New England Senior Advisors | Application Preview
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General Information
Business Registration Number: 001764186
Location: Newport, RI, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: YES
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Funding Usage
I will use this funding to develop a more comprehensive website that is client facing and has a partnership section. Funding will also support strategic marketing initiatives to further generate revenue in my local market and expand market presence for growth. This includes holding educational events, print advertising, social advertising, supporting my ongoing radio show (to be a podcast) and industry events. In year two I will hire admin support and potentially need an office. I will also work to build out a franchise model after I generate 100K + in revenue starting locally.
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Business Plan
Over the next five years I plan to grow the business from less than 100,000 to $1 million+ in revenue. How will I do this: Position the company as an independent advisor company that helps older adults/adult children navigate through the complex maze of decisions necessary to age-in-place at home or at a residential senior living community. This will save time and money and help empower seniors to make informed choices for a better quality of life throughout the aging process. Customer Experience: I have built a “CareCloud” of local referral partners including residential senior living communities, elder law attorneys, reverse mortgage experts, senior centers, home health agencies, physicians, home mobility experts, financial planners and more. Our CareCloud enables Peace of Mind Referrals (New England Senior Advisors) to be a one-stop trusted expert with the right resources to help aging adults where they live. Expanding Market Reach: Initially I am geographically focusing where I live in Newport, RI and cities and towns in RI. Funding will help grow and drive traffic and conversions for clients and partners on the web and locally. I further see the opportunity to franchise the business to recruit other advisors to generate incremental revenue with a goal to build out the franchise model in year two. Marketing: Marketing focuses on sharing knowledge that empowers older adults and adult children with information to age successfully with a call to action to schedule a complimentary 30 minute consultation. I started an AM radio show called RI Senior Matters that airs 1x per month on WADK. I am running radio ads. This show features referral partners and how their services can benefit seniors as well as local seniors sharing their stories on successful aging. This content can be used for web, email and social. Marketing also will include print and digital and will expand geographically as the business expands. Print includes creating rack cards for doctors offices, brochures as well as print ads. Online and in-person events will also be developed and used as calls to action and to optimize the CareCloud relationship while driving new business regionally. Staffing: In year two or sooner, I will hire an office manager to help drive the day to day admin of the business. Addressable Need: Research from state and national resources tells us that there is a massive aging population that isn’t prepared with tools and guidance needed to ensure success throughout the aging spectrum. Personal qualifications: Beyond providing support for my parents in their later years, I have extensive experience in RI senior living as an area sales director for a large senior living provider. I worked with hundreds of local families connecting them with the resources to make informed decisions. I developed lasting relationships with organizations such as the Edward King House in Newport and others who have welcomed my new business as a necessity in RI. I also worked at the regional sales levels overseeing sales and marketing for multiple senior living communities, exceeding sales goals while reporting to Real Estate Investment Trusts (investors). It was at that time I began to realize my services would be more worthwhile and life enriching to help seniors and the greater community locally. Creative agency experience will also serve this endeavor well from a marketing and outreach perspective. I am also a Certified Senior Advisor. Vision and Innovation: My vision is to empower aging by providing the tools, resources and support needed to maintain independence, dignity and quality of life. I will do this through personal consulting leadership and by connecting older adults to vetted local public and private resources to ensure they have all they need to make educated decisions that are relevant to their personal needs and financial ability. Execution Ability: I have a track record of turning goals into action and revenue. I have the ability and track record of successfully working with company turn-arounds and new senior living communities. I am resilient, have the ability to look at data and pivot quickly when things aren’t working. Values: We are interconnected as people regardless of age. Throughout my life I have been called to be personally responsible to support and lift up others with integrity, compassion, courage and accountability.
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Self Identified Competition
1. Senior Living Placement franchises such as Care Patrol and Senior Living Locators. These franchises focus on senior living placement and do not provide the in depth advisor network. They offer support and training to franchisees often time senior living sales training which I am experienced at. 2. Geriatric Care Managers - excel when care planning is the critical focus. Carefully vet senior living communities and all care options. 3. A Place for Mom - SEO might causes confusion to older adults in the marketplace but shouldn't be overlooked as they are first in SEO and position themselves as advisors that actually refer based on geography and if a community has a contract with them. We empower older adults with innovative choices to improve quality of life. What makes us different is that we take the time to listen and get to know a person and outline a flexible continuum of support that is tailored to an individual's needs, preferences and finances. We help put together a continuum of support with a level of detail that is unmatched by our competitors. We believe this business model will be repeatable and are looking to build an online referral network that puts key resources in the hands of older adults with trained advisors strategically located in RI and later throughout New England. What is happening in Newport, RI is a microcosm of a larger plan to empower aging.
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