Business Plan Entertainment club for old age people Activity Centre

Submitted to:Dr. Anjani Kumar Singh

Submitted by:Amarpreet Kaur MBA-E Roll No-2

Executive Summary
1. Executive Summary 1.1 The Idea This will be a first of its kind, Activity Centre for people in the age group of 50+. The name Inayat is chosen because of bounty, kindness , favour what aged people always need. It is a niche offering because of the lower cap of minimum 50 years on age. The centre will be a place where they can pursue their hobbies and find their passion once they are done with their core responsibilities towards their family. The idea is to provide a place where they can network with people their age, share concerns, form interest groups and spend their time fruitfully, thus feeling a sense of achievement. 1.2 Current offerings in the market Competition is intense for the kind of experiences being provided by the various clubs for shifting lifestyle segments. Many different organizations and businesses are trying to peel away customers for food and recreational and leisure choices.

1.3 Clubs Mission and Vision

Mission
Our mission is to offer a single stop solution to senior citizens thereby leading them towards a more fulfilling and youthful life. A happy, very satisfied, loyal membership is the primary goal of club . The vision is for this to be a place where members, their families, and guests can always find a pleasant atmosphere, have lively fellowship.

2. Value Proposition
The club is introduced to change welfare type old system into social security. The basic idea behind this is to promote socialisation of service of aged people. The club is pitched as lifestyle choice for senior citizens who want to retain their independence. The purpose of club is to provide Various literature activities- For old aged people we will be providing programs to them enhance their literature art knowledge. We also plan to have one library where they can get all the material easily. Well also conduct periodic workshops on Nutrition, Health and Fitness, Spiritualism, etc. These will be held on weekends, i.e. Saturdays and Sundays. There will be a nominal entry fee charged to attendees. Pharmaceutical companies, Nutritional products companies, organizations like art of living will be allowed to use this platform to advertise. This medium will help them as their target audience will be easily found here. This will also serve as another source of revenue for the club.

 Formal dining and social activities- Well also provide formal dining facility where they can spend time in first class amenities and services. As clubs well be assessing where potential lies and attempt to zero-in on new opportunities Physio therapy and health centre- For this purpose we are planning to have tie-ups with various therapists, doctors so as to cater quality services with due care. For this purpose we also have wellness centre where these activities will be conducted under experts supervision. Other activities- religious tours for the members two or three times in a year. This also include informal get together of friends where they can share and rejuvenate their memories and also cherish the fun time. Health facilities:- Physical exercises like yoga & little physical exercise for their healthy living. Organizing the recreational activities such as group and discussion, symposium Film show & Entertainment, photography workshops . Organizing games & sports appropriate to old age people. Involvement of others management activities.

3. Current Demographics of aging people

For the projections, we have used the 2001 census age data published by the Registrar General of India as the base population . The old-old are projected to increase five-fold during 20012051 - from 29 million in 2001 to 132 million in 2051. This dramatic growth in numbers and proportions, increased life expectancies, and energetic life styles, now enables us to live 20 to 25% of our lives in active retirement.

PARTICULARS 60 and above Numbers (in million) Percentage to the total population Sex Ratio (males per 1000 females)

2001

2011

77 7.5 1028

96 8.2 1034

Opportunity:- In India specifically McKinsey source notes that spending on the means to
improve quality of life by the age group of 50+ will rise significantly and take on a greater share than they do in other countries. For eg. Spending on health clubs should grow by almost 10% per year and account for 13% of Indian households consumption by 2025 , which is a larger share in various countries . But this represent the core market for clubs. The reasons which entice the entertainment clubs for old age people: More single living. In part a singles, we expect that almost half of Boomer households are likely to be headed by single persons. Greater need for social connectedness. With greater numbers of singles and with traditional sources of community, such as neighbourhood and religion, waning in influence, many Boomers are likely to be searching for new sources of communityand this can mean a new openness to the appeal of club. Increased cultivation of interests. Individual pursuits like symposiums, cinema, and, yes, golf will assert themselves as important organizing principles for not only leisure, but bigger aspirations linked to personal development. This is a big opportunity for this club as the prospect is belonged to an engaged and active community. So, real opportunity exists now for those targeting this 50- to 65-year-old.

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