Note: This article is part of my resource newsletters↗️ where I share insights on building in tech. Join me :)
👋 I’m Zoe Chew, a product builder. I’ve built & launched multiple apps using the rapid MVP method: sneaker app, personal FAQ, meal kit app, virtual event app, SaaS tracker, food delivery, content app +more
At VentureScale, I’m on a quest to understand the future of the Internet, and how builders can improve other people's lives by creating something valuable in the marketplace.
Today’s post is about wealth & health creation. If you’re interested in the curation economy & social communities — check out the previous report.
In this venture report, I break down 3 market opportunities:
- The future of private wealth management and family offices (Fintech)
- Democratize investment opportunities and helping everyday individuals to build wealth (Real estate investing, Fintech)
- Direct-to-consumer (D2C) for healthcare (Wellness tech)
Disclaimer: This report contains research-based tech trends, market analysis, product frameworks, and startup ideas to spark inspiration in building your next thing. The content is intended for informational purposes only. This information is not intended as tech investment advice.
Trend #1: The future of family offices and private wealth management will be remote
Family offices exist to help high-net-worth individuals (ie. $100 million+ in liquid assets) manage, preserve, and grow wealth. They help clients to establish an in-house team of experts to support their financial and personal needs.
Affluent individuals and influential families with vast fortunes seek private wealth managers for financial management, investment advisory, charity planning, tax strategy, accounting, and estate planning.
The rise of digitization opens up tremendous opportunities for virtual family offices. This means digitizing financial services delivery, portfolio management, investment planning, financial reporting, etc.
🚀 Takeaway
As wealth creation continues to develop in the younger generations (non-generational wealth holders), digital family offices will become more accessible for a broader range of wealthy and successful families, not just favoring the ultra-wealthy.
- (📥 Full version) See Startup Opportunity #1.
Trend #2: Crowdfunding platforms will continue to democratize investment opportunities and help individuals to build wealth
With equity crowdfunding platforms, individuals and even unaccredited investors will get a chance to invest their money in alternative asset classes (i.e. other than typical cash, stocks, and bonds).
For example, real estate crowdfunding. Companies like CrowdStreet, Fundrise, PeerStreet, and DiversifyFund (starting with as little as $500) are invented to connect investors with commercial real estate projects.
AngelList and Microventures allow individuals to access startup investments. Investors get paid based on the equity percentage they owned in the companies they have invested in.
Republic allows everyday investors to access a marketplace of alternative assets — startups, real estate, video games, and crypto.
🚀 Takeaway
Create solutions to help everyday individuals to own alternative asset classes. Provide due diligence and vehicles to diversify their portfolios.
- (📥 Full version) See Startup Opportunity #2.
Trend #3: Direct-to-consumer (D2C) for online pharmacy is changing the way consumers purchase healthcare products & services
Traditional pharmacy retailers are facing high competition and reduced margins, thus can’t afford to compete on the lower-cost value proposition.
Whereas D2C online healthcare brands are gaining popularity due to niche-focused ailments, personalized approach, and eliminate middlemen to ship their products at a lower cost.
Accessing diagnosis, prescriptions, clinical appointments, medications, and physicians are going digital.
Cove provides online treatment for migraine patients. Parsley Health provides online healthcare for patients with chronic conditions.
Without in-person visits, telehealth startups help eliminate social stigma for obtaining prescriptions related to sexual health (Roman, Rory) and hair loss (Keeps, Hims, Hers).
🚀 Takeaway
Create D2C brands for wellness focusing on the human potential and performance of knowledge professionals.
- (📥 Full version) See Startup Opportunity #3.
Startup Opportunity #1: Virtual office for private wealth management firms
Create a virtual operating system to help traditional family offices digitize their operations for clients. A platform that contains a suite of tools to help clients manage investment projects, financial tracking, portfolio management, contracting, advisory & collaboration.
For Who
- Family offices and private wealth management firms that are managing multiple wealthy clients (i.e. multi-family offices).
Problem
- Lack of collaboration & synergy. With a large team of advisors and different experts working on multiple projects for a wealthy client, it’s hard to keep track of the status & result of these projects. This creates slow communication and often loses sight of the client’s needs and goals.
Solution
- Cloud collaboration. A virtual family office management software that allows a team of advisors to collaborate, manage projects, and work together.
- Analytics & dashboard. Keep track of clients’ goals, metrics, financial performance, assets visualization, Return on Investment (ROI), and reporting.
Revenue Model
- Subscription. Charge family office organizations to access the full features of the platform.
Venture Scale
(1) Industries: Finance Management, Wealth Management, SaaS, Software
(2) Business model: Subscription
(3) Market potential: ◼️◼️◼️◼️◻️ (1) Significant growth in private wealth has created 12,000–15,000 new family offices around the world.
- (📥 Full version) 3 more research evidence to prove the validity of the market
(4) Execution strategy: (1) Start by identifying repetitive processes of running family offices and automating these workflows for potential clients.
- (📥 Full version) 2 more execution strategies to get started on this idea
(5) Moat: (1) Private wealth clients are highly concerned about data breaches, security, and privacy. Software providers who can provide data privacy & protection at the core will win the trust of family offices.
Want more? Get the full version of this single report:
🔑 Breakdown of Startup Opportunity #1 (Digitize private wealth management / SaaS)
🔑 Breakdown of Startup Opportunity #2 (Help everyday individuals to build wealth / Real Estate Tech)
🔑 Breakdown of Startup Opportunity #3 (Help people get back their energy and achieve the success they deserve / D2C Wellness Tech)
All 3 startup ideas combined, you will unlock:
🔑 3 startup opportunities breakdown in 1 report
🔑 6 target audience definitions in detail
🔑 13 problem definition examples
🔑 13 solutions and product feature examples in detail
🔑 8 revenue streams you can create to monetize your startup ideas
🔑 26 in-depth evaluations on each startup idea — how to prove market potential and create competitive advantages
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