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unique concepts 2010-12-15

Haven For Aged: Boon for Aspirants

With franchising fast becoming the most popular business models in India, new concepts are being introduced every now and then to franchise arena in the country. One such unique business idea is the franchising of homes for comfort of aged people, which h

By Sub Editor
Haven For Aged: Boon for Aspirants

Old age home considered a taboo in Indian conservative society is finally gaining a business appeal. Old age home franchising, a unique business venture is offering lucrative franchise opportunities for the aspirants. However, the concept, well-accepted in western world is gradually gaining grounds in India as well. The foray of entrepreneurs in this business concept is sure to turn old age home franchising into a profitable business venture, witnessing its huge untapped potential. This article is a must read for the aspirants trying to venture into a unique franchise concept.

Need of Second Home

Team Ventures Private Limited (TVPL), a Hyderabad based company offers first of its kind of a home for old and retired people. Better known as ‘2nd Innings Home’ is an inspiration from the movie ‘Lage Raho Munnabhai’ informs Anil Kumar, Founder and Promoter, TVPL. Keeping in mind the increasing crime rate and murder of affluent but aged residents, who have no one to protect them, the old age home franchising concept is a sure success.

Presently there are many old age homes in India but none of them can boast of offering the best services to its residents. This can be one of the reasons of not opening such business ventures by private companies. However, TVPL has taken the initiative of beginning this business and taking the franchise route for the expansion of such homes. As informed by Kumar, “It is not an old age home but a home for providing security to aged people. I started this unique but useful business venture keeping in mind the insecurities and problems being faced by retired people whose children are NRI’s. They can always give financial help to their aged parents but cannot offer them security. This was the major reason of starting such an establishment.” Many Indians have settled abroad. They provide their parents with sufficient money for a comfortable living but cannot give them the care, protection and love they want. For such parents, 2nd Innings Home can be a perfect place to spend and enjoy their old age.

Future in franchising

With more and more Indians being settled in the foreign nations, there is a growing need for protection and security of their old parents staying alone. The aged become easy targets for criminals. Therefore, there is a dire need of protection for such people. In such a scenario, the concept of old age home is gaining popularity in the Indian franchise arena as they have taken the franchise route for future expansion. Prospective entrepreneurs can see large untapped potential in it and are sure to reap numerous benefits from it. As informed by Kumar, “We are keener on taking the franchise route as a local franchisee can understand the market and local area well. We may not know how and where to set up the homes in pan India. However the local partners can do so well.”

Prerequisites for franchisees

Presently, TVPL has one home which is sprawled across 25 acres of land in Hyderabad. The company plans to have a pan India presence soon by the franchise route. Establishing 2nd Inning Home is not an easy job as it requires a lot of investment in the initial stages by the entrepreneurs. However as informed by Kumar, “If an aspiring entrepreneur comes who owns a large piece of land, we will provide him with the capital to start the home. Moreover if he has investment, we will help in fetching good land.” Therefore starting a home for aged is not a difficult task if the entrepreneurs have capital or land.

Flip side of the coin

With changing lifestyle, the concept of 2nd Innings Home is the need of the hour in Indian society, but it may be difficult to convince who still consider it against their principles to send their parents to separate homes. One of the most challenging tasks is to convince the people to change their mind set and accept the new concept for its benefits. Kumar admits, “We are not promoting such a concept but it can give a cultural shock to many of us. However, it is especially for NRI’s who are not physically there to take care of their parents.”

To conclude, old age franchising is gaining prominence and only time will foretell the potential of such unique franchise concept. Aspiring entrepreneurs must gear up to tap the opportunity of the new concept.

Comment
Nitin Tanwar : 03, Sep 2010 at 09:53 AM
hellooooooooooooo
rahul aggarwal : 03, Sep 2010 at 10:36 AM
kindly give me your contact number. i am intersted in your offer .i have more than 1000 sq ft of space in posh area of delhi and my family is in jewellery bussiness from last 50 years.
Ravindran : 04, Sep 2010 at 06:11 AM
I kindly request you to give me your contact no. and address. I am interested in your offer and the location at Palakkad Dt. in Kerala.I am an NRE.
S.S.Ghosh : 05, Sep 2010 at 11:04 PM
A matrimonial Ad Service on Internet like Matrimonial Ad service on News paper with an extended service to Non-User of computer but wish to take advantage of Internet. We are running a scheme of Lucky Dip bimonthly for the user. To participate in our scheme, you need to pay nothing except the Gift. We shall publish your organisation’s name on our site and also communicate to the caller as Gift sponsor by “ Name of your organisation”
S.S.Ghosh : 07, Sep 2010 at 04:06 AM
Thank you for you quick reply.
mukeshjain : 08, Sep 2010 at 08:53 AM
kindly give me your contact number.ihave space 350 carpet in posh area of mumbai ghatkopar [e] and my family is in jewellery business from last 35years
Sandeep baid : 24, Sep 2010 at 06:31 AM
Myself a 29 year old graduate currently working in hair accessories field want to open an artificial jewellery showroom in raipur <C.G.>.I can invest upto 10-20 lac.So please give me the details.
Bharat Ojha : 16, Dec 2010 at 07:50 AM
Interested in Imitation ornaments business, kindly mail me the proposal with marginal profits and commercial requirements
navin Bairoliya : 04, Feb 2011 at 10:57 PM
Interested in Imitation ornaments business, kindly mail me the proposal with marginal profits and commercial requirements
Ms.Kamal sharma : 14, May 2011 at 11:51 AM
Hi, I am a fashion designer and I want to take franchisee jewellary bussiness in jaipur pls send me how i need how mush investment is needed and pls send me your product detail with price
Rashmi : 16, Mar 2012 at 11:29 AM
Resonale all types of Immitation Jewellery in retail price and export quality and number of varities avaliable for business purpose.
rashmi : 16, Mar 2012 at 11:31 AM
Resonale all types of Immitation Jewellery in retail price and export quality and number of varities avaliable for business purpose.
Harvinder Kaur : 07, Apr 2012 at 02:00 PM
Interested in dealing in fashion jewellery as a business in Chandigarh and UK.
Asif : 13, Feb 2015 at 04:38 PM
Can you please send us your proposal.Thanks & regardsAsif
Alok : 24, May 2015 at 08:26 PM
Kindly share your contact number. I am interested to work with you.I have space in market area of Kanpur and my family is in jewellery business from last 10 years.
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