My Way Village
INVESTMENT PACKAGING, CONSULTATION
Successful Capital Raise
The mission of MyWay Village (MWV) is to enhance the lives of seniors by empowering them to connect with family, friends and community. After caring for aging relatives from a distance, the Company’s founders Chris McWade and Sarah Hoit realized in 2006 that simplified computer technologies combined with personalized support services could significantly improve the qua- lity of life for a large, growing portion of the population. Today, MWV has developed an industry-changing solution for solving the considerable pain, loneliness and isolation that seniors and their caregivers face. While there are many online services and training software programs aimed at the senior market, only MWV integrates the power of social networking with a significant personalized support network to facilitate seniors entering the information superhighway at their own pace. This approach is highly disruptive to all existing online social networking business models that target seniors.
In early 2008, the Company conducted a pilot in a senior living community in Quincy MA that combined a simplified social networking web application with personal instruction and training from a team of “Ambassadors.” The pilot, which brought computer / Internet usage in the community from 2% to 34% in just four months, gained the attention of senior executives at Brookdale Senior Living, America’s largest private provider of assisted and independent living communities (BKD:NYSE).
MWV signed a three year agreement in August 2008 to bring its Connected Living program to ten Brookdale communities with a potential to expand to an additional 540 communities. MWV is signing up additional senior living providers (total market: 15,600 US communities serving 1.9 million seniors) and is negotiating with large marketing partners to get to the 36.8 million seniors aging at home as well as 8.5 million remote caregivers/family members. MWV aims to be the nation’s largest provider of connectivity services and training for seniors by 2012.
Products & Services
MyWay Village combines simplified Internet applications with superior user training and support to get seniors online. The Company’s Connected Living products help seniors connect better with family, caregivers, friends and community. For those seniors who face depression from loss of control or isolation, Connected Living products provide stimulation, learning and im- proved quality of life. The Company’s products also help caregivers (usually Baby Boomers looking after aging parents) increase their peace of mind and reduce their guilt of separation by creating easier connections with their parents.
MWV’s simplified web application and training focus on basic functions (messaging, calendaring, sharing photos, recording me- mories, etc.), but the Company also offers a number of high value premium services (such as storing health and financial records, and helping Seniors write memoirs) that are highly valued by a loyal customer base.
MyWay Village, Inc. offers Connected Living on a monthly subscription basis to senior living communities or individual families. Connected Living programs include access to a secure, co-branded private network, high-touch customer support and optio- nal training. MWV also up-sells additional products including Connected Living classes at senior living communities, personal ambassador sessions to help seniors write their memoirs, practice brain fitness, etc., and other premium services. The value of an average client order to date is roughly $250K per senior living community based on a three year agreement, or roughly $25 per resident per month including up-sell services. Within 36 months, MWV intends to serve 400 senior living communities. The Company also intends to offer monthly subscriptions to seniors aging at home and their family/caregivers. With a projected 20 month average customer lifetime and monthly average revenue per user of $17, MWV values each family subscription to be worth $340.