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Starting Innovative Old Age Home – a Futuristic Small Business Model for 21st
Century

Conference Paper · May 2016

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 Managema 2016‐ National Conference on Changing Perspectives 2016

PAPER 18

Starting Innovative Old Age Home – a Futuristic Small Business

Model for 21st Century
Dr. P. S. Aithal

Srinivas Institute of Management Studies, Pandeshwar, Mangalore - 575 001, INDIA

E-mail : psaithal@gmail.com

ABSTRACT

It is customary that as competition in existing business increases, organizations

and entrepreneurs search for new business opportunities. Identifying new
business opportunity is a continuous challenge to new and existing
entrepreneurs. Due to changes in family structures from joint families to nuclear
families in India, a new business opportunity is emerging in the country. This
new opportunity of starting old age home is open for small business player as
well as corporate business players. Due to changing social structure and the
need, the percentage of employed people in a family is increased and as a result,
we are landing into a situation where retired old people will not get family care
in their home and are neglected. Since they get pensions periodically the new
model of ‘Old age home’ business will attract them to join in an effort of getting
care, peace and nursing service with comfortable food and other services to be
happy at their old age. It is expected that promoting old age home business is
going to be altogether a multi-billion dollar business in both developed and
developing country. In this paper, we have discussed the opportunities,
challenges and the skills required to start and maintain this business as a
sustainable long term business for innovative and service oriented
entrepreneurs.

Keywords : New business opportunity, Small business opportunity, Old age

home.

Srinivas Institute of Management Studies, Mangalore Page 1

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