Products for Senior citizens
Are you aware that the people of elderly people in India is close to 12 crore? The figure is bigger than the combined population of British and Canada. The growth price of senior population is double the development price of Indian populace, and senior populace probably will meet or exceed 17 crore by 2026.
Whenever Rahul Gupta switched 50, he began contemplating seniors. Rahul is a part of a big prolonged family circle and it has experienced the battle of older people, with several of their standard requirements staying unfulfilled.
Many years ago, while he was using a personal telecom company, Rahul made a decision to quit his job and commence his very own endeavor. The staggering senior population provides a huge space for startups providing answers to this specific age-group. Rahul along with his colleague, MP Deepu, were mulling over several some ideas and chose to build a startup which was likely to be rewarding and with good personal influence.
Final October, Rahul and Deepu founded SeniorWorld, a system that suits the overall requirements of seniors. It has introduced 'easyfone', a phone created especially for senior folks. The startup normally slated to introduce other services and products, eg garments, restroom mats and other elderly-friendly items.
“Probably the need of making an even more senior-friendly ecosystem for myself whenever I would enter the 60-plus team generated the development of this startup, ” jokes Rahul.
The theory is enable elderly people to live more energetic, engaged, independent and rewarding resides. Away from supplying services and products, Seniorworld also provides content and involvement ways for senior individuals. Its Facebook senior community continues to grow at a rate and from now on has actually a residential area of over 33, 000. “This is probably the many engaged neighborhood on Facebook in India depending on the benchmarking that people were able to do with tools supplied by separate providers.”
Speaking about their leading product, Rahul states that easyfone has been fashioned with the twin objective of improving autonomy as well as safety for seniors, two things being important to all of them. The phone features raised, back-lit keys, eight picture contacts for simple dialing, an SOS option that produces a siren telephone call and SMS to five associates, giving out area and medical information, magnifier, torch and lots of various other solutions.
“While progressively seniors are following smartphones, numerous seniors, especially in the 70+ age bracket, challenge despite basic mobile phones, because of age related dilemmas. We now have seniors spanning this selection of 65 to 95 who will be making use of the easyfone; and some seniors, it is their particular very first mobile, that is hugely liberating for them and incredibly heartening for all of us, ” says Rahul.
Development figures
Rahul claims the reaction happens to be really encouraging in four months’ time, with monthly sales growing by 35 per cent thirty days on thirty days.
The working platform is self-funded therefore the financial investment when you look at the organization happens to be close to Rs 1.5 crore thus far, which was spent on team building, product development, marketing and easyfone stock. Current staff measurements of the endeavor stands at 11.
“We consistently commit, much more people are joining into the coming months. We have even more product releases coming in next 90 days when you look at the technology and health space. From a revenue point of view, our target is always to hit a run price of $1 million by Dec 2016, ” states Rahul.
Marketplace and competition
Relating to a harsh estimate, it's a Rs 35, 000-crore segregated marketplace for the products, that is set-to grow at a CAG of 29 percent to Rs 96, 000 crore in impending years.
In past times couple of years, many companies have actually registered the portion. Startups like Goodhands, Senior Shelf, Pramati Care, SeniorWorld, and gold Talkies serve all of the requirements of this senior population and have already been launched by ‘younger’ individuals after their particular bad experiences related to take care of their particular elderly family relations.
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