HRMARS - Purpose - The purpose of this paper is to identify and analyze the key elements involved in developing a business plan for the successful commercialization of an elderly caregiving training center, using Company A as a case reference. Design / Methodology/ Approach – This study adopts an action research design using a mixed-method approach, combining qualitative insights from a semi-structured interview with the founder of Company A and quantitative data from market research. The data was analyzed thematically and organized into six core business plan components: industry analysis, market analysis, business description, marketing plan, operational plan, and financial plan. Findings – The findings demonstrate how each component was systematically developed through a combination of market validation and founder insights. The industry analysis and market analysis provided a foundation for identifying service gaps and customer needs, while the business description clarified the training center’s unique value proposition. Marketing, operational, and financial plans were then formulated to align with identified market demands, resource capabilities, and sustainability goals. Together, these elements formed a cohesive and actionable business plan tailored to the context of elderly caregiving training. Practical Implications – The structured business plan approach presented in this study offers a practical guidance not only for caregiving training providers but also for entrepreneurs and organizations in other sectors aiming to commercialize new services or programs. The framework can support clearer planning, stronger market alignment, and more sustainable implementation across diverse industries. Originality / Value – While business planning and commercialization frameworks are widely applied in product- based ventures, their use in service-oriented models like elderly caregiving remains limited. This study addresses that gap by demonstrating how a structured, research-driven business plan can support the successful commercialization of a caregiving training center.
Yoke et al. (Thu,) studied this question.