Executive Summary
The day care center will begin operating in a few months' time. The center aims to provide high-quality services for the elderly at a cheaper and affordable rate. The center will target elders from all social and economic backgrounds. The target group is people who are above 65 years of age. By the beginning of next year, the center aims to have grown significantly. The main objective is to have the capacity to care for fifty elderly people and have fifteen qualified personnel. The main goal, however, is to gain control of the market over the competitors. That can be done by providing the best terms of service at reasonable prices and ensuring that those clients within the center get the best attention possible.
Economic Projections
In the recent past, there has been an influx of the number of people who are employed far from their homes. For such people, looking after the elderly in their homes becomes difficult as they spend most of the hours away. Traditionally, women used to take care for the elderly as the men went to jobs. However, current trends show that the number of women who are employed has risen significantly. Should the trends continue into next year, then there is a possibility that many working class people will require professional daycare services for the elderly. Also, employment means that most people have the financial abilities to take their elderly to formal settings for care. Previously, there have been cases where care for the elderly is arranged informally and they are entrusted to a relative or a family member. With enough money, people would want to have their people in safe and professional hands (Berkowitz, 2016).
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The Market
In health care setting, a good number of parents and grandparents to professionals make up the market. The day care center will be situated near a large hospital so as to serve the people who work there. It is easier for the center and the caregivers to organize for critical meetings such as when a client falls sick, when the care providers notice conditions that require urgent attention, among others. Young and single people who work in health centers are the main target as they spend much of their time at work. Elders who are cared for by the nurses, doctors, nutritionists, pharmacists, and physiotherapists are some of the targets. Other than the health care providers, the center also targets parents who are ill and want good care for their elderly. Other potential customers are the parents and grandparents to health insurance employees and the subordinate staff. There are many people aged more sixty five and above; our target is to have a capacity of at least clients a day.
Trend Analysis
The day care industry has grown significantly over the past two decades. According to the IBIS World (2016), the industry has grown annually by 1.5% between 2011-16. It is still a growing industry, given the demand for affordable services from most people who provide care for adults. There are close to a million day care businesses in the country. However, IBIS (2016) states that the industry has seen a fall in growth due to high prices, making most people to opt for other alternatives.
Competition
There are a number of daycare centers in the area. There are also national chains and home-based care providers who have a significant standing in the area. They boast a good customer base and have been in existence for over five years. However, the home-based care providers offer services at higher costs while the national chains have a reputation of poor services. One of the other daycares has been sued severally for poor hygienic and sanitation conditions whereas the other provides services for elderly women only. We aim at providing better quality services at an affordable cost for the male and female elders. Also, with a distance of about a hundred meters from the hospital, our daycare is suitablylocated as compared to others that are far away from the hospital. It is easier for workers to drop and pick their people at the facility.
Problems and Opportunities
The industry has difficulties given the high costs for the people who leave their loved ones behind. That may affect our center as most people may choose to make informal arrangements with relatives and friends (Berkowitz, 2016). On the other hand, there are opportunities, especially for the elderly male. Most of the care centers around do not offer services for the male. We aim to fill the gap with programs for them.
Objectives and Goals
We aim to reach the fifty-a-day mark by next year. There is a high demand for the services and we have put in place mechanisms to meet the people's needs. We project a fifty capacity facility by next year. In the next three to five years, we look forward to steady growth. Our aim is to have a number of branches in various states.
Action Programs
We have to market the day care center to the potential customers. Print, electronic, and social media are our main channels of communications. There will also be a set-up of the facility, with various sections for people with critical conditions. The professional employees will be assigned a number of clients each. They have to take care of the elderly, keep their records, maintain their progress reports and report any issues of concern to the management and the working people where need be.
References ;
Berkowitz, E. N. (2016). Essentials of health care marketing. (4 th Ed.). Jones & Bartlett Publishers. Print
Day Care in the US: Market Research Report. (2016). Retrieved June 2, 2017 from: https://www.ibisworld.com/industry/default.aspx?indid=1618&partnerid=ValuationResources
