Nationwide there are 20,000 retirement communities with 2.5 million residents. They range from assisted living complexes to continuing care facilities, congregate care housing and senior apartments. Senior-based communities are projected to increase dramatically in coming years as more and more Baby Boomers begin to retire. The company's agents will act as personal Internet shoppers for seniors via speakerphone, so that subscribers won't have to master the ins and outs of the Web to enjoy the benefits of e-commerce or feel secure about their purchases. The company expects to expand its agent model for delivering other online services.
Advertising is the third revenue source.
ElderVision will sell advertising space on its TouchTown Today online newspaper . TouchTown Today has the potential to become a powerful medium for reaching a large and established market. Also in the works is the ElderVision Foundation, which Mr. Pepper is forming as a parallel nonprofit organization to advance quality of life for seniors on multiple fronts. The company's philanthropic arm will provide goods and services to eldercare institutions. The foundation, which will hold a substantial portion of the stock in ElderVision, will also provide seed money to fund new programs and online initiatives working with the elderly.