# Business Feasibility Study: Personalized Patient Storyboards for Nursing Homes
## Executive Summary
This study examines the feasibility of creating personalized storyboards to be placed above nursing home residents' beds. The product aims to humanize patients, reduce abuse/neglect, and help families cope with transitioning loved ones to care facilities.
## Market Analysis
### Industry Trends
- Aging population driving growth in long-term care industry
- Increased focus on person-centered care and dignity in nursing homes
- Growing concern about elder abuse and neglect in care facilities
- Families seeking ways to stay connected with loved ones in nursing homes
### Target Market
- Nursing homes and long-term care facilities
- Families of nursing home residents
- Estimated 1.3 million nursing home residents in the US
## Economic Viability
### Projected Costs
- Design and production of customizable storyboard templates
- Website/app development for customization and ordering
- Marketing and customer acquisition
- Shipping and fulfillment
### Revenue Streams
- Direct sales to families
- Bulk orders from nursing homes/care facilities
- Optional add-ons and accessories
### Profit Margins
- Estimated 40-50% profit margin on each storyboard sold
- Higher margins possible with scale and bulk orders
## Key Resources and Capabilities
- Graphic design team for storyboard templates
- Web/app developers for customization platform
- Manufacturing/printing capabilities
- Customer service team
- Marketing expertise in healthcare and elder care sectors
## Risks and Challenges
- Securing partnerships with nursing homes for implementation
- Protecting resident privacy while sharing personal stories
- Ensuring durability and cleanliness of products in care settings
- Competing with existing personalization products for patient rooms
### Mitigation Strategies
- Develop relationships with nursing home administrators and showcase benefits
- Create clear guidelines for appropriate content and obtain proper consent
- Use antimicrobial materials and design for easy cleaning
- Focus on unique value proposition of humanizing patients and reducing neglect
## Conclusion
The proposed personalized storyboard product shows strong potential to address important needs in the nursing home industry. With a large and growing target market, multiple revenue streams, and alignment with industry trends, the business idea appears economically viable. While there are challenges to overcome, they can be mitigated with proper planning and execution.
## Recommendations
1. Conduct small-scale pilot testing in select nursing homes
2. Gather data on impact on patient care and family satisfaction
3. Refine product design based on feedback
4. Develop partnerships with nursing home chains for wider implementation
5. Consider expanding product line to serve other healthcare settings
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AI-powered feasibility studies for business ideasOpen# Business Feasibility Study: Personalized Patient Storyboards for Nursing Homes ## Executive Summary This study examines the feasibility of creating personalized storyboards to be placed above nursing home residents' beds. The product aims to humanize patients, reduce abuse/neglect, and help families cope with transitioning loved ones to care facilities. ## Market Analysis ### Industry Trends - Aging population driving growth in long-term care industry - Increased focus on person-centered care and dignity in nursing homes - Growing concern about elder abuse and neglect in care facilities - Families seeking ways to stay connected with loved ones in nursing homes ### Target Market - Nursing homes and long-term care facilities - Families of nursing home residents - Estimated 1.3 million nursing home residents in the US ## Economic Viability ### Projected Costs - Design and production of customizable storyboard templates - Website/app development for customization and ordering - Marketing and customer acquisition - Shipping and fulfillment ### Revenue Streams - Direct sales to families - Bulk orders from nursing homes/care facilities - Optional add-ons and accessories ### Profit Margins - Estimated 40-50% profit margin on each storyboard sold - Higher margins possible with scale and bulk orders ## Key Resources and Capabilities - Graphic design team for storyboard templates - Web/app developers for customization platform - Manufacturing/printing capabilities - Customer service team - Marketing expertise in healthcare and elder care sectors ## Risks and Challenges - Securing partnerships with nursing homes for implementation - Protecting resident privacy while sharing personal stories - Ensuring durability and cleanliness of products in care settings - Competing with existing personalization products for patient rooms ### Mitigation Strategies - Develop relationships with nursing home administrators and showcase benefits - Create clear guidelines for appropriate content and obtain proper consent - Use antimicrobial materials and design for easy cleaning - Focus on unique value proposition of humanizing patients and reducing neglect ## Conclusion The proposed personalized storyboard product shows strong potential to address important needs in the nursing home industry. With a large and growing target market, multiple revenue streams, and alignment with industry trends, the business idea appears economically viable. While there are challenges to overcome, they can be mitigated with proper planning and execution. ## Recommendations 1. Conduct small-scale pilot testing in select nursing homes 2. Gather data on impact on patient care and family satisfaction 3. Refine product design based on feedback 4. Develop partnerships with nursing home chains for wider implementation 5. Consider expanding product line to serve other healthcare settings
