plan in place seemingly remain loyal for the most part. This is a fairly big opportunity, and one that I'd expect to keep growing in the coming decades. Until the economy and government spending is restructured this opportunity will remain open and possibly continue to widen.


Innovation: My innovation is a financial firm that focuses on reducing current and future expenses while create another source of income through a wide range of assets. In retirement, the biggest expenses one will face is most likely to be medical bills. With one of our main focuses being to reduce future expenses, we'll look to create a network of medical minded gyms that target people in poor health and heavily reliant on prescription drugs. Through expert training, rehabilitating clients for better health can reduce the amount of drugs they need to take and reduce avoidable health issues in hopes to free up extra cash for retirement. By reducing some of the biggest bills one might face, they'll have more free money to invest in a specialized hedge funds with expected returns from anywhere between 5% and 15%. In order to make this a profitable business for me, I would profit off a percentage of the returns my clients pull in. There isn't a set number for income for my opportunity, but as the business grows, so will my profits.


Venture Concept: As more people near the age of retirement and realize they don't have the funds necessary to live out the rest of their lives comfortably, the greater the demand will be for my service. As 401K's and IRA's become less popular, alternative methods will be on the rise, and my service is positioned to help out my clients in an array of aspects and not just finically. My clients probably never had a retirement saving plan, so getting my clients to switch wouldn't be a huge concern. My clients would most likely be looking for a last ditch effort to make some supplemental income and would be willing to give it a test run. My competitors would be sparse in the exact same market, although I would receive some competition from outside industries, like banks and their mutual funds. My business would be organized based off simplicity and the ability to be used easily and seamlessly with someones existing life. The idea seems feasible on paper, but the implication of the whole thing will be easier said than done. The start up will be the biggest obstacle to overcome and could expose some weaknesses and vulnerabilities. The overarching culture my business looks to inspire is thoughtfulness and caring for others. The whole goal of the opportunity is to create a positive experience for all.


The human capital that I have will carry me far and position my business above the others. Having connections in the medical field, investing field and real estate field will give me a leg up on my competitors as the start up process will be more streamline. My opportunity basically mixes the world of health and wellness with investing and having experts in both fields gives me an advantage. Since the fields are so different from one another, my competitors probably won't have the best of both worlds and will struggle on one end or the other as they begin their opportunity.


Eventually, I would look to expand to service everybody and shift from a retirement plan to an investment plan that helps people at all stages of life and situations. Once this opportunity is solidified within the realms I have outlined above, expanding my clientele will increase my reach and that would lead to increased profits. Starting with people aged 55-75, I would look to service people aged 18-to 25 next, then eventually moving into a service for all ages. I chose 18 to 25 year olds for my next reach because they don't receive enough education on the matter and could benefit greatly from investments made early on.


Within five years of launching this opportunity, I want to be at the quality control level assuring the service I have developed and implemented is operating smoothly. There's nothing worse than signing up for a service and see it start to reduce its values and perks, so I would make sure the service stays the same and provides the same value to my clients on day 100 as day 1. Maintaining and providing a consistent service to my clients is a huge priority for me. while maintaining a consistent service, I don't ever want to be satisfied with how far I've come. Additionally, within fives years of launching, I would like to have expanded my clientele and service people of all ages, but for the time being, I think focusing on retirees is my best entry point for a business like mine.