Two former First Market Bank executives have launched a web-based business aimed at consumers who care for aging relatives.
Ted Ukrop and Katie Gilstrap founded Lift Caregiving in September and took the website live last week. The web portal offers information, including articles and service directories, for those being thrust into the role of caregiver for older loved ones.
The site is free for users. “It is an underserved market,” Ukrop said. “Caregivers are not self-identified naturally, so our goal is to try and create a community.” Ukrop said they hope to have 50,000 site visits a month by the end of the year, with the average visitor returning three times a month. Ukrop and Gilstrap came up with the idea while working at First Market. Gilstrap, who was the bank’s marketing director, started doing research a couple of years ago as part of a plan to possibly develop financial products for family caregivers with aging parents.
After conducting surveys, focus groups and online research, Gilstrap said she found that family caregivers were overwhelmed with no central resources available for buying products and finding essential services.
A business concept was born. With the merger with Union Bankshares approaching, Gilstrap shared her idea with Ukrop.
The company has an office in a small shop space on Broad Street downtown. “I was always involved in the family business, first supermarkets, then banking. I’ve always wanted a chance to do something on my own, something entrepreneurial,” Ukrop said. So far he and Gilstrap are the only employees.
After the merger, the duo left the bank to start work on putting the business together.
Ukrop served as First Market’s vice president of construction and facilities.
He is a son of Jim Ukrop, the previous chairman of both First Market and Ukrop’s Supermarket. Gilstrap said it wasn’t easy to leave the bank after eight years. “It was a really hard decision,” Gilstrap said, “but this was a great opportunity and the timing was right.” Ukrop didn’t share start-up costs but said there are no outside investors.
The biggest expenditures have been developing the website and licensing some content from the Oregon Center for Applied Science.
The website, which was designed by local firm INM United, has two sources of revenue. The first is payment from service providers to have a featured listing in the directory.
All listings have to have an A or A+ rating from the Better Business Bureau or a four- or five-star rating by Medicare. Listed companies are also vetted for quality on a regular basis. The featured companies also are able to contribute articles in their particular area of expertise, as long as they aren’t directly promotional.
For example, Blair Nelson, president of Nelson Funeral Home & Crematory, has contributed articles titled “7 Things to Consider When Preplanning a Funeral” and “Preplanning a Funeral in Tough Economic Times.” All business listed on the site are subject to review by users.
The other revenue stream is an online retail shop that sells everything from special clothing to designer canes. Lift only stocks a few specialty items, with the bulk of the products being drop shipped directly by the manufacturer or wholesaler to the customer.
Ukrop said that the service directories are currently for the Richmond area but that as the company grows they plan to add new cities to the mix. In the near future, Ukrop said he plans to launch a “family intranet” that will allow family members to share medical information, photos, schedules, wills and other information with each other securely online.
Two former First Market Bank executives have launched a web-based business aimed at consumers who care for aging relatives.
Ted Ukrop and Katie Gilstrap founded Lift Caregiving in September and took the website live last week. The web portal offers information, including articles and service directories, for those being thrust into the role of caregiver for older loved ones.
The site is free for users. “It is an underserved market,” Ukrop said. “Caregivers are not self-identified naturally, so our goal is to try and create a community.” Ukrop said they hope to have 50,000 site visits a month by the end of the year, with the average visitor returning three times a month. Ukrop and Gilstrap came up with the idea while working at First Market. Gilstrap, who was the bank’s marketing director, started doing research a couple of years ago as part of a plan to possibly develop financial products for family caregivers with aging parents.
After conducting surveys, focus groups and online research, Gilstrap said she found that family caregivers were overwhelmed with no central resources available for buying products and finding essential services.
A business concept was born. With the merger with Union Bankshares approaching, Gilstrap shared her idea with Ukrop.
The company has an office in a small shop space on Broad Street downtown. “I was always involved in the family business, first supermarkets, then banking. I’ve always wanted a chance to do something on my own, something entrepreneurial,” Ukrop said. So far he and Gilstrap are the only employees.
After the merger, the duo left the bank to start work on putting the business together.
Ukrop served as First Market’s vice president of construction and facilities.
He is a son of Jim Ukrop, the previous chairman of both First Market and Ukrop’s Supermarket. Gilstrap said it wasn’t easy to leave the bank after eight years. “It was a really hard decision,” Gilstrap said, “but this was a great opportunity and the timing was right.” Ukrop didn’t share start-up costs but said there are no outside investors.
The biggest expenditures have been developing the website and licensing some content from the Oregon Center for Applied Science.
The website, which was designed by local firm INM United, has two sources of revenue. The first is payment from service providers to have a featured listing in the directory.
All listings have to have an A or A+ rating from the Better Business Bureau or a four- or five-star rating by Medicare. Listed companies are also vetted for quality on a regular basis. The featured companies also are able to contribute articles in their particular area of expertise, as long as they aren’t directly promotional.
For example, Blair Nelson, president of Nelson Funeral Home & Crematory, has contributed articles titled “7 Things to Consider When Preplanning a Funeral” and “Preplanning a Funeral in Tough Economic Times.” All business listed on the site are subject to review by users.
The other revenue stream is an online retail shop that sells everything from special clothing to designer canes. Lift only stocks a few specialty items, with the bulk of the products being drop shipped directly by the manufacturer or wholesaler to the customer.
Ukrop said that the service directories are currently for the Richmond area but that as the company grows they plan to add new cities to the mix. In the near future, Ukrop said he plans to launch a “family intranet” that will allow family members to share medical information, photos, schedules, wills and other information with each other securely online.
Thanks so much for this website. It is very confusing and overwhelming to suddenly be responsible for another person. All help is appreciated. Now I really understand ” the sandwich generation!”